What happened
Shares of ChromaDex (CDXC +0.63%) were jumping 7.1% higher as of 11:38 a.m. EDT on Monday after rising as much as 16.2% earlier in the day. The big gain came after the company announced the launch of its Tru Niagen vitamin B3 product in 3,800 Walmart (WMT 0.41%) stores across the U.S.
So what
This launch wasn't a surprise. In March, ChromaDex announced that Walmart would begin carrying Tru Niagen in its stores in June. However, investors still cheered the launch, which has been anticipated for several months.
Image source: Walmart.
Tru Niagen has been on the market for years. ChromaDex reported sales for the product totaling $12.4 million in the first quarter of 2021, up 12% year over year.
The deal with Walmart is enormously important for ChromaDex, though. Walmart is the first major U.S. retailer to offer Tru Niagen. Two dosages -- 100 mg and 300 mg -- will be available in Walmart's stores as well as online.
Now what
ChromaDex has made a couple of other deals that could provide catalysts for the healthcare stock in the not-too-distant future. In April the company inked a supply agreement with Health & Happiness Group to use Niagen (the sole active ingredient in Tru Niagen) in H&H's Swisse consumer products. In May, ChromaDex announced another deal with Ro to use Niagen in its products.
