Nu Skin Enterprises, Inc. today announced that the company has signed a memorandum of understanding for a joint research and development relationship with Toyo Bio-Pharma, Inc.
(a subsidiary of Toyo Shinyaku, Japan), a natural products manufacturer with facilities in the United States and Japan. To facilitate this relationship, the companies established a new joint venture, NU Toyo Research, Inc., in the United States.
Nu Skin Enterprises is the first direct selling company to have such an agreement with Toyo Bio-Pharma. The companies’ collaborative development efforts will focus on sharing scientific and regulatory insights, as well as developing proprietary nutraceutical and cosmeceutical products for Nu Skin sales through its worldwide distribution network.
“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.”
Logo from Nu Skin Enterprises.
No comments yet.