Cosmos Health To Receive Regulatory Approval for C-Scrub Disinfectant in the UK, Obtains Initial Purchase Order; Explores Opportunities Outside EU, Eyeing Global $36Bn+ Market
Cosmos Health Inc. announces final stages of securing regulatory approval to sell biocide disinfectant hand soap, C-Scrub Wash 4% CHG, in the UK. The Company expects to enter agreements to supply the NHS, targeting a significant market share. C-Scrub offers immediate and prolonged antimicrobial action, catering to a wide range of microbes, with a focus on skin health and cosmetic friendliness. The global hospital disinfectant market is projected to grow significantly, positioning Cosmos Health for potential growth opportunities.
The announcement by Cosmos Health regarding the impending regulatory approval of C-Scrub Wash 4% CHG in the UK represents a strategic move within the healthcare sector. The global hospital disinfectant products and services market is witnessing a robust growth trajectory, with an estimated CAGR of 7.7% through 2033. The integration of C-Scrub into the UK market, coupled with a potential supply agreement with the NHS, could significantly bolster Cosmos Health's market presence.
Entering the UK market is a calculated step for Cosmos Health, given the market's established healthcare infrastructure and the NHS's role as a major consumer of healthcare products. The demand for effective disinfectants has been heightened by the increased focus on hygiene and infection control, a trend which has gained momentum due to the COVID-19 pandemic. The company's ability to offer a product that caters to iodine-sensitive users and provides prolonged antimicrobial action positions it advantageously against competitors.
However, the success of this expansion will depend on several factors, including the product's competitive pricing, effectiveness compared to existing alternatives and the company's capacity to fulfill large orders from the NHS. Furthermore, the long-term sustainability of this growth will hinge on the continued innovation and adaptation to emerging healthcare challenges.
From a financial perspective, Cosmos Health's expansion into the UK market and the initial purchase order for C-Scrub could be a significant revenue driver. The UK healthcare market is substantial and a partnership with the NHS could represent a stable and recurring revenue stream. Investors will be closely monitoring the company's ability to secure the necessary regulatory approvals and finalize agreements with the NHS, as these developments could positively influence the company's stock performance.
It is important to assess the potential impact on Cosmos Health's cash flows and to consider the costs associated with market entry, such as marketing and distribution expenses. Investors should also consider the scalability of production capabilities at Cana Laboratories to meet the anticipated demand. While the company's CEO has expressed optimism regarding future cash flows, it is important to balance this with a realistic appraisal of the costs and potential barriers to market penetration.
Investors will also be interested in the company's plans to enter non-EU markets, as this could further diversify revenue sources and mitigate regional market risks. The company's performance in the UK could serve as a benchmark for its potential success in other international markets.
From a medical standpoint, the effectiveness of C-Scrub Wash 4% CHG, with its active ingredient chlorhexidine gluconate, is well-documented in clinical settings. Chlorhexidine gluconate is a proven antiseptic agent and the product's formulation, which includes emollients, addresses skin health concerns that can arise from frequent handwashing in healthcare environments.
The claim of immediate and prolonged antimicrobial action for up to 6 hours, even in the presence of biological fluids, is particularly relevant for hospital settings where the risk of nosocomial infections is a constant challenge. The ability to target a wide range of microbes, including bacteria, viruses and fungi, aligns with the needs of modern healthcare facilities that require broad-spectrum disinfectants.
It's also noteworthy that the product does not promote resistance, an important consideration as antimicrobial resistance becomes an increasing concern globally. The emphasis on a cosmetically friendly formulation suggests that user compliance might be higher, which is critical for infection control protocols. The availability in various sizes also indicates that the product can be tailored to different healthcare settings, from large hospitals to smaller clinics.
03/19/2024 - 10:10 AM
CHICAGO, IL / ACCESSWIRE / March 19, 2024 / Cosmos Health Inc. ("Cosmos Health" or the "Company'') (NASDAQ:COSM) 4% CHG ("C-Scrub"), in the United Kingdom (UK), and has obtained its inaugural purchase order.
Cosmos Health expects to obtain all necessary registration approvals from the UK's Health Security Agency (HSA), an executive agency of the Department of Health and Social Care. Approval will allow the authorized distribution of C-Scrub across the entire UK market.
Additionally, the Company expects to enter into agreements to supply the National Health Service (NHS), the publicly funded healthcare system of the UK, comprising the National Health Service in England, Scotland, and Wales, and the Health and Social Care in Northern Ireland.
C-Scrub, formulated with 4% chlorhexidine gluconate and supported by extensive clinical experience, is ideal for routine hand disinfection and targets a wide range of microbes, including bacteria, viruses, and fungi. It provides immediate and prolonged antimicrobial action, effective for 6 hours, even in the presence of biological fluids. Particularly suitable for users sensitive to iodine, it does not promote resistance, includes emollients for skin health, and is cosmetically friendly. Produced at the facilities of Cana Laboratories, it is available in sizes ranging from 250ml to 20L, suitable for use in a variety of healthcare environments, including hospitals and outpatient settings such as clinics, surgery rooms, emergency departments, wards, intensive care units, surgery centers, and other medical facilities.
According to Future Market Insights, the global hospital disinfectant products and services market size is estimated to be valued at $36.1 billion in 2023 and is expected to reach $75.6 billion by 2033. This reflects a compound annual growth rate (CAGR) of 7.7% during the forecast period, with the UK market playing a significant role.
Greg Siokas, Chief Executive Officer of Cosmos Health, stated: "We look forward to expanding C-Scrub in the United Kingdom, a very lucrative market for us. We also look forward to entering into a collaboration with the NHS, which is expected to provide an attractive stream of cash flows for Cosmos. Moreover, we are planning to enter several key non-EU markets, eyeing the lucrative global hospital disinfectant market which is expected to surpass $75 billion by 2033."
About Cosmos Health Inc.
Cosmos Health Inc. (Nasdaq:COSM), incorporated in 2009 in Nevada, is a diversified, vertically integrated global healthcare group. The Company owns a portfolio of proprietary pharmaceutical and nutraceutical brands, including Sky Premium Life®, Mediterranation®, bio-bebe® and C-Sept®. Through its subsidiary Cana Laboratories S.A., licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency, it manufactures pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes a broad line of pharmaceuticals and parapharmaceuticals, including branded generics and OTC medications, to retail pharmacies and wholesale distributors through its subsidiaries in Greece and the UK. Furthermore, the Company has established R&D partnerships targeting major health disorders such as obesity, diabetes, and cancer, and focuses on the R&D of novel patented nutraceuticals, specialized root extracts, proprietary complex generics, and innovative OTC products. Cosmos Health has also entered the telehealth space through the acquisition of ZipDoctor, Inc., based in Texas, USA. With a global distribution platform, the Company is currently expanding throughout Europe, Asia, and North America, and has offices and distribution centers in Thessaloniki and Athens, Greece, and in Harlow, UK. More information is available at www.cosmoshealthinc.com , www.skypremiumlife.com , www.cana.gr , and www.zipdoctor.co , as well as LinkedIn and X .
Forward-Looking Statements
With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic and the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website (www.sec.gov ). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact: cosm@bdgcommunications.com
SOURCE: Cosmos Health Inc.
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What product is Cosmos Health seeking regulatory approval to sell in the UK?
Cosmos Health is seeking approval to sell its biocide disinfectant hand soap, C-Scrub Wash 4% CHG, in the UK.
What is the key feature of C-Scrub?
C-Scrub offers immediate and prolonged antimicrobial action, effective for 6 hours, catering to a wide range of microbes, including bacteria, viruses, and fungi.
What is the expected market size of the global hospital disinfectant products and services market by 2033?
The global hospital disinfectant market is expected to reach $75.6 billion by 2033, reflecting a compound annual growth rate (CAGR) of 7.7%.
Who is the Chief Executive Officer of Cosmos Health?
Greg Siokas is the Chief Executive Officer of Cosmos Health.
What are the key markets Cosmos Health is planning to enter?
Cosmos Health is planning to enter several key non-EU markets, eyeing the lucrative global hospital disinfectant market.
