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May 04, 2015 1:38 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

Founded in 2002

Phone:

610-902-1200

Fax:

610-995-4668

Key Executives for Wyeth Pharmaceuticals, Inc.

Chief Financial Officer and Executive Vice President
Age: 60
President of Europe, Middle East, Africa & Canada
Age: 56
Executive Vice President
Age: 66
Executive Vice President
Executive Vice President of Vaccines Research & Development
Age: 61
Compensation as of Fiscal Year 2014.

Wyeth Pharmaceuticals, Inc. Key Developments

Attorneys General Reaches Settlement Agreement with Wyeth Pharmaceuticals Inc

Texas Attorney General Greg Abbott and 41 other state attorneys general secured a $35 million agreement with Wyeth Pharmaceuticals Inc. The agreement resolves a multistate investigation against Wyeth for unlawfully promoting its immunosuppressive drug Rapamune. Under the settlement agreement, Pfizer must pay the State of Texas a total of $2.387 million. The agreement orders $1.591 million of the settlement funds to be disbursed to the General Revenue or the Supreme Court Judicial Fund, as appropriate, pursuant to Texas Government Code Sec. 402.007. The remaining funds will reimburse the State's legal fees.

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.

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