What happened
Specialty pharmaceutical company PLx Pharma (PLXP) had a day to remember on Tuesday, rising 27%. After market close on Monday, it revealed it had struck a deal with one of the top retailers on planet Earth.
So what
PLx Pharma's counterparty in the deal is Walmart (WMT -1.75%). The pharmaceutical company announced that its top product, the liquid aspirin capsule Vazalore, will be stocked in more than 4,500 Walmart stores throughout the U.S.
Image source: Getty Images.
The company won't have to wait long to start reaping the benefits of its Walmart presence; it said that three Vazalore offerings would start appearing on the retailer's shelves next month. The stores will stock 81-milligram capsules in 12- and 30-count containers, and shoppers can opt for a 325 milligram version in a 30-count package.
"With Walmart's broad reach and millions of customers, patients will have easy access to Vazalore in most of their stores nationwide," PLx Pharma CEO Natasha Giordano said in a statement. "Walmart's commitment is a real tribute to their recognition of Vazalore as an innovative aspirin therapy."
Now what
PLx Pharma is making quick and big strides with Vazalore. The product -- which is classified as a "drug delivery platform" because it neatly and safely transports liquid aspirin through the stomach to treat gastrointestinal difficulties -- received FDA approval for supplemental New Drug Applications (sNDAs) for the above-mentioned dosages in March.
A deal with such a major retailer this early in the game bodes very well for Vazalore's future. And, by extension, that of its maker.
