Hovione, a Portuguese maker of active pharmaceutical ingredients, paid “in excess” of 13 million euros ($19.5 million) to buy 75% of the capital of Zhejiang Hisyn Pharmaceutical. Like Hovione, Zhejiang Hisyn is in the business of manufacturing active pharmaceutical ingredients. Hovione said the investment in Hisyn will lower its production costs while increasing production. With the lower costs, Hovione said it would be able to supply APIs to pharmas in China, India and Brazil. More details...