合资史上的中美史克彻底谢幕！ 时代大潮下，40年合资匆匆过，如今已完成独资化！ 7月8日, 赫力昂（Haleon）宣布，已于近日完成对中美天津史克制药有限公司（以下简称"中美史 克"）剩余12%股份的收购。至此，中美史克终结了近40年的合资历史，赫力昂在完成了对原中方拥有 的45%的股权的收购后，成为中美史克真正的100%控股方。 合资经营40年后，达仁堂和天津史克终于走到了彻底分手的一天。4月16日，中药龙头津药达仁堂 集团股份有限公司（600329.SH，以下简称"达仁堂"）发布公告称，将其持有的中美天津史克制药有限 公司（以下简称"天津史克"）12%股权分别转让给赫力昂（中国）有限公司（4.6%）和瑞士公司Haleon CH SARL（7.4%），交易总金额达16.23亿元。而这场资本博弈始于2024年9月。当跨国药企的全球化 和本土战略不断调整之下，合资形态的企业性质越来越难适应企业的新发展战略。 别了，中美史克！轻轻的告别声在几代人的记忆烙印里深情回响。 为什么这一事件值得业界关注？除了新时代的商业布局因素外，还有这些知名合资企业在改革开放 时代记忆里、在中国医药市场上有着不可磨灭的功绩。他们带给中 ...

2025.07. 09 本文字数：1083，阅读时长大约2分钟 作者 | 第一财经 钱童心 2024年9月，赫力昂通过两笔交易完成了对中美史克的股权增持：达仁堂转让了13%的股权，天津医药集 团转让了20%的股权，赫力昂的持股比例从55%提升至88%。 公开信息显示，中美史克成立于1987年，由制药巨头葛兰素史克（GSK）与原天津中新药业集团（津药达 仁堂集团）、天津太平集团等共同设立的消费保健品公司。2022年7月，赫力昂从GSK分拆，正式成为一 家独立上市的专注于消费健康的公司。 中国医药市场在过去近40年发生了巨大的变化，最初以大输液、抗生素、抗真菌药、止痛药、消化道药物 等产品线行销中国的外资药企也在进行战略的调整，合资公司的形态或已无法适应时代的发展。 中美史克聚焦疼痛管理、呼吸健康、皮肤健康及消化健康等品类，拥有芬必得、新康泰克、百多邦、扶他 林和辅舒良等非处方药品牌。其中，芬必得在中国止痛药市场中长期占据前三的位置。 中国消费人群对于健康的需求与日俱增，已经跃升成为仅次于美国的全球第二大健康消费市场，这给专注 于消费健康的跨国企业提供了巨大的机遇。全资收购中美史克，也将进一步强化赫力昂在中国非处 ...

中国医药市场在过去近40年发生了巨大的变化，最初以大输液、抗生素、抗真菌药、止痛药、消化道药物等产品线行销中国的外资药企也在进行战略的调 整，合资公司的形态或已无法适应时代的发展。 7月8日，赫力昂宣布已于近日完成对其非处方药合资企业——中美天津史克制药有限公司（以下简称"中美史克"）剩余12%股份的收购。至此，赫力昂已完 成对原中方拥有的全部45%股权的收购。中美史克正式成为赫力昂全资控股的子公司，终结了近40年的合资历史。 中国消费人群对于健康的需求与日俱增，已经跃升成为仅次于美国的全球第二大健康消费市场，这给专注于消费健康的跨国企业提供了巨大的机遇。全资收 购中美史克，也将进一步强化赫力昂在中国非处方药领域的布局。 近年来中美史克也加速了在中国区域市场的布局，在成都、西安、上海、广州等地设立了分公司，以推动产品在下沉市场的渗透。 赫力昂中国大陆及香港地区总经理顾海英此前对第一财经记者表示，赫力昂为中国消费者提供了广泛的产品线，并且不断有新产品推出，覆盖了健康领域的 方方面面。中国消费者对健康的关注和在健康营养领域的消费意愿仍在提升。 "人们对营养保健品的需求会增加，尤其是对提升免疫力的需求会增加。"顾海 ...

Group 1 - Nearly 70% of British companies in China are optimistic about their business prospects over the next 5 to 10 years and plan to increase investments in China [1][6] - The UK is China's second-largest trading partner after the US, highlighting the importance of the Chinese market for global brands [3][6] - The shift in Chinese consumer behavior from "purchasing" to "experiencing" brands emphasizes the need for companies to focus on the experiential aspect of their products [3][5] Group 2 - The presence of social media has simplified market entry for companies, allowing them to focus on online platforms rather than traditional brick-and-mortar stores [4][5] - The Chinese government has implemented policies to boost domestic consumption and reduce market entry barriers, which are beneficial for foreign businesses [5][6] - The UK-China trade relationship is characterized by strong complementarity, with the UK being a significant investment destination for Chinese companies [6][8] Group 3 - The UK government has suspended tariffs on 89 products to alleviate the burden on businesses, which is expected to save around £17 million annually [7] - The British market, while smaller than China's, remains vibrant and open, providing opportunities for international brands [6][7] - The British Chamber of Commerce is actively working to assist small and medium-sized enterprises (SMEs) in entering the Chinese market [6]

Core Viewpoint - Daren Tang plans to sell its 12% stake in Tianjin Sihke Pharmaceutical Co., Ltd. for a total price of 1.623 billion yuan, marking a complete exit from the shareholder list of Tianjin Sihke [1] Group 1: Transaction Details - The transaction is expected to bring an investment gain of 1.54 billion yuan for the current period [1] - Daren Tang's market capitalization is 23.462 billion yuan, with a previous closing price of 30.47 yuan [1] - The stake is being sold to Helion (China) Co., Ltd. and Haleon CH SARL [1] Group 2: Financial Implications - The sale represents a significant short-term financial gain for Daren Tang, which had previously earned 245 million yuan from this investment in 2023, accounting for 25% of the company's net profit [1] - The funds from the transaction are intended for business expansion, including strategic acquisitions, R&D projects, new product development, market expansion, and general corporate purposes [1] Group 3: Business Performance Challenges - Daren Tang's main business performance is declining, with industrial revenue of 4.491 billion yuan, down 437 million yuan year-on-year, and commercial revenue of 3.113 billion yuan, down 649 million yuan year-on-year [2] - Key products have seen a decrease in sales, with a non-recurring net profit dropping by 21.62% to 746 million yuan, indicating a fatigue in main business growth [2] - The complete divestment from Tianjin Sihke may pose challenges for Daren Tang in terms of strategic execution and the ability to cultivate new business opportunities [2] Group 4: Future Growth Considerations - The ability of Daren Tang to effectively utilize the proceeds from the sale to drive future growth will be critical [2] - Without a clear industrial logic and implementation path, there is a risk of resource waste and management challenges with the large sum of cash on hand [2] - The sale of Tianjin Sihke is seen as a starting point, with the real challenge lying in how to leverage the funds for the next growth phase [2]