Shanghai Fosun Pharmaceutical (Group) (600196.SH) will pay up to $219 million to acquire a 70% stake in Jinzhou Ahon Pharmaceutical Co. Shanghai Fosun said the acquisition will make its drug portfolio more competitive, especially in Ahon’s core strengths of the cardiovascular and central nervous system sectors.

Fosun Pharma also announced it will form a generic drug JV with Lonza Group of Switzerland, backed by $15.6 million in capital. The JV will take advantage of the strengths of each parent: Lonza in APIs and intermediates; Fosun in finishing and China distribution. The JV will be owned equally by the two partners.