China-based Hasten Biopharmaceutical Co., Ltd has announced the acquisition of the commercial rights in China to Rocephin, a long-acting, broad-spectrum cephalosporin antibiotic, from Swiss pharmaceutical giant Roche (SWX: ROG). This strategic move expands Hasten’s product offerings and strengthens its position in the Chinese market.
Comprehensive Agreement Includes Marketing Authorization and Technology Transfer
Under the terms of the agreement, Hasten is acquiring all of Roche’s mainland China rights for Rocephin, which encompasses the product’s marketing authorization, intellectual property, trademarks, and technology transfer. Rocephin, recognized as a critical care product, is valued for its broad-spectrum antibiotic properties and strong brand reputation, particularly for community-acquired infections.
Hasten Biopharm’s Background and Previous Acquisitions
Established with support from leading investors such as CBC Group, Asia’s largest healthcare-dedicated investment firm based in Singapore, Hefei Industry Investment Group, and Feidong County of Hefei City, Hasten has been actively building its portfolio through strategic acquisitions. In April 2022, the company expanded its range by acquiring five products from Japan’s Takeda, including hypertension drugs Ebrantil (urapidil), Edarbi (azilsartan medoxomil potassium), and Blopress (candesartan cilexetil), as well as diabetes therapies Basen (voglibose) and Actos (pioglitazone).
Fundraising and Future Deal-Making Prospects
Hasten Biopharmaceutical recently secured USD 315 million in a fundraising round co-led by CBC Group and the Abu Dhabi sovereign wealth fund Mubadala Investment Company. This capital injection is expected to provide the necessary resources for further deal-making and expansion of Hasten’s pharmaceutical offerings.-Fineline Info & Tech
