Issue Date: March 10, 2008
Hovione, Evonik Boost China Pharma Chemicals
Two European pharmaceutical chemical producers are increasing their presence in China. The Portuguese firm Hovione has purchased 75% of China's Hisyn Pharmaceutical, a Shanghai-based producer of active pharmaceutical ingredients. "Hisyn represents an opportunity to both increase our manufacturing capacity and ensure a sustainable cost advantage," says Hovione Chief Financial Officer Miguel Calado. Hovione says Hisyn's four-year-old plant will start producing its two largest volume products. Separately, Evonik Industries has bought out the 49% share of its Degussa Lynchem pharmaceutical chemicals joint venture held by Chinese shareholders. The venture was established in 2006 when Evonik forerunner Degussa bought a 51% stake in Lynchem, based in Dalian, China. "In taking over the remaining shares, we are strengthening our global exclusive synthesis business and further expanding it in line with our successful concept of horizontal integration," says Alfred Oberholz, the Evonik board member responsible for chemicals.
- Chemical & Engineering News
- ISSN 0009-2347
- Copyright © American Chemical Society