Hasten Biopharmaceutic Co., Ltd. entered into an agreement to acquire a portfolio of five select non-core prescription pharmaceutical assets sold in mainland China from Takeda Pharmaceutical Company Limited (TSE:4502) for approximately $320 million on December 21, 2020. In 2019, the portfolio generated net sales of approximately $109.5 million. The transaction is subject to the satisfaction of customary closing conditions, receipt of required regulatory clearances and, where applicable, satisfaction of local works council requirements. The transaction is expected to close by June 30, 2021. Takeda intends to use the proceeds from its disposal to continue to reduce its debt and accelerate deleveraging toward its target of 2x net debt/adjusted EBITDA within FY2021 – FY2023. BofA Securities, Inc. acted as a financial advisor and White & Case LLP acted as a legal advisor to Takeda Pharmaceutical Company Limited. The White & Case LLP team was led by Michael Immordino, Leonardo Graffi, Philip Trillmich, Monica Holden. Vivian Tsoi and Axel Schulz.

Hasten Biopharmaceutic Co., Ltd. completed the acquisition of A Portfolio of Five Select Non-core Prescription Pharmaceutical Assets Sold in Mainland China from Takeda Pharmaceutical Company Limited (TSE:4502) on March 31, 2022. Hasten is funded by CBC Group.