Actavis Group, a privately held generic pharmaceuticals company based in Iceland, has acquired a 90% stake in a China API maker, Zhejiang Chiral Medicine Chemicals Company. Actavis said that moving some of its API sourcing to Chiral would result in “significant” reduction in costs for the company. Terms of the transaction were not disclosed. Chiral, which was founded in 2001, employs almost 200 workers in its Hangzhou API manufacturing plant. Its products are sold to ex-China pharmaceutical companies. More details...