To further advance healthier living through good nutrition,
premier global nutrition company Herbalife (NYSE:HLF) today
announced it has entered into a framework agreement with Tasly
Holding Group, a leading Chinese healthcare corporation. Herbalife
Nutrition CEO, Rich Goudis; CFO, John DeSimone; and Chairman of
Herbalife China, Dr. Qun Yi Zheng, joined Chairman of Tasly Holding
Group, Xijun Yan; Executive Chairman, Kaijing Yan; CFO, Fucai Pei;
and General Manager of Tasly’s International Strategic Investment
and M&A, Dr. Lei Gao, for the signing ceremony of a framework
agreement, which pending approval by the Chinese regulatory
agencies, will lead to the formation of a joint venture between
Herbalife Nutrition and Tasly in the United States. This joint
venture is anticipated to create a conduit to develop and
commercialize high-quality consumer health products based on
Tasly's deep portfolio of formulations, patents, and clinical
studies, while leveraging Herbalife Nutrition’s scientific,
regulatory and commercial development expertise. Moreover,
Herbalife Nutrition expects its worldwide network of independent
distributors to provide an opportunity to bring the joint venture’s
products to a global market.
“We are honored to form a joint venture with Tasly, a leading
developer of health products and services in China. Our
philosophies of improving the wellness of our communities are
completely aligned and we expect this new joint venture will
significantly expand the distribution of important nutrition
products around the globe,” said Rich Goudis.
Herbalife Nutrition began China operations in 2005 and now
operates three facilities in Nanjing, Changsha, and Suzhou,
currently producing 60 million units annually. The Company is
licensed to operate in 28 provinces, employs more than 1,300 people
in China, and has approximately 60,000 service providers, and
approximately 270,000 sales representatives.
Kaijing Yan said, "We believe the combination of Tasly's
research and development capabilities, clinical trial skills and
Herbalife’s global distribution network outside of China, along
with the two firms' high-end quality control standards, will bring
the best health products to consumers."
Tasly manages a broad spectrum of leading consumer products,
health services and distribution channels in China. As a pioneer of
TCM modernization, Tasly, through innovations in standards and
technologies, has created a manufacturing and development process
and set up a comprehensive, standardized and digital system which
produces high-quality consumer health products.
About Herbalife Nutrition
Herbalife Nutrition is a global nutrition company whose purpose
is to make the world healthier and happier. The Company has been on
a mission for nutrition - changing people's lives with great
nutrition products & programs - since 1980. Together with our
Herbalife Nutrition independent distributors, we are committed to
providing solutions to the worldwide problems of poor nutrition and
obesity, an aging population, skyrocketing public healthcare costs
and a rise in entrepreneurs of all ages. We offer high-quality,
science-backed products, most of which are produced in
Company-operated facilities, one-on-one coaching with an Herbalife
Nutrition independent distributor, and a supportive community
approach that inspires customers to embrace a healthier, more
active lifestyle.
Our targeted nutrition, weight-management, energy and fitness
and personal care products are available exclusively to and through
dedicated Herbalife Nutrition distributors in more than 90
countries.
Through its corporate social responsibility efforts, Herbalife
Nutrition supports the Herbalife Family Foundation (HFF) and its
Casa Herbalife programs to help bring good nutrition to children in
need. The Company is also proud to sponsor more than 190
world-class athletes, teams and events around the globe, including
Cristiano Ronaldo, the LA Galaxy, and numerous Olympic teams.
The company has over 8,000 employees worldwide, and its shares
are traded on the New York Stock Exchange (NYSE: HLF) with net
sales of approximately $4.5 billion in 2016. To learn more, visit
Herbalife.com or IAmHerbalife.com.
The company also encourages investors to visit its investor
relations website at ir.herbalife.com as financial and other
information is updated and new information is posted.
About Tasly:
Incorporated in 1994, Tasly Holding Group is a high-tech
healthcare corporation with headquarters in Tianjin, China, with
company philosophy of “seeking for harmonization between human and
nature, and improving humankind’s life quality” and company mission
“to share the joy of health with all”. Tasly Holding Group conducts
several businesses under its subsidiaries, including
pharmaceuticals, pharmacies, health services and health management,
and consumer health products. Among them, Tasly Pharmaceutical
Group is a listed subsidiary of Tasly Holding Group, which conducts
pharmaceutical research and development, manufacturing, marketing
and distribution business covering Modern TCM, Chemical, and
Biological products. Apart from that, some other subsidiaries focus
on consumer health products from raw material cultivation all the
way to finished product marketing and selling. Tasly has an
extensive marketed product line and pipeline supported by strong
patent portfolio. With enormous efforts on technology innovation,
Tasly has also created an industrialized platform for product
innovation and digitalized intelligent manufacturing. The company
has over 20,000 employees worldwide. The Tasly website contains a
significant amount of information about the company and its
products at https://en.tasly.com/.
FORWARD-LOOKING STATEMENTS
This release contains “forward-looking statements” within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Although we believe that the
expectations reflected in any of our forward-looking statements are
reasonable, actual results could differ materially from those
projected or assumed in any of our forward-looking statements. Our
future financial condition and results of operations, as well as
any forward-looking statements, are subject to change and to
inherent risks and uncertainties, such as those disclosed or
incorporated by reference in our filings with the Securities and
Exchange Commission. Important factors that could cause our actual
results, performance and achievements, or industry results to
differ materially from estimates or projections contained in our
forward-looking statements include, among others, the
following:
- our relationship with, and our ability
to influence the actions of, our Members;
- improper action by our employees or
Members in violation of applicable law;
- adverse publicity associated with our
products or network marketing organization, including our ability
to comfort the marketplace and regulators regarding our compliance
with applicable laws;
- changing consumer preferences and
demands;
- the competitive nature of our
business;
- regulatory matters governing our
products, including potential governmental or regulatory actions
concerning the safety or efficacy of our products and network
marketing program, including the direct selling markets in which we
operate;
- legal challenges to our network
marketing program;
- the consent order entered into with the
FTC, the effects thereof and any failure to comply therewith;
- risks associated with operating
internationally and the effect of economic factors, including
foreign exchange, inflation, disruptions or conflicts with our
third party importers, pricing and currency devaluation risks,
especially in countries such as Venezuela;
- uncertainties relating to
interpretation and enforcement of legislation in China governing
direct selling and anti-pyramiding;
- our inability to obtain the necessary
licenses to expand our direct selling business in China;
- adverse changes in the Chinese
economy;
- our dependence on increased penetration
of existing markets;
- any material disruption to our business
caused by natural disasters, other catastrophic events, acts of war
or terrorism, or cyber-security incidents;
- contractual limitations on our ability
to expand our business;
- our reliance on our information
technology infrastructure and outside manufacturers;
- the sufficiency of trademarks and other
intellectual property rights;
- product concentration;
- our reliance upon, or the loss or
departure of any member of, our senior management team which could
negatively impact our Member relations and operating results;
- U.S. and foreign laws and regulations
applicable to our international operations;
- uncertainties relating to the United
Kingdom’s vote to exit from the European Union;
- restrictions imposed by covenants in
our credit facility;
- uncertainties relating to the
application of transfer pricing, duties, value added taxes, and
other tax regulations, and changes thereto;
- changes in tax laws, treaties or
regulations, or their interpretation;
- taxation relating to our Members;
- product liability claims;
- our incorporation under the laws of the
Cayman Islands;
- whether we will purchase any of our
shares in the open markets or otherwise; and
- share price volatility related to,
among other things, speculative trading and certain traders
shorting our common shares.
We do not undertake any obligation to update or release any
revisions to any forward-looking statement or to report any events
or circumstances after the date hereof or to reflect the occurrence
of unanticipated events, except as required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20171129006349/en/
Herbalife NutritionJennifer
Butlerjenb@herbalife.com213-745-0420
Herbalife (NYSE:HLF)
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