Since news of COVID-19 broke, the U.S. Center for Disease Control (CDC) has strongly recommended using hand sanitizer with at least 60% alcohol. As a result, demand for sanitizer exploded more than 1,400% between December 2019 and January 2020, according to Adobe Analytics, as highlighted by Beauty Packaging. As demand continues to build, companies can’t produce sanitizer products fast enough, causing empty grocery store shelves. As shortages worsen, it’s unclear in some cases where additional supplies can be found. As a result, companies are racing to meet demand needs as quickly as possible. Some of the top companies getting swept up with sanitizers demand include The Yield Growth Corp. (CSE:BOSS )(OTC:BOSQF), Clorox Co. (NYSE:CLX), Kroger Co. (NYSE:KR), Kimberly Clark Corp. (NYSE:KMB), and Johnson & Johnson (NYSE:JNJ).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. announced a second hand sanitizer product approval; Urban Juve’s Natural Health Product application for hand sanitizer gel was approved by Health Canada under its new fast track application process. The approval was granted on April 2, 2020 by Health Canada’s Natural and Non-prescription Health Products Directorate, issuing Product License NPN: 80098154. This product licence authorizes the sale of the hand sanitizer gel. The approval was granted within one week of the application being submitted, consistent with Urban Juve’s hand sanitizer liquid spray, which was approved on March 27, 2020 under Product License NPN: 80097926.
“One of the biggest challenges in getting large volumes of hand sanitizer products to market is sourcing packaging,” says Yield Growth CEO Penny White. “With two different formulas approved, we have more packaging options, which will allow us to complete additional manufacturing runs to better meet the urgent and unprecedented demand for products that limit the spread of COVID-19.”
The Center for Disease Control (CDC) recommends frequent hand cleaning with soap and water for at least 20 seconds in order to protect against the novel coronavirus (COVID-19); and if soap and water are not readily available, it is recommended that individuals to use a hand sanitizer with at least 60% alcohol. Homemade products are not advised, and it is recommended that consumers visit the Health Canada website to learn which products are approved. Both Urban Juve hand sanitizer formulas are listed as approved.
“Urban Juve is scheduled to start production next week of our hand sanitizer spray,” added White. “We are eager to roll out these new products which allow Yield Growth to be part of the solution, as well as leveraging our experience in producing high-quality, natural personal care products - it's a natural extension of our expertise.”
As Urban Juve increases inventory production it plans to make the hand care products available through its retail pharmacy network and Amazon Prime. It will also donate some inventory to health care workers on the front lines of the coronavirus pandemic. Urban Juve hand sanitizing gel is a unique blend of ingredients and contains 65% Ethyl alcohol, consistent with Health Canada guidelines.
“Many people experience hand dryness or even cracking with heavy use of alcohol sanitizers. To help reduce this, we have created our formula with a multitude of protective, moisturizing and nourishing ingredients,” said Bhavna Solecki, Yield Growth Director of Product Research. “This includes aloe vera extract for hydration, witch hazel for its anti-inflammatory and anti-viral properties, and skin-protecting essential oils to keep hands moisturized and fresh. Urban Juve products are designed to nourish, heal and hydrate the skin.”
The sanitizers contain the highest quality natural essential oils including: oregano, thyme, tea tree, cedar, eucalyptus, blood orange and lemon, all of which are known for their disinfecting capabilities. According to Reportsnreports.com, the global market for hand sanitizers is anticipated to reach $5.5 billion by 2024, up from $2.4 billion in 2017.
Other related developments from around the markets include:
Clorox Co. (NYSE:CLX) announced that it will host a live audio webcast of a discussion with the investment community about its third quarter fiscal year 2020 results on Friday, May 1. The webcast is scheduled to begin at 10:30 a.m. PT (1:30 p.m. ET) and can be accessed at Clorox investor events. A replay of the webcast will be available on the company's website.
Kroger Co. (NYSE:KR) filed its annual report on Form 10-K and announced business updates in response to the impact from the novel coronavirus (COVID-19). "Kroger's most urgent priority is to provide a safe environment for associates and customers, with open stores, comprehensive digital solutions and an efficiently-operating supply chain, so that our communities have access to fresh, affordable food and essentials," said Rodney McMullen, Kroger's chairman and CEO. "We are so proud of our dedicated associates who are on the front lines serving our customers when they need us most. A huge thank you to all of our associates, whose efforts are nothing short of heroic." After experiencing strong sales in February, the COVID-19 pandemic triggered a significantly greater lift in sales across both physical retail stores and digital channels in March. Customers shop with Kroger in times of uncertainty because it is a brand they trust. In addition, Kroger has made significant investments for several years to enhance the seamless ecosystem for customers. As customers look for more digital solutions during the pandemic, Kroger is well-positioned to support them with pick-up, delivery and ship to home solutions. To advance operations and support the accelerated sales growth, the Kroger family of companies is making investments in its workforce, associate and customer safety, and the supply chain.
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."
Johnson & Johnson (NYSE:JNJ) announced that, in light of the evolving situation with the coronavirus outbreak (COVID-19), it will reschedule its 2020 Medical Devices Business Review that was planned to take place on May 13, 2020. Johnson & Johnson will continue to monitor the situation closely and follow guidance from health authorities to determine a future date. The decision was made to protect the health and safety of employees, partners and attendees, while also supporting the wider public effort to slow the spread of the virus as the global COVID-19 pandemic continues to develop. As a leader in global health, Johnson & Johnson’s top priority remains our patients, customers and employees. We are partnering with global and local health authorities to address immediate and long-term health care needs, to ensure sustainable supply of our critical medicines, as well as to research potential vaccines and therapeutics. We will remain on the front lines of this health crisis, bringing our full resources and minds to combat it.
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