Printer Friendly

WARNER-LAMBERT BEGINS SHIPPING COGNEX

 MORRIS PLAINS, N.J., Sept. 28 /PRNewswire/ -- Warner-Lambert Company said today that it has begun shipping supplies of Cognex to the trade. Cognex, the first effective treatment for mild-to-moderate Alzheimer's disease, was cleared for marketing earlier this month by the Food and Drug Administration.
 At the same time, Melvin R. Goodes, chairman and chief executive officer, said that as a result of issues connected with the consent decree, earnings per share in the third quarter are expected to be down from $1.22 in the comparable 1992 period. For the full year, earnings per share are currently expected to approximate last year's.
 Goodes noted that "Pharmaceutical sales in Europe and the United States have been adversely affected by health reform measures and by the company's manufacturing problems, primarily in Puerto Rico. In light of those changes and the potential implications of the Administration's tax program and health care plan, prudence demands that we begin reexamining our cost structures to bring them in line with the realities of a rapidly changing marketplace."
 Looking to the future, Goodes said, "Despite the uncertainties of health care and tax reform -- including revisions to the Puerto Rico tax credit, we continue to be extremely confident about our prospects. While the present environment prevents us from making any specific projections for 1994, we believe developments such as the Cognex approval and the expected near-term clearance of Neurontin, along with the recent establishment of OTC alliances with Wellcome and Glaxo and the continued vibrancy of our worldwide consumer businesses, are clearly positive events that will drive our growth in the decade of the '90s."
 Warner-Lambert is a worldwide company devoted to discovering, developing, manufacturing and marketing quality health care and consumer products. It employs approximately 35,000 people.
 -0- 9/28/93
 /CONTACT: Peter Wolf, 201-540-6696, Lisa Wilder, 201-540-2145, or Sandy Horner, 201-540-4268; or (investors) Stephen Mock, 201-540-6916, or Cary Rosansky, 201-540-4874, all of Warner-Lambert Company/
 (WLA)


CO: Warner-Lambert Company ST: New Jersey IN: HEA SU:

MP -- NY033 -- 6271 09/28/93 10:00 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 28, 1993
Words:338
Previous Article:ALEXION PHARMACEUTICALS LICENSES PORCINE EMBRYONIC STEM CELLS FOR TRANSGENIC ANIMALS
Next Article:DUFF & PHELPS RESPONDS TO SOUTHERN CALIFORNIA GAS COMPANY'S COMPREHENSIVE SETTLEMENT PROPOSAL
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters