Warner-Lambert Set On Mid-Teens EPS Growth

Annual profit growth in the mid-teens is expected by Warner-Lambert forthe rest of the century. Melvin Goodes, chairman and chief executive of the company, speaking to investors, said: "we plan to double our profits as we enter the next millennium."

He said that the cholesterol-lowering agent Lipitor (atorvastatin) and type II diabetes treatment Rezulin (troglitazone) should spark a "period of accelerated and sustainable growth." He added: "we believe that both Lipitor and Rezulin have the potential to be billion-dollar blockbusters." W-L is investing heavily in these products in the first half of 1997 to ensure their success.

The firm's Parke-Davis division and Pfizer are collaborating on clinical, marketing and sales support for Lipitor in the USA, and broadly in key international markets. Mr Goodes said: "the Parke-Davis/Pfizer alliance combines Pfizer's and P-D's highly regarded sales teams. In the USA and other major markets, the partnership is providing strategic synergy as well as tremendous energy and sales support."