China’s second largest life insurer, Ping An Insurance, is taking a 10 per cent stake in Japanese pharmaceutical company Tsumura – the world’s largest manufacture of Kampo herbal medicine – for 1.6 billion yuan (US$243 million).
The South China Post reports that the deal represents the biggest investment date by a Chinese company in Japan’s herbal medicine industry.
Tsumura, which was established and produces more than 120 products, claims an 84% share of the Kampo medicinal products market.
In a joint statement, the companies said: “Tsumura and Ping An Insurance decided to form a business alliance, believing that this will allow them to promote the further development of the traditional Chinese medicine business in China, contribute to the health care and health of the Chinese people, and build a business model that covers everything from quality standards for traditional Chinese medicines.”
What is Kampo medicine?
• Kampo medicine is a medical system that has been systematically organized based on the reactions of the human body to therapeutic intervention.
• With its roots in ancient Chinese medicine, this antecedent form of empirical medicine was introduced to Japan in approximately the 5th to 6th century
• It subsequently developed into a unique form of medicine by adapting to the climate and culture of Japan
• The word ‘Kampo’ was originally created to distinguish it from “rampo,” a term used to describe Western medicine that was introduced to Japan by the Dutch.
• According to one survey, 86.3% of the Japanese physicians currently prescribe Kampo medicines,