Navigation Links
Wyeth Announces Results of the Company's Offer Relating to Holder Right to Surrender Convertible Debentures

MADISON, N.J., July 15 /PRNewswire-FirstCall/ -- Wyeth (NYSE: WYE) (the "Company") announced today that the Company's offer to purchase Wyeth Floating Rate Convertible Senior Debentures due 2024 (the "Convertible Debentures") pursuant to the right of holders to surrender their Convertible Debentures for purchase by Wyeth pursuant to their terms (the "Put Option") effective on July 15, 2009 (the "Purchase Date"), expired at 5:00 p.m., New York City time, on Tuesday, July 14, 2009 (the "Exercise Date").

On the Purchase Date, the Company accepted for purchase all outstanding Convertible Debentures that were validly tendered and not validly withdrawn as of the Exercise Date. Based on final information provided to the Company by The Bank of New York Mellon, the Trustee and Paying Agent for the Put Option, $765,139,000 in aggregate principal amount of Convertible Debentures, representing approximately 97.1 percent of the aggregate principal amount of the outstanding Convertible Debentures prior to the completion of the Put Option, were validly tendered and accepted for purchase in the Put Option, at a cash purchase price of $1,000 per $1,000 principal amount at maturity of Convertible Debentures. The aggregate purchase price for the accepted Convertible Debentures of $765,139,000, which was deposited with The Depository Trust Company ("DTC") on July 15, 2009, will be delivered promptly to tendering holders by DTC. Because the Purchase Date coincided with the July 15, 2009 regular interest payment date, there was no accrued but unpaid interest payable on the Convertible Debentures on the Purchase Date, although regular interest payments were paid on the same date to all holders of record as of July 1, 2009, the regular interest payment record date.

Pursuant to the terms of the Put Option, Convertible Debentures that were not tendered will remain outstanding, and the terms and conditions of the Convertible Debentures, including the covenants and other protective provisions contained in the indenture governing the Convertible Debentures, will remain unchanged.

About Wyeth

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, nutritionals 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 that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, among others, risks related to our proposed merger with Pfizer, including satisfaction of the conditions of the proposed merger on the proposed timeframe or at all, contractual restrictions on the conduct of our business included in the merger agreement, and the potential for loss of key personnel, disruption in key business activities or any impact on our relationships with third parties as a result of the announcement of the proposed merger; the inherent uncertainty of the timing and success of, and expense associated with, research, development, regulatory approval and commercialization of our products and 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; emerging data on our products and pipeline 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; the outcome of government investigations; 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; global economic conditions; interest and currency exchange rate fluctuations and volatility in the credit and financial markets; 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" in our Annual Report on Form 10-K for the year ended December 31, 2008, which was filed with the Securities and Exchange Commission (SEC) on February 27, 2009. 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.

Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Wyeth Consumer Healthcare Announces the Availability of New Centrum Ultra Line of Multivitamins Specially Formulated For Women and Men
2. Wyeths Prevenar 13* Receives First Approval
3. Wyeth Pharmaceuticals and Catalyst Biosciences Announce Agreement to Develop and Commercialize Factor VIIa Products
4. Wyeth Files Definitive Proxy Statement and Announces Date for Annual Meeting of Stockholders
5. New Therapies, Including Novel Biologic Agents from Elan/Wyeth and Eli Lilly, Will Drive Robust 11 Percent Annual Growth In the Alzheimers Disease Market
6. Metastorm Customer, Wyeth Pharmaceuticals, Wins CIO 100 Award for BPM Project
7. DIA 45th Annual Meeting Features Sessions Highlighting Wyeth v. Levine and Pandemic Influenza
8. Wyeth Donates $100,000 to ASCO Cancer Foundation(R) to Support Cancer Prevention and Care
9. U.S. and 16 States Join Suits Against Pharmaceutical Giant, Wyeth
10. Wyeth Reports Earnings Results for the 2009 First Quarter
11. Gene Network Sciences Names Former Wyeth President of R&D Robert Ruffolo to SAB
Post Your Comments:
(Date:6/27/2016)... ... June 27, 2016 , ... ... patient payment industry today announced its strategic partnership with Connance, a healthcare ... , The two companies’ proven, proprietary technology combine to provide health systems, ...
(Date:6/26/2016)... ... June 26, 2016 , ... Pixel Film Studios Released ProSlice Levels, a ... can give their videos a whole new perspective by using the title layers ... Film Studios. , ProSlice Levels contains over 30 Different presets to choose from. ...
(Date:6/25/2016)... TX (PRWEB) , ... June 25, 2016 , ... Austin ... of the American College of Mohs Surgery and to Dr. Russell Peckham for medical ... and highly effective treatment for skin cancer. The selective fellowship in Mohs Micrographic Surgery ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. ... from injury. Recently, he has implemented orthobiologic procedures as a method for treating ... one of the first doctors to perform the treatment. Orthobiologics are substances that ...
(Date:6/24/2016)... , ... June 24, 2016 , ... June 19, 2016 ... dangers associated with chronic pain and the benefits of holistic treatments, Serenity Recovery ... are suffering with Sickle Cell Disease. , Sickle Cell Disease (SCD) is a disorder ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... Mass. , June 24, 2016   Pulmatrix, ... pharmaceutical company developing innovative inhaled drugs, announced today that ... Russell Investments reconstituted its comprehensive set of ... "This is an important milestone for Pulmatrix," ... will increase shareholder awareness of our progress in developing ...
(Date:6/23/2016)... HILLS, Calif. , June 23, 2016 Any ... the many challenges of the current process. Many of them ... because of the technical difficulties and high laboratory costs involved. ... have to offer it at such a high cost that ... afford it. Dr. Parsa Zadeh , founder ...
(Date:6/23/2016)... , June 23, 2016 ... CAPR ), a biotechnology company focused on ... today announced that patient enrollment in its ongoing ... Duchenne) has exceeded 50% of its 24-patient target. ... in the third quarter of 2016, and to ...
Breaking Medicine Technology: