- Neptune Wellness Solutions (TSX:NEPT) has received Health Canada’s approval to commercialise plant-based hand sanitisers
- The sanitisers consist of a blend of essential oils and fruit extract, and can kill 99.9 per cent of germs and bacteria
- Neptune is also working to fast-track FDA registration, in order to produce hand sanitisers for the US
- The company hopes to launch the products in summer 2020
- Neptune Wellness Solutions (NEPT) is up 8.11 per cent, and is currently trading for $1.60 per share
Biotechnology company, Neptune Wellness Solutions (TSX:NEPT) has received Health Canada’s authorisation to sell plant-based hand sanitisers.
Health Canada also issued the company a product license and Natural Product Number, which will appear on the product label.
Neptune is also working with the National Research of Canada to help develop, manufacture, and commercialise COVID-related solutions.
The company has considerable expertise in product formulation and has used it to produce natural and effective hand sanitiser products. The sanitisers consist of a blend of essential oils and fruit extract, which can kill 99.9 per cent of germs and bacteria.
Neptune will formulate the sanitisers at its production and processing facilities in Sherbrooke in Quebec and Conover in North Carolina. The company might also have some help from its contract manufacturing partners.
In order to produce hand sanitisers for the US market, Neptune is working to fast-track FDA registration. Once achieved, the company will produce and market over-the-counter hand sanitisers from its facility in North Carolina.
Neptune’s CEO, Michael Cammarata, said that the company was pleased that the authorisation would bring the plant-based sanitiser to market.
“We believe that consumers will increasingly look for natural sanitisers as their use of these products become more regular, in light of COVID-19.
“Our procurement and sales teams are working in concert with our scientists and engineers to source high-quality raw materials, in order to ramp up production and bring our products to market as soon as possible,” he said.
The company hopes to launch its sanitiser products in summer of this year.
Neptune Wellness Solutions (NEPT) is up 8.11 per cent, and is trading for $1.60 per share, as of 12:27pm EST.