59.7 F
Los Angeles
Tuesday, Nov 28, 2023

ChromaDex Lands Walmart Distribution Deal

Westwood-based ChromaDex Corp. announced March 10 that it had reached a deal with Bentonville, Ark.-based Walmart Inc. to place its main nutrition supplement, TruNiagen, on the shelves of 3,000 Walmart stores nationwide beginning in June.

ChromaDex plans to present TruNiagen in two packaging sizes and price points for Walmart customers. In addition to in-store availability, these options will be available online with same-day delivery and in-store pickup options for select locations.

TruNiagen’s main active ingredient is nicotinamide riboside chloride, which boosts production of metabolic agent nicotinamide adenine dinucleotide, or NAD, in the human body. ChromaDex has supported research into the role that NAD plays in maintaining healthy cellular functions, especially as the body ages.

“We believe TruNiagen is one of the most important new dietary supplements to emerge in many years,” ChromaDex Chief Executive Rob Fried said in the announcement. “We are grateful to Walmart in assisting in our quest to help as many people as possible to ‘age better.’”

Separately on March 10, ChromaDex reported fourth-quarter and full-year earnings.
The company posted net sales of $15.4 million in the fourth quarter, up 18% from $13.1 million in the fourth quarter of 2019. ChromaDex reported a loss of $6.1 million for the fourth quarter, which was less than the $8.9 million loss it reported in the fourth quarter of 2019.

For all of 2020, ChromaDex reported net sales of $59.3 million, up 28% from $46.3 million for 2019. The company posted a full-year loss of $19.9 million, which was significantly less than the loss of $32.1 million reported for 2019.

“ChromaDex’s philosophy of focusing on business fundamentals with a science-based strategic approach continued in 2020,” Fried said in the earnings announcement. “In 2021, we will further our position as the world's leading NAD+ company by growing the Tru Niagen brand, extending partnerships and furthering scientific advancements with world-leading scientists.”

Fried’s comments did not mollify investors, who reacted negatively to the combination of the Walmart distribution announcement and the earnings report. Shares of ChromaDex slid 6.2% on March 10 to close at $10.75 a share. The stock rebounded on March 11, up 5% to close at $11.31.

Howard Fine
Howard Fine
Howard Fine is a 23-year veteran of the Los Angeles Business Journal. He covers stories pertaining to healthcare, biomedicine, energy, engineering, construction, and infrastructure. He has won several awards, including Best Body of Work for a single reporter from the Alliance of Area Business Publishers and Distinguished Journalist of the Year from the Society of Professional Journalists.

Featured Articles

Related Articles