CHICAGO - Cosmos Health Inc. (NASDAQ:COSM), a global healthcare group, disclosed that its CEO, Greg Siokas, has purchased 60,000 shares of common stock on Thursday. The acquisition, executed at an average price of $0.8301 per share, amounted to a total investment of $49,806. This move is part of Siokas's commitment to invest up to $3 million in the company's shares by the end of 2024, as previously announced on December 18, 2023.
Siokas's recent purchase aligns with his ongoing financial engagement with the company, where he has invested over $15 million since its inception, including roughly $1 million in the previous year. He expressed his belief that the current market valuation does not reflect the company's fundamental strengths and growth potential. Despite the decline in share price, Siokas noted that Cosmos Health has made substantial progress, including reducing debt, expanding proprietary brands, advancing research and development, and acquiring new companies, properties, and drug licenses.
Cosmos Health, established in 2009 and headquartered in Chicago, Illinois, operates a diversified business model. It owns and manufactures proprietary pharmaceutical and nutraceutical brands and distributes healthcare products. Additionally, it runs a telehealth platform through its acquisition of ZipDoctor, Inc.
The company's manufacturing subsidiary, Cana Laboratories S.A., is licensed under European Good Manufacturing Practices (GMP) and certified by the European Medicines Agency. It produces pharmaceuticals, food supplements, cosmetics, biocides, and medical devices within the European Union. Cosmos Health also distributes pharmaceuticals and parapharmaceuticals to retail pharmacies and wholesale distributors in Greece and the UK.
The company is actively involved in research and development, focusing on major health disorders like obesity, diabetes, and cancer, and is expanding its global distribution network into Europe, Asia, and North America.
This information is based on a press release statement from Cosmos Health Inc. and does not include any speculative content or forward-looking statements beyond what was provided by the company and its CEO.
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