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On 15 April 2025, Haleon plc entered into an agreement to acquire the remaining 12% equity interest in Tianjin TSKF Pharmaceutical Co., Ltd. from Tianjin Pharmaceutical Da Ren Tang Group Corporation Limited. 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, following a prior 33% acquisition in December 2024.
| Date | 15 Apr 2025 |
| Time | 10:00:00 |
| Category | Acquisitions and alliances |
| ID | 0871F |
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
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Investors |
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Jo Russell |
+44 7787 392441 |
Zoë Bird |
+44 7736 746167 |
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Rakesh Patel |
+44 7552 484646 |
Victoria Durman |
+44 7894 505730 |
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Emma White |
+44 7823 523562 |
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Email: [email protected] |
Email: [email protected] |
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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
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.