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Wyeth Limited (Wyeth) the Indian subsidiary of US-based Pharma Company Wyeth and now a Pfizer group company, is a global leader in pharmaceutical, consumer healthcare and animal health products. It was established in 1947 as a private limited company under the name Lederle Laboratories (India) Ltd. In 1962, the name was changed to Cyanamid India Ltd. The company became a public enterprise in 1965. In 1998, three companies - Wyeth Laboratories, John Wyeth India and Wyeth India (Pvt) Ltd -- were transferred to the company and its name was changed to Wyeth Lederle Ltd. In 2003, Geoffrey Manners & Co Ltd was merged and the name of the company was changed to Wyeth Ltd.
The pharmaceuticals business of the company comprises bulk drugs and formulations, such as oral contraceptives, hormone replacement therapy, antibiotics, vaccines, steroids and other prescription medicines. The company also manufactures OTC pharmaceuticals, cosmetics, toiletries and other allied consumer products. It has a manufacturing facility in Goa. The company was a pioneer, introducing several new therapies such as hormone therapy, in India. In the field of vaccines, the company introduced vaccines against HIB and invasive pneumococcal disease.
It has launched several products that are known internationally such as Enbrel-for treatment for rheumatoid arthritis, Rapamune- an immuno suppressant for prevention of rejection after renal transplant and Prevenar- a pneumococcal conjugate vaccine. The company launched the world's first glycilcycline antibiotic, Tygacil. Wyeth manufactures drugs in areas of antibiotics, steroids, vaccines, cardiovascular system, vitamins and hematinics, central nervous system and immunology.
On November 23, 2013, the Board of Directors of Pfizer India and Wyeth India at their meetings approved a proposal to merge Wyeth India with Pfizer India. The appointed date for the merger was April 1, 2013, the swap ratio, post interim dividend for the merger was 7 shares of Pfizer India (face value of Rs 10 each), for every 10 shares of Wyeth India (face value of Rs 10 each)
Milestones
Acquisition of Wyeth, USA by Pfizer Inc
In 2009, Wyeth of USA merged with Wagner Acquisition Corp, a direct, wholly-owned subsidiary of Pfizer Inc. As a result of the merger, Pfizer Inc is now the parent company of Wyeth and hence the ultimate parent of the Indian company. Pfizer acquired Wyeth for $68 billion in order to diversify its product portfolio, which includes Wyeth's major biotech drugs and vaccines. In India, Pfizer Ltd and Wyeth Ltd continue as two separate entities.
FY09: Strong performance from key products; new product launches
In the period ended November 30, 2009 Wyeth continued to maintain its leadership position in oral contraceptives, hormone therapy and folic acid markets. Two key products saw strong growth -- Enbrel, a breakthrough treatment for rheumatoid arthritis and psoriasis, achieved growth of 38%, while Prevenar, a vaccine for invasive pneumococcal disease, achieved growth of 75%. An applicator “Anne French roll-on” with additional features attracted new consumers. The newly launched Anacin Multi-Pain has broadened the brand’s relevance for consumers by targeting more usage occasions than before.
FY09: Strong performance from key products; new product launches
Wyeth exports pharmaceutical and healthcare products predominantly to the USA, Europe and Japan. As of November 2009, exports accounted for 30% of its total turnover.
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