Known as Caltrate Soft Capsules, the product is formulated with vitamin D3 and vitamin K.
It was launched in China last year and is only available in that market.
Revenue of Haleon's bone health supplement brand Caltrate grew double digits for the first six months of 2024. This was largely led by consumer demand and product innovations launched in China.
“We’re driving the performance of Caltrate with Caltrate Capsules in China via a scientific claim of improved calcium absorption. That claim is resonating really well with consumers and was one of the factors behind the brand’s strong growth in the first half,” said Haleon's CEO Brian McNamara during the company's presentation of its half-year financial results.
On top of innovation, Haleon said that Caltrate’s growth was due to market education and the success of its “Bone Up China” programme, which focused on the treatment and prevention of osteoporosis.
In China and the rest of Asia-Pacific, Haleon’s reported revenue for the first half of 2024 was down 3.5 per cent to £1.32bn (US$1.68bn).
Total revenue from all geographies and categories was £5.69bn (US$7.25bn), down 0.8 per cent yoy.
Categories-wise, its Vitamin and Mineral Supplement (VMS) business saw a five per cent revenue growth to £857m (US$1.09bn). Haleon also runs businesses across oral, digestive, respiratory health, pain relief.
In APAC, its VMS revenue climbed “high single digit”. For its two flagship VMS brands Caltrate and Centrum, revenue was up double digits and mid-single digits respectively in this region.
Centrum Silver, in particular, is seeing strong uptake in China due to new evidence on its cognitive benefits.
Known as the COSMOS study, the research showed that daily supplementation of Centrum Silver multivitamin and cocoa extract from Mars Edge could improve memory and slow down age-related cognitive decline in adults aged 65 and above.
“We’ve activated the trusted science credentials for Centrum Silver through clinical data from a number of organisations, more recently, Harvard Medical School.
“This shows clear evidence that taking Centrum Silver improves brain and memory health in older adults. These benefits have resulted in strong demand in many markets including US and China,” said McNamara.
While China already has a mature e-commerce landscape, Haleon said it was still seeing growth in the market, with e-commerce sales increasing by 25 per cent. This is also bigger than the US’s 19 per cent increase.
Haleon’s overall e-commerce revenue was up 21 per cent and comprised 11 per cent of total sales.
“Improved content, optimised media, increased investment in high traffic events as well as refreshed ‘brand stores’ contributed to growth. Increased penetration remains an opportunity for the Group and an area where we continue to invest,” said the company.
Rest of Asia
Haleon also reported a double-digit growth in India, led by oral health brand Sensodyne and over-the-counter antacid brand Eno. It also said that Centrum saw “continued strong performance in India” following its launch back in 2022.
“Across the region, performance was particularly strong in India, with strong Sensodyne and Eno performance supported by new innovations including Eno Chewy Bites,” said CFO Tobias Hestler.
Coming in lemon and orange flavours, Eno Chewy Bites is said to be the “first-of-its-kind” chewable antacid tablet.
In end March, the company also launched its Centrum multivitamins, including Centrum Silver 50+ in Vietnam.
For the whole of FY24, the company is expecting organic revenue growth of four to six per cent and profit growth in high-single digits.
