Hutchmed Regulatory News (HCM)

8 Oct 2009 07:00



Hutchison China MediTech Limited ("Chi-Med")

(AIM: HCM)

Chi-Med announces joint venture with The Hain Celestial Group to develop natural and organic consumer products in Asia 

London: Thursday, 8 October 2009: Chi-Med, the majority owned subsidiary of Hutchison Whampoa Limited ("Hutchison Whampoa"), with pharmaceutical and healthcare operations primarily in China, today announced the signing of a joint venture agreement between its wholly-owned subsidiary, Hutchison Organic Holdings Limited, and The Hain Celestial Group, Inc. (NASDAQ: HAIN), a leading natural and organic products company ("Hain Celestial"). The joint venture will market and distribute infant and toddler feeding products co-branded under the Earth's Best[R] and Zhi Ling Tong brand names as well as selected Hain Celestial brands in China and other markets which can leverage upon the worldwide retail network for product distribution of the Hutchison Whampoa group. Under the terms of the joint venture agreement, each partner will own 50% of a newly created entity, Hutchison Hain Organic Holdings Limited, to conduct this marketing and distribution business.

"We have established a strong foundation for our brands in North America and Europe and look to deepen our franchise and widen our reach into China and to Asia," said Irwin D. Simon, President and Chief Executive Officer of Hain Celestial. "Our joint venture with an esteemed partner in Chi-Med and Hutchison Whampoa accelerates our entry with a partner whose values and product portfolio are entirely consistent with ours."

Christian Hogg, Chief Executive Officer of Chi-Med, said, "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." 

Chi-Med has a strong position in pharmaceutical and healthcare products in China, including an extensive distribution network. With its highly respected Zhi Ling Tong brand, it also has a strong platform and rapidly growing sales in the Chinese infant nutrition supplements market. Hain Celestial is a leading natural and organic products company in North America and Europe, and Earth's Best[R] is one of the fastest growing established brands in infant feeding in the United States. Through its wholly owned A.S. Watson Group, Hutchison Whampoa is a major international retailer with over 8,400 retail shops in 34 markets. A.S. Watson has a strong presence in Asia with over 270 supermarkets and mega stores under the name PARKnSHOP and over 1,700 Watson's health and beauty stores. In Europe, it has over 1,600 luxury perfumery and cosmetics stores and over 4,700 health & beauty stores under brand names including Superdrug (UK), Marionnaud (France, Austria, Italy, Spain, Switzerland, and Portugal), Rossmann (Germany), Kruidvat, ICI Paris XL, and Trekpleister (Belgium and Netherlands).

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About Chi-Med 

Chi-Med (AIM: HCM) is the holding company of a pharmaceutical and healthcare group based primarily in China and was admitted to trading on the Alternative Investment Market of the London Stock Exchange in May 2006. It is focused on researching, developing, manufacturing, and selling pharmaceuticals, health supplements and other consumer health and personal care products derived from Traditional Chinese Medicine and botanical ingredients. Chi-Med is majority owned by Hutchison Whampoa Limited, an international company listed on the Main Board of The Stock Exchange of Hong Kong Limited. For more information, visit www.chi-med.com.

About The Hain Celestial Group

The Hain Celestial Group (NASDAQ: HAIN), headquartered in Melville, NY, is a leading natural and organic company in North America and Europe. Hain Celestial reported turnover of approximately USD 1.06 billion for the year ended 31 December 2008. Hain Celestial participates in almost all natural food categories with well-known brands that include Celestial Seasonings[R], Terra[R], Garden of Eatin'[R], Health Valley[R], WestSoy[R], Earth's Best[R], Arrowhead Mills[R], MaraNatha[R], SunSpire[R], DeBoles[R], Hain Pure Foods[R], Hollywood[R], Spectrum Naturals[R], Spectrum Essentials[R], Walnut Acres Organic[R], Imagine[R], Rice Dream[R], Soy Dream[R], Rosetto[R], Ethnic Gourmet[R], Yves Veggie Cuisine[R], Granose[R], Realeat[R], Linda McCartney[R], Daily Bread[TM], Lima[R], Grains Noirs[R], Natumi[R], JASON[R], Zia[R] Natural Skincare, Avalon Organics[R], Alba Botanica[R], Queen Helene[R], Tushies[R] and TenderCare[R]. Hain Celestial has been providing "A Healthy Way of Life[TM]" since 1993. For more information, visit www.hain-celestial.com.

About Hutchison Whampoa Limited ("Hutchison Whampoa")

Hutchison Whampoa is a leading international corporation committed to innovation and technology with businesses spanning the globe. Its diverse array of holdings range from some of the world's biggest port operators and retailers to property development and infrastructure to the most technologically-advanced and marketing-savvy telecommunications operators. Hutchison Whampoa reported turnover of approximately HKD 348 billion (USD 45 billion) for the year ended 31 December 2008. With operations in 54 countries and over 220,000 employees worldwide, Hutchison Whampoa has five core businesses - ports and related services; property and hotels; retail; energy and infrastructure, finance and investments, and others; and telecommunications. Hutchison Whampoa is among the largest companies listed on the main board of the Hong Kong Stock Exchange. Flagship companies include Hutchison Port Holdings, Hutchison Whampoa Properties, A S Watson, Cheung Kong Infrastructure and Hutchison Telecom. For more information, visit www.hutchison-whampoa.com.