Wyeth (NYSE: WYE) has completed the purchase of the final 20 percent stake of Wyeth K.K. (WKK), from Takeda Pharmaceuticals Company Limited (TYO: 4502) – making Wyeth the 100% owner of WKK.
Wyeth K.K. is engaged in a full range of pharmaceutical business activities that aims to become a leading company in the Japanese pharmaceutical industry.
According to Wyeth Chairman and Chief Executive Officer Robert Essner:
"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.”
The Equity Transfer Agreement with Takeda was entered into by Wyeth in May 2003, whose financial details are fully confidential.
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