Chinese herbal medicines group puts down US roots through acquisition
This article was originally published in Scrip
Multinational pharma companies usually buy Chinese firms for quick access to the Chinese market, but now one traditional Chinese medicine (TCM) company is using the same tactic to expand in the West. China Health Resource (CHRI), based in Suining, Sichuang province, has filed a letter of intent to acquire up to 100% of Herborium Group, a US operation specialising in botanical products.
You may also be interested in...
The road to China's health-care market, once seen to be paved with gold by many medtech companies, is presenting more obstacles than before as a result of increased local competition and challenging policies. Multinationals and start-ups attending the recent China Healthcare Investment Conference discussed ways in which the medtech industry could continue to capitalize on this market's potential.
China is pushing ahead with initiatives in the precision medicine area, where it sees targeted diagnosis and treatment as particularly valuable in areas such as oncology, diabetes and cardiovascular disorders.
The China Food and Drug Administration has released the final version of its biosimilars guideline1.