14 Celltrion Legacy products acquired by CBC-Backed Hasten Biopharmaceutical
The South Korean biopharmaceutical company Celltrion has successfully sold the asset rights to 14 branded products for use across Pan-Asia countries and regions to Hasten Biopharmaceutical (Hasten), an innovative biopharmaceutical company. This announcement was made by CBC Group, a healthcare-focused asset management firm based in Singapore.
The CBC Group said in a statement on Sunday that the acquisition was successful and that it makes use of CBC’s distinctive “investor-operator” model, which combines innovation, extensive industry experience, and commercial expertise, to support top healthcare companies like Hasten as they source appealing assets and expand internationally.
The agreement states that Hasten will hold the marketing authorization holder (MAH) rights for these 14 products in eight different countries and regions: China Hong Kong S.A.R., Singapore, Thailand, South Korea, and Australia.
Through the deal, Hasten expands its business throughout the Pan-Asia region while also improving its product pipeline and supply chain system.
With this acquisition, Hasten—an innovative biopharmaceutical company focused on critical care and chronic diseases—will broaden its product offerings. It will obtain the commercial rights to several drugs that treat diabetes and hypertension, among other chronic diseases, including Edarbi, Basen, Actos, Blopress, and Nesina.
“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,” said Fu Wei, Chief Executive Officer of CBC Group.
“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,” he added.
Hasten’s CEO, Summer Xia, stated that this acquisition is a significant step in the company’s expansion throughout Pan-Asia and forward motion along our globalization trajectory.
Hasten is an industrial chain-wide organization that was founded in 2020 and combines production, commercial promotion, and research and development (R&D).
The CBC Group, Feidong County, Hefei City, and the Hefei Industry Investment Group collectively invested in and established Hasten.
