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PFIZER REPORTS NET INCOME GROWTH OF 10 PERCENT ON A 4 PERCENT SALES GAIN FOR FIRST QUARTER

 PFIZER REPORTS NET INCOME GROWTH OF 10 PERCENT
 ON A 4 PERCENT SALES GAIN FOR FIRST QUARTER
 NEW YORK, April 14 /PRNewswire/ -- Pfizer Inc (NYSE: PFE) today reported a 10 percent increase in net income and a 4 percent gain in sales for the first quarter of 1992. First quarter results reflect the effect of significant divestments and business closures made by Pfizer over the past two years.
 Excluding recently divested and closed businesses, consolidated sales from ongoing operations increased 10 percent. Within the health care segment, pharmaceutical sales increased by 13 percent. Sales increases in the following segments, excluding divestments and business closures, were: hospital products, up 7 percent; consumer products, up 4 percent; and specialty chemicals and minerals, up 4 percent. The animal health segment increased 1 percent.
 Worldwide sales for the quarter were $1,761.3 million compared with $1,695.7 million in 1991. Net income for the quarter was $295.1 million compared with $267.4 million for the previous year.
 Earnings per share for the quarter were $0.87, up 10 percent from $0.79 for the same period in 1991.
 William C. Steere, Jr., chairman and chief executive officer, said, "Several positive events occurred in the first quarter, but the most significant were the launches of Zoloft and Zithromax in the United States. Zoloft, introduced in February, is our new once-daily antidepressant with greatly improved toleration over older medications. And last month, we had the U.S. launch of our remarkable new antibiotic Zithromax. Most antibiotics stay in the bloodstream, but we have adopted a way of using the body's own immune system to deliver Zithromax directly to the infected site. Five once-a-day doses of Zithromax are as effective in treating a variety of skin and respiratory tract infections as eight to ten days of four-a-day doses of the antibiotics it will be replacing. In fact, a single administration of Zithromax is effective against chlamydia, the most common sexually transmitted disease."
 Steere continued, "The rollout of Zoloft and Zithromax combined with the strong performance of our other new pharmaceuticals such as Procardia SL, Diflucan, Norvasc and Cardura, provided our solid first- quarter results. We believe that these and other promising new products being developed will spur a period of strong growth for Pfizer."
 Pfizer Inc is a diversified, research-based health care company with businesses in pharmaceuticals, hospital products, consumer products, animal health, and specialty chemicals and minerals. The company reported sales of approximately $6.95 billion for 1991.
 PFIZER INC. AND SUBSIDIARY COMPANIES
 Condensed Consolidated Statement of Income 1992/1991
 (millions of dollars except per share data)
 (unaudited)
 First quarter 1992 1991 Pct. growth
 Net sales $1,761.3 $1,695.7 4
 Operating costs and expenses
 Cost of goods sold 486.0 525.2 (7)
 Marketing, distribution and admin-
 istrative expenses 678.7 625.2 9
 Research and development expenses 187.8 172.6 9
 Income from operations 408.8 372.7 10
 Interest income 45.3 49.7 (9)
 Interest expense (29.3) (31.1) (6)
 Other income 6.0 8.4 (29)
 Other deductions (31.7) (31.9) (1)
 Non-operating income (deductions) - net (9.7) (4.9) 98
 Inc. bef. prov. for taxes on inc.
 and minority interests 399.1 367.8 9
 Provision for taxes on income 103.8 99.3 5
 Income before minority interests 295.3 268.5 10
 Minority interests .2 1.1 (82)
 Net income 295.1 267.4 10
 Earnings per common share $.87 $.79 10
 1) For the periods ended March 29, 1992, and March 31, 1991. Subsidiaries operating outside the United States generally are included on the basis of interim periods ended Feb. 23, 1992, and Feb. 24, 1991.
 2) On a reported basis, sales gain/declines were as follows:
 Health Care +6 pct
 Pharmaceuticals +13 pct
 Hospital products -18 pct
 Animal Health +1 pct
 Specialty Chemicals and Minerals -2 pct
 3) The results of operations for the interim period ended March 29, 1992, are not necessarily indicative of the results which ultimately might be achieved for the current year.
 -0- 4/14/92
 /CONTACT: A.A. Biesada, 212-573-2055, or Rick Honey, 212-573-2051, both of Pfizer/
 (PFE) CO: Pfizer Inc. ST: New York IN: CHM SU: ERN


KD -- NY082 -- 8398 04/14/92 17:44 EDT
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