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.
In accordance with the agreement, Hasten will have the marketing authorization holder (MAH) rights for these fourteen items in the following eight areas and countries: China Hong Kong S.A.R., Singapore, Thailand, South Korea, and Australia.
The agreement signifies Hasten’s commercial expansion throughout the Pan-Asia region in addition to enhancing its product pipeline and supply chain structure.
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By acquiring the commercial rights to medications in several chronic disease areas, such as diabetes and hypertension, including Edarbi, Basen, Actos, Blopress, and Nesina, Hasten—an innovative biopharmaceutical company focused on chronic diseases and critical care—will broaden its product portfolios.
“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.
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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.
“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,” he added.
CBC Group, with $8.8 billion in assets under management (AUM), is the largest asset management company in Asia specializing on healthcare.
The CBC Group is concentrated on platform development, buyouts, private loans and royalties, and real estate in the healthcare industry, encompassing pharmaceutical, biotech, medical technology, and healthcare services. This is achieved through a diverse and multi-product approach.
About CBC-Backed Hasten Biopharmaceutical
Hasten Biologics (hastenpharma.com), Ltd., often known as Haisen Bio, is a forward-thinking biopharmaceutical enterprise that encompasses the whole industry chain and integrates research and development, production, and commercial promotion.
