ChromaDex sold its verification program

[OT2000]

Came across this while looking at a couple stocks.

https://globenewswire.com/news-relea...l-Results.html

“In the third quarter of 2017, ChromaDex completed the sale of its operating assets that were related to ChromaDex’s quality verification program testing and analytical chemistry business for food and food related products. As result of the sale, ChromaDex posted income of $5.4 million from discontinued operations or $0.12 per share.”

http://investors.chromadex.com/mobil...d=1&id=2295214

“Upon closing of the transaction, which is expected to happen in early September 2017, the analytical testing services will be offered through LabCorp’s Covance Food Solutions business. ChromaDex will maintain its strategic infrastructure and assets to accelerate the discovery, acquisition, development, and commercialization of new proprietary ingredient technologies. This includes its recently commissioned Longmont R&D facility, its reference standards business, and its regulatory and safety consulting resources, which are not part of the sale.”


ChromaDex sold all of its analytics to LabCorp. Covance is the arm of LabCorp that now has this former verification program/seal etc. Curious if they will continue to work with supplement companies since we are not hearing much about Covance approvals, extensions of prior programs etc.

[VaughnTrue]

sweet now I can bring my protein tub for testing next time I get my cholesterol checked



Thanks Obama

[LoudyRowdy]

[gbullock32]

So they sold their verification program instead of just selling the verification labels to companies? Cool.

[lucia316]

So they sold their verification program instead of just selling the verification labels to companies? Cool.

Seems totally reasonable man. I think the problem is if a brand wasn't willing to share the actual results of the tests, the seal means little. It was a "just trust us" play and some people did and some people didn't. Plus, other brands didn't really need it to keep selling product. Further, when you set up exclusive distribution deals of your product with the brands that are supposed to be verified, it can start to look sketchy.

I recalled this quote from 2015:

“This will be a total game changer,” says BPI Sports co-founder and VP James Grage. “You as a consumer will no longer have to guess whether you’re getting a quality protein product or one that’s been spiked with subpar ingredients. BPI Sports getting the ChromaDex seal will force other companies to do the same.”

Except no one else jumped on the train. It didn't force anything. And, like all bad stuff, protein spiking has largely been forgotten and many brands that did spike forgiven. Hell, I bought some MT protein 2 weeks ago, 10 lbs of it, myself.

Good on LabCorp, maybe they can make something of it. Chromdex can now focus on other stuff. They no longer need to focus on exclusive distribution with the exclusive company to their verification program. They can branch out I guess.

[koweanguy]

Seems totally reasonable man. I think the problem is if a brand wasn't willing to share the actual results of the tests, the seal means little. It was a "just trust us" play and some people did and some people didn't. Plus, other brands didn't really need it to keep selling product. Further, when you set up exclusive distribution deals of your product with the brands that are supposed to be verified, it can start to look sketchy.

I recalled this quote from 2015:


Except no one else jumped on the train. It didn't force anything. And, like all bad stuff, protein spiking has largely been forgotten and many brands that did spike forgiven. Hell, I bought some MT protein 2 weeks ago, 10 lbs of it, myself.

Good on LabCorp, maybe they can make something of it. Chromdex can now focus on other stuff. They no longer need to focus on exclusive distribution with the exclusive company to their verification program. They can branch out I guess.

<33
Thank you for the second chance
Oh and good post!

[faipdeooiad]

Do I have to change my subtitle to ‘LabCorp Verified’ now?

[OT2000]

Looks like they’re focused on their patented ingredients like Niagen, pTeroPure etc versus analytics.

[Misctake7]

Do I have to change my subtitle to ‘LabCorp Verified’ now?

faipdeooiad verified

[eatyourspinach]

Except no one else jumped on the train. It didn't force anything. And, like all bad stuff, protein spiking has largely been forgotten and many brands that did spike forgiven. Hell, I bought some MT protein 2 weeks ago, 10 lbs of it, myself.

Well Musclepharm has a verification program with Eurofins

[lucia316]

Well Musclepharm has a verification program with Eurofins

I meant to the point in the quote that everyone was going to jump on the Chromadex train which, as I read it, was the implication.

[OT2000]

Well Musclepharm has a verification program with Eurofins

You never really hear about this although it seems MP doesn’t focus on advertising it.

[carguy123]

Came in exacting The Fug to have purchased them, leaving disappointed

[LoudyRowdy]

Came in exacting The Fug to have purchased them, leaving disappointed

He owns stocks in Lab Corp (went up .75% today). So he did "purchased" Chromadex

[AMeyer9]

Well Musclepharm has a verification program with Eurofins

That's still a brand?