MADISON, N.J., Feb. 29 /PRNewswire-FirstCall/ -- Wyeth Pharmaceuticals,
a division of Wyeth (NYSE: WYE), announced today the end of its
collaboration agreements with Solvay Pharmaceuticals for the development
and commercialization of bifeprunox as well as other compounds in earlier
stages of development for the potential treatment of schizophrenia and
other psychiatric conditions.
Wyeth terminated the collaboration with Solvay after assessing the
opportunity for bifeprunox and determining it would not have sufficient
commercial value for the two companies to share.
All development and commercialization rights in North America for
bifeprunox, an investigational atypical antipsychotic, as well as global
rights for the other compounds will now revert to Solvay Pharmaceuticals.
About Wyeth Pharmaceuticals
Wyeth Pharmaceuticals, a division of Wyeth, has leading products in the
areas of women's health care, infectious disease, gastrointestinal health,
central nervous system, inflammation, transplantation, hemophilia,
oncology, vaccines and nutritional products.
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.
The statements in this press release that are not historical facts are
forward-looking statements based on current expectations of future events
and are subject to risks and uncertainties that could cause actual results
to differ materially from those expressed or implied by such statements.
Risks and uncertainties include the inherent uncertainty of the timing and
success of, and expense associated with, research, development, regulatory
approval and commercialization of our products and our pipeline products;
government cost-containment initiatives; restrictions on third-party
payments for our products; substantial competition in our industry,
including from branded and generic products; data generated on our
products; the importance of strong performance from our principal products
and our anticipated new product introductions; the highly regulated nature
of our business; product liability, intellectual property and other
litigation risks and environmental liabilities; uncertainty regarding our
intellectual property rights and those of others; difficulties associated
with, and regulatory compliance with respect to, manufacturing of our
products; risks associated with our strategic relationships; economic
conditions including interest and currency exchange rate fluctuations;
changes in generally accepted accounting principles; trade buying patterns;
the impact of legislation and regulatory compliance; risks and
uncertainties associated with global operations and sales; and other risks
and uncertainties, including those detailed from time to time in our
periodic reports filed with the Securities and Exchange Commission,
including our current reports on Form 8-K, quarterly reports on Form 10-Q
and annual report on Form 10-K, particularly the discussion under the
caption "Item 1A, Risk Factors." The forward-looking statements in this
press release are qualified by these risk factors. We assume no obligation
to publicly update any forward-looking statements, whether as a result of
new information, future developments or otherwise.
SOURCE Wyeth Pharmaceuticals
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Related links:
http://www.wyeth.com/
CONTACT:
Doug Petkus of Wyeth, +1-973-660-5218; or
Gwen Fisher of Wyeth Pharmaceuticals, +1-484-865-5160; or
Investor Contact, Justin Victoria of Wyeth, +1-973-660-5340
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