The acquisition includes both development labs in Shanghai and an active pharmaceutical ingredient plant occupying 22,000 square meters on a 22 acre plot employing 181 staff. The Zhejiang provincial authorities have issued the necessary business license and the joint venture is now operational.
Hovione’s relationship with Hisyn started with the supply of intermediates, but this factory, which was commissioned in 2005 from a greenfield site, will now produce Hovione’s two largest volume products.
Miguel Calado, CFO of Hovione, said: “Hisyn represents an opportunity to both increase our manufacturing capacity and ensure a sustainable cost advantage. We find it important to provide our current customers with an assurance of competitive supply over the long run; and in addition we want to have a strong presence in new markets, such as Brazil, India and China, where price is decisive.”