Company Overview
Five Giralda Farms
Madison, NJ 07940
United States
Founded in 1926
47,426 Employees
Key Executives
Key developments for Wyeth
The U.S. Court of Appeals for the Eighth Circuit upheld a jury verdict in Donna Scroggin v. Wyeth, et al. awarding Scroggin $2.7 million in compensatory damages for the breast cancer she developed after taking Prempro. However, the appeals court vacated the more than $27 million in punitive damages the jury levied against Wyeth and Pharmacia & Upjohn, a separate Pfizer unit that makes Provera (medroxyprogesterone acetate), one of the components of Prempro. The court remanded the case to the U.S. District Court for the Eastern District of Arkansas for a new trial to determine the punitive damages.
Australian Financial Review reported that Sanofi-Aventis and Merck KGaA may be among bidders in the AUD 900 million sale of iNova Pharmaceuticals (Australia) Pty Limited. The report added that Archer Capital Pty. Ltd. and Ironbridge Capital Pty Ltd have short-listed bidders for iNova. It noted that GlaxoSmithKline Plc and Wyeth are also logical bidders for the business. It was reported that second-round offers are expected in December.
A Philadelphia jury is weighing punitive damages against Wyeth after finding a link between an Illinois woman's breast cancer and the hormone-replacement drug she took. Connie Barton's case is one of a handful of Prempro lawsuits to go to trial out of several thousand filed across the country. About 1,500 are pending in Philadelphia. The Philadelphia jury awarded $3.75 million in compensatory damages. They say the company's actions were willful and warrant punitive damages.
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Recent Private Companies Transactions
| Type Date |
Target |
|
Merger/Acquisition
June 29, 2009 |
Wyeth, Portfolio of Products |
|
Merger/Acquisition
January 25, 2009 |
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