01 Aug 2012, BioSpectrum Bureau , BioSpectrum
Singapore: Otsuka Pharmaceutical reached an agreement to establish a joint venture (JV) in the functional food and beverage category, called Otsuka Thang Nutrition. This new JV is expected to launch Pocari Sweat in Vietnam starting the middle of August 2012 and will mark the 17th market where the beverage is sold.
Pocari Sweat was first developed in 1980 under the concept of a 'replenishment drink' and is designed to quickly replace water and electrolytes in the body lost due to perspiration. The beverage has become popular outside of Japan, especially in Asia. Today some 30 years after it was released, the overseas sales volumes of Pocari Sweat have outstripped sales in Japan.
Otsuka first became acquainted with the new JV partner through the Vietnam IV solution business in 2002. As this partner is well versed in the fast moving consumer goods (FMCG) business as well as the IV solution business, Otsuka Pharmaceutical decided to form a JV in 2012 for functional foods and beverage and launch Pocari Sweat.
Going forward, Otsuka Pharmaceutical plans to expand operations in Vietnam as a total healthcare company by leveraging the trust it has earned in the market among healthcare professionals.