Wyeth Pharmaceuticals is a pharmaceutical company involved in the research and development of postmenopausal hormone therapies and oral contraceptives such as Premarin, Prempro, and Lybrel. It is the prescription pharmaceutical arm of Wyeth.
In March of 2009, the US Supreme Court ruled that Wyeth could be sued by Vermont musician Diana Levine for injuries she sustained after being treated by the company's anti-nausea drug, Phenergan. Wyeth maintained that they should be immune against such litigation because the FDA had already approved the warning label placed on the drug, but the court's 6-3 majority opinion held that the onus was still on Wyeth to update and expand the warning label when new dangers or side-effects are discovered.CNN Money: US High Court Allows Patient Lawsuit Against Wyeth (March 4, 2009)
Fast Facts:
- Former name: American Home Products until 2002
- NYSE Stock symbol: WYE
- Annual revenue (2007):
- Founder: John Wyeth
- Year Established: 1860
- Industry: Healthcare, pharmaceuticals
- Phone: 610-902-1200
- HQ: Madison, New Jersey
- President: Joseph M. Mahady
- CEO: Bernard J. Poussot
- Staff: 49,732 (2005)
- Top Drugs: Premarin, Effexor XR, Advil
- Annual Revenue: $20.4 Billion (2006)
Key Dates
- 1860: John and Frank Wyeth open drugstore and research lab in Philadelphia, Pennsylvania
- 1864: Brother supply medicines to soldiers in Civil War
- 1872: Company develops first rotary-pressed tablet machine
- February 4, 1926: American Home Products incorporated
- 1930: Company purchases Anacin
- 1944: Wyeth selected as one of 22 companies to product penicillin for troops and, later, general public.
- 1951: Antabuse developed for treatment of alcoholism
- 1954: Supplies polio vaccine for trials by Jonas Salk
- 1966: Develops Ovral, first synthetic oral contraceptive
- 1989: Acquires A.H. Robins
- 1991: Develops Norplant contraceptive
- 1998: Acquires Solgar Vitamin and Herb Company
- 2002: American Home Products changes name to Wyeth
- 2009: Acquired by rival drug company Pfizer in a death worth $68 billion
Purchase by Pfizer
On January 26, 2009, pharmaceutical company Pfizer announced that it was acquiring Wyeth in a deal worth $68 billion. The deal was considered the biggest between two drug companies in nearly a decade.Health Blog (WSJ): Pfizer Broadens Beyond Pills with $68 Billion Wyeth Buy (January 26, 2009) CNNMoney.com: Pfizer to buy Wyeth for $68 billion (January 26, 2009)
Wyeth Pharmaceuticals Competitors
Pfizer: Official Site | Wikipedia
GlaxoSmithKline: Official Site | Wikipedia
Bristol-Myers Squibb: Official Site | Wikipedia
AstraZeneca: Official Site | Wikipedia
Bayer: Official Site | Wikipedia
Merck & Co., Inc.: Official Site | Wikipedia
Barr Pharmaceuticals, Inc.: Official Site | Wikipedia
Novartis: Official Site | Wikipedia
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