Nestle is growing in leaps and bounds. Chinese herbs already have thousands of years of proven use and it makes sense that a giant like Nestle would see the value in looking to Chinese herbs for the newest drugs. The new company, called Nutrition Science Partners (NSP), is to be owned equally by the two parties, Nestle said, without revealing any of the financials behind the deal. NSP will research, develop, make and sell nutritional and medicinal products derived from botanical plants, it said.
When I think of Nestle, I think of the chocolate chips cookies I use to make as a kid with Nestle chocolate chips. Yup, same company. In fact they own too many brands to mention and are the worlds largest food company.
The new herbal joint venture will hand Nestle's Health Science division access to Chi-Med's traditional Chinese medicine library, which includes more than 50,000 extracts from more than 1,200 different herbal plants is one of the world's largest, the statement said.
"Botanical are in the forefront in our view in the search for new medicines," the Chi-Med chief said.
Traditional Chinese plant-based medicines represented between 30% and 40% of all pharmaceutical sales in China, he added.
“This joint venture provides Nestlé Health Science with an opportunity to develop and commercialize truly innovative and scientifically validated botanical-based nutrition for personalized healthcare in gastro-intestinal health,” Nestle Health Science head Luis Cantarell said.
Nestle established the health science business early last year to develop personalized nutrition treatments for conditions such as diabetes, obesity and heart disease.
What do you think, good for the Chinese medicine world or not?