TECHNOLOGY FOCUS - INORGANIC CHEMISTRY - Preparation (Claimed): Preparation of (A) comprises: either (a) reacting (IV) with (III) in the presence of an alkali or alkaline earth metal base in one or more suitable polar aprotic solvents to give (II), (b) hydrolyzing (II) under acidic conditions to remove acetonide protection to form a diol compound, (c) treating the diol compound in situ with an alkali metal hydroxide to form alkali metal salt of pitavastatin of formula (I), (d) treating (I) with a magnesium source to obtain pitavastatin magnesium, and (e) isolating the pitavastatin magnesium; (a1) providing a solution comprising pitavastatin magnesium in a suitable organic solvent, where the organic solvent is one or more of a chlorinated solvent, alcoholic solvent, ketonic solvent, and/or esters solvent, (b1)removing the organic solvent to obtain a residue, (c1) adding a suitable anti-solvent to the residue, and (d1) recovering an amorphous form of the pitavastatin magnesium; the step (a1) as above per se, heating reaction mixture at an elevated temperature followed by cooling to ambient temperature, adding a suitable anti-solvent to the solution, and the step (d1) as above per se; providing pitavastatin magnesium in crystalline form having water content of 8-12 wt/wt.%, contacting the pitavastatin magnesium with humid air in a fluidized bed drier, or maintaining the pitavastatin magnesium at a temperature of 5-60 degrees C, under pressure of less than 30 mm/mercury (Hg) for a period of 1-5 days, and recovering a pitavastatin magnesium in the amorphous form having water content of less than 2 wt/wt.%; the steps (a)-(c) as above per se, treating (I) with a zinc source to obtain pitavastatin zinc, and isolating the pitavastatin zinc; or the steps (a) and (b) as above per se, and treating the diol compound in situ with a potassium source to obtain pitavastatin potassium.M = Na+, K+, or Li+.Preferred Process: The hydrolysis of (II) under acidic conditions is carried by selecting acids comprising hydrochloric acid, acetic acid, sulfuric acid, nitric acid, or phosphoric acid. The pitavastatin magnesium is isolated in a crystalline form. The elevated temperature is 50-100 degrees C. The ambient temperature is 0-30 degrees C, or 15-35 degrees C. In the process, humid air refers to a relative humidity of at least 30%. Preferred Components: (A) are: pitavastatin magnesium; and a hydrate, crystalline, or amorphous. (A) have: water content of 7-12 wt/wt.%, preferably less than 5 wt/wt.%; and a specific optical rotation of +22 to +22.5 in 1% dimethyl sulfoxide at 20 plus minus 0.5 degrees C. The crystalline form of (A) is characterized by an X-ray powder diffraction pattern having characteristics peak values expressed in degrees, as given in the specification. The pitavastatin magnesium is substantially pure having a purity of greater than 99% by area percentage of HPLC, or less than 0.3% of diastereomeric impurity by area percentage of HPLC. The alkali or alkaline earth metal base comprises one or more of sodium hydroxide, potassium hydroxide, lithium hydroxide, potassium carbonate, sodium carbonate, lithium carbonate, and cesium carbonate. The alkali metal hydroxide comprises one or more of sodium hydroxide, potassium hydroxide, and lithium hydroxide. (I) is pitavastatin sodium. The magnesium source comprises one or more of magnesium chloride, magnesium methoxide, magnesium acetate or their hydrates. The zinc source comprises one or more of zinc formate, zinc acetate, zinc propionate, zinc maleate, zinc fumarate, zinc tartrate, zinc lactate, zinc malate, zinc citrate, zinc ascorbate, zinc malonate, zinc oxalate, zinc glycolate, zinc methanesulfonate, zinc ethanesulfonate, a salt of zinc with amino acid, zinc sulfate, zinc chloride, zinc carbonate or zinc nitrate. The potassium source comprises one or more of potassium hydroxide, potassium carbonate, potassium bicarbonate, potassium acetate, and potassium chloride.    TECHNOLOGY FOCUS - ORGANIC CHEMISTRY - Preferred Process: In the process, (II) is optionally isolated by removal of the solvent, and purified in polar solvent including methanol, ethanol, isopropanol, acetone, dimethyl formamide, ethyl acetate, or butyl acetate. Preferred Components: The polar aprotic solvent comprises one or more of dimethylformamide, dimethylsulfoxide, dimethylacetamide, tetrahydrofuran, and/or N-methylpyrrolidone. The crystalline form of (II) is characterized by an X-ray powder diffraction pattern and an infrared spectrum having peak values, as given in the specification. The crystalline form of (II) is having differential scanning calorimetry endotherm at 116.04 degrees C. The polar solvent comprises one or more of methanol, ethanol, isopropanol, acetone, dimethyl formamide, ethyl acetate, and butyl acetate. The organic solvent comprises one or more of methylene dichloride, ethylene dichloride, chlorobenzene, methanol, ethanol, isopropanol, butanol, acetone, methylethyl ketone, ethyl acetate, butyl acetate, isopropyl acetate or their mixtures, or mixture with water. The anti-solvent comprises one or more of hexane, heptane, cyclohexane, toluene, xylene, diisopropyl ether, methyl tert-butyl ether, 1,4-dioxane, and tetrahydrofuran. ACTIVITY - Antilipemic.    MECHANISM OF ACTION - 3-Hydroxy-3-methylglutaryl-coenzyme A (HMG-CoA) reductase inhibitor.    EXAMPLE - Crystalline pitavastatin magnesium (100 g) and methanol (500 ml) were stirred in rubidium fluoride for 30 minutes. The reaction mixture was distilled at 45-50 degrees C under vacuum to obtain dry product. The filtrate was distilled under vacuum till dry powder obtained at 45-50 degrees C. The solid was cooled to 25 degrees C and cyclohexane (500 ml) was added to the filtrate and stirred for 30 minutes. The reaction mixture was filtered and wet-cake was washed with cyclohexane (100 ml). The product was dried in hot air oven for 12 hours to give amorphous form of pitavastatin magnesium (83 g).