Wyeth

This article is about the corporation. For other uses of the word, see Wyeth (disambiguation).
Wyeth
Public
Traded as NYSE: AHP (until 2002)
NYSE: WYE (2002–2009)
Industry Pharmaceuticals,
Healthcare
Fate Acquired by Pfizer, infant nutrition acquired by Nestlé
Founded (1860) Philadelphia, Pennsylvania, U.S.
Number of locations
 Collegeville, Pennsylvania and Madison, New Jersey United States
Key people
 Bernard J. Poussot, CEO, President and Vice Chairman of Wyeth
Robert Essner, Chairman
Joseph Mahady, President, Global Business, Wyeth Pharmaceuticals
John Wyeth, Founder
Products Premarin,
Effexor,
Enbrel,
(See more products.)
Revenue Increase US$ 22.4 billion (2008)
Increase US$ 4.6 billion (2008)
Number of employees
 49,732 (2005)
Parent Pfizer
Website Formerly www.wyeth.com (now part of Pfizer). Baby nutrition: www.wyethnutrition.com (part of Nestlé)

Wyeth was a pharmaceutical company purchased by Pfizer in 2009. The company was founded in Philadelphia, Pennsylvania, in 1860 as John Wyeth and Brother. It was later known as American Home Products before being renamed to Wyeth in 2002. Its headquarters moved to Collegeville, Pennsylvania, and Madison, New Jersey, before its headquarters were consolidated with Pfizer's in New York City after the 2009 merger. The infant and maternal nutrition business was acquired by Nestlé in 2012.

Wyeth manufactured over-the-counter (OTC) drugs Robitussin and the analgesic Advil (ibuprofen) as well as prescription drugs Premarin and Effexor.

History

1860–1899

In 1860, pharmacists John (1834–1907) 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 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, and they sold the retail business and focused on mass production. Cobalt blue glass bottles embossed with either "Wyeth" or "John Wyeth & Brother" in the glass are among the most popular antique bottles sought after by collectors.

1900–1929

John Wyeth died in 1907 and his only son, Stuart, became the company's president. The Whitehall building in downtown Manhattan became the corporation's first headquarters. Global sales increased 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 organization and served for 30 years. Under Brush's leadership, 34 new companies were acquired in 15 years, including Chef Boyardee and the S.M.A. Corporation, a pharmaceutical firm specializing in infant formulas. Wyeth also made its first licensing deal, acquiring an antibiotic for arthritis vaccine research.

In 1941, the US 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 was a flagship product for Wyeth until 2002, when preliminary results from the Women's Health Initiative linked it to a number of negative effects, including increased risk for breast cancer. Sales subsequently fell off worldwide.

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, entering the animal health field.

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 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 (for example the Slaymaker lock company), foods, candy (Brach's Candy), and medical devices (e.g., its Sherwood-Medical Company was sold to Tyco-Kendal in 1997). 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. Wyeth also acquired A.H. Robins, makers of Robitussin, ChapStick, Dimetapp, and the Dalkon Shield merging it into its Whitehall unit to establish its Whitehall-Robins Division.

1990–1999

In 1990, Reckitt & Colman (now Reckitt Benckiser) acquires Boyle-Midway from American Home Products. After a dediction of the food business, the PAM trademark becomes part of American Home Foods.

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 1996, American Home Products spun off its food unit as International Home Foods. International Home Foods was purchased by ConAgra Foods in 2000. Wyeth also purchases full ownership of Genetics Institute, Inc. after acquiring a majority interest in 1992.[1]

In 1997, the U.S. Food and Drug Administration (FDA) requested that Wyeth withdraw its controversial diet drug fenfluramine from the market by after several reports of deaths and other health problems associated with the drug combination known as fen-phen occurred.[2]

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

On January 23, 2009, The Wall Street Journal reported that Pfizer was in talks to buy Wyeth at a cost of US$68 billion.[3] On January 25, Pfizer agreed to the purchase, a deal financed with cash, shares and loans.[4] The deal was completed on October 15, 2009.[5] The purchase was approved by the SEC and went into effect later in 2009, although vestiges of Wyeth remained for another year or two while effects of the merger were ironed out.

2012-present

Subsidiaries

Wyeth Consumer Healthcare

Wyeth Consumer Healthcare (formerly Whitehall-Robins Consumer Healthcare) operated throughout the world. The consumer healthcare division had sales of $2.5 billion in 2004 and was at the time 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 focused on the research, development, and marketing of prescription drugs. The pharmaceuticals division was further subdivided into five subdivisions: Wyeth Research, Prescription Products, Biotech, Vaccines, and Nutritionals. Wyeth's research and development director Robert Ruffolo was quoted in the New York Times about the firm's efforts to develop new drugs.[14][15]

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 in 1945. It is a leading manufacturer of prescription and over-the-counter veterinary vaccines and pharmaceuticals. Its global headquarters are located in Overland Park, Kansas.[16][17]

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

  • Advil[18]
  • Advil Allergy Sinus Caplets
  • Advil Allergy & Congestion Relief Tablets
  • Advil Caplets
  • Advil Cold & Sinus Caplets
  • Advil Cold & Sinus Liqui-Gels
  • Advil Congestion Relief
  • Advil Gelcaps
  • Advil Liqui-Gels
  • Advil PM Caplets
  • Advil PM Liqui-Gels
  • Advil Sodium Ibuprofen (Fast-Acting)
  • Alavert
  • Anadin
  • Anbesol
  • Caltrate
  • Centrum
  • Centrum Silver/Select
  • ChapStick
  • Clusivol
  • Clusivol Power-C (Syrup for kids and Tablet for adults)
  • Children's Clusivol
  • Dimetapp
  • Dristan
  • Fibrosine
  • Incremin
  • Loviscol
  • Polymagma
  • Preparation H
  • Robitussin
  • Robikids
  • Robitol (now defunct)
  • Simeco
  • Stresstabs
  • Today condoms
  • Z-bec

Wyeth Pharmaceuticals Products

Fort Dodge Animal Health Products

  • Barricade[20]
  • 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)
  • 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)
  • Weanerguard Sheep Vaccine and wormer (moxidectin)
  • Websters Cattle, Sheep and Poultry Vaccines (Australia)
  • West Nile Innovater Horse Vaccine

Wyeth Milk Products

Prenatal
  • Materna
  • Wyeth ProMAMA

Hospital

  • S-26 HMF
  • S-26 LBW GOLD           

First Age

Second Age

  • Bonamil
  • Promil
  • Promil Gold

Third Age (Stage 3)

  • Bonakid
  • Progress Gold
  • Promil Kid

Fourth Age (Stage 4)

  • Bonakid Pre-School
  • Promil Pre-School
  • Progress Pre-School Gold

Special Feeder

  • Nursoy
  • Procal Lactose-Free
  • Promil Lactose-Free
  • Promise Lactose-Free
  • S-26 Lactose-Free

Adult

  • Enercal Plus

Prevnar

Prevnar was approved by the US FDA on February 17, 2000, for the immunization of infants at 2, 4, 6 and 12–15 months of age to prevent invasive pneumococcal disease.[21]

On July 1, 2006, Wyeth launched Prevnar — its international vaccine for Invasive Pneumococcal Disease (IPD) — in India. Prevnar is the only pneumococcal conjugate vaccine for infants and children which protects against pneumococcal disease like meningitis, bacterial pneumonia, septicaemia and bacteraemia (bacteria in the blood.)

Controversies

Rapamune

A "whistleblower suit" was filed against Wyeth in 2005 alleging that the company illegally marketed their drug Rapamune. Wyeth is targeted in the suit for off-label marketing, targeting specific doctors and medical facilities to increased sales of Rapamune, trying to get current transplant patients to change from their current transplant drugs to Rapamune and for specifically targeting African-Americans. According to the whistleblowers, Wyeth also provided doctors and hospitals with kickbacks to prescribe the drug in the form of grants, donations and other money.[22][23] A US House of Representatives committee, led by Rep. Edolphus Towns is investigating Wyeth for these abuses.[24][25]

Prempro

Wyeth was sued for its marketing of Prempro, a hormone replacement therapy, which was implicated in the cancers of 14,000 patients. Wyeth was particularly criticised by observers for its use of 'ghostwriters' to put their names to research papers that Wyeth had paid a third party, DesignWrite, to prepare.[26]

Diet-Drug: Dexfenfluramine (Phentermine/Fenfluramine, aka,"Fen-Phen")

The drug combination fenfluramine/phentermine, usually called "fen-phen," was an anti-obesity treatment. Fenfluramine was marketed by Wyeth as Pondimin, but was shown to cause potentially fatal pulmonary hypertension and heart valve problems.

For more information refer to the article Fenfluramine/phentermine.

References

  1. ↑ History of Wyeth at ´Fundinguniverse.com. Retrieved 25.10.2012.
  2. ↑ Centers for Disease Control and Prevention (CDC) (1997). "Cardiac valvulopathy associated with exposure to fenfluramine or dexfenfluramine: U.S. Department of Health and Human Services interim public health recommendations, November 1997". MMWR. Morbidity and mortality weekly report 46 (45): 1061–1066. PMID 9385873.
  3. ↑ "Pfizer in talks to acquire Wyeth in $60 billion deal: WSJ". MarketWatch. Retrieved 2012-08-11.
  4. ↑ Pettypiece, Shannon (2009-01-26). "Pfizer’s $68 Billion Wyeth Deal Eases Lipitor Loss". Bloomberg.com. Retrieved 2012-08-11.
  5. 1 2 "Pfizer: Wyeth Transaction". Retrieved October 25, 2009.
  6. ↑ http://web.archive.org/web/20090201073605/http://www.forbes.com:80/finance/mktguideapps/personinfo/FromPersonIdPersonTearsheet.jhtml?passedPersonId=895899. Archived from the original on February 1, 2009. Retrieved November 13, 2007. Missing or empty |title= (help)
  7. ↑ Wyeth's investor FAQ
  8. ↑ http://www.wyeth.com/irj/servlet/prt/portal/prtroot/com.sap.km.cm.docs/wyeth_xml/home/news/announcements/1170158273391.pdf Archived November 27, 2007, at the Wayback Machine.
  9. ↑ Botha, S (2005-10-06). "Submission of Citizen Petition on Behalf of Wyeth" (PDF). FDA. Retrieved 2010-01-27.
  10. ↑ "Hormone food scandal rocks Europe". Newscientist.com. 2002-07-16. Retrieved 2012-08-11.
  11. ↑ Hughes, Gary (2003-12-22). "Drug giant linked to immunisation campaign". Melbourne: Theage.com.au. Retrieved 2012-08-11.
  12. ↑ 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 Archived August 14, 2009, at the Wayback Machine.
  13. ↑ "Nestle close to buying Wyeth", Global Times, 2012-04-18, archived from the original on November 16, 2012
  14. ↑ Gina kolata (March 28, 2004). "Ideas & Trends: Of Mice and Men; Why Test Animals to Cure Human Depression?". The New York Times. Retrieved 2010-12-26. But Dr. Robert R. Ruffolo, president of research and development at Wyeth,...
  15. ↑ Andrew pollack (June 14, 2010). "Awaiting the Genome Payoff". The New York Times. Retrieved 2010-12-26. “If on the first day we had discovered a new molecular target, it’s still going to take 15 to 20 years to make the drug,” said Robert R. Ruffolo Jr., who ran research and development at Wyeth until 2008.
  16. ↑ "Pfizer Animal Health Information - Cows, Cattle, Pig, Cat, Dog & Horse". Pfizerah.com. Retrieved 2012-08-11.
  17. ↑ "Press Releases | Pfizer: the world's largest research-based pharmaceutical company". Pfizer. Retrieved 2012-08-11.
  18. ↑ "Wyeth Over-the-Counter Products". Wyeth.com. Archived from the original on February 24, 2010. Retrieved 2012-08-11.
  19. ↑ "Wyeth Prescription Products". Wyeth.com. Archived from the original on March 15, 2010. Retrieved 2012-08-11.
  20. ↑ "Wyeth Animal Health Products". Wyeth.com. Archived from the original on June 16, 2010. Retrieved 2012-08-11.
  21. ↑ "Vaccines, Blood & Biologics". US FDA. Retrieved 11 August 2012.
  22. ↑ "Wyeth Marketing Targeted Blacks Illegally: Lawsuit // Pharmalot". Pharmalot.com. 2010-05-24. Retrieved 2012-08-11.
  23. ↑ Tracy Staton (2010-06-14). "Congress joins probe into Wyeth's Rapamune marketing". FiercePharma. Retrieved 2012-08-11.
  24. ↑ Richwine, Lisa (June 11, 2010). "UPDATE 1-U.S. panel probes marketing of Wyeth transplant drug". Reuters.
  25. ↑ U.S. Lawmakers to Investigate Wyeth Illegal Marketing (Update2) - BusinessWeek Archived June 15, 2010, at the Wayback Machine.
  26. ↑ Medical ghostwriters who build a brand | Comment is free | The Guardian, Guardian Archived 28 February 2011 at WebCite

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