ICN Lowers Ownership in Syncor Stock

ICN Pharmaceuticals of Costa Mesa said it has lowered its stock ownership in Syncor International, a Chatsworth-based radio pharmaceuticals distributor, from slightly more than 5% to 4.8% of its common shares.

In a filing with the U.S. Securities and Exchange Commission, ICN said it holds 533,000 Syncor shares.

The company characterized its holdings in the company as “purely an investment” and said the recent sales were designed to balance ICN’s stock portfolio.

ICN is a pharmaceutical manufacturer and distributor.