Wyeth Pharmaceuticals

Paper Summary:

The paper evaluates the crises encountered by Wyeth Pharmaceuticals and how the company responded. The paper covers Wyeth's strategies in the development and marketing of pharmaceutical products since 2001 and then assesses Wyeth's strategies as compared to its competitors, and their chances to outperform the rest of the pharmaceutical marketplace. A copy of a Wall Street Journal Patent Scorecard article is also appended to the paper.

Outline:
Letter of Transmittal
Introduction
The Global Pharmaceutical Marketplace has been a High-Growth Marketplace
Wyeth's Fen-Phen Scare, and How it Changed the Company
Of Necessity: A Push for Niche Drugs
Conclusion

From the Paper:

"The Mayo Clinic noted in 1997 a correlation between taking Fen-Phen and a rare form of aortic heart-valve disease. Subsequent publication in the NEJM resulted in Wyeth withdrawing the drug from the market in 1998. In 2000, a US judge approved a class action lawsuit. Wyeth set aside a $14 billion fund to settle the suits, which was later raised to $21 billion in 2005 . The ultimate size of the settlements made it the most expensive recall in pharmaceutical history; the final settlement nevertheless removed a cloud over the organization."

Sample of Sources Used:

• Cremieux, P-Y, Meilleur, M-C.,Ouellette, P., Petit, SP, Zelder, M and Potvin, K. "Public and private pharmaceutical spending as determinants of health outcomes in Canada." Health Economics (2004): 107-116.
• Epsicom. Wyeth: Performance, Products, Pipeline and Potential. Investor. New York: Epsicom Healthcare Intelligence, 2007.
• FDA. "Humanitarian Use Exemption." 2007. FDA. 21 October 2007 <http://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfHDE/HDEInformation.cfm>.
• Feick, K. "Pharmaceutical Industry Faces Multiple Challenges - Future lies in Drug Pipeline Sustainability." Medical News Today 26 May 2005: n.p.
• Frankel, A. "The Fen-Phen Follies." The American Lawyer (2005): n.p.

More papers on Wyeth Pharmaceuticals:

• Descriptive Essay # 108434 : "Wyeth Pharmaceuticals Company"
• Case Study # 150359 : "A Financial Report on Wyeth Pharmaceutical"
• Term Paper # 140979 : "Mattel and Wyeth"

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