Nestle and Chi-Med form Chinese medicine alliance

Nestle and Hutchison China Meditech, a drugmaker controlled by Li Ka-shing, have agreed to form an alliance to develop gastro-intestinal treatments based on traditional Chinese medicine.

Nestle Health Science and Chi-Med will each own half of the Nutrition Science Partners (NSP) venture, the companies said yesterday.

NSP will also take on an experimental medicine known as HMPL-004 and oversee late-stage clinical trials on treatments for ulcerative colitis and Crohn's disease.

via Business feed http://www.scmp.com/business/companies/article/1093415/nestle-and-chi-med-form-chinese-medicine-alliance