Haleon PLC - Weybridge, Surrey-based consumer healthcare firm that spun-out of GSK PLC in 2022 - Says it has completed its acquisition of an additional 33% stake in Tianjin TSKF Pharmaceutical Co Ltd, its joint venture in China, bringing its total stake to 88%. The equity interest was acquired from its joint venture partners, Tianjin Pharmaceutical Group and Tianjin Pharmaceutical Da Ren Tang Group Corp Ltd for a total of ¥4.47 billion, around £500 million. The transaction completed following approval by Da Ren Tang shareholders at the group’s extraordinary meeting in November. Haleon now has the option to acquire Da Ren Tang’s remaining 12% shareholding in TSKF. The joint venture accounted for around 40% of Haleon’s China revenue in financial 2023.

Current stock price: 373.30 pence, down 0.2% in London on Tuesday morning

12-month change: up 15%

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