Taiwan Fertilizer to spin off biotech unit next year

 Riding on the healthcare industry's rapid expansion, Taiwan Fertilizer Co (台灣肥料) is planning to spin off its biotechnology division in the first half of next year to market its own-brand health supplements. The new subsidiary will have capital of NT$100 million (US$3.3 million), a report by the Chinese-language United Evening News said on Thursday. Taiwan Fertilizer ventured into the biotech sector in 2008 and introduced its first range of own-brand health supplements on Tuesday, which went on sale at Watsons, Taiwan's largest cosmetics and drugstore operator. To expand their exposure, the firm plans to sell these supplements through other retail networks such as Carrefour Corp Taiwan (家樂福), Far Eastern Geant Co (愛買量販) and other drug store chains. It is also considering setting up dedicated counters in department stores. Furthermore, the firm has long-term plans to market its products in China and Southeast Asia, the report said. Meanwhile, Taiwan Salt Co (台鹽) last month said it was in talks with a Japanese beauty care and drugstore operator to establish retail outlets in China selling its branded healthcare products. The company — which has made multiple forays into the biotech sector by producing detergents, cosmetics and health supplements in recent years — currently has three sales outlets in China, with the potential partnership helping to increase its presence in the Chinese market.