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Watson Ponders Selling 2 Manufacturing Plants

California | SOUTHLAND FOCUS

September 06, 2000|Bloomberg News

Watson Pharmaceuticals Inc., a maker of generic drugs, said it might sell plants in Phoenix and Cherry Hill, N.J., that it acquired as part of its purchase of Schein Pharmaceutical Inc. Corona-based Watson said it's considering various options for the two sterile injectable manufacturing plants, including selling them. The company said it hired CIBC World Markets to handle inquiries about the plants. Selling the plants would allow Watson to focus on its current business lines, Chairman and Chief Executive Allen Chao said. Watson completed its purchase of Schein last week. Watson shares rose 19 cents to close at $63.59 on the NYSE. The announcement was made after the close of trading.

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