News

Posted On: 04/03/2007

Wyeth Completes Buyout of Wyeth K.K. Japan

PharmaManufacturing.com

Wyeth recently announced the purchase of the final 20 percent stake of Wyeth K.K. (WKK), from Takeda Pharmaceuticals Co. Ltd. (Takeda), bringing Wyeth’s ownership interest in WKK to 100 percent.  Wyeth entered into an Equity Transfer Agreement with Takeda in May 2003.  Financial details of the equity transfer are confidential.

“The full ownership of WKK is part of the overall transformation of our operations in Japan.  The relationship between Wyeth and Takeda remains strong, and our current co-promotion of Enbrel with Takeda is central to making Japan one of the strongest markets for this important biotech product for the treatment of rheumatoid arthritis,” said Robert Essner, Wyeth chairman and chief executive officer.

Enbrel and Mylotarg, biological products launched in Japan in 2005, are helping to drive WKK’s growth.

The history of WKK began in 1953 with Lederle Japan, Ltd., a 50-50 joint venture between American Cyanamid Company and the then Takeda Chemical Industries, Ltd.  In 1994, American Home Products Corporation, now Wyeth, acquired American Cyanamid, making Lederle Japan a joint venture between Wyeth and Takeda.

Wyeth K.K. is engaged in a full range of pharmaceutical business activities, including developing, importing, manufacturing and marketing pharmaceutical products with the aim of becoming a leading company in the pharmaceutical industry in Japan.  Headquartered in Tokyo, Wyeth K.K. has approximately 1,000 employees.