Hutchison China MediTech Limited
Hutchison China MediTech Limited (Chi-Med) is the holding company of a pharmaceutical and healthcare group, which is engaged in the research, development, manufacture and sale of pharmaceuticals, health supplements and other consumer health and personal care products derived from traditional Chinese medicine (TCM) and botanical ingredients. The Company operates in three main areas: China healthcare, which comprises the development, manufacture, distribution and sale of TCM pharmaceuticals and health supplements; consumer products business, which relates to TCM-based consumer products sold through retail stores, and drug research and development, which relates mainly to pharmaceutical research and development. The Company is developing Sen as a TCM consumer brand in TCM medicines and treatments, food and beverage, and skin and body care products through its own network of retail stores.
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Hutchison China MediTech forms JV with Hain Celestian to market toddler dining products
Hutchison Whampoa's subsidiary Hutchison China MediTech Limited (AIM:HCM) said today its wholly owned subsidiary Hutchison Organic Holdings Limited entered into a joint venture (JV) agreement with The Hain Celestial Group (NASDAQ:HAIN) to market and distribute infant and toddler feeding products in China and other markets.
Each partner will hold 50 percent in the JV called Hutchison Hain Organic Holdings Limited. The products will be co-branded under the Earth-s Best and Zhi Ling Tong brand names as well as selected Hain Celestial brands.
"Tapping into Hain Celestial's know-how in natural and organic infant feeding is an important step forward in Chi-Med's strategy. The joint venture leverages Chi-Med's extensive China distribution network and significantly adds to our platform in infant nutrition, one of China's fastest growing categories. It also capitalises on the long-established relationships and international retail strengths of Hutchison Whampoa to grow Hain Celestial's portfolio of brands in the region, to our mutual benefit," said Chief Executive of Chi Med Christian Hogg.
Chi-Med rallied 10 percent in early trade following the release of the announcement.
