GNC's New Partner Brings China Access And Funding, Takes Board Seats

As GNC reports substantially trimming its net losses in its 2017 fourth-quarter and full-year results, it announces Harbin Pharmaceutical will invest around $300m in GNC, becoming the single largest shareholder, and the two firms will form a JV for manufacturing, marketing and distributing GNC-branded products in China. With the investment, GNC's board expands from six to 11 members, comprising GNC CEO Ken Martindale, five appointed by Harbin and five by GNC.