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NEWS OF THE WEEK
BULLISH
December 24, 2001
Volume 79, Number 52
CENEAR 79 52 p. 6
ISSN 0009-2347
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Pfizer Predicts Earnings Growth

WILLIAM STORCK

Pfizer will achieve earnings-per-share growth of 27% in 2001, excluding merger-related costs and some other one-time items, Chairman and CEO Hank McKinnell told a meeting of security analysts last week.

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McKinnell
Furthermore, McKinnell said, "over the next three years, we project industry-leading earnings growth. We are confident of our ability to support a strong and expanding product portfolio." The company is projecting 20% growth in 2002 and has targeted 15% or better earnings-per-share growth in 2003 and 2004. Pfizer's revenues for 2001 are projected to reach $26 billion.

In contrast, Merck recently told analysts that earnings per share in 2002 would be unchanged from 2001, and Bristol-Myers Squibb forecast a decline in 2002 earnings per share.

At the meeting, Pfizer executives noted that the company has 162 R&D programs, including 94 new molecular entities. Pfizer plans to file 15 new-drug applications with regulatory authorities by the end of 2006.

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