With sizable demand, companies that make hand sanitizer are racing to keep up. All as health officials around the world recommend disinfecting frequently touched surfaces, and alcohol-based sanitizers to keep hands clean.
“Purell has experienced a ‘substantial increase’ in demand for its line of sanitizing products, particularly for hand sanitizer and hand-sanitizing wipes and cleaning spray,” as reported by The Wall Street Journal. “Consumer demand online and at retailers has been especially pronounced, while businesses and health facilities have stepped up orders.”
In addition, according to Fior Markets, “The demand for hand sanitizers are increasing, with the growing coronavirus crisis rapidly across the globe. With the outbreak of the global pandemic, the need for hand sanitizers has quadrupled and an increase in the overall growth of 16x from December 2019 to March 2020.” Some of the top companies getting swept up with sanitizers demand include The Yield Growth Corp. (CSE:BOSS)(OTC:BOSQF), Clorox Co. (NYSE:CLX), 3M Co. (NYSE:MMM), Kimberly Clark Corp. (NYSE:KMB), and Church & Dwight Co. Inc. (NYSE:CHD).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. announced that it has submitted its second Natural Health Product (NHP) application to Health Canada for expedited approval under the new fast track policy; this application is for Urban Juve hand sanitizer gel. This application follows Yield Growth’s recent successful expedited approval of its Urban Juve hand sanitizer liquid spray, and is part of the company’s continued efforts to meet the growing market demand for disinfecting products that can help battle the coronavirus in Canada.
“Our new hand sanitizing gel provides a convenient and effective option for consumers on-the-go. We intend to provide several sizes and formula options for our customers,” says Yield Growth CEO Penny White. “Yield Growth is well-positioned to take advantage of the rising demand for high-quality, natural products to support good health and fight infectious diseases.”
Yield Growth intends to increase revenues by offering products that are in high and sustainable consumer demand. It draws on existing, stability-tested formulas to bring these to market under new and existing brands. Wholly owned subsidiary Urban Juve is enhancing its personal care line with the addition of several hand sanitizer products - a gel and a spray. Further, Urban Juve is developing a hand care line inclusive of a cleansing wash and a lotion, to combat irritation that occurs with consistent sanitization of one’s hands. It is also conducting research into plant-based therapeutics to fight infectious disease to inform its product roadmap.
Majority owned subsidiary Flourish Mushroom Labs continues product development of its functional mushroom coffees - formulas created to boost immunity. It is also progressing research and development into therapeutic use of psychedelics for mental and physical wellness.
Deemed an “essential service” in many Canadian provinces and U.S. states, cannabis dispensaries remain open through the COVID-19 pandemic. Given the uninterrupted consumer demand, Yield Growth is proceeding ahead with the development of a cannabis brand for distribution in Canada, Jack n Jane, planned for launch this fall. It intends to build on the success and learnings from its Wright & Well THC-infused pain management line, launched in Oregon several months ago. “Most crisis situations are also opportunities to advance - great challenges can bring great opportunities to improve the way we do things,” says Bhavna Solecki, Yield Growth Director of Product Research. “Hand sanitizer can be so much more than just hand sanitizer, and that is why we have formulated our hand sanitizer inspired by Ayurvedic philosophy to promote ultimate skin health as well.”
The Urban Juve natural hand sanitizer gel contains 65% Ethyl alcohol, which is in line with Health Canada guidelines. To kill most viruses, a hand sanitizer requires at least 60%-95% alcohol content. Urban Juve’s gel formula also contains witch hazel, aloe vera and a mixture of seven essential oils which are refreshing, invigorating and are known for their disinfecting properties: oregano, thyme, tea tree, cedar, eucalyptus, blood orange and lemon. Combined with aloe vera, these essential oils calm, hydrate and invigorate the skin. Witch Hazel also has anti-inflammatory and antiviral properties and is often used in topical botanical skin care.
Urban Juve is planning to launch its liquid spray hand sanitizer this month and its gel based hand sanitizer in Summer 2020. The global market for hand sanitizers is anticipated to reach $5.5 billion by 2024, up from $2.4 billion in 2017, according to Reportsnreports.com.
Other related developments from around the markets include:
Clorox Co. (NYSE:CLX) announced that its board of directors has declared a quarterly dividend of $1.06 per share on the company's common stock. The dividend is payable May 8, 2020, to stockholders of record as of the close of business on April 22, 2020. Clorox has a long history of providing value to its shareholders through regular dividend increases.
3M Co. (NYSE:MMM) Chairman and Chief Executive Officer Mike Roman delivered the following letter to William Barr, attorney general of the United States; Larry Hogan, governor of Maryland and chair of the National Governors Association; and Tim Fox, attorney general of Montana and president of the National Association of Attorneys General, highlighting 3M's actions to curb counterfeiting and price gouging of personal protective equipment during the COVID-19 pandemic. The letter also urges federal and state governments and law enforcement officials to continue to lead the fight, with 3M’s support and assistance, against those who are exploiting the crisis by marketing counterfeit products or gouging the public.
Kimberly Clark Corp. (NYSE:KMB) just announced that one in three U.S. families struggle to purchase diapers. As the economic impact of the COVID-19 crisis deepens, many more families are unable to pay for essentials and are turning to local diaper banks for help. Today, Kimberly-Clark Huggies brand announced that it will donate five million diapers to the National Diaper Bank Network (NDBN) to meet this growing need, and $1 million to United Way COVID-19 Community Response and Recovery Fund to support community social services. NDBN’s 200 diaper banks nationwide usually serve nearly 200,000 children on a monthly basis. The five million diapers Huggies® is donating to NDBN would fill twenty 18-wheeler trucks and will help local diaper banks meet the unprecedented demand for their services. Huggies has contributed 250 million diapers to NDBN since 2011 and 2020 is expected to will mark its biggest donation year in the brand's history. "The COVID-19 pandemic is disproportionally impacting children and families who lack access to clean diapers and other basic necessities. Hoarding, loss of jobs, and shelter in place orders have forced more families to turn to nonprofit diaper banks, depleting available supplies," said Joanne Goldblum, CEO, National Diaper Bank Network. "Local diaper banks needs immediate help. And, as in past disasters and emergency situations, NDBN is grateful to our founding sponsor Huggies® and Kimberly-Clark for their support and help to mobilize the delivery of diapers and other essentials that babies and families need to thrive."
Church & Dwight Co. Inc. (NYSE:CHD) announced measures it has taken to promote the safety of its employees, maintain its product supply to consumers and ensure the continuity of the business in response to the COVID-19 pandemic. The Company has taken actions to promote the safety of employees by enhancing operating protocols at all its global locations in compliance with public health requirements, recommendations and guidelines. These precautions include working from home where practical, temperature checking employees upon arriving at work locations, social distancing, restricting access to sites, flexible sick pay practices, frequent sanitization of work areas, and restrictions on business travel. A global response team, including members of senior management, was established and is in constant contact with local site leaders, so the Company can react quickly and appropriately. All the Company’s manufacturing facilities and distribution centers currently remain open and continue to operate. Various state and local governments in the U.S. and other jurisdictions have required cessation of non-essential activities. Substantially all of the Company’s products are considered essential under applicable governmental requirements and guidance, including the Department of Homeland Security’s March 19, 2020 Guidance on the Essential Critical Infrastructure Workforce.
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