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WARNER-LAMBERT SAYS 1992 EPS WILL INCREASE BY ABOUT 15 PERCENT

 WARNER-LAMBERT SAYS 1992 EPS WILL INCREASE BY ABOUT 15 PERCENT
 NEW YORK, April 21 /PRNewswire/ -- Warner-Lambert Company (NYSE: WLA) today expressed confidence that its 1992 earnings per share would increase by about 15 percent, excluding 1991 non-recurring charges and an accounting change.
 Earlier in the day, the company reported record earnings per share, net income and sales for the first quarter.
 Melvin R. Goodes, chairman and chief executive officer, told security analysts here that "even at this distance, based on our planning assumptions, we anticipate a double-digit increase in 1993 earnings per share, despite the Lopid patent expiration."
 Goodes reported that the restructuring steps taken in 1991 had significantly advanced corporate strategy by accelerating growth potential outside the U.S., increasing efficiency through plant rationalizations and reducing administrative overhead.
 He pointed out that initial estimates suggested that these and related steps would provide pre-tax savings of $1 billion over the next seven years. "At this point, we believe those estimates can be exceeded, providing a direct benefit to the bottom line," Goodes said.
 Calling it a "strategic imperative," Goodes set a long-term goal of sales gains of 10 percent or better. He also focused on the need to continue improving gross margins to assure the company's ability to make business-building research, marketing and capital investments.
 Declaring that management was not satisfied with a "status quo scenario," he outlined a three-step strategy to assure long-term double- digit sales and earnings growth. They include intensified global marketing of the present product line, introduction of a line of promising new pharmaceutical and consumer products and aggressive pursuit of alliances and partnerships that could expand the business. Goodes noted that successful implementation of this strategy would increase shareholder value.
 In the course of his operational review, Lodewijk J.R. de Vink, president and chief operating officer, said, "We have no intention of abandoning our Lopid franchise." He detailed a comprehensive plan to protect the product's $500 million in worldwide sales after its patent expires in January, 1993. "The product may be going off patent, but not off our promotion schedule," he said.
 Included in the tactical package were intensified communications built around new medical evidence of the drug's effectiveness, highly directed physician and patient programs and the planned use of the company's Warner Chilcott generic drug unit to market the drug.
 De Vink said that Warner-Lambert believes Lopid SR may be approved this year, although he indicated that there would probably not be approval for a coronary heart disease risk reduction claim.
 De Vink focused on the opportunities to expand the company's product line in markets outside the U.S., which presently provide about half of Warner-Lambert's $5 billion annual revenue.
 He pointed to the recent experience with a new cardiovascular drug, Accupril, which has now been launched in 40 countries over the past two years, including the United States. Predicting that Accupril will be the most successful drug ever sold in international markets by Warner- Lambert, he said sales should reach $250 million within a few years.
 In consumer products, he used such examples as Halls cough tablets and Clorets gum and mints to emphasize global opportunity. Halls has grown from a $3 million product in England to a $360 million global brand. Clorets, once considered solely a North American product, has grown to $140 million, aided by expansion into the UK, Japan and France, a 90 percent increase in the last three years.
 In terms of new products, de Vink said that as many as six new pharmaceutical products, including those obtained through strategic alliances, could be introduced over the next 18 months, providing worldwide incremental sales gains and helping to offset any erosion faced by Lopid. In addition to a combination product with Accupril and a diuretic, the new products include Nicotrol nicotine patch, co-promotion rights to Manoplax for congestive heart failure, Estrostep oral contraceptive, Neurontin anti-convulsant and Lopid SR, a sustained release version of the cholesterol-regulator Lopid.
 He limited his remarks concerning Cognex, the company's experimental drug for Alzheimer's disease, reporting that "We continue to work with FDA; our scientific activity is pressing forward. The day we're convinced that Cognex is not an approvable drug, that's the day we'll stop our investment." At this point, a higher dose clinical study among 550 patients and a Treatment IND program, ultimately involving as many as 15,000 patients, are under way with Cognex.
 New products on the consumer side are being led by Cool Mint Listerine, which combines the product's traditional germ-killing capability with a refreshing mint taste. The new product will also carry the prestigious ADA seal for helping to fight dental plaque and gingivitis.
 In the chewing gum market, the company has introduced Cinn-A-Burst, containing flavor crystals which burst in sequence and provide longer- lasting
taste. De Vink predicted that the technology would help create a $100 million core brand around the world.
 In the realm of alliances, de Vink noted arrangements with Cygnus (nicotine and estrogen patches), Boots (Manoplax) and Rhone-Poulenc Rorer among a number of agreements into which the company had entered in the past nine months. He reaffirmed the company's intention to pursue acquisitions that are aligned with its core businesses. He said the company was prepared to take some short-term dilution in EPS for the right opportunity.
 Regarding Novon, the company's family of specialty polymers based on potato and corn starch, de Vink said the project was on schedule and remained promising. "Our investment continues, but from a P&L perspective, our largest loss will be in 1992. We expect sales of tens of millions of dollars next year. We anticipate breaking even by the end of 1994."
 In his concluding comments, Goodes said, "Recognizing our structural strengths, and the prospects of our new product flow, we have great confidence in our future."
 -0- 4/21/92
 /CONTACT: Peter Wolf, 201-540-6696 (media relations); or Stephen Mock, 201-540-6916, or Cary Rosansky, 201-540-4874 (investor relations), both of Warner-Lambert/
 (WLA) CO: Warner-Lambert Company ST: New Jersey IN: MTC SU: ERP


KD -- NY105 -- 0890 04/21/92 16:51 EDT
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Date:Apr 21, 1992
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