Date:01/03/2006 URL: http://www.thehindubusinessline.com/2006/03/01/stories/2006030100342200.htm

Back Wyeth: Betting on parent's patent

Wyeth Ltd on Tuesday moved up by 2.25 per cent at Rs 631.20 on the BSE with a 9-fold jump in traded quantity from its 2-week average at over 3.73 lakh shares. This was a result of a market expectation that the series of launches in India of patented items by Wyeth US, the foreign promoter, would only be through Wyeth Ltd and not through any unlisted subsidiary.

Late last night, Wyeth Ltd reversed its earlier decision to relinquish Indian marketing rights for Prevenar, the first and only indicated vaccine to help prevent invasive pneumococcal diseases (meningitis, pneumonia and ear infection) in infants and young children up to two years of age, in favour of Wyeth Pharmaceuticals India Ltd, a new unlisted wholly-owned subsidiary of the US parent.

The consideration for the Indian rights for the blockbuster, having global turnover of $1 billion, had been placed at Rs 22.60 crore. The 3-dose vaccine, to be launched soon, is likely to cost a total of Rs 16,000. Over 30 million children have already been vaccinated by Prevenar in 15 countries including the US, Canada, Australia, Switzerland, Argentina, Peru and Mexico.

Jayanta Mallick