08.23.17
ChromaDex Corp., a provider of health and nutritional ingredients for dietary supplement, food and beverage, skin care, nutrition, and pharmaceutical products, has signed a definitive agreement to sell its analytical testing services business to LabCorp. 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 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 founder and chief executive officer, Frank Jaksch, said, “The analytical testing services business was a critical component to helping further set the standard for quality and safety in the supplement industry. While we will no longer be a testing solutions provider, we will most certainly continue our leadership in quality and safety through our standards business, as well as through the novel nutrients we discover, acquire, develop, and commercialize. We thank our many loyal customers for their partnership over the years, and we are pleased to have found a trusted and committed partner in Covance, to serve and support our customers.” ChromaDex will work closely with Covance to transition its analytical testing business customers into Covance’s care over the next several months.
ChromaDex founder and chief executive officer, Frank Jaksch, said, “The analytical testing services business was a critical component to helping further set the standard for quality and safety in the supplement industry. While we will no longer be a testing solutions provider, we will most certainly continue our leadership in quality and safety through our standards business, as well as through the novel nutrients we discover, acquire, develop, and commercialize. We thank our many loyal customers for their partnership over the years, and we are pleased to have found a trusted and committed partner in Covance, to serve and support our customers.” ChromaDex will work closely with Covance to transition its analytical testing business customers into Covance’s care over the next several months.