Exhibit 99.1

                  Wyeth Provides Update on Diet Drug Litigation

The Company regularly updates information on the status of its diet drug
litigation in connection with its quarterly filings with the Securities and
Exchange Commission. If the Company's Form 10-Q were being filed today, the
following information would be included:

The Company is involved in various legal proceedings, including product
liability and environmental matters of a nature considered normal to its
business. It is the Company's policy to accrue for amounts related to these
legal matters if it is probable that a liability has been incurred and an amount
is reasonably estimable.

The nationwide class action settlement to resolve litigation brought
against the Company regarding use of the diet drugs PONDIMIN (which in
combination with phentermine, a product that was not manufactured, distributed
or sold by the Company, was commonly referred to as "fen-phen") or REDUX
received final judicial approval effective January 3, 2002.

As previously reported, the number of individuals who have filed claims
within the settlement that allege significant heart valve disease (known as
"matrix" claims) has been higher than had been anticipated. The settlement
agreement grants the Company access to claims data maintained by the settlement
trust. Based on its review of that data, the Company understands that, as of
September 24, 2003, the settlement trust had recorded approximately 108,000
matrix-level claim forms. Approximately 24,300 of these forms are so deficient,
incomplete or duplicative of other forms filed by the same claimant that they
are, in the Company's view, unlikely to result in a significant number of matrix
claims to be processed further.

The Company's current understanding of the status of the remaining
approximately 83,700 forms, based on its analysis of data received from the
settlement trust through September 24, 2003, is as follows. Approximately 10,300
of the matrix claims have been processed to completion, with those claims either
paid (approx. 2,750 claims, with payments of $1.039 billion), denied (approx.
7,000) or withdrawn. Approximately 1,500 claims have begun the 100% audit
process ordered in late 2002 by the federal court overseeing the national
settlement. Approximately 25,550 claims allege conditions that, if true, would
entitle the claimant to receive a matrix award; these claims have not yet
entered the audit process. Another approximately 16,650 claims with similar
allegations have been purportedly substantiated by physicians whose claims are
now subject to the outcome of the trust's Integrity Program, discussed below.
Approximately 29,400 claim forms do not currently contain sufficient information
even to assert a matrix claim, although some of those claim forms could be made
complete by the submission of additional information and could therefore become
eligible to proceed to audit in the future. The remaining approximately 300
claims are currently in the data entry process and cannot be assessed at this
time.

In addition to the approximately 108,000 matrix claims filed as of
September 24, 2003, additional matrix claims may be filed through 2015 by class
members who develop a matrix condition in the future if they have registered
with the settlement trust by May 3, 2003, and have demonstrated FDA+
regurgitation or mild mitral regurgitation on an echocardiogram conducted after
diet drug use and obtained either outside of the settlement trust by January 3,
2003 or within the settlement trust's screening program.

The Company's current understanding, based on data received from the
settlement trust through September 24, 2003, is that audits have been completed
on 820 of the approximately 1,500 claims that have begun the 100% audit process.
Of these, 285 were found to be payable at the amount claimed and 16 were found
to be payable at a lower amount than had been claimed. The remaining claims were
found ineligible for a matrix payment, although the claimants may appeal that
determination to the federal court overseeing the settlement. Because it remains
unclear whether the claims audited to date are a representative sample of the
claims that might proceed to audit, the Company cannot predict the ultimate
outcome of the audit process.

Both the volume and types of claims seeking matrix benefits received by the
settlement trust to date differ materially from the epidemiological projections
on which the court's approval of the settlement agreement was predicated. Based
upon data received from the settlement trust, approximately 94% of the 25,550
matrix claimants who allege conditions that, if true, would entitle them to an
award (and approximately 99% of the approximately 16,650 claims certified by
physicians currently subject to the trust's Integrity Program) seek an award
under Level II of the five-level settlement matrix. (Level II covers claims for
moderate or severe mitral or aortic valve regurgitation with complicating
factors; depending upon the claimant's age at the time of diagnosis, and
assuming no factors are present that would place the claim on one of the
settlement's reduced payment matrices, awards under Level II range from $192,111
to $643,500.)

An ongoing investigation which the Company understands is being conducted
by counsel for the settlement trust and discovery conducted to date by the
Company in connection with certain Intermediate and Back-End opt out cases
(brought by some of the same lawyers who have filed these Level II claims and
supported by some of the same cardiologists who have certified the Level II
claims) cast substantial doubt on the merits of many of these matrix claims and
their eligibility for a matrix payment from the settlement trust. Therefore, in
addition to the 100% audit process, the settlement trust has embarked upon an
Integrity Program, which is designed to protect the Trust from paying
illegitimate or fraudulent claims.

Pursuant to the Integrity Program, the settlement trust has required
additional information concerning matrix claims purportedly substantiated by
thirteen identified physicians in order to determine whether to permit those
claims to proceed to audit. Based upon data obtained from the trust, the Company
believes that approximately 16,650 matrix claims were purportedly substantiated
by the thirteen physicians currently covered by the Integrity Program. It is the
Company's understanding that additional claims substantiated by additional
physicians might be subjected to the same requirements of the Integrity Program
in the future. As an initial step in the integrity review process, each of the
identified physicians has been asked to complete a comprehensive questionnaire
regarding each claim and the method by which the physician reached the
conclusion that it was valid. The ultimate disposition of any or all claims that
are subject to the Integrity Program is at this time uncertain. Counsel for
certain claimants affected by the program recently challenged the trust's
authority to implement the Integrity Program and to require completion of the
questionnaire before determining whether to permit those claims to proceed to
audit. While that motion was denied by the court, additional challenges to the
Integrity Program are possible.

The settlement trust has also adopted a program to prioritize the handling
of those matrix claims that it believes are least likely to be illegitimate.
Under the plan, claims under Levels III, IV and V will be processed and audited
on an expedited basis. (Level III covers claims for heart valve disease
requiring surgery to repair or replace the valve, or conditions of equal
severity. Levels IV and V cover complications from, or more serious conditions
than, heart valve surgery.) The policy will also prioritize the auditing of,
inter alia, Level I claims, all claims filed by a claimant without counsel
(i.e., on a pro se basis) and Level II claims substantiated by physicians who
have attested to 20 or fewer matrix claims.

Finally, the settlement trust has filed a suit alleging violations of the
Racketeer Influenced and Corrupt Organizations (RICO) Act against a Kansas City
cardiologist who attested under oath to the validity of over 2,500 matrix
claims. The suit alleges that the cardiologist intentionally engaged in a
pattern of racketeering activity to defraud the settlement trust. The trust has
indicated that one of the goals of the Integrity Program is to recoup funds from
those entities that caused the trust to pay illegitimate claims.

The Company continues to monitor the progress of the trust's audit process
and its Integrity Program and has brought and will continue to bring to the
attention of the trust and the court overseeing the settlement any additional
irregularities that it uncovers in the matrix claim process. Even if substantial
progress is made by the trust, through its Integrity Program or other means, in
reducing the number of illegitimate matrix claims, a significant number of the
claims which proceed to audit might be interpreted as satisfying the matrix
eligibility criteria, notwithstanding the possibility that the claimants may not
in fact have serious heart valve disease. If so, matrix claims found eligible
for payment after audit may exceed the $3.75 billion cap of the settlement fund.

Should the settlement fund be exhausted, most of the matrix claimants who
filed their matrix claim on or before May 3, 2003 and who pass the audit process
at a time when there are insufficient funds to pay their claim may pursue the
opt out right created by the Sixth Amendment to the settlement agreement, unless
the Company first elects, in its sole discretion, to pay the matrix benefit
after audit. Sixth Amendment opt out claimants may then sue the Company in the
tort system, subject to the settlement's limitations on such claims. In addition
to the limitations on all Intermediate and Back-End opt outs (such as the
prohibition on seeking punitive damages and the requirement that the claimant
sue only on the valve condition that gave rise to the claim), a Sixth Amendment
opt out may not sue any defendant other than the Company and may not join his or
her claim with the claim of any other opt out. The Company cannot predict the
ultimate number of individuals who might be in a position to elect a Sixth
Amendment opt out or who may in fact elect to do so, but that number could be
substantial.

If the settlement fund were to be exhausted, some individuals who
registered to participate in the settlement by May 3, 2003, who had demonstrated
either FDA+ level regurgitation or mild mitral regurgitation on an
echocardiogram completed after diet drug use and conducted either outside of the
settlement prior to January 3, 2003 or within the settlement's screening
program, and who subsequently develop (at any time before 2015) a valvular
condition that would qualify for a matrix payment might elect to pursue a
Back-End opt out. Such individuals may pursue a Back-End opt out within 120 days
of the date on which they first discover or should have discovered their matrix
condition. The Company cannot predict the ultimate number of individuals who may
be in a position to elect a Back-End opt out or who may in fact elect to do so,
but that number could also be substantial.

The Company's current understanding is that approximately 76,000
Intermediate opt out forms were submitted by May 3, 2003, the applicable
deadline for most class members (other than qualified class members receiving
echocardiograms through the settlement trust after January 3, 2003, who may
exercise intermediate opt out rights within 120 days after the date of their
echocardiogram). The number of Back-End opt out forms received as of the 2003
Third Quarter is estimated to be approximately 20,000, although certain
additional class members may elect to exercise Back-End opt out rights in the
future (under the same procedure as described above) even if the settlement fund
is not exhausted. After eliminating forms that are duplicative of other filings,
forms that are filed on behalf of individuals who have already either received
payments from the settlement trust or settlements from the Company, and forms
that are otherwise invalid on their face, it appears that approximately 78,000
individuals have filed Intermediate or Back-End opt out forms as of the 2003
Third Quarter.

Purported Intermediate or Back-End opt outs (as well as Sixth Amendment opt
outs) who meet the settlement's medical eligibility requirements may pursue
lawsuits against the Company, but must prove all elements of their claims -
including liability, causation and damages - without relying on verdicts,
judgments or factual findings made in other lawsuits. They also may not seek or
recover punitive, exemplary or multiple damages and may sue only for the
valvular condition giving rise to their opt out right. To effectuate these
provisions of the settlement, the federal court overseeing the settlement has
issued orders limiting the evidence that may be used by plaintiffs in such
cases. Those orders, however, are being challenged on appeal and the Company
cannot predict the outcome of those appeals.

In addition to the specific matters discussed herein, the federal court
overseeing the national settlement has issued a number of rulings concerning the
processing of matrix claims and the rights of, and limitations placed on, class
members by the terms of the settlement. Several of those rulings are being
challenged on appeal. Certain class members have also filed a number of motions
attacking both the binding effect of the settlement and the administration of
the settlement trust. While most of those motions have been denied, one remains
pending and several of those that have been denied are being challenged on
appeal. The Company cannot predict the outcome of any of these appeals.

To date, approximately 25,000 individuals who have filed Intermediate or
Back-End opt out forms have filed lawsuits, most of which have been filed in the
past few months. The claims of most of these 25,000 plaintiffs are now pending
in federal courts and have been or will be transferred for pretrial proceedings
to the federal court overseeing the national settlement. The Company expects to
challenge vigorously all Intermediate and Back-End opt out claims of
questionable validity or medical eligibility and the number of such claims that
meet the settlement's opt out criteria will not be known for some time. As a
result, the Company cannot predict the ultimate number of purported Intermediate
or Back-End opt outs that will satisfy the settlement's opt out requirements,
but that number could be substantial. As to those opt outs who are found
eligible to pursue a lawsuit, the Company also intends vigorously to defend
these cases on their merits.

The Company has resolved the claims of all but a small percentage of the
"initial" opt outs (i.e., those individuals who exercised their right to opt out
of the settlement class) and continues to work toward resolving the rest. It
also continues to work toward resolving the claims of individuals who allege
that they have developed Primary Pulmonary Hypertension (PPH) as a result of
their use of the diet drugs. The Company intends vigorously to defend those
initial opt out and PPH cases that cannot be resolved prior to trial.

During the 2003 Third Quarter, the Company increased its reserves in
connection with the REDUX and PONDIMIN diet drug matters by $2.0 billion,
bringing the total of the charges taken to date to $16.6 billion. Through
September 30, 2003, payments into the national settlement funds, individual
settlement payments, legal fees and other costs totaling $13.0 billion were paid
and applied against the litigation accrual. At September 30, 2003, and including
the most recent increase, $3.6 billion of the litigation accrual remained. The
balance remaining represents management's best estimate of the minimum aggregate
amount anticipated to cover payments in connection with the settlement trust up
to its cap, initial opt outs, PPH claims, Intermediate, Back-End or Sixth
Amendment opt outs (collectively, the "downstream" opt outs), and the Company's
legal fees related to the diet drug litigation. Due to its inability to estimate
the ultimate number of valid downstream opt outs, and the merits and value of
their claims, as well as the inherent uncertainty surrounding any litigation,
the Company is unable to estimate the amount of any additional financial
exposure represented by the downstream opt out litigation. However, the amount
of financial exposure beyond that which has been recorded could be significant.

The Company intends to defend itself vigorously and believes it can marshal
significant resources and legal defenses to limit its ultimate liability in the
diet drug litigation. However, in light of the circumstances discussed above,
including the unknown number of valid matrix claims and the unknown number and
merits of valid downstream opt outs, it is not possible to predict the ultimate
liability of the Company in connection with its diet drug legal proceedings. It
is therefore not possible to predict whether, and if so when, such proceedings
will have a material adverse effect on the Company's financial condition,
results of operations and/or cash flows and whether cash flows from operating
activities and existing and prospective financing resources will be adequate to
fund the Company's operations, pay all liabilities related to the diet drug
litigation, pay dividends, maintain the ongoing programs of capital
expenditures, and repay both the principal and interest on its outstanding
obligations without the disposition of significant strategic core assets and/or
reductions in certain cash outflows.