(Yicai Global) Nov. 22 -- Japan's Fujifilm Holdings Corp. [TOKYO:4901] will partner with China's state-owned China Resources (Holdings) Co. to break into the traditional Chinese medicine (TCM) market, the Nikkei newspaper reported. Along with the Chinese market, they also plan to expand TCM sales in Japan and other Asian markets.
China Resources will reportedly use purification technology Fujifilm provides to fully extract active TCM compounds for refinement to ease their absorption by the body, thus developing TCM products with enhanced therapeutic effects.
China Resources will also help China-side distribution of Fujifilm products -- drugs and medical equipment -- by aiding in license applications and, after relevant licenses issue, giving hospitals China Resources owns therapeutic drugs such as those Fujifilm developed to treat influenza and rheumatism.
Fujifilm invested about JPY11 billion (USD100,000) in China Resources Pharmaceutical Group Ltd. -- owned by China Resources -- for a one percent stake in October. Teaming up will allow the two to widely collaborate in pharmaceuticals, medical equipment and regenerative medicines.