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Cosmos Health secures UAE market entry for supplements

EditorEmilio Ghigini
Published 03/18/2024, 09:34 AM
© Reuters.
COSM
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CHICAGO - Cosmos Health Inc. (NASDAQ:COSM), a global healthcare group, has announced its receipt of regulatory approval to sell its Sky Premium Life® vitamins and food supplements in the United Arab Emirates (UAE). The approval was granted by the Public Health & Safety Department of the Government of Dubai, issuing Consumer Product Registration Certificates valid for five years and renewable. These certificates enable the free distribution of Cosmos Health's products across the UAE.

The company has also received its initial purchase orders and is in advanced negotiations for an exclusive distribution agreement with local entities in the UAE. This strategic move taps into the growing nutrition and supplements market in the region, which, according to Insights10, is expected to reach $3.94 billion by 2030 from $1.91 billion in 2022.

Greg Siokas, CEO of Cosmos Health, expressed satisfaction with the company's market expansion efforts and the securing of regulatory approval for the entire UAE, including Dubai and Abu Dhabi. He highlighted the importance of this development in the company's goal to establish Sky Premium Life and other proprietary brands as leaders in the global market.

Cosmos Health, based in Chicago and incorporated in 2009, is engaged in a range of healthcare activities. These include owning a portfolio of pharmaceutical and nutraceutical brands, manufacturing under European Good Manufacturing Practices (GMP), and operating a telehealth platform through its acquisition of ZipDoctor, Inc. The company's expansion strategy focuses on growing its presence in Europe, Asia, and North America.

The information in this article is based on a press release statement and provides an overview of Cosmos Health's recent regulatory achievements and business aspirations in the UAE market. The company's progress reflects its broader objectives of increasing brand awareness and revenue through international market penetration.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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