Neptune Wellness Solutions Inc. (“Neptune” or the “Company”) (NASDAQ: NEPT) (TSX: NEPT), a diversified and fully integrated health and wellness company, is pleased to announce today an expansion of its branded hand sanitizer product line.
Developed by Neptune Health & Wellness Innovations, in partnership with International Flavors & Fragrances (NYSE: IFF), the expanded product line consists of six new scented varieties, including Garden Mint, Fresh Linen, Orange Hibiscus, Eucalyptus, Fresh Lemon & Tea Tree, and Lavender. Neptune’s products are natural, plant-based sanitizers made with a specialized blend of essential oils, aloe vera and fruit extract.
The expanded hand sanitizer product line is expected to launch in July in the club store channel through one of the largest retailers in the world. Neptune’s partnership with IFF allows for rapid product development and delivery to retailers to ensure products are on the shelf and available to consumers. The Company expects expanded hand sanitizer revenues to be realized beginning in the second quarter of fiscal year 2021.
“We believe natural, plant-based products are the future as consumers pay increased attention to their health and wellness and use hand sanitizer products more frequently to prevent the spread of germs and bacteria,” said Michael Cammarata, Chief Executive Officer of Neptune Wellness Solutions. “The expansion of our hand sanitizer product line through our partnership with IFF offers consumers a better experience with a variety of great scents, as well as essential oils and aloe vera to promote skin health. We look forward to increasing our distribution nationwide through our retail partnerships.”
Nicolas Mirzayantz, IFF Divisional CEO, Scent, said, “We are proud to partner with Michael and his team on this timely and important product line. It is exciting to bring the talents of our perfumers and IFF’s exceptional portfolio of natural and sustainable ingredients to create fragrances that help make keeping safe a better experience for consumers.”
Neptune Health & Wellness Innovations is rapidly bringing new products to market to address market demand for critical health and wellness products such as the Neptune Halo oximeter, the Neptune Air non-contact thermometer, as well as hand sanitizer products and other innovations in development.