Bloomberg News (12/12, Loo) reports
GlaxoSmithKline Plc is testing botanical extractions "for immune
disorders, " Sanofi is planning to "turn traditional Chinese
medicines into alternative diabetes and cancer therapies," and Nestle SA
in November, joined forces with "billionaire Li Ka-Shing to develop a drug
derived from ancient Chinese approaches to cure inflammatory bowel
disease." According to consultants at McKinsey & Co., China's
"market for traditional drugs, excluding raw herbs and highly purified
compounds extracted from herbs, was $13 billion in 2011 and could grow 14
percent annually over the next five years." The consultancy suggested US
"rules for approving plant-based treatments may give drugmakers a quicker
path to creating medicines, with more than 500 applications to test treatments
lodged" with the FDA. The agency "introduced new guidelines for
botanical treatments in 2004, applying less strict conditions to those imposed
on chemical and biological drugs seeking approval."
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