Watson Sells Stake In Taiwan’s ScinoPharm

Watson Pharmaceuticals will sell its 31% stake in Taiwan’s ScinoPharm, a custom producer of active pharmaceutical ingredients, to Uni-President. A major food manufacturer in Taiwan and China, Uni-President already owns a substantial portion of ScinoPharm. The firm’s other major shareholders are Taiwan Sugar and the Taiwanese government. Watson started acquiring a stake in ScinoPharm in 2004 but says its priorities have changed now that it has increased its own manufacturing capability. In 2006, Watson acquired the Indian pharmaceutical ingredients maker Sekhsaria Chemicals.