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Wyeth

by hfxPalmer
Last updated 9 years ago

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Wyeth

WYETH (WYE)

AHP which had bought Wyeth Chemical Company, now known as Wyeth Laboratories, in 1932. This company is a pharmaceutical manufacturer. This company was managed by family members until the death of Stuart Wyeth, who was a bachelor. Following his death the laboratory and company were given to Harvard. Harvard then sold the company to AHP at a pretty low price. In 1983, AHP's prescription drugs and medical supplies made up for 47 percent of sales and 62 percent of profits. AHP started creating new pharmaceuticals. They created so many that they filed 21 new drug applications to the FDA in just 1985. AHP then invested in Genetics Institute Inc., “a biotechnology firm specializing in blood cell regulation, bone repair, and immune system modulation,” in 1992. in 1993, 60 percent of AHP's money came from their pharmaceuticals. The company underwent a series of acquisitions and divestitures aimed at transforming AHP into a major pharmaceutical company in 1994.Beginning with problems AHP, which changed its name to Wyeth in 2002, entered the 21st century as a strong pharmaceutical franchise. “With strengths in vaccines, biotechnology, and traditional pharmaceuticals, Wyeth's products spanned a wide range of treatment areas, and, on average, its pharmaceuticals had one of the longest remaining patent lives in the industry.” Some other companies they are apart of are Ives and Ayerst pharmaceuticals.The 52 high and low are 49.80:high-28.06 :low.


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