Perrigo, Hain Celestial And Hutchison China MediTech Bring Earth's Best Organic® Infant Formula To $16.5 Billion China Formula Market
DUBLIN, Oct. 8, 2015 /PRNewswire/ -- Perrigo Company plc (NYSE: PRGO; TASE), announced today that The Hain Celestial Group, Inc. (Nasdaq: HAIN) through its Earth's Best® brand, has begun to sell organic infant formula in Hong Kong and China, through Hutchison Hain Organic Holdings Limited ("HHO"), Hain Celestial's joint venture with Hutchison China MediTech Limited ("Chi-Med") (LSE AIM: HCM). Chi-Med's majority owner, CK Hutchison Holdings Limited, is one of the largest companies in Asia, with a rich history and core retail business. According to Euromonitor data, sales of formula in China exceeded $16.5 billion in 2014.
Perrigo, a top five global over-the-counter (OTC) consumer goods and pharmaceutical company, is a leading U.S. manufacturer and supplier of infant formula. Perrigo produces infant formulas for world markets in FDA-inspected, ISO 9001:2008-certified, cGMP facilities based in the United States. Hain Celestial is a leading organic and natural products company with operations in North American, Europe and India.
Perrigo's Chairman, President and CEO, Joseph C. Papa stated, "We are excited to announce the entry of Hain Celestial's Earth's Best Organic® Infant Formula into the Hong Kong and Chinese market. Infant formula is a premium product in China, and we believe Earth's Best® organic formula will be an attractive offering to families in Hong Kong and Mainland China."
"Hain Celestial's Earth's Best Organic® brand continues to grow in the United States and is well positioned as a premium organic infant formula brand for Chinese consumers," said Irwin D. Simon, Founder, President and Chief Executive Officer of Hain Celestial. "We are pleased to work with Chi-Med, which has retail distribution, marketing, and sales support throughout Hong Kong and Mainland China."
Christian Hogg, Chi-Med's CEO, said: "This exciting collaboration with Hain Celestial and its Earth's Best® brand, along with our infant formula supplier Perrigo, to provide Earth's Best Organic® premium, high quality formula will allow us to leverage our considerable commercial presence in China against a highly attractive and fast-growing commercial opportunity. Earth's Best® is a very recognizable U.S. organic formula brand, and we look forward to helping grow its distribution and business in China."
Perrigo Company plc is a top five global OTC consumer goods and leading specialty pharmaceutical company, offering patients and customers high-quality products at affordable prices. From the Company's beginning in 1887 as a packager of home remedies, it has grown to become the world's largest manufacturer of OTC healthcare products and supplier of infant formulas for the store brand market. The Company is also a leading provider of generic extended topical prescription products, and it receives royalties from sales of the multiple sclerosis drug Tysabri®. The Company provides "Quality Affordable Healthcare Products®" across a wide variety of product categories and geographies, primarily in North America, Europe and Australia, as well as in other markets, including Israel and China. Visit Perrigo online at (http://www.perrigo.com).
About Hain Celestial
The Hain Celestial Group (NASDAQ: HAIN), headquartered in Lake Success, NY, is a leading organic and natural products company with operations in North America, Europe and India. Hain Celestial participates in many natural categories with well-known brands that include Celestial Seasonings®, Earth's Best®, Ella's Kitchen®, Terra®, Garden of Eatin'®, Sensible Portions®, Health Valley®, Arrowhead Mills®, MaraNatha®, SunSpire®, DeBoles®, Casbah®, Rudi's Organic Bakery®, Gluten Free Cafe™, Hain Pure Foods®, Spectrum®, Spectrum Essentials®, Walnut Acres Organic®, Imagine®, Almond Dream®, Rice Dream®, Soy Dream®, WestSoy®, The Greek Gods®, BluePrint®, FreeBird®, Plainville Farms®, Empire Kosher®, Kosher Valley®, Yves Veggie Cuisine®, Europe's Best®, Cully & Sully®, New Covent Garden Soup Co.®, Johnson's Juice Co.®, Farmhouse Fare®, Hartley's®, Sun-Pat®, Gale's®, Robertson's®, Frank Cooper's®, Linda McCartney®, Lima®, Danival®, Joya®, Natumi®, GG UniqueFiber®, Tilda®, JASON®, Avalon Organics®, Alba Botanica®, Live Clean® and Queen Helene®. Hain Celestial has been providing A Healthier Way of Life™ since 1993. For more information, visit www.hain.com.
Chi-Med is a China-based globally-focused healthcare group which researches, develops, manufactures and sells pharmaceuticals and health-related consumer products. Its Innovation Platform focuses on discovering and developing innovative therapeutics in oncology and autoimmune diseases for the global market. Its Commercial Platform manufactures, markets, and distributes prescription drugs and consumer health products in China. Chi-Med is majority owned by the multinational conglomerate CK Hutchison Holdings Limited (SEHK: 0001). For more information, please visit: www.chi-med.com.
Certain statements in this presentation are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. These statements relate to future events or the Company's future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "potential" or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond the Company's control. These and other important factors, including those discussed under "Risk Factors" in the Perrigo Company's Form 10-K for the year ended June 28, 2014, as well as the Company's subsequent filings with the Securities and Exchange Commission, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this presentation are made only as of the date hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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