Nu Skin Enterprises announced 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."
"Toyo Bio-Pharma is a subsidiary of Toyo Shinyaku, which is one of the most reputable supplement and skin care manufacturers in Japan, and we look forward to developing a robust relationship with joint development opportunities," said Joseph Chang, Ph. D., chief scientific officer and executive vice president of product development at Nu Skin Enterprises. "We are eager to leverage their knowledge of navigating regulatory requirements for skin care and supplements in Japan."