I personally do not believe in whatever that has 'placenta' or 'stem cells' inside. Actually what gave me a bad impression is that one of my friends is pushing very hard to sell the sheep placenta, keep asking me to buy starter kit, almost RM10k! To me, if the product is good, you shouldn't make it a requirement for me to buy a certain amount the first time, should let me try and make a decision for myself. Anyway, this was what made me think that it's another craze gimmick product.
Secondly, i asked a doctor about it if he believed in these products. He just explained to me that these stem cells or placenta are very sensitive, and only can survive at a certain temperature. So most of those in bottles are probably 'dead' stem cells without nutrients.