Wyeth has announced the purchase of the final 20 per cent stake of Wyeth KK from Takeda Pharmaceuticals Company Limited bringing Wyeth's ownership interest in WKK to 100 per cent. Wyeth entered into an Equity transfer agreement with Takeda in May 2003. Financial details of the equity transfer are confidential.
"The full ownership of WKK is part of the overall transformation of our operations in Japan. The relationship between Wyeth and Takeda remains strong, and our current co-promotion of Enbrel with Takeda is central to making Japan one of the strongest markets for this important biotech product for the treatment of rheumatoid arthritis," says Wyeth chairman and chief executive officer Robert Essner.
Enbrel and Mylotarg, biological products launched in Japan in 2005, are helping to drive WKK's growth.
Wyeth is one of the world's largest research-driven pharmaceutical and health care products companies. It is a leader in the discovery, development, manufacturing and marketing of pharmaceuticals, vaccines, biotechnology products and non-prescription medicines that improve the quality of life for people worldwide. The company's major divisions include Wyeth Pharmaceuticals, Wyeth Consumer Healthcare and Fort Dodge Animal Health.