Pfizer
This article was originally published in The Tan Sheet
Executive Summary
Consumer businesses' sales growth "slower than anticipated," firm tells analysts July 17. Consumer Health Care sales in Q2 increased 1.7% to $608 mil., with strong performances by Benadryl, Sudafed, Actifed lines. Integration-related synergies from Warner-Lambert acquisition "continue to be larger and to come sooner than originally planned," firm says. Full-year 2001 merger-related savings now expected to reach about $1.3 bil., compared to prior estimate of $1.2 bil. In 2002, firm anticipates at least $1.6 bil. in merger-related savings stemming largely from elimination of redundant workforce positions, increased purchasing power and reduced operating expenses. Overall second quarter sales up 10% to $7.69 bil., driven by strong Rx sales