Nestl Health Science SA, a fully-owned subsidiary of Nestl SA, and Hutchison China MediTech have announced that all regulatory approvals required for the establishment of a 50/50 joint venture Nutrition Science Partners Limited have been received.
Hutchison China MediTech said that the purpose of the joint venture would be to research, develop, manufacture and market novel medicines and nutritional products derived from botanical plant origins.
The company added that Nutrition Science Partners would focus on gastrointestinal indications and could in the future expand into the metabolic disease and brain health areas.
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Hutchison China MediTech's share price was up 3.85% to 526.50p at 11:13 on Friday.
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