Fitch affirms Wyeth

Fitch Ratings said it affirmed Wyeth's issuer default, senior unsecured and bank loan ratings at A-, and its commercial paper and short-term issuer default ratings at F2.

The outlook is stable.

Fitch said the affirmation follows Wyeth's late-January market introduction of a generic version of its fourth best-selling drug, Protonix, after negotiations with Teva Pharmaceuticals failed to produce a mutual agreement to end ongoing patent litigation.

Wyeth is poised to more or less offset the revenues losses from patent expiries with solid growth of other products, the agency said.

Leverage rose to 1.6 times in 2007 from a $2.5 billion debt issuance in March 2007, Fitch said.

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