Still betting on Nvidia? Our AI picked this stock instead; it’s up 96%+ THIS MONTH
LONDON - Haleon plc (LSE/NYSE:HLN) has completed the acquisition of the remaining 12% equity interest in Tianjin TSKF Pharmaceutical (TADAWUL:2070) Co. Ltd (TSKF), its over-the-counter joint venture in China, the company announced Friday.
The transaction, which was previously announced on April 15, 2025, was finalized for a total consideration of RMB 1,623 million (approximately £0.2 billion). Following the completion, TSKF has become a wholly owned subsidiary of Haleon.
TSKF accounted for approximately 40% of Haleon’s China revenues in 2024 and manufactures and distributes brands including Fenbid, Voltaren and Bactroban. The joint venture has operated with what the company describes as a long heritage of operational excellence in the Chinese market.
China represents a key market for Haleon, with the company citing favorable structural drivers underpinning its business there. According to the press release statement, the acquisition aims to provide Haleon with increased strategic and operational flexibility in one of the fastest growing OTC markets globally.
The company stated that the acquisition aligns with its capital allocation priorities to drive returns for shareholders while maintaining a strong investment grade balance sheet.
Haleon is a global consumer health company whose portfolio spans six major categories including oral health, vitamins and supplements, pain relief, respiratory health, digestive health, and therapeutic skin health.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.