Hasten Biopharmaceutical buys asset rights for 14 branded products from Celltrion

In a significant move, CBC Group, Asia’s largest healthcare-dedicated asset management firm headquartered in Singapore, announced that its portfolio company, Hasten Biopharmaceutical, has successfully acquired the asset rights of 14 branded products from South Korean biopharmaceutical company, Celltrion. The deal price remains undisclosed.

According to the agreement, Hasten Biopharmaceutical will hold the Marketing Authorization Holder (MAH) rights for these products across eight countries and regions, including South Korea, Singapore, Thailand, Australia, and China Hong Kong S.A.R. This acquisition not only enriches Hasten’s product pipeline but also marks a significant expansion of its business across the Pan-Asia region.

The products included in this acquisition focus on chronic diseases and critical care areas, with commercial rights to drugs targeting hypertension, diabetes, and other chronic conditions. Notable products include Edarbi, Basen, Actos, Blopress, and Nesina.

Fu Wei, CEO of CBC Group, stated, “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. This milestone for Hasten underscores our commitment towards building a resilient global health ecosystem, as we continue to deliver much-needed healthcare solutions across Pan-Asia and beyond.”

Summer Xia, CEO of Hasten Biopharmaceutical, commented, “This successful acquisition marks an important step as we expand our business across Pan-Asia and progress towards our globalization 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. Beyond CBC’s deep experience in buyouts and proven approach in growing leading healthcare platforms, we share a similar vision of addressing unmet medical needs across communities globally by bringing to market greater quality and affordable products. Going forward, we will continue to introduce innovative products, leverage our commercialization capabilities and optimize our product portfolio while enhancing research and production capabilities.”

The acquisition of these 14 branded products represents the latest milestone in CBC Group’s ongoing efforts to support Hasten Biopharmaceutical’s growth. In 2023, CBC co-led a US$315 million fundraising round for Hasten, aimed at supporting strategic acquisitions and the development of innovative pipeline assets. In the same year, Hasten secured the commercial rights in Mainland China for Rocephin, a broad-spectrum antibiotic from Roche, further enhancing its portfolio and patient care capabilities.

This acquisition by Hasten Biopharmaceutical, backed by CBC Group, is a strategic move that significantly enhances Hasten’s product portfolio and market reach in the Pan-Asia region. By focusing on chronic diseases and critical care, Hasten is well-positioned to address growing healthcare needs, particularly in areas like hypertension and diabetes. The deal underscores CBC Group’s effective “investor-operator” model, which combines deep industry knowledge with strategic investment to drive growth and innovation in healthcare. This approach not only benefits the companies involved but also contributes to a more resilient global health ecosystem.