Nu Skin announced that they have signed a research partnership agreement with Toyo Bio-Pharma, a manufacturer of all natural products in the United States and Japan. In an effort to facilitate the partnership, the two companies have set up a new joint venture in the U.S. called NU Toyo Research, Inc.
Toyo has never before partnered with a direct sales company. As part of the agreement, the two companies will work together to develop proprietary nutraceutical and cosmetics projects for Nu Skin to sell through their independent distributors. Toyo and Nu Skin will share scientific information as well as regulatory insights in an effort to create the new products.
Both companies are excited about the partnership and eager to get started on the creation of new products. “We expect this relationship with Nu Skin Enterprises to nicely complement our current expertise in natural health supplements,” said Yoshi Shiraishi, president and chief operating officer of Toyo Bio-Pharma. “We highly respect the industry-leading research and development capabilities of Nu Skin Enterprises. We believe there is a synergy between the two research teams that both companies can benefit from.”
Joseph Chang, Ph.D, Chief Scientific Officer and President of Product Development at Nu Skin, agrees, “We look forward to developing a robust relationship with joint development opportunities. “We are eager to leverage their knowledge of navigating regulatory requirements for skin care and supplements in Japan.”
The partnership between the two companies should prove to be beneficial to both companies. Toyo is a global pioneer in the use of fermentation and culturing of all natural ingredients to create effective nutraceutical and cosmetic products. That technology, partnered with Nu Skin’s products and enormous worldwide distribution force will no doubt prove to be very profitable for both companies.
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