Wyeth to get Rs 22.6cr for giving up Prevenar mktg

Wyeth, based on a valuation by KPMG, would be getting Rs 22.60 crore from New Jersey-based Wyeth for relinquishing its right  to market Prevenar in India.

According to a release issued by Wyeth to the BSE today, the US-based firm has incorporated a wholly-owned subsidiary in India. "Prevenar, a pneumococcal 7 valent conjugate vaccine and an original research product of Wyeth, is to be marketed through the wholly-owned subsidiary. The company had agreed to relinquish rights to market Prevenar in consideration of fair compensation determined on the basis of a valuation by KPMG," the release added.