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Biotech / Medical : wla(warner lambert) -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Wong who wrote (762)	5/19/1999 3:11:00 PM
From: Sonki	Read Replies (1) \| Respond to of 942

3 news items on Warner Lambert (WLA) WARNER LAMBERT closed its $2.1 bln acquisition of AGOURON PHARMACEUTICALS after Agouron shareholders approved the merger. In a press release Monday, the companies said the transaction will be non-dilutive to Warner-Lambert's future earnings, accounted for as a pooling-of-interests and will qualify as a tax-free exchange. Each Agouron share will be exchanged for 0.8934 Warner-Lambert shares, a ratio based on the average closing price of Warner-Lambert common shares from April 30 to May 13. (Dow Jones) Warner Lambert (WLA) WARNER LAMBERT said it expects to spend $1.17 bln in 1999 on pharmaceutical research and development, which it said reflected a 51% increase from the amount spent in 1998. The company made the projection at a research and development meeting for analysts given here. Dr. Peter Corr, pharmaceutical research director of Warner-Lambert, said the increase in spending follows the company's acquisition Monday of Agouron Pharmaceuticals Inc an acquisition which will bring many additional compounds into Warner-Lambert's development pipeline. (Reuters) Warner Lambert (WLA) WARNER LAMBERT said it expects its flagship anti-cholesterol drug Lipitor to have booming sales in 1999 and beyond, but cautioned that its controversial diabetes drug Rezulin would likely have flat sales this year amid safety concerns. Warner-Lambert gave analysts its own estimates of potential sales for its leading drugs, most notably saying it agrees with Wall Street expectations that its flagship anti-cholesterol drug Lipitor would garner 1999 sales of $3.3 bln, growing to more than $4 bln in the year 2000. (Reuters 04:40 PM ET 05/18/99) For the full text story, see full story