Cosmos Health has entered into an agreement with International Medical Company to carry the “Sky Premium Life” line of nutraceuticals and food supplements across pharmacies in Qatar.
- International Medical Company is the largest pharmaceutical chain operator in Qatar.
- IMC is expected to handle all key functions in the country, including sales and marketing, regulatory affairs, logistics, supply, and distribution.
- The financial details of the agreement were not disclosed.
Cosmos Health (COSM) announced on Friday that it has struck a distribution pact with a leading retail partner in the Middle East for its products.
The company has partnered with International Medical Company (IMC), the largest pharmaceutical chain operator in Qatar, which will carry the “Sky Premium Life” line of nutraceuticals and food supplements.
Cosmos said IMC will be placing an initial order of 31,000 units without specifying further. According to the Sky Premium Life brand website, its best-selling products are the collagen dietary supplement, hyaluronic acid oral solution, and hair food supplement. The company has wholesale distributors through its subsidiaries in Greece and the U.K.
The financial details and the shipping timeline of the order were not disclosed.
IMC To Play A Key Role
IMC is expected to handle all key functions in the country, including sales and marketing, regulatory affairs, logistics, supply, and distribution, the company said.
"Qatar is one of the Gulf's most dynamic healthcare markets, and partnering with IMC and its Kulud Pharmacies network puts Sky Premium Life directly in front of consumers at scale from day one,” said Cosmos CEO Greg Siokas. “This is exactly the kind of high-impact partnership we are pursuing as we accelerate Sky Premium Life's global growth.”
What Retail Traders Think About COSM
On Stocktwits, retail sentiment about the stock remained in ‘bearish’ territory over the past 24 hours, with many users highlighting the distribution agreement.
COSM stock has declined more than 60% so far this year and over the past 12 months, underperforming the S&P 500.
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