Everest MED to Acquire Full Ownership of Hasten with $200 Million Deposit, Targeting Southeast Asian Market of 600 Million

Deep News

Mar 19

EVEREST MED recently announced the signing of a non-binding letter of intent with Hasten Biopharmaceuticals (Asia) Limited for the potential acquisition of all equity interests in the target company, Hasten Biopharmaceuticals (SG) Pte. Ltd. According to the agreement, EVEREST MED will pay a refundable deposit of 200 million yuan to the seller within five business days after signing. This deposit will be applied toward the potential acquisition or refunded as mutually agreed. The acquisition aims to strengthen the company's business scale in the Asia-Pacific region. The target company holds commercial rights to 14 branded products in the chronic disease sector, covering a Southeast Asian market of approximately 600 million people. The board believes the transaction will deliver higher returns to shareholders and further complement EVEREST MED's existing product pipeline. Following the signing of the letter of intent, the seller is restricted from discussing related acquisition matters with other parties for six months.

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