Everest Medicines (1952) Acquisition presentation summary

Deal rationale and strategic fit

• Acquisition accelerates transformation into a leading integrated biopharma in Asia, consolidating market position in Southeast Asia, Hong Kong, Macao, and Taiwan.

• Strengthens registration, market access, and commercialization capabilities across the Asia-Pacific region.

• Supports ambitions to become a top biopharmaceutical company in Asia, leveraging Hasten's established platform and product portfolio.

• Provides a one-stop platform for innovative drug commercialization in emerging Asian markets, focusing on cardiovascular and metabolic diseases.

• Capitalizes on low innovative drug penetration and regulatory reforms in Asia-Pacific, with first-mover advantages.

Financial terms and conditions

• Total consideration up to USD 250 million, with an initial payment of USD 150 million at 5.5x EBITDA and contingent payments in 2028 and 2029.

• Funded by 60% bank loans and 40% equity; subsequent equity contributions expected from operating cash flow.

• Valuation by independent appraiser at USD 320 million, with deal price at a 22% discount.

• Maximum consideration/EBITDA multiple is 9.2x, below comparable company and historical transaction medians.

• Premium recognized as goodwill, with no additional annual amortization expenses.

Synergies and expected cost savings

• Significant synergies in product and operational capabilities, enhancing commercialization and expanding product portfolio.

• Integration expected to provide stable cash flow and improve profitability, with EBITDA margin above 30%.

• High transaction capital efficiency and clear shareholder return anticipated.