Lord Global Corporation (OTCMKTS:LRDG) said its 100%-owned subsidiary, 27Health Inc., which has exclusive marketing rights to CoviGuard, believed to be the first and only oral sanitizer spray and mouthwash on the market. has received an order for one million units of the 4oz spray from Global Sanitizers Technologies Inc.
The company noted that the oral sanitizer product is designed to be the first product on the market to significantly reduce the viral and bacterial loads in the oral and mucosa membrane (mouth and throat).
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Global Sanitizer Technologies has one of the largest vertically integrated supply chains of hand sanitizers, gels and sanitizer surface sprays in the US. It utilizes OTC and cGMP manufacturing facilities to produce the highest quality sanitizer products for the healthcare, hospital, pharmacy, retail and convenience store industries.
In a statement, Ryan Lewis, CEO of Global Sanitizer Technologies commented: "We are excited to have the opportunity to distribute Coviguard, one of the first and only patent-pending, Oral Sanitizers on the market. The amazing team at 27Health Inc. and Coviguard Inc. has developed a world-class product that is going to serve as an additional line of defense against virus and disease. The product should become the leader in a new category of Oral Sanitizing products.”
Based in Las Vegas, NV with operations in California, Nevada, and Texas, Global Sanitizer Technologies is quickly becoming one of the leading suppliers of bulk and wholesale hand sanitizers and surface disinfectants in the USA.
Joseph Frontiere, CEO of Lord Global Corporation and 27Health Inc. added: "We are very fortunate to have Global Sanitizer Technologies Inc. be our first wholesaler and retailer to market the Coviguard line of products. The Company believes that this will be the first of many orders for such a needed product. We believe we will be able to fulfill this order as we enter into September of 2020.”
“When shipped, this order will represent approximately $5 million-plus in revenue for The Company with pharmaceutical like margins. The hand sanitizer market is in excess of $3.3 billion and the Company believes this new market is at least that. This is a significant milestone for The Company,” he added.
Lord Global Corporation intends to focus on the business development of its 27Health Inc. subsidiary which is dedicated to financing and marketing innovative, healthcare-related products that are and will benefit from the permanent changes caused by the coronavirus (COVID-19) pandemic.
Contact the author at jon.hopkins@proactiveinvestors.com