Harbin Pharmaceutical, GNC to form joint venture

HARBIN - China's Harbin Pharmaceutical Group Holding Co., Ltd (Hayao) and GNC Holdings, Inc. (GNC) of the United States are in talks to form a joint venture to explore the Chinese health products market.

The two sides held a meeting on Friday in Harbin, capital of Northeast China's Heilongjiang province.

According to Hayao, the company will have 65 percent stake of the joint venture, which will have the exclusive right to manufacture and sell GNC products in the Chinese mainland.

GNC is an US health and wellness brand established in 1935.