Tiens Biotech Group (USA) Inc. researches, develops, manufactures, and markets healthcare products. The Company provides herbal products, vitamin and mineral supplements, and personal care products.
The company was accused of operating pyramid schemes in South Asia and Africa, taking advantage of those with little health literacy.
The company went private on 12 Aug 2011 with CEO buying all outstanding shares for $1.72 per share. Tiens Biotech reported a book value of $2.67 in the quarter prior to the buyout.
Tiens Biotech: 2008 Annual Report, 31 Mar 2009
The Guardian: The Chinese multinational making millions out of vulnerable Ugandans, 19 Jun 2014
Business Wire: The Law Firm of Levi & Korsinsky, LLP Announces Investigation of Tiens Biotech Group (USA), Inc., 27 Jun 2011