REG - Haleon PLC - Increase ownership of China JV to 100%

HALEONAnnouncement

15/04/2025 10:15

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RNS Number : 0871F  Haleon PLC  15 April 2025

 

Haleon plc: Increase ownership of China JV to 100%

15 April 2025: Haleon plc (the "Company" or "Haleon") announces that following
the acquisition of a 33% equity interest in Tianjin TSKF Pharmaceutical Co.,
Ltd. ("TSKF"), its OTC joint venture in China in December 2024, it has today
entered into an agreement to acquire the remaining 12% equity interest from
its partner Tianjin Pharmaceutical Da Ren Tang Group Corporation Limited
("DRTG"). This transaction is for a total consideration of RMB 1,623 million
(c. £0.2 billion) and will result in TSKF becoming a wholly owned subsidiary
of Haleon.

 

The acquisition is expected to be funded through a combination of Haleon's
existing cash resources and new third-party Renminbi-denominated debt. Subject
to customary closing conditions, including the approval of DRTG's shareholders
and applicable regulatory clearances, the transaction is expected to close
within the next three months.

 

Enquiries

 

 Investors                                                                         Media

 Jo Russell                               +44 7787 392441                          Zoë Bird                              +44 7736 746167
 Rakesh Patel                             +44 7552 484646                          Victoria Durman                       +44 7894 505730
 Emma White                               +44 7823 523562

 Email: investor-relations@haleon.com (mailto:investor-relations@haleon.com)       Email: corporate.media@haleon.com (mailto:corporate.media@haleon.com)

 

About Haleon

Haleon (LSE/NYSE: HLN) is a global leader in consumer health, with a purpose
to deliver better everyday health with humanity. Haleon's product portfolio
spans five major categories - Oral Health, Pain Relief, Respiratory Health,
Digestive Health and Other, and Vitamins, Minerals and Supplements (VMS). Its
long-standing brands - such as Advil, Sensodyne, Panadol, Voltaren, Theraflu,
Otrivin, Polident, parodontax and Centrum - are built on trusted science,
innovation and deep human understanding.

 

For more information please visit www.haleon.com (http://www.haleon.com)

 

About TSKF

Founded in 1984, TSKF is a joint venture of Haleon, TPG and DRTG in China.
TSKF is a leading OTC company that manufactures and distributes renowned
products under Haleon's brands in China, such as Fenbid, Contac, Bactroban,
Voltaren and Flixonase in major therapeutic areas such as Pain Relief,
Respiratory Health and Skin Health.

 

About DRTG

DRTG (SHSE: 600329 / SGX: T14) is the core pharmaceutical manufacturing arm of
TPG. DRTG is engaged in the research, development and manufacturing of Chinese
herbal medicines, proprietary Chinese medicines, western medicine, and other
products primarily in China. The company is also involved in the wholesale and
retail of medicines in China. DRTG was founded in 1981 and listed on the
Singapore Stock Exchange and the Shanghai Stock Exchange.

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