Wyeth, formerly known as
American Home
Products (
AHP), was one of the largest
pharmaceutical companies in
the world.
The company is based in Madison
, New
Jersey
, USA
. They
are known for manufacturing the
over-the-counter drug Robitussin and the
analgesic Advil (
ibuprofen), as well as the prescription drugs
Premarin and
Effexor, which both boast over
US$3 billion in sales annually.
On January 23, 2009
The Wall
Street Journal reported that
Pfizer
was in talks to buy Wyeth at a cost around
US$68 billion. On January 25, Pfizer
agreed to the purchase, a deal financed with cash, shares and
loans. The deal was completed on October 15, 2009.
History
1860–1899
In 1860, pharmacists John and Frank Wyeth opened a drugstore with a
small research lab on Walnut Street in Philadelphia. In 1862, on
the suggestion of doctors, they began to manufacture large
quantities of commonly ordered medicines. They were successful, and
in 1864 they began supplying medicines and beef extract to the
Union army during the
Civil
War.
In 1872,
Henry Bower, an employee of Wyeth, developed one of the first
rotary compressed tablet machines in the United States. This enabled the mass production of
medicines with unprecedented precision and speed. It was massively
successful, and the Wyeth brothers won multiple awards at the
Centennial Exhibition.
In 1883,
Wyeth opened its first international facility in Montreal
, Canada
and began
vaccine production. Six years later, a fire destroyed the
brothers' original Walnut Street store; the brothers sold the
retail business and began focusing on mass-production.
1900–1929
John Wyeth died in 1907 and his only son, Stuart, became the
company's president.
American Home Products, the
holding company now known as Wyeth, was incorporated on February 4,
1926.
The
Whitehall building in downtown Manhattan
became the corporation's first headquarters.
Global sales became stronger due to the sales of Wyeth's
Kolynos brand of toothpaste.
In 1929, Stuart Wyeth
died and left controlling interest to Harvard University
.
1930–1949
In 1930, Wyeth purchased
Anacin, a product
for tension headaches which quickly became the company's flagship
product. One year later, Harvard sold Wyeth to American Home
Products for
US$2.9
million.
In 1935, Alvin G. Brush, a
Certified Public Accountant,
became
CEO of the entire organization and would
serve for thirty years. Under Brush's leadership, 34 new companies
were acquired in the next fifteen years, including
Chef Boyardee and the
S.M.A.
Corporation, a pharmaceutical firm specializing in
innovative infant formulas. Wyeth also made its first licensing
deal, acquiring an antibiotic for
arthritis vaccine
research.
In 1941, the United States entered
World
War II, and Wyeth shipped typical wartime drugs such as
sulfa bacteriostatics,
blood plasma,
typhus
vaccine,
quinine, and
atabrine tablets. Wyeth was later rewarded for
its contribution to the war effort. During this time, Wyeth
launched its
penicillin research facility
with G. Raymond
Rettew.
In 1943, Wyeth purchased
G. Washington Coffee Refining
Company, an
instant coffee
company created by
George
Washington.
In 1943, Wyeth merged with
Ayerst, McKenna and Harrison,
Ltd. of Canada. With this merger came
Premarin, the world's first conjugated
estrogen medicine, which to this day is one of
Wyeth's flagship products. Wyeth was one of 22 companies selected
by the government in 1944 to manufacture penicillin for the
military, and later for the general public.
In 1945, Wyeth acquired the
Fort Dodge Serum Company, thus
entering the animal health field, in which they are still active to
this day.
1950–1969
In 1951, Wyeth launched
Antabuse, a drug
for the treatment of
alcoholism, as well
as the
antihistamine Phenergan.
Ansolyen was
launched the next year as a
high
blood pressure medication. The
anticonvulsant Mysoline was introduced in 1954. Other drugs
introduced during this time include
Isordil,
a
vasodilator for treatment of
angina,
Dryvax, a
freeze-dried smallpox vaccine, and Ovral, a
combined oral contraceptive
pill. Pharmaceuticals were generating an ever-increasing
percentage of Wyeth's sales.
Wyeth became a leading US vaccine producer after supplying
polio vaccine for
Salk
trials. The corporate headquarters were moved to
Radnor, Pennsylvania, where they remained until 2003.
William F. Laporte became the Chairman and President of AHP in
1965, and served until 1981.
The
World Health
Organization initiated the
Global Smallpox Eradication
Program in 1967, and approached Wyeth to develop a better
injection system for smallpox vaccines which could be used in the
field. Wyeth waived
patent royalties on its
innovative
bifurcated needle,
aiding in the delivery of over 200 million smallpox vaccines per
year.
1970–1989
Wyeth's oral contraceptives became extremely popular in the US.
John W. Culligan, after becoming Chairman and CEO in 1981, spun off
less profitable lines and focused resources on consumer and
prescription drugs. Wyeth made history in 1984 with the
introduction of
Advil, the first
nonprescription
ibuprofen in America, as
well as the most famous prescription-to-OTC switch in
history.
John R. Stafford became CEO and Chairman in 1986. He completed the
divestiture of non-core businesses such as household products,
foods, and candy. Wyeth and
Ayerst merged to
form Wyeth-Ayerst Laboratories, thus strengthening and
consolidating Wyeth's pharmaceutical operations.
In the late 1980s, Wyeth acquired the animal health businesses of
Bristol-Myers and
Parke-Davis. David J. Richards, M.D. was
appointed to the Vice President position. Wyeth also acquired A.H.
Robins, makers of
Robitussin,
ChapStick,
Dimetapp, and
the
Dalkon Shield.
1990–1999
Premarin becomes the #1 prescribed drug in
the US in 1993. Effexor (
venlafaxine
HCl), the first
serotonin-norepinephrine
reuptake inhibitor (SNRI), is introduced for the treatment of
clinical depression and is later
indicated for
generalized
anxiety disorder and
social
anxiety disorder.
In 1993, Wyeth founded the
Women's Health Research
Institute, the only institute in the pharmaceutical
industry entirely dedicated to research in women's health. The
Institute conducts trials in
menopausal
issues,
endometriosis,
contraception, and more.
In 1994, Wyeth acquired
American
Cyanamid and its subsidiary Lederle Laboratories. This
acquisition brought the Lederle Praxis vaccines, new
research and development capacity,
and
Centrum, the leading US
multivitamin. Wyeth's sales topped
US$13 billion in 1995; two
years later,
Premarin became the company's
first brand to reach
US$1
billion in sales.
In 1995, Wyeth acquired the animal health division of
Solvay, which was folded into
Fort Dodge Animal Health. The
acquisition gave Fort Dodge Animal Health strong market presence in
Europe and Asia as well as expanding its product portfolio to
include swine and poultry vaccines.
In 1997, Wyeth's controversial diet drug
fenfluramine was taken off the market by the
U.S.
Food and
Drug Administration (FDA) after several reports of deaths and
other health problems associated with the drug combination known as
fen-phen occurred.
In 1998, American Home Products was left at the altar by British
pharma powerhouse
SmithKline
Beecham, who pulled the plug on the estimated $70 billion
merger. The deal was reportedly killed in response to British
regulators who feared losing jobs to a proposed US headquarters
location. (SmithKline Beecham merged with fellow Brit
Glaxo Wellcome in 1999 to form the world's
leading drug company.) This was the start of a three-year losing
streak in the mergers and acquisitions game for AHP.
In 1999, another American Home Products merger fell through, this
time a proposed $34 billion merger-of-equals with chemical and
biotech manufacturer
Monsanto
Company. Though the companies issued a combined statement
saying the breakup was mutual "because (the deal) was not in the
best interests of shareholders," rumors circulated that AHP had
canceled the deal due to issues in the soon-to-be-combined
boardroom. (Monsanto announced in December 1999 that it would merge
with
Pharmacia &
Upjohn instead; the new conglomerate eventually
unloaded Monsanto again, before being bought themselves by
Pfizer in 2003.)
2000–2009
- In 2000, American Home Products lost a US$65 billion friendly takeover bid for
rival drug company Warner-Lambert in
their most dramatic merger loss yet . After the merger
announcement, Pfizer offered a competing
hostile bid, primarily to save their half of a Lipitor joint venture with Warner (at the time the
#1 prescription drug in the world) . At one point talks were under
way in which Procter &
Gamble would help by buying both companies in a wild three-way
merger, a rumor which cost P&G a 10% drop in its stock price .
Eventually, despite both CEOs going on tour to defend the deal to
shareholders, Pfizer won Warner-Lambert and formed the second
largest drug company in the world, while AHP had to settle for a
US$1.8 billion poison-pill payment .
- Robert Essner, the company's former CEO, was appointed in 2001.
On September 27, 2007, the Wyeth Board of Directors elected Bernard
Poussot President and Chief Executive Officer effective on January
1, 2008.
- In 2002, American Home Products changed its name to Wyeth,
having spun off unrelated businesses in order to focus on
pharmaceuticals.
- Wyeth, as a corporation, filed a 'citizens complaint' with the
United States FDA on October 16, 2005, requesting that the US FDA
take action against pharmacies who compound, manufacture, or sell
unlicensed bio-identical hormone
replacement therapy (BHRT) drugs to their patients.
Specifically, Wyeth asserted that the BHRT drugs are not licensed
by the FDA according to section 505 of the Food, Drug and Cosmetic
Act, misbranded and adulterated per sections 501 and 502 of 21
U.S.C. (paragraphs 351, 352, and 355). Drug manufacturers are
required to demonstrate through clinical trials that marketed drugs
are safe and efficacious, a process that BHRT drugs have not
undergone. If honored, the request would require the same safety
and efficacy data for those primarily engaged in alternative medicine.
- In 2008 the CFO and CEO were replaced.
- During June 2009, an Arkansas federal judge granted public
access to evidence that Wyeth Pharmaceuticals “ghostwrote” medical
articles regarding its hormone therapy drug Prempro. Along with
The New York Times, PLoS
Medicine, represented by the law firm Public Justice, had sought to
intervene in a court case of women bringing an action in relation
to Prempro and other hormone therapy drugs, in order to unseal
papers that allegedly showed that Wyeth failed to disclose its role
in preparing medical journal articles promoting Prempro and in
recruiting academic authors to put their names on the articles for
publication—that is that they practised ghost writing.
- On October 15, 2009 Pfizer signed the final acquisition papers
making Wyeth a wholly owned subsidiary of Pfizer. Thus completing
the US$68 billion dollar
deal.
Divisions
Wyeth Consumer Healthcare
Wyeth Consumer Healthcare (formerly Whitehall-Robins
Consumer Healthcare) operates in over 65 countries. The division
had sales of $2.5 billion in 2004 and is the fifth largest
over-the-counter health products company in the world.
Wyeth Pharmaceuticals
Wyeth Pharmaceuticals, formerly Wyeth-Ayerst Laboratories,
is the original company founded by the Wyeth brothers, originally
known as John Wyeth and Brother. They focus on the research,
develop, and marketing of prescription drugs. The pharmaceuticals
division is further subdivided into five subdivisions: Wyeth
Research, Prescription Products, Biotech, Vaccines, and
Nutritionals.
Fort Dodge Animal Health
Fort Dodge Animal Health was founded in 1912 by Daniel E.
Baughman as "Fort Dodge Serum Company". The company was established
in Fort Dodge, Iowa, to manufacture hog cholera serum. It became a
division of American Home Products (now Wyeth) in 1945. They are a
leading manufacturer of prescription and over-the-counter vaccines
and pharmaceuticals for veterinary medicine as well as livestock.
Its global
headquarters are located in Overland Park
, Kansas. Pfizer plans to divest some of the
Fort Dodge Animal Health products it acquired with Wyeth.
Innovative Fort Dodge products include
West Nile-Innovator,
Duramune Adult,
CYDECTIN Pour-on, the
Pyramid vaccine line,
Quest
Gel, and
EtoGesic
Tablets.
Products
Wyeth Consumer Healthcare Products
Wyeth Pharmaceuticals Products
Fort Dodge Animal Health Products
- Barricade
- Biodectin Sheep Vaccine and wormer (moxidectin)
- Bursine-2/Bursine Plus/Bursine K Poultry Vaccines
- Cefa-Lak/Cefa-Dri
- CYDECTIN (moxidectin)
- Dicural
- Duramune Dog Vaccines
- Duvaxyn Horse Vaccines
- EtoGesic Tablets
- Ewegaurd Sheep Vaccine and wormer (moxidectin) {{nb5}]
- Fel-O-Guard Cat Vaccines
- Fel-O-Vax Cat Vaccines
- Fluvac Innovator Horse Vaccine
- GiardiaVax Dog Vaccine
- Ketaset
- LeptoVax Dog Vaccine
- LymeVax Dog Vaccine
- Nolvasan
- PestVac Pig Vaccine
- Pinnacle I.N. Horse Vaccine
- Pneumobort Horse Vaccine
- Polyflex
- Poulvac Poultry Vaccines
- Presponse Cattle Vaccines
- ProHeart 6/ProHeart SR-12 (moxidectin) Heartworm
preventative
- ProMeris for dogs and cats
- Provac Poultry Vaccines
- PYRAMID Cattle Vaccines
- Quest/Equest Gel (moxidectin)
- Rabon Ear Tags for Cattle
- Rabvac Rabies Vaccine for Dogs
- Supona
- Suvaxyn Pig Vaccines
- Synanthic
- SYNOVEX Implants
- Telazol
- ToDAY/ToMORROW
- Torbugesic-SA
- Triangle Cattle Vaccines
- TriReo Poultry Vaccine
- Vetdectin (moxidectin) (New
Zealand)
- Weanergaurd Sheep Vaccine and wormer (moxidectin)
- Websters Cattle, Sheep and Poultry Vaccines (Australia)
- West Nile Innovater Horse Vaccine
Wyeth Milk Products
- Prenatal
- Hospital
- First Age
- Second Age
- Bonamil
- Promil
- Promil Gold
- Third Age (Stage 3)
- Bonakid
- Procal
- Procal Gold
- Progress
- Progress Gold
- Promil Kid
- Fourth Age (Stage 4)
- Bonakid Pre-School
- Promise
- Promise Gold
- Promil Pre-School
- Progress Pre-School
- Progress Pre-School Gold
- Special Feeder
- Nursoy
- Procal Lactose-Free
- Promil Lactose-Free
- Promise Lactose-Free
- S-26 Lactose-Free
- Adult
Prevnar
On July 1, 2006, Wyeth launched
Prevnar —
its international
vaccine for
Invasive Pneumococcal Disease
(IPD) — in India. Prevnar is the first and only
pneumococcal conjugate
vaccine for infants and children which protects against
pneumococcal disease like
meningitis,
bacterial pneumonia,
septicaemia and
bacteraemia (bacteria in the blood.)
References
-
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B104B1CE4%2DEB51%2D42C7%2DB2F9%2D75947C58E08A%7D
- Pfizer’s $68 Billion Wyeth Deal Eases Lipitor
Loss
-
http://www.forbes.com/finance/mktguideapps/personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=895899
- Wyeth's investor FAQ
-
http://www.wyeth.com/irj/servlet/prt/portal/prtroot/com.sap.km.cm.docs/wyeth_xml/home/news/announcements/1170158273391.pdf
- Wyeth Asks FDA: Prohibit Bio-Identical
Hormones
-
http://www.fda.gov/ohrms/DOCKETS/dockets/05p0411/05p-0411-cp00001-01-vol1.pdf
- Hormone food scandal rocks Europe
- Drug giant linked to immunisation campaign
- Successful intervention by PLoS Medicine and The
New York Times in Federal court grants public access to evidence
that drug company ‘ghostwrote’ medical articles about hormone
therapy drug, Prempro
- http://www.pfizerah.com/divestedproducts_889
-
http://www.pfizer.com/news/press_releases/pfizer_press_releases.jsp?rssUrl=mediaroom.pfizer.com/portal/site/pfizer/index.jsp?ndmViewId=news_view&ndmConfigId=1016273&newsId=20091019006355&newsLang=en
- Wyeth Over-the-Counter Products
- Wyeth Prescription Products
- Wyeth Animal Health Products
External links
, a large-scale clinical trial for Hormone Replacement Therapy
showed that long-term use of progestin and
estrogen may increase the risk of strokes, heart
attack, blood clots, and breast cancer. Following these results,
Wyeth experienced a significant decline in its sales of Premarin,
Prempro (conjugated equine estrogens) and related hormones , from over $2
billion in 2002 to just over $1 billion in 2006. The results from
the study were significant enough that Wyeth terminated the trials
early due to a fear that their participants may be at risk.
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