Condensed Consolidated Statement of Income  
(unaudited) Pfizer Inc and Subsidiary Companies
  Second Quarter*
 First Quarter*
 Six Months*
(millions, except per share data) 1997 1996 % Chg. 1997 1996 % Chg. 1997 1996 % Chg.
  • Net sales
    		•  $2,854 $2,661 7 $3,002 $2,682 12 $5,856 $5,343 10
  • Alliance revenue
    		•  59 0 ** (1) 0 ** 58 0 **
  • Total revenues
    		•  2,913 2,661 9 3,001 2,682 12 5,914 5,343 11
  • Costs and expenses
    		•                   
    • Cost of sales
    		 510 521 (2) 545 513 6 1,055 1,034 2
    • Selling, informational and administrative expenses
    		 1,245 1,083 15 1,114 994 12 2,359 2,077 14
    • Research and development expenses
    		 461 422 9 413 366 13 874 788 11
    • Other deductions—net
    		 61 61 0 67 57 18 128 118 8
  • Income before provision for taxes on income and minority interests
    		•  636 574 11 862 752 15 1,498 1,326 13
  • Provision for taxes on income
    		•  175 178 (2) 259 233 11 434 411 6
  • Minority interests
    		•  4 2 100 1 2 (50) 5 4 25
  • Net income
    		•  $  457 $ 394 16 $ 602 $ 517 16 $1,059 $ 911 16
  • Earnings per common share
    		•  $   .35 $  .31 13 $  .46 $  40 15 $    .81 $  .71 14
  • Weighted average number of common shares and common share equivalents outstanding
    		•  1,301 1,285 1 1,299 1,281 1 1,300 1,283 1
    *

    For the second quarter and six month periods ended June 29, 1997 and June 30, 1996 and for the first quarters ended March 30, 1997 and March 31, 1996. Subsidiaries operating outside the United States generally are included for the second quarter and six month periods on the basis of interim periods ended May 25, 1997 and May 26, 1996 and for the first quarter on the basis of interim quarterly periods ended February 23, 1997 and February 25, 1996.
    ** Calculation not meaningful.
    • Earnings per common share have been restated to reflect the two-for-one stock split in the form of a 100% stock dividend paid on June 30, 1997 to shareholders of record on June 2, 1997.
    • The Company has entered into alliances in the U.S. and on a broad basis around the world with Eisai Co., Ltd. to promote Aricept and with the Parke-Davis division of Warner-Lambert Company to promote Lipitor. Alliance revenue reflects amounts earned by the Company, net of certain obligations incurred under the agreements. Other expenses associated with these copromoted products are reflected in selling, informational and administrative expenses.
    • The financial results for the periods ended June 29, 1997 are not necessarily indicative of the results which ultimately might be achieved for the current year.
     
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