Ad Claims, Q3 Results, Private Placement: Health & Wellness Industry News
This article was originally published in The Rose Sheet
Executive Summary
NAD tips Balance of Nature claim to FTC; Vitamin Shoppe sales down 8.5%; ChromaDex gains $23m in private placement; and more health and wellness news in brief.
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FDA Warning Letter To Balance of Nature Cites Disease Claims On Supplements, GMP Violations
A February 2019 inspection of Balance of Nature’s manufacturing facility in St. George, UT, led FDA to claims on the firm's branded website and YouTube channel, which the agency says mark its products as unapproved drugs. Meanwhile, the site inspection turned up quality control and procedural documentation issues that still need to be resolved.
Vitamin Shoppe Turnaround Tools Include Auto-Delivery, Price-Matching
The firm has looked to boost sales through a retail re-invention strategy for improving customers' shopping experience with better store layouts, product assortment and website improvements. Now it’s using tools “directly focused on customer acquisition, price/value and customer retention,” CEO Colin Watts says.
New EU Approvals
The Pink Sheet's list of EU centralized approvals of new active substances has been updated to add two new products, including Ryzneuta, Evive Biotechnology's treatment for chemotherapy-induced neutropenia.