AllStar Health Brands Inc. (ALST) Announces Shareholder Update Including Current Efforts in COVID-19 Diagnostic Products
Miami, Florida--(Newsfile Corp. - October 27, 2020) - AllStar Health Brands Inc. (OTC Pink: ALST), a specialty pharmaceutical and nutritional supplements company, is pleased to announce an update on its diverse lines of business, including its latest efforts in the battle against the novel coronavirus SARS-CoV-2, the virus that causes COVID-19.
AllStar Health Brands is seeing growing adoption and uptick in interest from current and new end-users for its diagnostic test kits for COVID-19, both for its antibody and its PCR tests, expecting an upward trend in sales in 2020 and 2021. Additionally, the Company is seeking to expand into the antigen test market.
"We're unfortunately seeing rapid spreading of the coronavirus, with 42 states showing increases last week compared to prior week," said Dr. Daniel Bagi, President of AllStar Health Brands. "Diagnosing the virus as quickly and as efficiently as possible will be a critical element to fighting this, particularly as a viable vaccine or therapeutic treatment appears to still be many months away from being broadly available to the general public."
The Company recently announced an expansion of its distribution agreement with TPT Medtech for the company's QuikLAB mobile COVID-19 testing modules. The QuikLAB modules can be placed at any location and are easily transportable. The distribution agreement also covers TPT Medtech's proprietary sanitizing cabins that can be placed at building entrances for worker and visitor safety.
"The QuikLAB testing modules offer a fast, complete testing option, at a rapid throughput of up to 50 tests per hour, using either PCR or antibody tests," said Dr. Bagi. "By providing users with actionable, accurate results in a rapid time frame, we will help those affected to seek appropriate treatment or initiate recommended quarantine protocols, while alleviating concern in a great number of people in a timely fashion."
AllStar Health Brands recently entered into an agreement with Omicron Labs to distribute its SunVeil line of premium, mineral-based sunscreen products in the US and Canada. SunVeil products provide broad spectrum UVA/UVB protection in a natural formulation free of harmful chemicals found in many sunscreens.
"We're very excited to be distributing the SunVeil line of sun protection products," said Dr. Bagi. "We were focused on partnering with a company that not only produced high quality, premium products but also was conscious of the environmental impact that many sunscreens have to coral reefs globally. We also found the multiple matte skin shades very attractive, not just for the marketing potential but also for the social thought behind that production decision."
SunVeil products are currently sold in Mexico through direct-to-doctors promotions as a premium brand that is still reasonably priced. The global sun protection market is valued at approximately $20 billion today and is projected to grow to $24 Billion by 2024. Only about 35% of the market is in North America.
"We see significant growth potential for the SunVeil line, particularly as it meets multiple points of consumer demand: multiple skin shade options, matte finish, free of harmful chemicals and safe for the environment," continued Dr. Bagi. "Consumer demand has clearly been tilting toward chemical-free formulations, and we see the opportunity to penetrate the US and Canadian markets in a meaningful way."
AllStar Health Brands is in ongoing discussions with manufacturers of multiple women's beauty and healthcare products that the Company anticipates will complement its existing portfolio of skin care products to reach an even broader customer base.
About AllStar Health Brands Inc.
AllStar Health Brands is a specialty Health Care Products Company dedicated to improving health and quality of life by offering select products, including medical devices, nutritional supplements, over the counter remedies and medicines across the Americas and Europe. AllStar's goal is to bring additional products to the market and provide new, innovative options for better health and wellbeing. AllStar is a Nevada Corporation established in 2017, and headquartered in Miami, Florida.
For more information, please contact Investor Relations at (305) 423 7028.
Safe Harbor Statement
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.
The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management, as well as assumptions made by any information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties, and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended, or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.
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