Wyeth increases stake in Wyeth K.K. Japan to 80%

By E. Janene Geiss

Philadelphia, April 7 - Wyeth announced Friday the purchase of an additional 10% stake in Wyeth K.K., bringing Wyeth's ownership interest in the Wyeth/Takeda Pharmaceutical Co. Ltd. joint venture to 80%.

Wyeth's purchase was made pursuant to an equity transfer agreement between Wyeth and Takeda in May 2003, officials said in a company news release. Financial details of the equity transfer are confidential.

Enbrel and Mylotarg, biological products launched in Japan in 2005, are helping to drive Wyeth K.K.'s rapid growth.

"The partnership between Wyeth and Takeda to co-promote Enbrel should help make Japan one of the strongest markets for this important biotech product," Bernard Poussot, president of Wyeth Pharmaceuticals, said in the release.

The history of Wyeth K.K. begins in 1953 with Lederle, Ltd., a 50-50 joint venture between the American Cyanamid Co. and the then Takeda Chemical Industries, Ltd. In 1994, American Home Products Corp., now Wyeth, acquired American Cyanamid, making it a joint venture between Wyeth and Takeda.

Wyeth is a research-driven pharmaceutical and health care products company. It develops, manufactures and markets pharmaceuticals, vaccines, biotechnology products and non-prescription medicines. The company's major divisions include Wyeth Pharmaceuticals, Wyeth Consumer Healthcare and Fort Dodge Animal Health.

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