Cosmos Health Pockets 10-Year Manufacturing Deal With Provident Pharmaceuticals

Cosmos Health Inc. COSM shares are trading slightly lower on Friday.

The company revealed that its wholly owned subsidiary, Cana Laboratories, has entered into a ten-year contract manufacturing agreement with Provident Pharmaceuticals, a specialty pharmaceutical company.

This partnership will focus on producing four pharmaceutical products, including Miorelique, BE Union F.C., and two variations of Certorun, with an annual production target of 800,000 packs, totaling 8 million packs over the agreement’s duration.

The agreement encompasses the production of Miorelique, an oral Baclofen solution with an annual production volume of 200,000 packs. Miorelique serves as a muscle relaxant to treat spasticity, following the reference drug, Lioresal.

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Another key product in the deal is BE Union F.C. tablets, formulated with a vitamin B-complex blend, designed for nerve health and neuropathy support. These tablets will have a production volume of 400,000 packs per year.

Additionally, the contract covers Certorun, a Sertraline-based antidepressant, available in both 50 mg and 100 mg formulations, targeting a combined annual production of 200,000 packs.

Greg Siokas, CEO of Cosmos Health, expressed confidence in the partnership, emphasizing how it will accelerate Cana’s growth.

“We are very pleased to expand our already successful collaboration with Provident, further accelerating the growth of our contract manufacturing business at Cana’s state-of-the-art facilities,” Siokas said.

“These additional orders from Provident underscore our capabilities, and we remain well-positioned to accommodate further contract manufacturing opportunities that contribute to stable, long-term, high-margin cash flows for Cosmos,” the CEO added. 

According to Benzinga Pro, COSM stock has lost over 11% in the past year.

Price Action: COSM shares are trading lower by 1.23% to $0.7136 at last check Friday.

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