MADISON, N.J., July 15 /PRNewswire-FirstCall/ -- Wyeth (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").
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.
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.
SOURCE Wyeth
CONTACT: Media: Douglas Petkus, +1-973-660-5218, or Investors: Justin
Victoria, +1-973-660-5340, both of Wyeth
Web site: http://www.wyeth.com/
