ASX-LISTED natural medicines company Eagle Health has entered into a research and development collaboration with the Monash University Food Innovation Centre in Melbourne.
The collaboration will conduct a literature review of the Dendrobium plant and its medicinal benefits, with results expected to "guide the Company's future product development and explore new product health claims," the company said in its ASX announcement yesterday.
Dendrobium is a genus of orchid, and the joint work with Monash follows "exponential growth in sales" last year, including Eagle's popular powdered sachet product.
Eagle Health ceo Zhang Mingwang said, "The Chinese Government has continued to support the development of TCM [Traditional Chinese Medicine] and the release of new variants of our successful Dendrobium product to ensure it is in line with the national strategy.
"While TCM is well understood throughout China, it is often supplied at small retail outlets and hence we believe our consumer-friendly packaging and ease of access, like other modern pharmaceutical products, has the potential to revolutionise this category," he said.
The Eagle ceo added that Dendrobium was "well understood by Chinese consumers to benefit gastrointestinal health," with the convenient formats and acceptance of the product key growth drivers.
Eagle Health's current Dendrobium range is sold in pharmacies, on-line and at the company's growing number of flagship stores across China.
New product formats include sun dried and ground powder forms, slices, cosmetics and oils.
They can be taken directly or included in food, and are also available in topical formats "as directed by a pharmacist," the company said.
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