GENE ONLINE|News &
Opinion
Blog

2022-04-06| ChinaM&A

Shanghai’s Hasten Seals $322 Million Acquisition of Takeda Drugs

by Joy Lin
Share To

Shanghai-based Hasten Biopharmaceutic has announced that it has acquired five cardiovascular and metabolism drugs from Japan’s Takeda, with the intent of marketing them in China. The deal, worth $322 million, was struck back in 2020 when Takeda was busy shedding non-core assets following its $59 billion buyout of Ireland-based Shire. 

The five drugs in the deal include Ebrantil, a medicine for hypertension, Edarbi, Basen, Blopress and Actos. Sales of the drugs reached $109.5 million in 2019. Staff related to drug sales will be transferred to Hasten; Takeda will continue to produce and supply the products to Hasten. 

 

Related Article: Takeda Taps Code Biotherapeutics to Develop Non-Viral Gene Therapies in $2 Billion Biobucks Deal

 

Backed by CBC

 

Hasten’s history is fairly recent – the biopharma was founded in September 2020 and funded by CBC Group, a healthcare-focused investment firm, Hefei Industry Investment Group, and the Feidong County of the Chinese city of Hefei. 

“This acquisition helps us further our purpose of building a best-in-class primary care platform in Asia,” Wei Fu, CEO of CBC, said. “CBC has an excellent track record of building next-generation healthcare companies with our unique investor-operator strategy.” CBC will continue to develop its portfolio companies to bring treatments to chronic disease patients, said Fu.  

 

Shire Buy Proves to be a Tough Pill to Swallow 

 

Takeda has been restructuring its portfolio since buying Shire in 2019. Back then, the Japanese drug giant had laid out plans to narrow its specialty areas to gastroenterology, rare disease, oncology, neuroscience and plasma-derived therapies – and offload up to $10 billion worth of non-core products to other companies. 

So far, the Shire acquisition has been a tough pill for Takeda to swallow. The drugmaker recently let go of an asset it had trumpeted as one of the jewels of the Shire takeover to a fresh rare disease company called Oak Hill Bio. That candidate – a recombinant insulin-like growth factor -1 (IGF-1) called OHB-607 – had reached Phase 2 studies and was indicated to treat complications of premature births. 

©www.geneonline.com All rights reserved. Collaborate with us: service@geneonlineasia.com
Related Post
Spectrum to Cut 75% of Staff and NSCLC Program Following CLR
2022-11-28
AstraZeneca’s Treatment for Rare Throat Disease, Eosinophilic esophagitis, Fails Primary Endpoint
2022-10-25
Bristol Myers Squibb’ sNDA for Rare Heart Disease Treatment Accepted by the FDA
2022-10-21
LATEST
Axsome’s AXS-05 Achieves Endpoints In Alzheimer’s Agitation Trial
2022-11-29
Spectrum to Cut 75% of Staff and NSCLC Program Following CLR
2022-11-28
Full-Life Technologies to Acquire Focus-X Therapeutics, Bolstering Peptide-Focused Radiopharmaceutical Pipeline
2022-11-28
Medeologix Acquires Three Silicon Valley Medical Device CDMO Companies and Establishes One-Stop Shop Mass Production Facilities in Taiwan
2022-11-28
GenFleet Therapeutics to Present Data from Phase I Trial of GFH009 Monotherapy at the 2022 Annual Meeting of American Society of Hematology (ASH)
2022-11-28
Everest’s Renal Drug Gets Placed On Fast Track For Approval In Taiwan And Korea
2022-11-28
Canada Authorizes Roche’s Polivy as First-Line Lymphoma Treatment
2022-11-27
EVENT
2022-12-01
BIOCHINA 2022
Online
2022-12-10
64TH ASH ANNUAL MEETING & EXPOSITION
New Orleans, USA
2022-12-14
BIOHK2022
Hong Kong, China
2023-01-07
7th Asia Microbiome Conference
Taipei, Taiwan
Scroll to Top

Create an account with us now to say goodbye to all the pop-ups!