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Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients
Actavis Acquires Chinese Manufacturer
12:27 PM MDT | April 18, 2008 | DR
Generics pharmaceutical manufacturer, Actavis (Hafnarfjordur, Iceland) says it has acquired 90% of active pharma ingredient (API) producer Zhejiang Chiral Medicine Chemicals Co. (Hangzhou, China). Terms of the deal were not disclosed. Actavis says the acquisition is part of its strategy to obtain direct access to low-cost API manufacturing. Wessman: Access to low-cost production. “This new facility will enable Actavis to further reduce its manufacturing costs and is an important extension of our activities in China,” says Robert Wessman, president and...
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