BREAKING NEWS

Cosmos Holdings Signs Letter of Intent To Acquire CC Pharma GmbH A Leading Re-importer of EU Pharmaceuticals to Germany

Cosmos Holdings, Inc. (the Company) (OTCQB: COSM), an international pharmaceutical company, announced today that it signed a new Letter of Intent (LOI) to acquire the outstanding shares of CC Pharma GmbH, a leading re-importer of EU pharmaceuticals to Germany. Under the terms of the LOI, Cosmos Holdings holds the exclusive right to complete its due diligence process and complete the transaction by October 31, 2017. Financial terms of the transaction were not disclosed.   CC Pharma GmbH was founded in 1999 and is headquartered in Densborn, Germany. The company covers the entire value chain and its core business focuses on registration, repackaging, and delivery of high-priced pharmaceuticals to wholesale customers and pharmacies. CC Pharma GmbH has a network of over 12,000 pharmacies to sell its products and offers its customers imported pharmaceuticals in the areas of cytostatic drugs, rheumatism, HIV, cardiovascular disease and others. CC Pharma GmbH's revenues were approximately $200M in 2016.      Cosmos Holdings CEO Gregory Siokas commented, "I am excited to complete this transaction which I believe will be mutually beneficial to both CC Pharma GmbH and our shareholders. The acquisition will be a huge milestone for our company, bringing us to an entirely different level." Also, under the terms of the LOI, the parties agreed that certain current managers of CC Pharma GmbH will remain with the Company until at least December 31, 2018.   About Cosmos Holdings, Inc. Cosmos Holdings Inc. is a pharmaceutical company focused on identifying, acquiring, developing, and commercializing medicines to improve patients' lives and outcomes. The Company has a trans-European network of more than 60 clients and vendors in Germany, the United Kingdom, Ireland, Denmark, Poland, Netherlands, and Greece. Its warehouse and distribution center is located in Thessaloniki, Greece and is GDP & ISO 9001:2008 certified.    Cosmos Holdings, Inc. takes no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release or the information contained herein by any third-parties, including, but not limited to, any wire or internet services.

0 Comments Write your comment

    1. Loading...