Hong Kong-listed Everest Medicines, a biopharmaceutical company focused on the discovery, clinical development, manufacturing, and commercialisation of innovative therapeutics, has announced that its wholly-owned subsidiary, EverSea Medicines (Singapore), has entered into a Share Purchase Agreement with Hasten Biopharmaceuticals (Asia) to conditionally acquire the entire equity interest in its wholly-owned subsidiary, Hasten Biopharmaceuticals (SG) for US$250m.
Everest Medicines, which has expertise and a track record both in China and with leading global pharmaceutical companies, is committed to becoming a leading global biopharmaceutical company in Asia. This acquisition extends the commercialisation capabilities it has already built in China and accelerates the firm’s Asia Pacific expansion by acquiring a ready-built regional commercial platform with 14 marketed chronic disease products
would enable the company to extend into the Asia Pacific region the commercialisation capabilities it has already built in China. It would allow the company to strengthen its regional footprint, accelerate market entry and execution for both existing and future products, and build the infrastructure and local know-how required to support broader overseas expansion over time.
Hasten Biopharmaceuticals (SG) is principally engaged in the commercialisation of prescription pharmaceutical products, with a strategic focus on chronic diseases and acute/critical care, particularly in the cardiovascular and metabolic segments.
The first instalment of US$150m is payable at closing. The second and third instalments of US$50m each – payable during the first quarter of 2028 and the first quarter of 2029, respectively – are subject to the satisfaction or waiver of the conditions precedent applicable to each instalment.
The acquisition includes the Marketing Authorization Holder (MAH) rights, trademark and broad commercial rights for 14 branded chronic disease products owned by Hasten Biopharmaceuticals (SG) across multiple countries and regions in the Asia Pacific region.
For the financial year ended 31 December, 2025, Hasten Biopharmaceuticals (SG) recorded a normalised revenue of US$82.2m with an EBITDA of US$27.3m – pointing to a multiple of over 9-times. It has established a mature pan-Asia-Pacific commercialisation platform supported by an experienced local team of approximately 120 dedicated field forces.
Press release: Everest Medicines Signs Share Purchase Agreement with Hasten Biopharmaceuticals (Asia) Limited