Registration as an over-the-counter drug
manufacturer to prepare alcohol-based hand sanitizers accelerates
anticipated timeline to initial production
LAVAL, QC, April 9, 2020 /CNW Telbec/ - Neptune
Wellness Solutions Inc. ("Neptune" or the "Company") (NASDAQ: NEPT)
(TSX: NEPT), is pleased to announce today that it has successfully
completed a submission to the U.S. Food and Drug Administration
(FDA) for registration of its facility in Conover, North Carolina as an over-the-counter
(OTC) drug manufacturer to prepare alcohol-based hand sanitizers
under the agency's temporary policy for such products during the
public health emergency (COVID-19).
Registration of the Conover
facility with FDA enables the company to begin manufacturing
alcohol-based hand sanitizers to help address the increased demand
for these products by consumers and health care professionals. This
announcement follows the recent announcement that the Company
received Health Canada authorization to commercialize natural,
plant-based hand sanitizer products. The Company anticipates
its first shipments of hand sanitizers over the next several weeks
with production volume ramping up into summer 2020.
"We are very pleased to have fast tracked our registration
with FDA and are committed to supporting our fellow citizens across
North America," said Michael Cammarata, Chief Executive Officer of
Neptune. "We have already received strong interest from
retailers and have worked with our partners to successfully secure
initial raw material supplies. We anticipate initial shipments over
the next several weeks and intend to fully ramp up production over
the coming months. Our hand sanitizers are leveraging our
experience and ongoing development of plant-based household
products, allowing us to quickly address this growing consumer need
with a premium quality solution."
For additional information on Neptune's hand sanitizer solutions
in both the United States and
Canada, please visit
https://solutions.neptunecorp.com
About Neptune Wellness Solutions Inc.
Neptune
Wellness Solutions specializes in the extraction, purification and
formulation of health and wellness products. The Company has in
excess of 100 customers across several verticals including legal
cannabis and hemp, nutraceutical and consumer packaged goods.
Neptune's wholly owned subsidiary, 9354-7537 Québec Inc., is
licensed by Health Canada to process cannabis at its
50,000-square-foot facility located in Sherbrooke, Quebec. The Company also has a
24,000 square-foot facility located in North Carolina to process hemp biomass into
extracts. Neptune brings decades of experience in the natural
products sector to the legal cannabis and hemp industries.
Leveraging its scientific and technological expertise, the Company
sees applications for hemp-derived extracts in the U.S. beyond
existing markets and product forms and into personal care and home
care markets. Neptune's activities also include the development and
commercialization of turnkey nutrition solutions and patented
ingredients such as MaxSimil®, and a variety of marine and seed
oils. Its head office is located in Laval, Quebec.
Forward Looking Statements
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements"
within the meaning of the U.S. securities laws and Canadian
securities laws. Such forward-looking statements involve known and
unknown risks, uncertainties, and other unknown factors that could
cause the actual results of Neptune to be materially different from
historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements which
explicitly describe such risks and uncertainties, readers are urged
to consider statements labeled with the terms "believes", "belief",
"expects", "intends", "projects", "anticipates", "will", "should"
or "plans" to be uncertain and forward-looking. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press
release.
The forward-looking statements contained in this press release
are expressly qualified in their entirety by this cautionary
statement and the "Cautionary Note Regarding Forward-Looking
Information" section contained in Neptune's latest Annual
Information Form (the "AIF"), which also forms part of Neptune's
latest annual report on Form 40-F, and which is available on SEDAR
at www.sedar.com, on EDGAR at www.sec.gov/edgar.shtml and on the
investor section of Neptune's website at www.neptunecorp.com. All
forward-looking statements in this press release are made as of the
date of this press release. Neptune does not undertake to update
any such forward-looking statements whether as a result of new
information, future events or otherwise, except as required by law.
The forward-looking statements contained herein are also subject
generally to other risks and uncertainties that are described from
time to time in Neptune public securities filings with the
Securities and Exchange Commission and the Canadian securities
commissions. Additional information about these assumptions and
risks and uncertainties is contained in the AIF under "Risk
Factors".
Neither NASDAQ nor the Toronto Stock Exchange accepts
responsibility for the adequacy or accuracy of this release.
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SOURCE Neptune Wellness Solutions Inc.