Wyeth Ltd Merged Company Summary

Wyeth Ltd Merged Summary

Wyeth Ltd, a subsidiary of Wyeth, USA is a global leader in pharmaceuticals, consumer healthcare and animal health products. The company is a market leader in oral contraceptives, hormone Therapy, folic acid and depilatory cream. The Company operates in two segments: pharmaceuticals and others. The pharmaceuticals segment comprises formulations. Formulations comprise oral contraceptives, hormone replacement therapy, antibiotics, vaccines, steroids and other prescription medicines. The others segment comprises over-the-counter pharmaceuticals, cosmetics and other allied consumer products. The company has state-of-the-art manufacturing facility in Goa. Wyeth pioneered the introduction of several new therapies in India. The company was the first to launch hormone therapy. In the field of vaccines, the company introduced vaccines against HIB and invasive pneumococcal disease in the country. Enbrel, a breakthrough treatment for rheumatoid arthritis and Rapamune, an immuno suppressant for prevention of rejection after renal transplant, Prevenar, a pneumococcal conjugate vaccine and Tygacil, the worlds first glycilcycline antibiotic, are among internationally known products launched by Wyeth Ltd in India. Wyeth Ltd was incorporated on September 20, 1947 as a private limited company under the name Lederle Laboratories (India) Ltd. Subsequently, the name was changed to Cynamid India Ltd after their conversion into a public limited company on November 1, 1965. Subsequently, as part of restructuring, the agro-chemical business of Cynamid India Ltd was transferred to Cynamid Agro Ltd.In April 1997, Cynamid India Ltd merged with the Wyeth Group of companies, Wyeth Laboratories Ltd, John Wyeth (I) Ltd and Wyeth India (P) Ltd. Subsequently, the name of the company was changed to Wyeth Lederle Ltd. On April 1, 2003, pursuant to a Scheme of Amalgamation, the assets, liabilities and reserves of Geoffrey Manners & Co Ltd were transferred to the company with effect from April 1, 2003 and the name of the company was changed to Wyeth Ltd.The company set a state-of-the-art solid dosage facility plant at Verna, Goa at a total cost of Rs 54 crore. The plant commenced their commercial production in June 2002. During the year 2002-03, the company launched RAPAMUNE, an immunosuppressant, for the prevention of organ rejection after transplantation.During the year 2003-04, the company launched ENBREL which is a breakthrough treatment for Rheumatoid Arthritis. They also launched RAPAMUNE, an immunosuppressant for prevention of rejection after renal transplantation.During the year 2004-05, the company sold their bulk drug manufacturing facility at Ghatkopar, Mumbai, as a going concern on slump sale basis to Ariane Orgachem Pvt Ltd. The company dissolved Credence Investment and Finance Ltd on July 21, 2004. Also, they dissolved Magnet Pharma and Allied Products Ltd and Keystone Pharma Ltd, wholly owned subsidiaries of the company during the year.In April 2006, the company assigned the Forhans trade marks to John Oak Remedies Pvt Ltd, and the know-how for manufacture of toothpaste, toothpowder and toothbrushes was licensed to them on a non-exclusive basis for a consideration of Rs 2.25 crore on transaction. During the year 2006-07, the Consumer Health Care division launched the 60 gm tube pack of their product, Anne French .This division is working towards strengthening the consumer franchise for the Analgesics and Hair Remover products. During the year 2007-08, the company launched TYGACIL, a hospital injectable antibiotic for life threatening infections such as complicated intra-abdominal infections and complicated skin and skin structure infections.In January 2009, Wyeth, USA has entered into a definitive Merger Agreement with Pfizer, USA under which Pfizer, USA will acquire Wyeth, USA in a cash-and-stock transaction.