July 28, 2014 5:53 AM ET

Pharmaceuticals

Company Overview of Wyeth Pharmaceuticals, Inc.

Company Overview

Wyeth Pharmaceuticals, Inc. develops, manufactures, and markets pharmaceutical products to treat cardiovascular and gastrointestinal diseases, infectious diseases, cancer, women's health concerns, and depression. It offers antidepressant Effexor, estrogen replacement therapy Premarin, and acid reflux disease drug Protonix; XYNTHA, a recombinant factor VIII product for the control and prevention of bleeding episodes and surgical prophylaxis; and Prevnar 13, a pneumococcal 13-valent conjugate vaccine. The company also offers vaccines and nutritional products, including infant formulas and adult supplements. It serves health care professionals and patients in the United States and Canada. The c...

500 Arcola Road

Collegeville, PA 19426

United States

Phone:

610-902-1200

Fax:

610-995-4668

Key Executives for Wyeth Pharmaceuticals, Inc.

Vice Chairman
Age: 62
Chief Financial Officer and Executive Vice President
Age: 60
President of U S & Global New Business for Wyeth Consumer Healthcare
Age: 54
President of Scientific Affairs Women's Health
President of Europe
Age: 56
Compensation as of Fiscal Year 2014.

Wyeth Pharmaceuticals, Inc. Key Developments

Wyeth Pharmaceuticals, Inc. Settles Suit over Transplant Drug for $490 Million

Wyeth Pharmaceuticals, Inc. will pay $490 million to resolve allegations that it promoted one of its drugs for off-label uses. The Food and Drug Administration approved Rapamune in 1999 for use by kidney transplant patients. Rapamune is an immunosuppressive drug that prevents the body from rejecting a transplanted organ. Wyeth marketed the drug for patients who had transplants involving organs other than kidneys without prior approval. The settlement includes a criminal fine of $157.58 million and forfeiture of $76 million in assets. It also includes a $257.4 million civil settlement.

US Justice Department Fines Wyeth Pharmaceuticals $490.9 Million for Illegal Drug Marketing

Wyeth Pharmaceuticals has pleaded guilty to misbranding a drug that prevents the rejection of organ transplants and agreed to pay $490.9 million. The $490.9 million will resolve Wyeth's criminal and civil liability stemming from the unlawful marketing of the prescription drug Rapamune for uses not approved as safe and effective by the US Food and Drug Administration. The company, under a plea agreement that has been accepted by the US District Court in Oklahoma City, also has agreed to pay a criminal fine of $157.58 million and forfeit assets of $76 million.

Patient's Claims Pharmacia Inc., Pharmacia and Upjohn Corp., Wyeth, LLC and Wyeth Pharmaceuticals, Inc. in Prescription Drug Products Liability Case

The U.S. District Court for the Western District of Washington ruled that drug manufacturers are not entitled to the dismissal of a patient's punitive damages and product identification claims in her prescription drug products liability action but was entitled to the dismissal of her breach of express warranty claim. Faye Bryant brought a products liability action against Pharmacia Inc., Pharmacia and Upjohn Corp., Wyeth, LLC and Wyeth Pharmaceuticals, Inc. Bryant alleged she developed breast cancer as a result of ingesting combined hormone replacement therapy drugs manufactured by the defendants. Bryant asserted claims of negligence and breach of express warranty under the Washington Product Liability Act (WPLA) and fraud, and requested general and punitive damages. The defendants moved to dismiss the punitive damages claim as to Wyeth, all claims against Upjohn for failure of proof on product identification, the fraud claim, and breach of express warranty claim under the WPLA. The district court concluded that Pennsylvania law applied to any claim for punitive damages based on fraud against Wyeth since that was the place where the fraudulent conduct occurred and denied the defendants' motion to dismiss the claim for punitive damages. The court also concluded that Bryant had produced sufficient evidence of product identification with respect to Upjohn to create an issue of material fact for trial and denied the defendants' motion as to that issue. Moreover, the district court concluded Bryant had not demonstrated that the product label or other affirmative action of the defendants constituted an express warranty and granted the defendants' motion to dismiss Bryant's claim for breach of express warranty under the WPLA as to all defendants. The court deferred the question of whether Bryant's fraud claim should be dismissed.

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