PLx Pharma Shares Up 30% as Vazalore Set To Launch in Walmart in August
July 13 2021 - 3:32PM
Dow Jones News
By Michael Dabaie
PLx Pharma Inc. shares were up 30% to $16.10 in Tuesday
afternoon trading after the specialty pharmaceutical company said
its Vazalore is set to launch in Walmart stores in August.
PLx said three stock-keeping units of Vazalore U.S. Food and
Drug Administration approved liquid-filled aspirin capsules will be
available in more than 4,500 Walmart stores across the U.S. in
mid-August.
Walmart has already inserted placeholders to reserve space on
shelves and alert customers that Vazalore is coming soon, PLx
said.
"The company has indicated it anticipates agreements with all
the major U.S. drug store retailers ahead of launch in 3Q21 but
obviously the Walmart agreement is significant in that is the first
disclosed as well as representing first major external endorsement
and thus validation of VAZALORE's commercial potential," Raymond
James said in a note.
"Gearing up for the nationwide launch, Walmart is the first
major retailer to dedicate shelf space to the newly FDA-approved
product. The shelf placeholders not only reserve shelf space for
VAZALORE, but also begin the process of alerting customers about
the innovative aspirin product," Raymond James said.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
July 13, 2021 15:31 ET (19:31 GMT)
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