April 7, 2005

Wyeth K.K.
Takeda Pharmaceutical Company Limited

Partial Transfer of Wyeth K.K. Equity from Takeda to Wyeth

Madison N.J., U.S.A. and Osaka, Japan −−− Wyeth (Headquarters: Madison, N.J., U.S.A.; President, Chief Executive Officer and Chairman: Robert Essner, "Wyeth") and Takeda Pharmaceutical Company Limited (Headquarters:, Osaka; President:Yasuchika Hasegawa, "Takeda") agreed that Takeda, which holds a 40 percent share, would transfer a 10 percent share of Wyeth K.K. (Headquarters:, Tokyo; President: Rune Bremberg) to Wyeth with the transfer to be completed today.

The transfer has been made pursuant to an Equity Transfer Agreement entered into by Wyeth and Takeda in May 2003.This transfer gives Wyeth 70% ownership of Wyeth K.K. and full management control over the joint venture.

Though financial details of the equity transfer were not disclosed, the value of the equity was calculated using a formula to achieve fair market value. Takeda's remaining 30 percent equity in Wyeth K.K. will be acquired by Wyeth in increments over the next few years. Takeda will retain pro-rated seats on the Wyeth K.K. Board of Directors and will also continue to be the exclusive distributor of Wyeth K.K. products in Japan.

Mr. Robert Essner, President, Chief Executive Officer and Chairman, Wyeth, said:"The partnership between Wyeth and Takeda has been a very productive and cooperative business endeavor in Japan. The time is right for Wyeth to take control of Wyeth K.K.'s operations to establish a Wyeth platform for growth in Japan, the second largest pharmaceutical market."

About Wyeth
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.

About Wyeth K.K.
Wyeth K.K. is engaged in a full range of pharmaceutical business activities including developing, importing, manufacturing and marketing pharmaceutical products with the aim of becoming a leading company in the pharmaceutical industry in Japan. Our corporate vision is Leading the way to a healthier world. We strive to achieve this vision by bringing to the world pharmaceutical and health-care products that improve peoples' lives and deliver outstanding value to our customers. WKK has more than 1,200 employees. The history of Wyeth K.K. began in 1953 with Lederle (Japan), Ltd., a 50-50 joint venture between the American Cyanamid Company and the then Takeda Chemical Industries, Ltd. In 1994, American Home Products Corporation, now known as Wyeth, acquired American Cyanamid making it a joint venture between Wyeth and Takeda. In 1998 Wyeth took a 60% position in the joint venture and the pharmaceutical business of Wyeth (Japan) Corporation was combined with Lederle (Japan), Ltd., which then changed its name to Wyeth Lederle Japan, Ltd. In December 2003, its name was changed to Wyeth K.K. See details, at

About Takeda
Takeda, in its management plan, sets a course by which the company will become an " R&D-driven world-class pharmaceutical company" . Takeda will exert its best efforts to enhance its R&D pipeline in selected core therapeutic classes such as "lifestyle-related diseases", "cancer and urological diseases and gynecological disorders", "central nervous system disorders, and bone and joint diseases", and "life-cycle management of drugs for digestive system disorders". Takeda is reinforcing its in-house R&D, promoting life cycle management, and actively introducing new products and form alliances in order to realize its management mission of ‘striving toward better health for individuals and progress in medicine by developing superior pharmaceutical products'. See details at http://www.takeda.co.jp/.

# # #