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Herbalife Ltd. Reaches Agreement in Principle to Form Joint Venture with China’s Tasly Holding Group

2017年02月24日 AM06:05
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LOS ANGELES

Herbalife Ltd. (NYSE: HLF), a global nutrition company, today announced it has reached an agreement in principle to form a joint venture with Tasly Holding Group, a leading Traditional Chinese Medicine (TCM) health products and services corporation. The joint venture would develop and commercialize high-quality consumer health products based on Tasly’s deep portfolio of proprietary formulations, patents, know-hows, and clinical studies by leveraging the Herbalife Nutrition scientific, regulatory and commercial development expertise to bring products to a global market through the Herbalife Nutrition distributor network. The proposed joint venture furthers the Herbalife Nutrition business plan to expand its product range globally.

“We are honored to work with Tasly, which is well regarded for its premium TCM products and ingredients,” said Michael O. Johnson, chairman and CEO, Herbalife. “The Herbalife Nutrition seed to feed philosophy ensures the quality and traceability of our ingredients from cultivation to the final delivery of products to customers, and Tasly has patents, clinical research, and traceability of key ingredients, making this a natural partnership.”

Dr. Henry Sun, Vice-Chair of Tasly Holding Group, said, “We believe the combination of Tasly’s pharmaceutical development experience and experts, clinical research skills and network along with the two firms’ high-end quality control standards, will bring the best evidence-based products to consumers.”

Tasly manages a broad spectrum of leading pharmaceutical, consumer products, healthcare 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 TCM products.

The joint venture is expected to be finalized within the next 60 days.

About Herbalife:

Herbalife is a global nutrition company that has been changing people’s lives with great products since 1980. Our nutrition, weight-management, energy and fitness and personal care products are available exclusively to and through dedicated Herbalife Independent Members in more than 90 countries. We are committed to fighting the worldwide problems of poor nutrition and obesity by offering high-quality products, one-on-one coaching with an Herbalife Member and a community that inspires customers to live a healthy, active life.

We support the Herbalife Family Foundation (HFF) and its Casa Herbalife programs to help bring good nutrition to children in need. We also sponsor more than 190 world-class athletes, teams and events around the globe, including Cristiano Ronaldo, the LA Galaxy and champions in many other sports.

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 $4.5 billion in 2015. The Herbalife website contains a significant amount of financial and other information about the company at http://ir.Herbalife.com. The company encourages investors to visit its website from time to time, as information is updated and new information is posted. To learn more, visit Herbalife.com or IAmHerbalife.com.

About Tasly:

Tasly Holding Group Co., Ltd. was founded in 1994 and is based in Tianjin, China. As a high-tech enterprise group, with the core of the pharmaceutical operations, Tasly’s business includes Modern TCM, Chemical Medicine, Bio-pharmaceuticals, and high-quality consumer health products covering Scientific Research, Cultivation, Extraction, Formulation and Marketing. Tasly has created industrialized platform for TCM innovative development and intelligent manufacturing. Tasly has an extensive marketed product line and pipeline supported by strong patent portfolio including more than one thousand patents. The company has over 18,000 employees worldwide. The Tasly website contains a significant amount of information about the company and its products at http://www.tasly.com/en_web/.

FORWARD-LOOKING STATEMENTS

This earnings 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 market 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;
  • 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;
  • 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.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170223006511/en/

CONTACT

Herbalife Ltd.
Jen Butler, 213-745-0420
VP, Media Relations
jenb@herbalife.com
or
Investor
Contact:
Alan Quan, 213-745-0541
VP, Investor Relations
alanqu@herbalife.com

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