Why Cosmos Health Stock Is Trading Higher Friday

Cosmos Health COSM shares are moving higher Friday after the company signed an exclusive distribution agreement with Pharmalink.

What Happened: On Thursday afternoon, the global healthcare company announced it had signed the agreement with Pharmalink for 130,000 units of its Sky Premium Life products in the United Arab Emirates.

According to the agreement, Pharmalink will oversee all critical functions, such as sales, marketing, regulatory affairs, logistics, supply and distribution of Sky Premium Life products in the UAE.

In the first year, Cosmos Health expects to receive orders totaling to 500,000 units.

“We are thrilled to announce our agreement with Pharmalink. This partnership will enable us to launch our Sky Premium Life products dynamically in the UAE, especially in affluent markets such as Dubai and Abu Dhabi,” stated Greg Siokas, CEO of Cosmos Health.

“We project receiving purchase orders exceeding 3 million units over the next five years and look forward to expanding our collaboration with Pharmalink.”

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COSM Price Action: At the time of writing, Cosmos Health shares are trading 65% higher at $1.12 per data from Benzinga Pro.

Image: Akava Photo from Pixabay