Wyeth Announces the Sale of its Georgia, Vermont
Manufacturing Facility to Affiliate of PBM Products
Madison, N.J., November 4, 2004 - Wyeth (NYSE:WYE) has announced that a definitive agreement has been signed with an affiliate of PBM Products Inc. for the sale of its Georgia, Vermont, infant nutrition manufacturing facility.
Under the terms of the purchase agreement, which is subject to customary conditions to closing, including certain regulatory approvals, Wyeth will receive an undisclosed amount in cash at closing in exchange for the manufacturing facility.
The buyer is expected to retain employees currently working at the site.
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.
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