The China Food and Drug Administration approves Syneron Medical's (ELOS -1.7%) elure Advanced Skin Brightening Lotion. It is a new cosmetic product originally available by prescription only. In clinical studies, the cream showed a statistically significant improvement in skin appearance with visible results in as little as 7 - 8 days.
In China, retail revenues of skin lightening products represent ~$2B of the ~$10B skin care market. 25 - 50% of consumers in Asia use skin lightening products on a daily basis.
elure is sold as a cosmetic in the U.S. and does not require regulatory approval.