Haleon PLC Moves into Full Control of Tianjin Pharmaceutical JV, Boosting Its Stake in China's Thriving OTC Market

Haleon PLC, a major player in the global consumer health industry, has taken definitive steps to tighten its grip on the Chinese market. Announcing this motivating move, the company disclosed that it had reached an agreement to acquire the remaining 12% equity interest in Tianjin TSKF Pharmaceutical Co., Ltd., its joint venture in China. Prior to this, Haleon had bolstered its stake in the venture by 33% back in December 2024.

This latest transaction, carrying a grand total consideration of around RMB 1,623 million, is set to transform TSKF into a wholly owned subsidiary of Haleon. The funding strategy for this ambitious acquisition comprises a clever mix of Haleon’s existing cash reserves and new third-party Renminbi-denominated debt. With customary closing conditions, approvals from shareholders, and pertinent regulatory clearances in sight, Haleon anticipates wrapping up this acquisition deal within the next quarter.

On the whole, Haleon’s acquisition of TSKF symbolises the firm’s commitment to boosting its market standing and delivering better healthcare solutions to its Chinese consumers.