Everest Medicines expands Asia-Pacific footprint with US$250M Hasten Biopharmaceuticals acquisition

SINGAPORE—Everest Medicines’ wholly owned subsidiary, EverSea Medicines (Singapore), has signed a share purchase agreement to conditionally acquire Hasten Biopharmaceuticals, a subsidiary of Hasten Biopharmaceuticals (Asia).

This strategic move aims to strengthen Everest Medicines’ presence and enhance its commercial capabilities across key markets in the Asia-Pacific region.

By acquiring Hasten, the company seeks to accelerate its regional expansion while reinforcing its position in the pharmaceutical sector.

Deal Structure and Financial Terms
Under the terms of the agreement, Everest Medicines will pay a total consideration of US$250 million in three installments.

The company will make an initial payment of US$150 million at closing, followed by two additional payments of US$50 million each, scheduled for the first quarters of 2028 and 2029, subject to agreed conditions.

In addition, Hasten Biopharmaceuticals (Asia) will provide a refundable deposit of 200 million yuan (US$29.2 million) to Everest Medicines within ten days of the transaction’s close.

Once the deal is finalised, Everest Medicines will consolidate Hasten Biopharmaceuticals’ financial results into its own reporting structure.

Portfolio Expansion and Commercial Rights
The acquisition includes trademark rights, broad commercial rights, and marketing authorisation holder (MAH) rights for 14 branded products targeting chronic diseases.

Hasten Biopharmaceuticals currently owns these products and distributes them across several Asia-Pacific markets.

Through this portfolio, Everest Medicines will expand its reach into high-demand therapeutic areas, particularly in chronic disease management.

Hasten’s Market Position and Performance
Hasten Biopharmaceuticals focuses on the commercialisation of prescription medicines, particularly in the chronic and acute/critical care segments.

The company targets key therapeutic areas such as metabolic and cardiovascular diseases, which continue to represent a growing burden across the region.

As of December 2025, Hasten reported normalised revenue of US$82.23 million and earnings before interest, taxes, depreciation, and amortisation (EBITDA) of US$27.27 million, reflecting steady operational performance.

Everest Medicines’ Pipeline and Growth Strategy
Everest Medicines continues to build a robust pipeline focused on chronic disease therapies, including treatments for cardiovascular, kidney, and metabolic conditions.

Its key products, such as Nefecon, Velsipity, and Xerava, are currently progressing through new drug application and reimbursement processes in several Asian markets.

By integrating Hasten’s assets and capabilities, the company expects to accelerate product commercialisation and drive overseas revenue growth.

Regional Expansion and Recent Developments
Furthermore, the acquisition will extend Everest Medicines’ commercial infrastructure beyond China into the broader Asia-Pacific region, supporting market entry and enabling the development of capabilities required for international growth.

In a related development, the company signed an exclusive licence agreement with Micot in February 2026 to commercialize MT1013 in China and across the Asia-Pacific region, excluding Japan.