Salve the World

by swisscham in Hospitality, Retail, Tourism

Traditional Chinese medicine, or TCM, is now gaining in popularity in Western markets due to the increasing demand for a more modern and nature-friendly lifestyle. Last November, Nestle Health Science, a fully owned subsidiary of Nestle SA, and Chi-Med, the pharmaceutical and healthcare subsidiary of Hong Kong-based Hutchison Whampoa Ltd, agreed to form a 50-50 joint venture to research, develop, manufacture and market innovative nutritional and medicinal products derived from plants. In 2009, Switzerland-based Novartis AG announced TCM-related R&D in China and plans to spend RMB 500 million (USD 80 million) to merge and acquire Chinese TCM enterprises in the coming years.

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