Fri. 20 May 2022, 10:02am ET Benzinga News, Penny Stocks, Health Care, Contracts, Movers, Trading Ideas, General
- ChromaDex Corp (NASDAQ:CDXC) has agreed to establish a joint venture through its wholly-owned subsidiary ChromaDex Asia Limited.
- ChromaDex Asia is expected to assume the distribution agreement with Sinopharm Xingsha relating to the commercialization of Tru Niagen in mainland China and its territories, excluding Hong Kong, Macau, and Taiwan.
- Also See: ChromaDex Shares Gain On Niagen Supply Pact With US-Based Provider Of Dietary Supplements.
- The JV's entry into a distribution agreement will be contingent upon Sinopharm successfully attaining health food product registration for Tru Niagen with the People's Republic of China's State Administration for Market Regulation.
- True Niagen is a dietary supplement meant to reinvigorate cell growth and repair by raising NAD (nicotinamide adenine dinucleotide) levels in the body.
- According to the company, raising NAD levels can turn back the clock on aging and improve virtually every aspect of one's health.
- Price Action: CDXC shares are up 18.2% at $2.08 on the last check Friday.