Hasten Biopharmaceutical Co., Ltd. has successfully acquired asset rights for 14 branded products across various Pan-Asian countries and regions from Celltrion, a biopharmaceutical company based in Korea. Under the agreement, Hasten will also assume the role of Marketing Authorization Holder (MAH) for these products in eight countries and regions, including South Korea, Singapore, Thailand, Australia, China, and Hong Kong S.A.R. This acquisition significantly enhances Hasten's product pipeline outside mainland China, bolstering its global supply chain and quality management systems to facilitate access to a broader range of high-quality products throughout the Pan-Asian region.
As a forward-thinking biopharmaceutical firm specializing in chronic diseases and critical care, Hasten will significantly expand its product portfolios following the acquisition. This includes gaining commercial rights to treatments in chronic disease areas such as hypertension and diabetes, encompassing well-known brands like Edarbi, Basen, Actos, Blopress, and Nesina across 8 countries and regions in Pan-Asia. This successful transaction, facilitated by CBC Group's expertise in extensive cross-border acquisitions and platform development, marks a collaborative effort to enhance the global healthcare landscape.
"This acquisition is strategically important to Hasten's continued growth and we're delighted to be part of the company's expansion journey", Fu Wei, CEO of CBC Group stated, "Driven by the dual forces of 'Hasten Speed' and 'Hasten Power', the company is well-positioned to tap into more potentials and benefit more patients. Moving forward, we will continue to leverage our unique 'Investor-Operator' approach to support Hasten in making a collective impact. By joining forces, we aim to build a health ecosystem spanning the Pan-Asia region and beyond, providing high-quality treatments and services to more patients, contributing to the development of the global healthcare industry".
Summer XIA, CEO of Hasten, said, "This acquisition marks a significant step in Hasten's business expansion in Pan-Asia and serves as an important milestone of our globalization trajectory. By expanding a commercial layout spanning multiple regions in Pan-Asia and covering more classic products, we have broadened Hasten's product portfolio while paving the ways for more high-quality products accessing Pan-Asia. This aligns with Hasten's development strategy of 'Pursuing Steady Progress'. We will continue to make full use of our commercialization capability and innovative business models to serve patients in Pan-Asia and even globally with quality products and solutions so as to create social health value".
With a firm commitment to establishing a strong presence in China while embracing a global outlook, Hasten is swiftly expanding its business footprint throughout the Pan-Asia region. Guided by its comprehensive industry approach and global strategy, the company is poised for future growth. Hasten will continue to introduce cutting-edge products, refine its product portfolio, and enhance research and production capabilities to drive innovation and success.