Philadelphia Hormone Therapy Verdict Overturned in Favor of Wyeth
MADISON, N.J., May 31, 2007 /PRNewswire-FirstCall/ -- Wyeth announced today that in the case of Jennie Nelson v. Wyeth, the Philadelphia Court of Common Pleas has granted Wyeth's motion for post-trial relief, and entered a judgment notwithstanding the verdict in favor of Wyeth.
The trial began on January 11, 2007 before The Honorable Ricardo Jackson, and the jury reached a verdict on February 20 in favor of the plaintiff. With today's ruling, that verdict and the damages awarded by the jury are overturned.
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 nonprescription 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 based on current expectations of future events and 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 risks associated with the inherent uncertainty of the timing and success of product research, development and commercialization (including with respect to our pipeline products), drug pricing and payment for our products by government and third-party payors, manufacturing, data generated on the safety and efficacy of our products, economic conditions including interest and currency exchange rate fluctuations, changes in generally accepted accounting principles, the impact of competitive or generic products, trade buying patterns, global business operations, product liability and other types of litigation, the impact of legislation and regulatory compliance, intellectual property rights, strategic relationships with third parties, environmental liabilities, 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." We assume no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.
CONTACT: Media, Christopher Garland, +1-973-660-5181, or Douglas Petkus,+1-973-660-5218, or Investors, Justin Victoria, +1-973-660-5340, all ofWyeth
Web site: http://www.wyeth.com/
Ticker Symbol: (NYSE:WYE)
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Posted: May 2007