Since the COVID-19 crisis began, healthcare stocks around the world have generally been soaring. That’s why today, Rich is interviewing the CEO of a promising healthcare stock, Allstar Health Brands Inc (OTCPK:ALST).
AllStar Health Brands is a specialty healthcare products company offering select nutritional supplements, as well as over-the-counter remedies and medicines all across North America, South America, and Europe. Headquartered in Miami, the company’s goal is to bring additional products to the market and provide new, innovative options for better health.
Rich and AllStar President and CEO Dr. Daniel Bagi discuss the company’s big news and what the future has in store for ALST.
Allstar Health Brands’ Current Initiatives
As mentioned in the company’s corporate update from January, AllStar is currently building its website to reflect its ongoing initiatives in e-commerce. Dr. Bagi and the rest of AllStar management expect to have it ready before the end of this quarter.
The company is also developing several exciting new products in the Women’s Health space. This is one of the fastest-growing market segments, and AllStar is working with specific GMP (Good Manufacturing Practices) manufacturers in the United States to bring new products to the market later this year.
On March 11, the company announced that it signed a distribution agreement with MedPharma Invest. The agreement is for the sale and marketing of a US-FDA registered, patented Over-the-Counter Medicine, Wound Cleanser. Wound Cleanser is already sold in select hospitals in the US, making it strategically poised for large-scale adoption.
Finally, AllStar Health Brands is targeting additional alliances with developers of new, yet-to-be patented products in Women’s and General Health. These alliances are slated for completion over this and next quarter.
“We have two products that we’re very close to finishing, and these will have advantages over competing products,” says Dr. Bagi.
How AllStar is Helping the Fight Against COVID-19
In its biggest and most recent news, AllStar is helping deliver rapid test kits that detect COVID-19. According to Bagi, these tests can identify signs of the virus within 10 to 15 minutes. For reference, current tests tend to take approximately 24 hours.
“Approval for these tests is expected any day now under the USFDA EUA, which is the Emergency Use Authorization,” Dr. Bagi explains.
While BioCan is the company developing the test kits, AllStar Health Brands will be responsible for delivering them.
In addition, AllStar is sourcing as much in-demand equipment as it can to meet orders from the US and South America. Specifically, it hopes to soon deliver the all-important N95 respirator to areas with a high number of coronavirus cases.
ALST is currently trading at $0.96, which represents a 4.5% decline from the start of the year. Today alone, however, the stock gained nearly 25%. No COIVD-19-related announcements have yet been released, meaning AllStar Health Brands’ stock is positioned for a potential surge.
What do you think? Does this company have what it takes to be a major supplier of healthcare products during the current pandemic? Let us know your thoughts and, as always, do your own research before investing.
Featured image: DepositPhotos © AntonMatyukha