It's a season of uncertainty, but sales are booming: Companies see an upside to the pandemic with surge in demand for face masks and sanitizers
While thousands of Canadians line up for H1N1 vaccinations and people around the world worry about the spread of the virus, the pandemic is proving to be a financial windfall for many big corporations.
Yesterday Clorox Co., best known for its bleaches and other household products, said sales of its disinfectant wipes are at all-time highs. Sales have been so strong the company's profit jumped 23 per cent in the third quarter to $157-million (U.S.).
"The upside related to the H1N1 flu was well above our forecast given the rapid spread of the virus," said Larry Peiros, chief operating officer of Clorox North America.
Clorox is one of many companies benefiting from the H1N1 pandemic. Last week, Kimberly-Clark Corp. said sales of its face masks jumped 40 per cent year over year during the third quarter, and 3M Co. said it sold $100-million worth of masks in the last quarter.
"Our factories have been running flat out since May of this year to keep up with demand," said Pat Campbell, 3M's chief financial officer.
The Globe on H1N1 In depth: A closer look at how the virus works H1N1 v. seasonal flu: How to tell the difference Discussion: Swine flu myth bustersAcross the country: Find a clinic near you Q&A: Our public health reporter answers your questions Resources: Reliable information from across the Web Full coverage: News, video and analyisis from the Globe's team Even products not directly tied to fighting H1N1 are benefiting.
According to Chicago-based Information Resources Inc., a market research firm that monitors U.S. drugstores, sales of cough syrups and cold medications are up 8 per cent this year, while sales of hand sanitizers have climbed 19 per cent.
"Pretty much everyone who does something in influenza has gained from it," said Hedwig Kresse, an infectious diseases analyst at Datamonitor in London.
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