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Hasten Bio Pays $322 Million for China Rights to Five Takeda Drugs

publication date: Dec 24, 2020

Hasten Biopharmaceutic will pay $322 million for rights to commercialize five Takeda Pharma's prescription cardiovascular and metabolism products in China. Formed three months ago, Hasten is backed by Ray Capital Management, an investment fund associated with Hefei City, Hasten's headquarters. The Takeda portfolio generated $110 million in China sales last year. Following its $59 billion acquisition of Shire in 2018, Takeda has divested itself of more than $13 billion of assets to improve its balance sheet. The company narrowed its focus to products for gastroenterology, rare diseases, plasma-derived therapies, oncology and neuroscience. More details....

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