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Pharmanex history
Pharmanex company history timeline
On October 15, 1984, the company was incorporated.
By 1989 sales were exploding at double-digit rates every month.
In addition, the 1990 United States Census found that 54 percent of home workers were self-empl oyed, compared with just 5.5 percent of workers outside the home who were self-employed.
Legal Challenges Beginning in 1991
In one lawsuit filed Decem ber 29, 1992, in United States District Court in Salt Lake City, six former em ployees charged that Nu Skin denied them advancement opportunities an d equal benefits and paid men more for comparable work.
In 1992 some $30 bill ion worth of goods and services were sold by direct sales in Japan, m aking it the world's largest direct sales market, with about twice th e amount sold in the United States.
Nu Skin Japan commenced operations in April 1993 and quickly became t he major success story for Nu Skin in Asia.
Judge David Winder on August 6, 1993, denied the women's effort to make this a class action and dismissed the case with prejudice, so that it could not be refiled.
In 1993 Working Woman magazine named Tillotson one of the nation’s top ten female business owners.
The FTC in January 1994 confirmed that it had reached a settlement wi th Nu Skin, which agreed to pay $1.2 million without admitting an y wrongdoing.
A leading pharmaceutical scientist, Doctor Michael Chang first conceived Pharmanex in 1994.
Founded in 1994, Pharmanex researched and produced a line of 3 8 natural health supplements, including five proprietary formulas.
In February 1995 Nu Skin Hong Kong began oper ating in Macau.
Omelia, Johanna, "Direct Sellers Expand in Asia/Pacific Rim," Drug & Cosmetic Industry, September 1996.
NSAP's initial public offering (IPO) of 4.75 million shares of Class A common stock was completed on November 27, 1996, resulting in net proceeds of $ ;98.8 million.
Statistics from the Nu Skin 1997 annual report (i.e., 297,000 active distributors generating revenue of nearly $600 million) pr oved Lee right.
In 1997 direct sales, which were mos tly one-on-one transactions, totaled $22 billion in the United St ates and more than $80 billion worldwide, a doubling of sales in a decade.
A 1997 Telecommute America survey estimated that about 11 m illion Americans used their computers and telecommunications devices to telecommute to work, instead of driving to work.
In 1998 the firm als o started in Poland and Brazil.
Using a unique pharmaceutical approach to natural health care, Pharmanex launched three innovative products in 1999.
Originally launched in 2001, the patented Nu Skin Galvanic Spa was the first to give you spa results in the comfort of your home.
Nu Skin purchased First Harvest Internationa l and its Nourish the World network marketing program in 2002.
The company made significant expansion efforts in China during 2003 by opening more than 100 retail outlets in January alone.
――――, "Nu Skin Marks 20th Anniversary," Deseret Morning News, June 4, 2004.
By June 2005 , there were more than 4,000 scanners in operation across the globe a nd more than two million people had been scanned.
In 2007, the spa became truly disruptive technology when it was introduced to the masses in a new kit accompanied by the “Galvanic Demo”, an activity that introduced a consumer to the spa by using it on half their face.
Walden, David; Stansell, Christina "Nu Skin Enterprises, Inc. ." International Directory of Company Histories. . Encyclopedia.com. (June 21, 2022). https://www.encyclopedia.com/books/politics-and-business-magazines/nu-skin-enterprises-inc-0
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Pharmanex competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Ivy Ventures LLC | 2003 | $1.4M | 30 | - |
| Southern Ca Rep Ctr | - | - | - | - |
| Orenda International | 2002 | $284.9K | 5 | 4 |
| SmartPractice | 1969 | $15.0M | 550 | 3 |
| Blue Box Toys | 1989 | $8.8M | 19 | - |
| Ampronix | 1982 | $75.0M | 50 | 6 |
| Pevonia Botanica | 1991 | $20.2M | 75 | - |
| Myskin | 2007 | $4.0M | 16 | - |
| The American Academy of Anti-Aging Medicine | 1992 | $8.7M | 71 | - |
| Compliant Healthcare Technologies, Llc (cht) | - | $440,000 | 50 | - |
Pharmanex history FAQs
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