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PFIZER ANNOUNCES ESTIMATED EFFECTS OF TAX RATE DUE TO BUDGET BILL AND COMMENTS ON FACTORS AFFECTING THIRD AND FOURTH QUARTER EARNINGS

 NEW YORK, Aug. 9 /PRNewswire/ -- Pfizer Inc today announced that changes to the tax code approved Friday by Congress in the Omnibus Budget Reconciliation Act of 1993 including changes to Section 936 of the Revenue Code will increase the company's effective tax rate by approximately four percentage points in 1994. This would raise Pfizer's effective tax rate from the 26 percent expected in 1993 to 30 percent in 1994.
 The company also said today that during an August 3 meeting with the investment community it stated that earnings growth for the third quarter is expected to be well below that expected in the fourth quarter of 1993. The difference in anticipated quarterly earnings growth is largely attributable to the comparison with 1992 when there was a relatively high level of expenses in the fourth quarter compared to the third quarter.
 -0- 8/9/93
 /CONTACT: Chris Heller of Pfizer, 212-573-3604/
 (PFE)


CO: Pfizer Inc. ST: New York IN: MTC SU:

SM-LG -- NY036 -- 0688 08/09/93 10:50 EDT
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Publication:PR Newswire
Date:Aug 9, 1993
Words:169
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