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Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients

Hovione Takes Majority Stake in Chinese API Supplier

11:04 AM MDT | March 17, 2008 | Deepti Ramesh

Active pharmaceutical ingredient (API) producer Hovione (Loures, Portugal) says it has acquired a 75% stake in pharma company Hisyn Pharmaceutical Co. Ltd. (Linhai, China). The companies did not disclose terms, but press reports say that Hovione paid about $20 million for the stake. Hisyn manufactures APIs and pharma ingredients. The acquisition includes a development laboratory at Shanghai and an API plant with 181 employees at Linhai. Hisyn was a supplier of intermediates to Hovione prior to the acquisition, Hovione says. The acquisition will strengthen...

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