Everest acquires Hasten Biopharmaceuticals' Asia-Pacific platform for USD 250m

China-based Everest Medicines (HKEX: 1952) has signed a Share Purchase Agreement to acquire the entire equity interest in Singapore-incorporated Hasten Biopharmaceuticals (SG) Pte. Ltd. for USD 250 million, consolidating a pan-Asia Pacific commercialization platform spanning 14 marketed chronic disease products. The transaction accelerates Everest's strategy of extending beyond Mainland China the commercialization infrastructure it has built in the cardiovascular, kidney, and metabolic disease segments.

The aggregate consideration of USD 250 million (approximately RMB 1,721,650,000) is structured across three cash installments with no milestone payments, royalties, or equity components. USD 150 million, representing 60% of the total, is payable at closing, subject to satisfaction or waiver of applicable conditions precedent. Two further installments of USD 50 million each are due in Q1 2028 and Q1 2029, respectively, each contingent on satisfaction of their own conditions precedent. Additionally, a refundable deposit of RMB 200 million previously paid under a Letter of Intent will be returned to Everest within ten days of closing. Upon closing, Hasten Biopharmaceuticals (SG) Pte. Ltd. will become an indirect wholly-owned subsidiary of Everest, with its financials consolidated into the parent's statements. No closing date has been disclosed beyond the installment schedule.

The acquired entity is the operating subsidiary of Cayman Islands-incorporated Hasten Biopharmaceuticals (Asia) Limited, which functions as an investment holding company. The transaction is executed through EverSea Medicines (Singapore) Pte. Ltd., a wholly-owned Everest subsidiary. Hasten Biopharmaceuticals (SG) Pte. Ltd. recorded normalized revenue of USD 82.2 million and EBITDA of USD 27.3 million for the financial year ended 31 December 2025.

The core value driver in this pharmaceutical M&A transaction is the acquired entity's portfolio of Marketing Authorization Holder rights, trademarks, and broad commercial rights for 14 branded chronic disease products across multiple Asia Pacific jurisdictions. The portfolio concentrates on cardiovascular and metabolic indications, areas that align directly with Everest's existing therapeutic focus. Hasten Biopharmaceuticals (SG) Pte. Ltd. operates a mature regional commercialization infrastructure supported by approximately 120 dedicated field force personnel.

Everest's existing marketed products, including Tarpeyo (nefecon), Velsipity (etrasimod), and Xerava (eravacycline), are progressing through new drug application approvals and reimbursement processes in authorized Asian markets outside Mainland China. The Hasten Biopharmaceuticals acquisition deal provides a pre-built distribution and market access infrastructure into which these products can be channeled, reducing the time and capital ordinarily required to establish local regulatory, medical affairs, and commercial capabilities market by market. Everest characterizes the Asia Pacific region, with a core addressable population exceeding two billion, as a territory where chronic disease burden remains substantially underserved and where regulatory pathways and market access frameworks for innovative therapies continue to develop.

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