LOS ANGELES -- (Business Wire)
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;
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our inability to obtain the necessary licenses to expand our direct
selling business in China;
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adverse changes in the Chinese economy;
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our dependence on increased penetration of existing markets;
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any material disruption to our business caused by natural disasters,
other catastrophic events, acts of war or terrorism, or cyber-security
incidents;
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contractual limitations on our ability to expand our business;
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our reliance on our information technology infrastructure and outside
manufacturers;
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the sufficiency of trademarks and other intellectual property rights;
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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;
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uncertainties relating to the United Kingdom’s vote to exit from the
European Union;
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restrictions imposed by covenants in our credit facility;
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uncertainties relating to the application of transfer pricing, duties,
value added taxes, and other tax regulations, and changes thereto;
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changes in tax laws, treaties or regulations, or their interpretation;
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taxation relating to our Members;
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product liability claims;
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our incorporation under the laws of the Cayman Islands;
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whether we will purchase any of our shares in the open markets or
otherwise; and
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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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171129006349/en/
Contacts:
Herbalife Nutrition
Jennifer Butler
jenb@herbalife.com
213-745-0420
Source: Herbalife Nutrition
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