PROVO, Utah, July 28 Nu Skin Enterprises, Inc.(NYSE: NUS) today announced that the company has signed a memorandum ofunderstanding for a joint research and development relationship with ToyoBio-Pharma, Inc. (a subsidiary of Toyo Shinyaku, Japan), a natural productsmanufacturer with facilities in the United States and Japan. To facilitatethis relationship, the companies established a new joint venture, NU ToyoResearch, Inc., in the United States.
Nu Skin Enterprises is the first direct selling company to have such anagreement with Toyo Bio-Pharma. The companies' collaborative developmentefforts will focus on sharing scientific and regulatory insights, as well asdeveloping proprietary nutraceutical and cosmeceutical products for Nu Skinsales through its worldwide distribution network.
"We expect this relationship with Nu Skin Enterprises to nicely complementour current expertise in natural health supplements," said Yoshi Shiraishi,president and chief operating officer of Toyo Bio-Pharma. "We highly respectthe industry-leading research and development capabilities of Nu SkinEnterprises. We believe there is a synergy between the two research teams thatboth companies can benefit from."
"Toyo Bio-Pharma is a subsidiary of Toyo Shinyaku, which is one of themost reputable supplement and skin care manufacturers in Japan, and we lookforward to developing a robust relationship with joint developmentopportunities," said Joseph Chang, Ph. D., chief scientific officer andexecutive vice president of product development at Nu Skin Enterprises. "Weare eager to leverage their knowledge of navigating regulatory requirementsfor skin care and supplements in Japan."
About Toyo Bio-Pharma
Toyo Bio-Pharma(TM) (http://www.toyobiopharma.com) is a subsidiary of ToyoShinyaku Co., Ltd., a research-driven manufacturer committed to providingconsumers and clients with high-value ingredients derived from nature. Withthe most advanced instrumentation, continuous research and commitment toquality and integrity, Toyo Shinyaku is pioneering the use of fermentation andculturing to produce beneficial, effective products for use in thenutraceutical, functional food and cosmeceuticals industries. Toyo Shinyakuis Japan's largest developer of FOSHU (Food for Specialized Health Use)products and ODM (Original Design Manufacturer) of supplement and skin careproducts. Toyo Shinyaku follows rigorous standards of ISO 9001:2000 and ISO22000:2005, and was one of the first Japanese companies to become Food andDrug Administration (FDA) Good Manufacturing Practices (GMP)-compliant forfood products and dietary supplements.
About Nu Skin Enterprises
Nu Skin Enterprises, Inc. is a global direct selling company operating in47 markets throughout Asia, the Americas and Europe. The company marketspremium-quality personal care products under the Nu Skin(R) brand,science-based nutritional supplements under the Pharmanex(R) brand, andtechnology-based products and services under the Big Planet(R) brand. Nu SkinEnterprises is traded on the New York Stock Exchange under the symbol "NUS."More information is available at http://www.nuskinenterprises.com.
SOURCE Nu Skin Enterprises, Inc.