CBC Group-backed Hasten Biopharmaceutical has acquired the asset rights of 14 branded products from South Korean biopharmaceutical company Celltrion.
Singapore-based CBC Group is a healthcare-dedicated asset management company. Its controlled portfolio company Hasten specialises in chronic diseases and critical care.
Under the agreement, Hasten Biopharmaceutical will acquire the Marketing Authorisation Holder (MAH) rights for 14 products across eight countries and regions, including South Korea, Singapore, Thailand, Australia, and China Hong Kong S.A.R.
The deal enhances Hasten’s product pipeline and supply chain system while facilitating its business expansion throughout the Pan-Asian region.
The company plans to broaden its product portfolio through this acquisition of products like Edarbi, Basen, Actos, Blopress, and Nesina. It will gain commercial rights to medications targeting various chronic conditions such as hypertension and diabetes.
CBC Group CEO Fu Wei said: “This strategic deal lays a solid foundation for Hasten’s global expansion, facilitated by CBC Group’s deep experience in large-scale cross-border buyouts and platform building.
“Our distinct active approach has seen a strong history of success as we work closely with healthcare companies to grow their platforms across stages and accelerate their expansion internationally while retaining a sharp focus on unlocking synergies and joint value for companies and investors alike.”
The recent action builds on a sequence of significant growth milestones for CBC and China-based Hasten Biopharmaceutical.
Last year, CBC co-led a $315m fundraising round for the biopharmaceutical firm to bolster strategic acquisitions and advance pipeline assets.
Concurrently, Hasten secured commercial rights in Mainland China for Rocephin, a long-acting cephalosporin antibiotic with broad-spectrum capabilities, through an acquisition from Roche.
Hasten Biopharmaceutical CEO Summer Xia said: “This successful acquisition marks an important step as we expand our business across Pan-Asia and progress towards our globalisation trajectory.
“We are pleased to be partnering with CBC, as this deal provides us the opportunity to expand our regional commercial platform, broaden our product portfolio with the coverage of more classic products, while paving the way to go overseas with more high-quality products, in alignment with our development strategy.”
