Enviro-Hub associate company Pastel Gloves cleared to market gloves in the US
08 Jun 2021
As featured in Business Times.
ENVIRO-HUB Holdings said on Monday night that its associate company Pastel Gloves on May 13 received the 510(k) regulatory clearance from the US Food and Drug Administration (FDA) for its nitrile medical-grade examination gloves.
The group had previously announced a proposed acquisition of the remaining 75 per cent of shares of Pastel Gloves, which will become its wholly-owned subsidiary.
Enviro-Hub will be able to export the medical-grade gloves for sale in the US, where they typically command an average selling price 10 per cent to 15 per cent higher than normal gloves due to the limited supply in the market.
It estimates that only 20 per cent of the gloves in the market have obtained the 510(k) FDA certification and expects demand to remain high.