Nu Skin and Toyo Bio-Pharma sign research agreement
Nu SkinResearch and regulatory benefits
The companies have signed a memorandum of understanding with the intention of sharing scientific insights and regulatory knowledge.
Such an exchange will occur through US-based NU Toyo Research, a newly created joint venture that will also develop new nutraceutical and cosmeceutical products.
These will then be sold by Nu Skin through its worldwide distribution network.
The direct selling firm recently announced expansion plans in Asia with new product launches and distribution initiatives.
By joining forces with natural products manufacturer Toyo Bio-Pharma, the company will be able to further improve its understanding of the market.
"Toyo Bio-Pharma is a subsidiary of Toyo Shinyaku, which is one of the most reputable supplement and skin care manufacturers in Japan," said Joseph Chang, chief scientific officer at Nu Skin Enterprises. "We are eager to leverage their knowledge of navigating regulatory requirements for skin care and supplements in Japan."
As well as helping NuSkin get to grips with the regulatory requirements of the Japanese market, the agreement is expected to help both companies advance their research efforts.
"We highly respect the industry-leading research and development capabilities of Nu Skin Enterprises," said Yoshi Shiraishi, president of Toyo Bio-Pharma. "We believe there is a synergy between the two research teams that both companies can benefit from."