Neptune strategic expansion into the Health
& Wellness Innovation
space accelerates amid
Covid-19
Scheduled for launch in July in the club store
channel through one
of the largest retailers in the
world
LAVAL, QC, June 22, 2020 /CNW Telbec/ - 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.
About Neptune Wellness Solutions Inc.
Neptune
Wellness Solutions is a diversified and fully integrated health and
wellness company. Through its flagship consumer-facing brands,
Forest Remedies™ and Ocean Remedies™, Neptune is redefining health
and wellness by building a broad portfolio of natural, plant-based,
sustainable and purpose-driven lifestyle brands and consumer
packaged goods products in key health and wellness markets,
including hemp, nutraceuticals, personal care and home care.
Leveraging decades of expertise in extraction and specialty
ingredient formulation, Neptune is a leading provider of turnkey
product development and supply chain solutions to businesses and
government customers across several health and wellness verticals,
including legal cannabis and hemp, nutraceuticals and white label
consumer packaged goods. The Company utilizes a highly
flexible and low cost supply chain infrastructure that can be
scaled up and down or into adjacent product categories to quickly
adapt to market demand. Neptune's corporate headquarters is located
in Laval, Quebec, with a
50,000-square-foot production facility located in Sherbrooke, Quebec and a 24,000 square-foot
facility located in North Carolina. For additional
information, please visit: https://neptunecorp.com/
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
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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.html 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.