Ovation Science Inc (CSE: OVAT) has received a substantial increase in demand for its DermSafe hand sanitizer across the globe. Thus far, the company has shipped 25,000 bottles of the hand sanitizer to China, in addition to the thousands of bottles that are being shipped to Canada and the United Kingdom.
As of March 11, 2020, The World Health Organization (WHO) has escalated the coronavirus outbreak from an epidemic to a global pandemic; the spread of the disease is no longer localized to a particular region but rather has now spread across multiple regions and countries around the world. Due to the rapid spread of the coronavirus, the demand for Ovation’s DermSafe hand sanitizer has drastically increased.
The DermSafe hand sanitizer is differentiated from standard hand sanitizers in that DermSafe contains chlorhexidine gluconate (CHG), which is substantially more effective than sanitzers that contain ethanol alone. The reason hygiene products such as DermSafe provide increased antimicrobial activity is that CHG binds to exposed skin areas such as hands, and resists water solubility and rubbing off for several hours after it has been applied.
The unique ingredient composition of DermSafe is key in hospital and highly infectious settings, as the DermSafe sanitizer is clinically proven to kill bacteria and viruses such as the swine flu (H1N1), bird flu (H5N1), as well as the influenza virus (H3N2). Although the hand sanitizer has not been tested for its effectiveness against the coronavirus (COVID-19), the virus does belong to the same family of viruses.
Thus far, Ovation has received supply requests in excess of 1 million bottles, and is expecting additional orders to come in from various countries that have already been heavily hit with the outbreak as well as countries that are in the preparation stages of a regional epidemic.
Ovation is a drug development company focused on the research and development of wellness and medical transdermal and topical products for the hospital and consumer setting.
Ovation Science Inc is currently trading at $0.40 on the CSE.
Information for this briefing was found via Sedar and Ovation Science Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.