Hiram Walker & Sons Distillery Proud to Produce Hand Sanitizer to Help Canadian Fight Spread of COVID-19 Virus

TORONTO, March 19, 2020 /CNW/ - As part of the national effort to fight the spread of the COVID-19 virus, Corby Spirit and Wine Limited and its Walkerville Hiram Walker & Sons Distillery in Windsor, Ont. are proud to announce that they will be producing hand sanitizer.

The historic distillery, proud producer of J.P.Wiser's Canadian whisky in operation for more than 160 years on the banks of the Detroit River, typically distills 180,000 litres of alcohol every day, but today will be adding hand sanitizer to its production line. 

"Corby is proud to support the efforts of the Canadian and Ontario governments and communities across the country in fighting the spread of the COVID-19 pandemic," says Patrick O'Driscoll, Chief Executive Officer of Corby. "In coordination with local and senior levels of government, we are utilizing our production capacity and Windsor distillery to help provide hand sanitizer to areas where it is in need."

The sanitizer will be donated where needed in Windsor, and to the TTC in Toronto. 

Corby and the TTC have a long-standing partnership with the annual Corby Safe Rides that provides free TTC rides on New Year's Eve. The donation of hand sanitizer will be used in TTC garages and at collector booths to help people keep their hands clean. 

"The health and safety of our employees – and our communities – is our top priority," says Mr. O'Driscoll. "In times like this, it is important that everyone, especially companies with strong Canadian roots, like ours, prioritize good corporate citizenship and step up in the name of the greater good. I am glad that we were able to form this public/private partnership and repurpose our spirits production facilities to meet a pressing need."

About Corby Spirit and Wine
Corby Spirit and Wine Limited is a leading Canadian manufacturer, marketer and distributor of spirits and wines. Corby's portfolio of owned-brands includes some of the most renowned brands in Canada, including J.P. Wiser's®, Lot 40®, and Pike Creek® Canadian whiskies, Lamb's® rum, Polar Ice® vodka, McGuinness® liqueurs, Ungava® gin, Cabot Trail® maple-based liqueurs and Chic Choc® Spiced rum, and Foreign Affair® wines. Through its affiliation with Pernod Ricard S.A., a global leader in the spirits and wine industry, Corby also represents leading international brands such as ABSOLUT® vodka, Chivas Regal®, The Glenlivet® and Ballantine's® Scotch whiskies, Jameson® Irish whiskey, Beefeater® gin, Malibu® rum, Kahlúa® liqueur, Mumm® champagne, and Jacob's Creek®, Wyndham Estate®, Stoneleigh®, Campo Viejo®, and Kenwood® wines. Corby is a publicly traded company based in Toronto, Ontario, and listed on the Toronto Stock Exchange under the trading symbols CSW.A and CSW.B.  For further information, please visit our website or follow us on LinkedIn, Instagram, or Twitter.

SOURCE Corby Spirit and Wine Communications

The Beer Store reduces store hours, pauses recycling

TORONTO, March 18, 2020 /CNW/ - The Beer Store is reducing store hours and pausing recycling until March 31 to enhance efforts to protect employees and customers. 

As we continue to closely monitor COVID-19, the Beer Store will reduce store hours to 10am to 7pm, Monday through Saturday, as of March 19^th. Stores that operate from 10am to 6pm are unaffected. Sunday hours remain unchanged. All updated store hours are available at www.thebeerstore.ca. 

The Beer Store will also suspend the return of empty containers at all retail stores across the province, effective March 19, through to March 31. Deposits will be fully honoured upon return when we resume operations and city officials ask for public cooperation in keeping these deposit containers out of the blue box. In addition, at times we may need to limit the number of customers in our stores. This is to enhance protection for both customers and our dedicated employees who are working hard to serve customers. 

We want to remind customers that Beer Xpress home delivery and in-store pick up are available in select communities, including most of the GTA, Ottawa and Kitchener-Waterloo; visit www.beerxpress.ca to learn more. Please note that delivery drivers of BeerXpress orders will not be accepting empty returns until further notice. 

As we collectively navigate the unfolding situation, we will continue to provide updates. We thank you for your patience with us.

About the Beer Store
The Beer Store offers customers over 800 brands, provided by 200 brewers. It is a completely open system that allows any brewer in the world to sell its brands in any Beer Store location it chooses, at prices determined by it and approved by the LCBO. The Beer Store is deeply committed to responsible sale by not selling to minors and people who are intoxicated. In 2018, more than 2.8 million customers were challenged to confirm their age or sobriety. It is also one of the greenest retailers in the world collecting around 1.4 billion beer containers (an 87 per cent return rate) and 395 million wine and spirit containers (a 81 per cent return rate) in 2018. The Beer Store is owned by 30 Ontario-based brewers and employs 7,000 hard-working Ontarians with well-paying full and part-time jobs.

SOURCE The Beer Store

Injured During Training? How to Realign Your Back

An injury can derail more than just your physical health. You need to take an injury seriously so that you don't experience chronic pain issues. Here are some of the strategies that you can use in order to realign your back and get things back to normal.

Seek Medical Aid

The first thing that you should do following any severe injury is to seek medical attention. Determining the extent and scope of your injury will give you more information about the best way to get your back realigned. Your doctor may recommend that you start with physical therapy in order to improve your injury. This generally involves a series of stretches and other types of exercises that will help you cope with your day-to-day life.

Visit a Chiropractor

In some instances, it can be to your best advantage to schedule a visit with a chiropractor. They can help you with your alignment issue so that you can more fully recover from your injury. A simple adjustment may be all that you require so that you can get back to living your life. For more serious issues, you may need to schedule several appointments in order to resolve your issue. Speak with your chiropractor  about your goals to help you achieve the most out of your visits.

Enroll in Yoga

Yoga is a good form of exercise because it focuses on improving your flexibility. It can also help to increase your mobility so that your back will realign in a more natural manner. You may be able to prevent future injuries from occurring if you continue to practice yoga. There's nothing wrong with being more flexible and this is what yoga can do for you if you're willing to put in the effort. Another benefit of yoga is that it can help to strengthen your core muscles.

Invest in Core Strengthening

There are a variety of different types of stretches that can help with your adjustment issue. Pelvic floor exercises, planking, and side to side stretches with weights can help you. Another option is to get an exercise ball and work on your balance. It may not seem like much, but over time, these types of exercises are increasing your core strength so that you can recover from any injuries or prevent them from occurring in the first place.

Back problems can get worse over time if you don't work towards improving your health. Use these ideas so that you can realign your back and return to your previous physical abilities.

Canopy Growth to temporarily close corporate owned retail amid response to COVID-19

SMITH FALLS, ON, March 17, 2020 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NYSE: CGC) has been monitoring the COVID-19 outbreak and paying close attention to the guidance given by public health bodies around the globe. Canopy Growth's leadership team has made the decision to temporarily close all corporate-owned Tokyo Smoke and Tweed retail locations across Canada, effective at 5:00 p.m. local time today, March 17. 

"We have a responsibility to our employees, their families, and our communities to do our part to "flatten the curve" by limiting social interactions. For us, that means shifting our focus from retail to e-commerce," said David Klein, CEO, Canopy Growth. "This is a big decision but it was also an easy one to make – our retail teams are public-facing and have been serving an above-average volume of transactions in recent days. Given the current situation, it is in the best interest of our teams and our communities to close these busy hubs until we are confident we can operate our stores in the best interest of public health."

Canopy Growth also has a responsibility to its customers and medical patients to continue providing access to their desired cannabis products and prescribed medication. The Company has established, fully supported e-commerce platforms available to our recreational and medical customers across the country to provide business continuity for people seeking our products. 

The decision affects the 23 corporately-owned stores in Newfoundland, Saskatchewan, and Manitoba as well as the Tweed Visitor Centre in Smiths Falls, ON. 

Patients will be able to continue purchasing medical cannabis through Spectrum Therapeutics. Adult consumers within Manitoba and Saskatchewan are able to purchase Canopy Growth products through Tweed and Tokyo Smoke e-commerce platforms, all other provinces and territories will be supported through government-run online retail. 

About Canopy Growth Corporation 
Canopy Growth (TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through Canopy Growth's subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time. Canopy Growth has operations in over a dozen countries across five continents.

Canopy Growth's medical division, Spectrum Therapeutics is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public's understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development. Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as single cannabinoid Dronabinol under the brand Bionorica Ethics.

Canopy Growth operates retail stores across Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large and loyal following by focusing on quality products and meaningful customer relationships.

From our historic public listing on the Toronto Stock Exchange and New York Stock Exchange to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including cannabis icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates eleven licensed cannabis production sites with over 7.5 million square feet of production capacity, including over one million square feet of GMP certified production space. For more information visitwww.canopygrowth.com

Notice Regarding Forward Looking Statements 
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canopy Growth or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Examples of such statements include statements with respect to future retail operations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including the Company's ability to satisfy provincial sales contracts or provinces purchasing all cannabis allocated to them, and such risks contained in the Company's annual information form dated June 25, 2019 and filed with Canadian securities regulators available on the Company's issuer profile on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

SOURCE Canopy Growth Corporation

Don’ts and Dos on Coronavirus 

by Jane M. Orient, M.D.

Some of the views expressed here are controversial. So, do ask your doctor. I hope you have one—not just the HMO or retail clinic “provider.”

Don’t panic. That is always good advice. If you, like the world’s economy, operate on just-in-time inventories, and did not take advice to stock up 3 weeks ago, do not join a mob at a big-box store. Somebody there is no doubt infected. Plus, there’s the risk of getting trampled or injured in a fist fight over the last roll of toilet paper. Most of the world survives without that luxury good. If you have no rice or beans or pasta in the pantry, that is more serious, but you should still avoid mobs if at all possible. Take-out and drive-through places are booming.

Don’t treat fever without a doctor’s advice. Fever is not a disease. It is an important defense mechanism. Very high fevers (say 105 degrees) can cause brain damage, and children can have seizures. But don’t pop Tylenol or ibuprofen at the first sign of fever. Many of the casualties in the 1918 pandemic might have been caused by heavy use of aspirin. Like aspirin, popular nonsteroidal anti-inflammatories (NSAIDS) such ibuprofen also have detrimental effects on blood clotting. Try lukewarm sponge baths for comfort.

Don’t rush out and get a flu shot. I know, a lot of doctors and public health authorities urge everybody to do this. Influenza can kill you, and the flu shot decreases that risk by 30% to 60%—but there is evidence that it can make COVID-19 worse, both from the earlier SARS epidemic and lab research. Like with so many things in medicine, we have to play the odds.

Don’t go to the emergency room or urgent care unless you are severely ill. There will be sick people there, and you might catch something. You also might end up with a big bill, say for a CT scan you didn’t really need. And if you have the flu or a cold or COVID-19, and don’t need IV fluids or oxygen, they can’t do anything for you. Telephone advice lines could help greatly.

Don’t go to events that are crowded, especially indoors in poorly ventilated rooms. Staying home is good.

Don’t demand to be tested and rely on the results. The tests are still in short supply and not very accurate. If you are at low risk, a positive test is likely to be a false positive. And if you are infected, the test may be negative at first. We need much more testing—mainly for public health monitoring.

Don’t waste. Expired medications are probably still good. Most drugs or essential ingredients are made in China, and supplies are running out. Masks (also mostly made in China) are meant to be disposable, but likely can’t be replaced (see below).

Don’t touch your face or your eyes. That is very hard—preventing that is one function of a mask and eye protection.

Don’t fall for internet scams, or malware. Hucksters will always be around to try to profit from panics. A new type of malicious virus is embedded malware in sites that come up on a search for information. (If you want to find the Johns Hopkins University dashboard of cases and deaths, go to the university’s website, don’t Google “coronavirus map.”)

Now for some dos:

Do prepare to take care of yourself and your family. Be sure you have a fever thermometer, disposable gloves, plastic garbage bags, and cleaning supplies. A pulse oximeter, available in many places for around $40, is good to have to check oxygen levels.

Do clean and disinfect surfaces such as doorknobs, telephones, computer keyboards, toilets, and countertops often. Virus can persist there for days.

Do remember that sunlight is the best disinfectant. If you don’t have a pocket ultraviolet lamp (they are or were available on amazon), try putting things like masks or paper currency out in the sun. The idea should be rigorously tested, but in times of need, you may have to guess.

Do wash your hands often and use hand sanitizer. With SARS-CoV-2, most disinfectants work, including 70-percent-alcohol-based sanitizers.

Do put a mask on sick people if you can. For protecting yourself you need a minimum of an N95 mask and eye protection.

Do take your vitamins. Most people may be vitamin D deficient. Your need for vitamin C escalates with infection. Some 50 tons of vitamin C was shipped to Wuhan, and studies of effectiveness are underway.

Do get your essential prescriptions refilled for 90 days—the supply chain depends on China. If your managed-care plan won’t pay, consider paying cash. You may be able to get a good price with a coupon from goodrx.com.

Do protect your immune system, with adequate sleep, exercise, fresh air, and diet, especially avoiding sugar if you feel ill.

Do help your neighbors, and be responsible about protecting others as well as yourself from contagion.

###

Jane M. Orient, M.D. obtained her undergraduate degrees in chemistry and mathematics from the University of Arizona in Tucson, and her M.D. from Columbia University College of Physicians and Surgeons in 1974. She completed an internal medicine residency at Parkland Memorial Hospital and University of Arizona Affiliated Hospitals and then became an Instructor at the University of Arizona College of Medicine and a staff physician at the Tucson Veterans Administration Hospital. She has been in solo private practice since 1981 and has served as Executive Director of the Association of American Physicians and Surgeons (AAPS) since 1989. She is currently president of Doctors for Disaster Preparedness. She is the author of YOUR Doctor Is Not In: Healthy Skepticism about National Healthcare, and the second through fifth editions of Sapira's Art and Science of Bedside Diagnosis published by Wolters Kluwer. She authored books for schoolchildren, Professor Klugimkopf’s Old-Fashioned English Grammar and Professor Klugimkopf’s Spelling Method, published by Robinson Books, and coauthored two novels published as Kindle books, Neomorts and Moonshine. More than 100 of her papers have been published in the scientific and popular literature on a variety of subjects including risk assessment, natural and technological hazards and nonhazards, and medical economics and ethics. She is the editor of AAPS News, the Doctors for Disaster Preparedness Newsletter, and Civil Defense Perspectives, and is the managing editor of the Journal of American Physicians and Surgeons.

Coronavirus: Healthcare Workers Most Vulnerable

"While everyone is worried about family, friends, and cases in the community, we ignore a very high risk and vulnerable group," says Jagdish Khubchandani, a Ball State University health science professor. "Studies have consistently shown that healthcare workers frequently work long hours, don’t practice self-care, lack on hygienic practices, and work while being sick. 

"Today, with coronavirus, there are additional challenges such as changing protocol, greater number of emergencies, shortage of medical supplies, and lack of preventive testing and protective equipment. Healthcare workers are at the frontline and often neglected during such times."

 Some key tips for healthcare workers:

1. Practice self-care with good diet, daily exercise, enough sleep, and adding more protein and vitamins to diet.
2. Buy your own protective equipment and sanitation supplies if not provided by workplace- masks and sanitizers.
3. Practice frequent hand washing. Preferably, after each encounter with a client or patient.
4. Hand washing is better than hand sanitizers. Or, practice both. Relying on hand sanitizers where optimum quantity is not used, or quality of sanitizers can be questioned, is not a good practice. Soap and water are highly recommended compared to casual use of sanitizers.
5. Try to avoid overworking, watch your shifts, and working hours- exhaustion can make you weak and vulnerable to regular flu as well (in addition to the risk of coronavirus).
6. Avoid personal contact with clients or patients as much as possible. Healthcare workers frequently shake hands, exchange greetings and hugs with clients who may do it out of affection or gratitude- a distant thank you is ok at this time.
7. Check your own symptoms and signs for any illness (especially, flu like illness). Cough, runny nose, fever, headaches and body pains should not be ignored during this season.
8. Ensure that coworkers don’t have these signs and symptoms- stay vigilant and help coworkers get care and rest if they have such symptoms. Be firm with colleagues who don’t practice good hygiene such as regular handwashing.
9. Follow guidelines for clinical practice and personal protection from authentic sources such as CDC.
10. Ensure that your facility is following best practices for infection control. It is appropriate now to educate colleagues and your managers, even if they are superiors or higher in chain of command (studies also show that most educated in healthcare professions could be least likely to practice personal hygiene).
11. Disinfect your office and personal space- even if it is not being done by facilities and janitors.
12. Call on facilities managers and ensure they are following protocols and daily cleaning and sanitation activities are ramped up.
13. Ensure that clients are not surrounded by too many friends or family members and educate clients on avoiding too many frequent visitors.
14. Pull up your training manuals and best practice guideline notebooks for infection control and review if needed.

6 tips to boost your immune system amid coronavirus, flu fears

By: Fresh n' Lean, the nation's #1 organic meal delivery service 

***

Food is great medicine for anyone trying to ward off the flu and Coronavirus.

While much of the conversation about safety has focused on washing your hands for 20 seconds, avoiding handshakes, and resisting the urge to touch your face, another key step to staying healthy involves strengthening your immune system.

Immune health is bolstered by smart lifestyle choices and the right diet — a year-round pursuit that allows our body the chance to defend itself no matter what we face.

“We often think of nutrition and how to support the immune system when it comes to the flu season, but our body’s defense systems operate every second of every day, fighting off foreign bacteria, viruses and other invaders, and keeping us healthy. Our goal should be to think of this daily, how best to support our bodies proper metabolic function,” said Randy Evans, MS, RD, LD, a registered dietician consultant with Fresh n' Lean.

Here are six tips to boosting your immune system.

Take care of yourself

Getting shuteye and taking the time to de-stress could help you stay healthy.

Lifestyle choices such as sleep and stress management are vital to the proper function of your immune system.

The non-profit National Sleep Foundation recommends adults receive an average of 7-9 hours of sleep each night.

Stress hasn’t been so easy lately. The COVID-19 pandemic has brought with it anxiety and fear. Stock markets tumbled, sports leagues suspended operations, cultural events and large gatherings were canceled, and our way of life began to shift.

Breathing exercises, meditation or a jog could help you shed some stress, helping you maintain positivity and maintain your immune health.

Eat the rainbow

Focus on the colors in your diet — green kale and cucumber, orange sweet potatoes and carrots, purples and blue hues of plums and blueberries.

“The colors in healthy foods are actually a part of the plant’s immune system, so eating the rainbow in your diet boosts your phytonutrient intake and boosts nutrients to help support your immune function,” Evans said.

Eating whole foods reduces the intake of chemicals, additives and artificial sweeteners often found in processed foods, improving the body’s detox system.

Beyond veggies and fruits, healthy fats — those found in extra virgin, organic, and cold-pressed coconut or olive oil, avocados, raw nuts and seeds, and range-fed or wild-caught animal products — are also a smart addition for meals and snacks.

Eat your medicine

Nutraceuticals represent the perfect balance of food and medicine — they provide nourishment as well as medical benefit.

The supplements “might aid prevention and control” of viruses like COVID-19, according to a research article published in February by the journal “Progress in Cardiovascular Diseases.”

Key nutraceuticals highlighted in the study include:

• Ferulic acid
• Lipoic acid
• Spirulina
• N-Acetylcysteine
• Selenium
• Glucosamine
• Zinc
• Yeast Beta-Glucan
• Elderberry

The nutrients are often found to be low or very low in unhealthy patients, Evans said, meaning the body is weak and unable to respond to viral threats.

Follow your gut

The best measure of your immune health can be found in your gut bacteria.

All of the bacteria in your body makes up your microbiome. The right types of food — such as leafy greens and lean proteins — can promote the growth of good bacteria, or microflora, in our systems and reduce inflammation.

The wrong types of foods, such as too much sugar, can fuel inflammation, making you more susceptible to disease and impacting hormone balance.

We often only focus on our gastrointestinal tract when we’re having issues, but most of our immune system cells (70-80%) are located in our gastrointestinal tract.

Soak up some sun

Make sure to stay on the sunny side.

Vitamin D — which is produced when the skin receives sunlight, and is also found in fresh fish and eggs — has many important functions in the body, including bolstering bone and overall health.

“It’s actually more of a hormone than a vitamin in function,” Evans said. “Research suggests Vitamin D has both antimicrobial and antiviral potential in the body. The most potent impact is shown when Vitamin D levels are boosted when found low.”

The most effective way of measuring the body’s Vitamin D levels is through the amount of the serum 25-hydroxyvitamin D in the blood, and experts recommend a concentration of 50 nanomoles per liter.

Stay hydrated

Water is the fuel that triggers the body’s metabolic processes, making H20 especially important for our immune health.

The goal: drink at least half your body weight in ounces of water. You may need more water than that if you’re active, and anyone who’s been told they’re fluid-restricted should discuss hydration with their doctor.

Dehydration, meanwhile, can invite a wide range of issues, including afternoon fatigue, headaches and muscle cramps.

It’s important to be mindful of staying hydrated if you drink alcohol. Be sure to trade one glass of water for every alcoholic drink you consume, and be sure to drink water before and after to keep your body in balance. Your boosted immune system and diminished hangover will thank you the next

OMA Supports Increased Social Distancing Measures and the Allocation of Additional Funds

TORONTO, March 17, 2020 /CNW/ - The Ontario Medical Association (OMA) strongly supports the government's actions to increase social distancing with the closure of bars and restaurants as well as making additional funds available for screening, protective equipment, and assessment centres.

"We are pleased that the government has allocated $50 million for personal protective equipment. In order to keep everyone safe, we must ensure that frontline health care workers stay well," said Dr. Sohail Gandhi, OMA President. "Unfortunately, health care workers often bear the brunt when there is an outbreak such as this one." 

The OMA continues to work closely with the Ministry of Health to ensure that we can get adequate supplies of personal protective equipment for doctors and other frontline health care workers.

We are also supportive of the funding for additional doctors, nurses, personal support workers, additional capacity in hospitals, additional testing and assessment centres. 

We know that social distancing and good handwashing hygiene are the most important things that we can do to flatten the curve and slow the spread of COVID-19. The mandatory closure of bars, restaurants and other non-essential public places is a challenging but necessary step in keeping people safe. 

"We would encourage people to also consider their mental health at this difficult time. It's important to note that social distancing does not mean social isolation," said Dr. Sohail Gandhi, OMA President. "We must stay in touch with each other - family, friends and colleagues. Reach out and call, or email, or skype – technology provides many options to keep in touch."

About the OMA

The Ontario Medical Association represents Ontario's 43,000 plus physicians, medical students and retired physicians, advocating for and supporting doctors while strengthening the leadership role of doctors in caring for patients. Our vision is to be the trusted voice in transforming Ontario's health-care system.  

SOURCE Ontario Medical Association

With new contracts drying up, India’s IT services industry should brace for challenging times ahead, says GlobalData

The actual impact of the coronavirus outbreak on the India’s IT services industry is now coming to the fore, with the number of new contract signings showing a consecutive decline over the past couple of months. While the extent of the drying-up of contracts will depend on how long the outbreak ultimately lasts, the Indian IT services industry should prepare itself for challenging times ahead, says GlobalData, a leading data and analytics company.

The Indian IT services industry has been enduring challenges for a while now–weathering fears of an impending slowdown and the lingering trade war tensions. However, the recent spread of the outbreak to several countries in Europe and the US will pose a serious challenge as both the regions have been critical for almost all IT services vendors in India. 

GlobalData’s IT contracts database, which tracks the publicly announced IT contracts, reveals that the number of IT services contracts signed in February 2020 have shown a monthly decline of 33%. Compared to February 2019, this is an annual decline of 37%. Even in January 2020, the number of IT services contracts were down 15% from the month before. 

Nishant Singh, Head of Technology and Telecoms Data at GlobalData, says: “The decrease in the new contract signings for the past two months are from a period when the coronavirus outbreak had been primarily restricted to China and Iran. Given the current spread of the outbreak, we expect fresh contracts to become even scarcer over the next few months.”

Depending on how long the outbreak lasts, this could indeed become a serious problem for the IT services sector. Typically, the services industry has a bit of a cushion owing to the contracts in the pipeline. However, the coronavirus outbreak is fundamentally challenging the way the IT services firms function. With various businesses trying to contain the epidemic by restricting the movement of personnel, it will also prove to be difficult for the services industry to deliver services on-site, which will make it difficult to execute large and complex contracts.

Indeed, some Indian IT services firms are now likening the impact of the coronavirus impact to that of the 2008 recession, and have expressed concerns that the outbreak could affect their financials; although, the implication of the outbreak will probably manifest itself over the next few quarterly earnings. Industries like travel and tourism, manufacturing and retail have been strongly affected by the outbreak, and IT services vendors having significant exposure to these verticals could find it challenging to have a healthy order book.

Singh concludes: “The next fiscal will be very challenging for the Indian IT services industry as the discretionary spending of clients will be lower as a result of the coronavirus outbreak and new projects are likely to be postponed until the outbreak is contained to some extent. While the Indian IT services industry has proven itself to be resilient time and again, in coronavirus, the industry will face it’s most difficult challenge yet.”