2 years, 1 month ago
WHAT WAS THE STOCK PRICE OF AMERICAN HOME PRODUCTS WHEN IT WAS PURCHASED BY WYETH?
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Wellllll, as a longtime shareholder, this Q got my attention, new! (Welcome to Mahalo, by the way.) You helped prompt me to learn more about the company, so thanks!
American Home Products and Wyeth were related forever, and it wasn't really a purchase of AHP by Wyeth. According to Wyeth's old website, "Wyeth adopted this name to reflect an important transition in its history. Over the years, The Company has strategically evolved from a holding company with diversified businesses to a world leader in research-based pharmaceutical products.
The selection of “Wyeth” pays tribute to the Company’s heritage: One of the Company’s oldest prescription medicine businesses, founded in 1860 and acquired by AHP in 1931, was “John Wyeth & Brother,” and the Company’s original non-prescription medicine business was named “Wyeth Chemical.” Today, the Wyeth name is well recognized and highly regarded within the health care community. Adopting this name helps communicate the Company’s position in the pharmaceutical industry and provides a strong corporate brand platform upon which to build awareness and shareholder value." In other words, the Wyeths started AHP (in 1926, apparently) as a holding company, because they ranged far afield from simply pharmaceuticals. After they sold off most/all of their non-pharmaceutical brands (mostly in the 90's), the conglomeratish name of AHP didn't fit as well.
So, the name change took place on March 11, 2002. On that day, Wyeth (Ticker symbol: WYE) closed at $61.65.
Of course, as you likely know, Wyeth is now a wholly-owned subsidiary of Pfizer. (as of 10/15/09)
American Home Products and Wyeth were related forever, and it wasn't really a purchase of AHP by Wyeth. According to Wyeth's old website, "Wyeth adopted this name to reflect an important transition in its history. Over the years, The Company has strategically evolved from a holding company with diversified businesses to a world leader in research-based pharmaceutical products.
The selection of “Wyeth” pays tribute to the Company’s heritage: One of the Company’s oldest prescription medicine businesses, founded in 1860 and acquired by AHP in 1931, was “John Wyeth & Brother,” and the Company’s original non-prescription medicine business was named “Wyeth Chemical.” Today, the Wyeth name is well recognized and highly regarded within the health care community. Adopting this name helps communicate the Company’s position in the pharmaceutical industry and provides a strong corporate brand platform upon which to build awareness and shareholder value." In other words, the Wyeths started AHP (in 1926, apparently) as a holding company, because they ranged far afield from simply pharmaceuticals. After they sold off most/all of their non-pharmaceutical brands (mostly in the 90's), the conglomeratish name of AHP didn't fit as well.
So, the name change took place on March 11, 2002. On that day, Wyeth (Ticker symbol: WYE) closed at $61.65.
Of course, as you likely know, Wyeth is now a wholly-owned subsidiary of Pfizer. (as of 10/15/09)
You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.
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