Wyeth Completes Purchase of Wyeth K.K. Japan
MADISON, N.J., April 3 -- Wyeth (NYSE:WYE) today announced the purchase of the final 20 percent stake of Wyeth K.K. (WKK), from Takeda Pharmaceuticals Company Limited (Takeda), bringing Wyeth's ownership interest in WKK to 100 percent. Wyeth entered into an Equity Transfer Agreement with Takeda in May 2003. Financial details of the equity transfer are confidential.
"The full ownership of WKK is part of the overall transformation of our operations in Japan. The relationship between Wyeth and Takeda remains strong, and our current co-promotion of Enbrel® with Takeda is central to making Japan one of the strongest markets for this important biotech product for the treatment of rheumatoid arthritis," says Wyeth Chairman and Chief Executive Officer Robert Essner.
Enbrel and Mylotarg®, biological products launched in Japan in 2005, are helping to drive WKK's growth.
The history of WKK began in 1953 with Lederle Japan, Ltd., a 50-50 joint venture between American Cyanamid Company and the then Takeda Chemical Industries, Ltd. In 1994, American Home Products Corporation, now Wyeth, acquired American Cyanamid, making Lederle Japan a joint venture between Wyeth and Takeda.
Wyeth is one of the world's largest research-driven pharmaceutical and health care products companies. It is a leader in the discovery, development, manufacturing and marketing of pharmaceuticals, vaccines, biotechnology products and non-prescription medicines that improve the quality of life for people worldwide. The Company's major divisions include Wyeth Pharmaceuticals, Wyeth Consumer Healthcare and Fort Dodge Animal Health.
Wyeth K.K. is engaged in a full range of pharmaceutical business activities, including developing, importing, manufacturing and marketing pharmaceutical products with the aim of becoming a leading company in the pharmaceutical industry in Japan. Our corporate vision is Leading the way to a healthier world. We strive to achieve this vision by bringing to the world pharmaceutical and health care products that improve people's lives and deliver outstanding value to our customers. Headquartered in Tokyo, Wyeth K.K. has approximately 1,000 employees. See details at www.wyeth.jp
Source: Wyeth
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Wyeth,
+1-973-660-5218
Investors
Justin Victoria,
Wyeth,
+1-973-660-5340
Web site: http://www.wyeth.com/
