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Wyeth adopted its name in 2002 as if to draw the line under a series of
almost-mergers in the late 1990s. Previously, the former American Home Products had announced a merger with another partner
on three separate occasions over a two year period, only to see the deal collapse, either because of cultural differences or
because the partner-to-be was whisked away from under AHP's nose by a more aggressive suitor, Pfizer.
As a result, Wyeth took the decision to stay free and single, refocusing its portfolio to concentrate on pharmaceuticals,
OTC products such as Advil and vitamin supplement Centrum, and a substantial animal health division. Eventually, however,
that aggressive suitor came knocking on Wyeth's door. In January 2009, Pfizer announced plans to acquire Wyeth for around
$68bn in cash, stock and debt. The deal completed in October of that year. Wyeth's operating units are gradually being
absorbed into their counterparts at Pfizer. Advertising Age estimated global measured advertising expenditure
of $610m in 2007, making Wyeth the world's #58 advertiser.
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Competitors: see Pharmaceutical Sector index for other companies
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