Thorne Research and YouCare Pharmaceutical Group Announce Joint Venture Deal to Market Nutritional Supplements in China
Collaboration positions wide range of natural health products manufactured by Thorne Research for sale in rapidly expanding Chinese market.
SANDPOINT, Idaho, April 30, 2013 /PRNewswire/ — Thorne Research, Inc., a leader in developing and manufacturing pure, high-quality nutritional supplements and personal care products, today announced that the company has entered a joint venture with YouCare Pharmaceutical Group Co. Ltd., a leading Chinese pharmaceutical company located in Beijing. Through this new joint venture, nutritional supplements and other natural health and personal care products manufactured by Thorne Research will be marketed and distributed throughout mainland China through YouCare’s established sales and distribution networks.
“This strategic joint venture will allow Thorne to rapidly accelerate our global reach in one of the world’s largest and fastest growing markets for nutritional supplements. By combining the state-of-the-art research, development and manufacturing capabilities of Thorne Research with the extensive marketing resources and expertise of YouCare Pharmaceuticals, we are well positioned to become a leading lifestyle medicine company delivering high-quality, clinically proven nutraceutical products to markets throughout China in the years ahead,” said Paul Jacobson, CEO of Thorne Research.
In 2012, the market for nutraceuticals including traditional medicines in China was $90 billion USD, with an annual growth rate of 22%. It is expected that the market will be $140 billion USD within five years, which would make China the largest market for nutraceutical products in the world. Through this strategic collaboration, Thorne will be able to access the Chinese market through YouCare’s multiple sales and distribution channels. Under the joint venture agreement, Thorne will be responsible for manufacturing products in the United States and supporting marketing activities. Thorne’s manufacturing platform has been designed to conform to the rigorous chemical manufacturing controls (CMC) of botanical drug specifications instituted by the US Food and Drug Administration (FDA) and is FDA 231CFR211 compliant. YouCare will provide expertise in all areas of product registration, marketing, commercialization and distribution.
“YouCare Pharma has extensive experience in healthcare marketing and commercialization in China,” said Weishi Yu, Executive Chairman of YouCare Pharma “We are ideally positioned to tap into the large and rapidly expanding demand for nutraceuticals in China. Factors including economic growth and an aging population are likely to increase demand for high quality nutritional supplements and lifestyle management products in China in the years ahead. As a leader in producing and marketing lifestyle solutions, Thorne is the ideal partner for YouCare to meet this demand and grow our business in this field. Thorne’s strict attention to quality in manufacturing and full Therapeutic Goods Administration (TGA) certification will be important advantages for us in this effort.”
About Thorne Research, Inc.
Since 1984, Thorne Research has set the standard for exceptional quality manufacturing and formulation of premium hypoallergenic dietary supplements available through licensed health-care practitioners. With more than 400 products, Thorne Research is recognized by health-care practitioners as a leader in providing dietary supplements of the highest quality and purity. Through recent acquisitions and joint ventures, Thorne Research now also offers product lines that address the nutritional issues and requirements of those with cancer, cognitive and brain health, and cardiovascular health, in addition to a product line for high performance athletes, a comprehensive product line of organic, non-GMO skin-care products, and related supportive practice management programs. With locations in Sandpoint, ID and New York, NY, Thorne Research operates a state-of-the-art manufacturing facility and employs more than 250 people. Further information on Thorne Research is available at www.Thorne.com.
About YouCare Pharmaceutical Group Co., Ltd
YouCare Pharmaceutical Group was first founded in 1988 and registered in Beijing in 2001.The company currently has 16 subsidiary companies in China and one outside of China that are collectively engaged in R&D and product development including API, western medicine, TCMs, general health products, medical devices and contraceptives. YouCare’s business covers all phases of product development and distribution including R&D, production, inbound and outbound logistics, import/export and direct sales.
YouCare actively opens markets in pharmaceutical imports and exports and works to build cooperative ties with international pharmaceutical companies. The company has established relationships with many leading global companies in healthcare and has imported original research drug preparations and original API from Italy, France, Germany, Japan, Korea, India, Croatia and other regions.
SOURCE Thorne Research, Inc.