Cosmos Health Inc. ("Cosmos Health" or the "Company'') (NASDAQ:COSM), a diversified, vertically integrated global healthcare group engaged in innovative R&D, owner of proprietary pharmaceutical and nutraceutical brands, manufacturer and distributor of healthcare products, and operator of a telehealth platform, announced today it is in the final stages of securing regulatory approval to sell its biocide disinfectant hand soap, C-Scrub Wash 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."