Nestle to commence selling traditional Chinese medicine & nutrition products
November 30, 2012, 12:35 am TWN
VIENNA -- Nestle will start developing nutrition products and medicines based on traditional Chinese herbal medicine, the world's biggest food maker announced Wednesday at its Swiss headquarters in Vevey.
The company has agreed to form a joint venture with Chi-Med, a medicine and health supplement producer in Hong Kong that is owned by the Hutchison Whampoa conglomerate. The deal will enable Nestle to tap into Chi-Med's library of traditional Chinese medical herbs, one of the largest of its kind.