Wyeth Pharmaceuticals invests further in Japan

Wyeth Pharmaceuticals has announced that it has purchased a further stake in the Wyeth/Takeda Pharmaceuticals joint Japanese venture, Wyeth KK.

The additional ten per cent purchased by Wyeth takes their ownership interest to 80 per cent of the joint venture, growth of which is boosted by Enbrel and Mylotarg, a biological products company launched in 2005.

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

Wyeth KK began in 1953 when it was a joint venture between American Cyanamid and Takeda Chemical Industries known as Lederle. In 1994, Wyeth, in its previous incarnation as American Home Products Corporation, purchased American Cyanamid.

No financial details have been released regarding the additional ten per cent acquired by Wyeth other than the fact that the purchase was made pursuant to the Equity Transfer Agreement that both parties entered into approximately three years ago.

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