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This article is about the corporation. For other uses of the word, see Wyeth (disambiguation). Wyeth Type Public (NYSE: WYE) Founded Philadelphia, Pennsylvania (1860) Headquarters Madison, New Jersey, United States Key people Bernard J. Poussot, CEO, President and Vice Chairman of Wyeth Robert Essner, Chairman Joseph Mahady, John Wyeth, Founder Industry Pharmaceuticals, Healthcare Products Premarin, Effexor, Enbrel, (See more products.) Market cap US$ 41 billion (Oct. 2008) Revenue ? US$ 22.40 billion (2008) Net income ? US$ 4.616 billion (2008) Employees 49,732 (2005) Website Wyeth.com Wyeth, formerly known as American Home Products (AHP), is one of the largest pharmaceutical companies in the world. The company is based in Madison, New Jersey. They are known for manufacturing the over-the-counter (OTC) drugs Robitussin and the analgesic Advil (ibuprofen), as well as the prescription drugs Premarin and Effexor, which both boast over $3 billion in sales annually. On January 23 2009; According to The Wall Street Journal, Pfizer were in talks to buy Wyeth at a cost around $68 Billion USD. On January 25, 2009, Pfizer agreed to the purchase for US$68 billion, a deal financed with cash, shares and loans.[1] Contents [hide] 1 History 1.1 1860–1899 1.2 1900–1929 1.3 1930–1949 1.4 1950–1969 1.5 1970–1989 1.6 1990–1999 1.7 2000–2009 2 Divisions 2.1 Wyeth Consumer Healthcare 2.2 Wyeth Pharmaceuticals 2.3 Fort Dodge Animal Health 3 Products 3.1 Wyeth Consumer Healthcare Products 3.2 Wyeth Pharmaceuticals Products History 1860–1899 In 1860, pharmacists John and Frank Wyeth opened a drugstore with a small research lab on Walnut Street in Philadelphia. In 1862, on the suggestion of doctors, they began to manufacture large quantities of commonly ordered medicines. They were successful, and in 1864 they began supplying medicines and beef extract to the Union army during the Civil War. In 1872, Henry Bower, an employee of Wyeth, developed one of the first rotary compressed tablet machines in the United States. This enabled the mass production of medicines with unprecedented precision and speed. It was massively successful, and the Wyeth brothers won multiple awards at the Centennial Exhibition. In 1883, Wyeth opened its first international facility in Montreal, Canada and began vaccine production. Six years later, a fire destroyed the brothers' original Walnut Street store; the brothers sold the retail business and began focusing on mass-production. 1900–1929 John Wyeth died in 1907 and his only son, Stuart, became the company's president. American Home Products, the holding company now known as Wyeth, was incorporated on February 4th, 1926. The Whitehall building in downtown Manhattan became the corporation's first headquarters. Global sales became stronger due to the sales of Wyeth's Kolynos | ||||
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