Thorne Research Inc., a leader in developing and manufacturing pure, high-quality nutritional supplements and personal care products, 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 percent. 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.”