Happiness Biotech Announced Receipt of NPN License in Canada for Its Hand Sanitizer

Rhea-AI Summary

Happiness Biotech Group Limited (Nasdaq: HAPP) announced the successful acquisition of a Natural Product Number (NPN) license from Health Canada for its 75% Alcohol Disposable Hand Sanitizer. This milestone permits its hand sanitizer to be legally sold in Canada, with an initial order of 53,280 bottles shipped recently. The company previously exported 150,000 masks to Canada and received a second order for 200,000 units. CEO Xuezhu Wang emphasized that obtaining the NPN license demonstrates the quality of their products and indicates future export ambitions.

Positive

• Acquisition of NPN license allows legal sale of hand sanitizer in Canada.
• Initial order of 53,280 bottles successfully shipped.
• Demonstrates product quality and regulatory compliance.

Negative

• Limited initial shipment of only 53,280 bottles may restrict revenue growth.

NANPING, China, July 7, 2020 /PRNewswire/ -- Happiness Biotech Group Limited (the "Company" or Nasdaq: HAPP), an innovative China-based nutraceutical and dietary supplements producer, announced today that the 75% Alcohol Disposable Hand Sanitizer from the Company has successfully obtained Natural Product Number (NPN) license from Health Canada and the first order of 53,280 bottles have been shipped this week. 

Before any natural health product can be sold in Canada, it must first undergo a pre-market review where it will be assessed for safety, efficacy and quality. Products, which meet the required criteria, will be authorized for sale and each issued a Natural Product Number (NPN) or Homeopathic Medicine Number (DIN-HM).

"We are very glad that our hand sanitizer can finally be exported to Canada. Although the first batch is only over 50,000 bottles, we believe this is a good start. Meanwhile, 150,000 of our masks were exported to Canada in May and we received the second order of 200,000 pieces in June. We believe our receipt of the NPN license from Health Canada demonstrates quality of our products. In the future, we will continue to strive to export to more countries and regions," said Mr. Xuezhu Wang, CEO of the Company.

About Happiness Biotech Group Limited

Headquartered in Nanping, China, Happiness Biotech Group Limited is an innovative China-based nutraceutical and dietary supplements producer focused on the research, development, manufacturing and marketing of a variety of products made from Chinese herbal extracts and other ingredients. The Company's goal is to provide high-quality products to our consumers. Over the past 14 years, the Company has established a product portfolio consisting of 32 CFDA registered "Blue-Cap" SKUs of nutraceutical and dietary supplements products. While the Company's main products are still nutraceutical and dietary supplements, the Company also produces epidemic prevention products to satisfy market needs. For more information, please visit: www.happ.org.cn.

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following:  the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China, the COVID-19 outbreak and its impact on our operations and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission.  For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

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SOURCE Happiness Biotech Group Limited

FAQ

What is the significance of Happiness Biotech's NPN license?

The NPN license allows Happiness Biotech to sell its hand sanitizer legally in Canada, indicating regulatory compliance and product quality.

How many bottles of hand sanitizer did Happiness Biotech ship to Canada?

Happiness Biotech shipped an initial order of 53,280 bottles of hand sanitizer to Canada.

What else has Happiness Biotech exported to Canada recently?

In addition to hand sanitizer, the company exported 150,000 masks to Canada and received a second order for 200,000 pieces.

What future plans does Happiness Biotech have for exports?

Happiness Biotech plans to continue exporting to more countries and regions, leveraging the quality of their products as demonstrated by the NPN license.

What is the stock symbol for Happiness Biotech?

The stock symbol for Happiness Biotech is HAPP.