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news.Wyeth has purchased the final 20% stake of Wyeth KK, from Takeda Pharmaceuticals Company, providing it with complete ownership of the company.
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Wyeth entered into an equity transfer agreement with Takeda in May 2003. Financial details of the equity transfer were not disclosed.
“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 CEO Robert Essner.
Wyeth said that Enbrel and Mylotarg, biological products launched in Japan in 2005, are helping to drive WKK's growth.
Wyeth KK aims to become a leading company in the pharmaceutical industry in Japan and is involved in developing, importing, manufacturing and marketing pharmaceutical products.