David J. Richards, M. Wyeth also acquired A. Premarin becomes the 1 prescribed drug in the US in 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 , Wyeth founded the Women's Health Research Institute , the only institute in the pharmaceutical industry entirely dedicated to reasearch in women's health.
The Institute conducts trials in menopausal issues, endometriosis , contraception , and more. This acquisition brought the Lederle Praxis vaccines, new research and development capacity, and Centrum , the leading US multivitamin. 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 , Wyeth's controversial diet drug fenfluramine was taken off the market by the US Food and Drug Administration FDA after several reports of deaths and other health problems associated with the drug combination known as fen-phen occurred.
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 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. 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.
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.
The company was established in Fort Dodge, Iowa, to manufacture hog cholera serum. It became a division of American Home Products now Wyeth in 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. 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. This article is about the corporation. Categories : All articles with unsourced statements Articles with unsourced statements from February Articles with invalid date parameter in template Wyeth Companies established in Companies listed on the New York Stock Exchange Multinational companies Pharmaceutical companies of the United States Wyeth brands.
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Who Uses Us. Customer Love. Predict your next investment. Prior to , infant formula was marketed strictly as a pharmaceutical product. Given historical product loyalty, formula makers offered their products free to pediatricians and hospitals in the hopes that the first formula a mother used would be the one she continued to purchase. According to a Business Week article, many doctors began to allege that hospitals promoted infant formula over breast-feeding--despite the inherent advantages of breast-feeding--because of the money and services received from manufacturers.
And when the federal government directed the states to purchase all their formula from one manufacturer to garner lower prices, formula manufacturers were forced to compete directly for Women, Infants and Children WIC contracts, which constituted about 35 percent of state formula purchases. In , the company added M. Polaner Inc. By , over 60 percent of AHP's global revenues came from pharmaceuticals. The company was not yet a strong pharmaceutical manufacturer, though. In , it reported only four products with patents extending beyond ; its two lengthiest patents lasted until In an industry such as the brand name pharmaceutical industry, which depended on the profits derived from monopolies conferred by patent protections, AHP was not in a good competitive position.
The company initiated a series of acquisitions and divestitures aimed at transforming itself into a major pharmaceutical company in This purchase expanded its product line to vaccines, cancer agents, and antibiotics. AHP also got a majority interest in Immunex Corp.
A major agricultural chemical business also came with the acquisition. Immunex rejected its attempt to purchase the remainder of the company. In , it purchased an animal health products company, and in , a vitamin and nutritional supplement manufacturer. To help pay for these purchases and to narrow its focus to human and animal pharmaceuticals, AHP sold many of its traditional product lines during these same years.
It disposed of its oral-care products in , of its ophthalmic business in , of its medical-device business in , of its agricultural chemicals business in , and of its branded generic injectable products in Between and , AHP also sold all of its food product business. In , AHP sold its interest in Immunex to Amgen and acquired a ten percent interest in that biotechnology company. AHP's restructuring efforts encountered several challenges.
During the s, the pharmaceutical industry was undergoing a major consolidation through mergers and acquisitions. AHP tried unsuccessfully to join the trend. Both of these proposed mergers failed. AHP followed this with an attempt to merge with Warner-Lambert in Despite continued rumors that AHP was a suitor or target of takeover attempts, management denied such ambitions. The company also confronted major legal problems. In , studies implicated two of the company's weight-loss drugs, Redux and fenfluramine Pondimin , in damage to users' heart valves, damage that might be fatal and sometimes required surgical replacement of the valve.
Later, AHP introduced Redux for the same purpose. The findings unleashed a wave of product liability lawsuits.
As late as , the company was not entirely sure of its total eventual liabilities. This uncertainty about its liability costs contributed greatly to AHP's inability to reach merger agreements during the s.
Despite these problems, AHP, which changed its name to Wyeth in , entered the 21st century with a strong pharmaceutical franchise.
With strengths in vaccines, biotechnology, and traditional pharmaceuticals, Wyeth's products spanned a wide range of treatment areas, and, on average, its pharmaceuticals had one of the longest remaining patent lives in the industry. It had about 60 potential products in its research pipeline. It had a powerful presence in the consumer health market. Through its Fort Dodge division, Wyeth also maintained a significant presence in the animal health market.
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