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Warner Lambert Co – ‘425’ on 3/29/00 re: Warner Lambert Co

On:  Wednesday, 3/29/00   ·   Accession #:  950172-0-653   ·   File #:  1-03608

Previous ‘425’:  ‘425’ on 2/15/00   ·   Latest ‘425’:  This Filing

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 3/29/00  Warner Lambert Co                 425                    1:22K  Warner Lambert Co                 Skadden Arps Sla..LLP/FA

Business-Combination Transaction Communication   —   Rule 425
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 425         Business-Combination Transaction Communication        16±    49K 

Filed by Warner-Lambert Company pursuant to Rule 425 under the Securities Act of 1933 and deemed filed pursuant Rule 14a-12 of the Securities Exchange Act of 1934 Commission File No: 001-3608 Subject Company: Warner-Lambert Company THE FOLLOWING IS A DESCRIPTION OF A PORTION OF A SLIDE PRESENTATION THAT IS BEING DISTRIBUTED TO MEMBERS OF WARNER-LAMBERT MANAGEMENT FOR FUTURE PRESENTATION TO WARNER-LAMBERT COLLEAGUES. ------------------------------------------------------------------------------ [Pfizer LOGO] [Warner-Lambert LOGO] THE BEST GET BETTER ------------------------------------------------------------------------------ [Pfizer LOGO] Warner-Lambert and Pfizer Two Great Companies The New Pfizer Not Just Bigger, But Better ------------------------------------------------------------------------------ [Pfizer LOGO] Warner-Lambert Corporate Structure Sales in over 150 Countries [Warner-Lambert LOGO] 1999 FY Pharmaceuticals Consumer Confectionery Revenue $7.9 $3.0 $2.0 ($ Billions) International 39% U.S. 61% Total $12.9 Billion Source: Warner-Lambert ------------------------------------------------------------------------------ [Pfizer LOGO]: Warner-Lambert: The Early Years [Graphic showing timeline with the following information:] WARNER 1850s: Philadelphia Pharmacist William Warner Creates Process to Sugar- coat Tablets 1886: Warner Founds Drug Company Bearing His Name Early 1900s:Pfeiffer Chemical Company Purchases Warner & Co. and Hudnut Company of New York: Combined Companies Called Warner & Co. 1940s: Warner & Co. Grown to 21 Marketing Branches Around the World 1952: Warner-Hudnutt Acquires Chilcott Labs 1955: Warner-Hudnut and Lambert Merge; Headquartered in New York LAMBERT: 1870s: Discovery of Original Formula for Antibacterial Listerine 1884: St. Louis: Jordan Lambert Forms Lambert Pharmaceutical Company to Market Listerine Antiseptic 1914: Listerine Was Introduced to Consumers as an Oral Antiseptic 1945: Name Changed to Warner-Hudnut and Goes Public 1955: Warner-Hudnut and Lambert Merge; Headquartered in New York PARKE-DAVIS: 1866: Detroit: Henry Parke and George Davis found Parke-Davis & Co. to Produce Botanical Medicines 1910: Parke Davis Builds Original Detroit Facilities 1938: Parke-Davis Discovers Epilepsy Drug, a Precursor of Dilantin 1949: Introduces Benadryl Antihistamine 1970: Warner-Lambert Acquires Parke-Davis and Schick ------------------------------------------------------------------------------ [Pfizer LOGO] Warner-Lambert: Recent History AMERICAN CHICLE (Adams) 1869: Thomas Adams Invents Chewing Gum 1962: Warner-Lambert Acquires American Chicle SCHICK 1920s: Colonel Jacob Schick Invents Original Schick Razor 1970: Warner-Lambert Acquires Parke-Davis and Schick WILKINSON SWORD 1770s: London: Henry Nock Becomes England's Foremost Gun and Bayonet Maker 1805: Business Expands to Sword Making 1877: Business Expands to Manufacture Straight Razors 1993: Warner-Lambert Acquires Wilkinson Sword WARNER-LAMBERT 1955: Warner-Hudnut and Lambert Merge; Headquartered in New York 1956: Warner-Lambert Relocates to Morris Plains, New Jersey 1962: Warner-Lambert Acquires American Chicle 1964: Acquisition of Halls Medicated Confectionery Brand 1970: Warner-Lambert Acquires Parke-Davis and Schick 1993: Investment of 34% Stake in French Pharmaceutical Company Jouveinal 1993: Acquires Wilkinson Sword 1995: Divestiture of Veterinary Business to Upjohn 1995: Acquisition of Glaxo-Wellcome Stake in Warner-Wellcome 1996: Lipitor Licensing Agreement with Pfizer 1996: Joint Ventures With Sankyo Corporation for Copromotion of Rezulin and Accupril 1996: Divestiture of Warner-Chilcott Generics Division 1997: Acquisition of Remaining Stake of Jouveinal 1998: Acquire Gene/Networks (Genomics Company) 1999: Acquisition of Agouron Pharmaceutical 2000 and Beyond..... ------------------------------------------------------------------------------ [Pfizer LOGO] Warner-Lambert Pharmaceutical Product Portfolio [Pie graph illustrating the following:] Sales by Therapeutic Categories and Key Products OB/GYN: 3% Loestrin Estrotep DIABETES: 8% Rezulin HIV/AIDS: 8% Viracept CNS: 15% Neurontin Dilantin CARDIOVASCULAR: 54% Lipitor Accupril OTHER: 12% 1999 Sales $7.9 Billion +30% US KEY PRODUCT SALES RANKINGS WITHIN THERAPEUTIC CATEGORIES: PRODUCT 1999 RANK GROWTH Lipitor #1 (+63%) Neurontin #1 (+63%) Rezulin #1 (+22%) Viracept #1 (+12%) Accupril #3 (+11%) Dilantin #3 (-8%) Source: Warner-Lambert ------------------------------------------------------------------------------ [Pfizer LOGO] Warner-Lambert Consumer Products 1999 Revenues ($ Millions) OTC HEALTHCARE $2,001 Digestive Health -Rolaids -Zantac 75 Herbal Supplements -Quanterra Oral Care -Efferdent -Listerine First Aid -Neosporin -Caladryl Respriratory -Sudafed -Sinutab -Halls Skin Care -Lubriderm -Benadryl Women's Health -EPT -Anusol -Tucks SHAVING $792 Schick Products -Personal Tack -Silk Effects -Tracer -Tracer FX -Protector -Slim Twin AQUARIUM PRODUCTS $203 Tetra -Tetra Second Nature -Tetra Pond -Tetra Press -Tetra Terra Fauna 1999 Sales $3.0 Billion 10% Growth Source: Warner-Lambert ------------------------------------------------------------------------------ [Pfizer LOGO] Warner-Lambert Confectionery Products [PHOTO] 4 Products Rank 1st or 2nd in Their Market Categories 1999 Sales $3.0 Billion 10% Growth Source: Warner-Lambert ------------------------------------------------------------------------------ [Pfizer LOGO] Agouron: A World Class Biotechnology Firm o Acquired by Warner-Lambert in 1999 o Leading Firm in Protein Structure-Based Drug Design o Discovered and Sell Viracept, Number 1 Protease Inhibitor o 11 Pipeline Drugs in Antivirals/Oncology o Vast Drug Library Exceeding 400,000 compounds o 700 Employees in R&D ------------------------------------------------------------------------------ [Pfizer LOGO] Current Warner-Lambert Infrastructure 43,967 WORLDWIDE EMPLOYEES o 20,702 Pharmaceutical o 7,811 Consumer o 13,749 Confectionery o 1,705 Corporate o 16,000 Domestic o 27,000 International FACILITIES o Headquarters: o Morris Plains, New Jersey (Corporate, Parke-Davis, Confectionery) o La Jolla, California (Agouron Pharmaceuticals) o Milford, Connecticut (Schick Shaving Products) o 62 Production Plants in 30 Countries o 13 R&D Facilities: o 4 Main Sites in US (New Jersey, Michigan, and California) o Principal International Sites: France, Japan, United Kingdom, Germany, Brazil and Mexico o 12 Main Distribution Sites in United States (Pennsylvania & Illinois) Source: Warner-Lambert ------------------------------------------------------------------------------ [Pfizer LOGO] Pfizer Corporate Structure Sales in Over 150 Countries [Pfizer LOGO] 1999 FY Pharmaceuticals Consumer Animal Health Revenues $14.3 $0.6 $1.3 International 39% U.S. 61% Total $16.2 Billion ------------------------------------------------------------------------------ [Pfizer LOGO] Pfizer Pharmaceutical Product Portfolio [Pie graph illustrating the following:] Sales by Therapeutic Categories and Key Products CNS: 16% Zoloft Aricept ARTHRITIS/ANTI-INFLAMMATORY: 4% Celebrex ALLERGY: 4% Zyrtec UROGENITAL: 7% Viagra ANTI-INFECTIVES: 20% Zithromax Difulcan CARDIOVASCULAR: 43% Norvasc Lipitor OTHER: 6% 1999 Sales $14.3 Billion +22% US KEY PRODUCT SALES RANKINGS WITHIN THERAPEUTIC CATEGORIES: PRODUCT 1999 RANK Norvasc #1 Zithromax #1 Aricept #1 Viagra #1 Celebrex #1 Lipitor #1 Difulcan VC #1 Zoloft #2 Glucotrol XL #2 Zyrtec #2 Cardura BPH #2 ------------------------------------------------------------------------------ [Pfizer LOGO] 1999 PPG "Billion Dollar Products" 7 "Billion Dollar" Products Norvasc Lipitor Zoloft Zithromax Difulcan Celebrex Viagra Source: IMS International, Pfizer Analysis ------------------------------------------------------------------------------ [Pfizer LOGO] Pfizer Consumer Healthcare 1999 Revenues ($ Millions) o Desitin o Ben-Gay o Visine o Cortizone o Unisom o RID o Plax o Barbasol 1999 Sales $561 Million 7% Growth ------------------------------------------------------------------------------ [Pfizer LOGO] Animal Health 1999 Revenues ($ Millions) o RespiSure o Revolution o Rimadyl o Anipryl o Dectomax o Zeniquin 1999 Sales $1.3 Billion 2% Growth ------------------------------------------------------------------------------ [Pfizer LOGO] Warner-Lambert and Pfizer: Two Great Companies The New Pfizer: Not Just Bigger, But Better ------------------------------------------------------------------------------ [Pfizer LOGO] The New Pfizer (1999 Pro Forma, $ Billions) [Pfizer LOGO] Pharmaceuticals Consumer Products Animal Health Confectionery $20.7 $3.6 $1.3 $2.0 International 40% U.S. 60% TOTAL $27.7 Billion Source: Pfizer and Warner-Lambert ------------------------------------------------------------------------------ [Pfizer LOGO] Clear and Obvious Benefits o $32 Billion in 2000E Revenues o Broad, Young Portfolio (2000E: 8 "Billion Dollar Products) o $1.6 Billion in Annual Cost Savings by 2002 ANNUAL AVERAGE NET INCOME GROWTH (2000-2002) 25% ------------------------------------------------------------------------------ [Pfizer LOGO] 1999 Diluted EPS Growth* (% Change) [Bar graph illustrating the following:] AHP (1) GLX 5 ABT 10 SBH 12 JNJ 14 PNU 14 MRK 14 BMY 15 LLY 18 SGP 20 PFE 30 WLA 35 *Excluding Unusual Items ------------------------------------------------------------------------------ [Pfizer LOGO] Not Just Bigger, But Better Fastest Growing Pharmaceutical Companies o 1999 Sales Up 22% o #1 in US o Strong Patent Protection Powerful Product Synergies o Breadth of CV, CNS and Anti-Infective Products o 15 Products > $500 Million Enhanced Global Reach o Top Five Positions in Most Markets o Largest, Most Admired Field Force Complimentary, High Quality R&D Organizations o >$4.0 Billion R&D Spend o Six Major State-of-the-Art Research Campuses o Agouron, World-Class Biotechnology Firm Similar Corporate Cultures o Team-Based o Performance-Driven o Innovative ------------------------------------------------------------------------------ [Pfizer LOGO] Significant Operational Synergies Lipitor o Exploit Worldwide Strengths Opportunities o Japan o Lipitor-Norvasc Combination Sales & o Enhanced Field Force Productivity / Shared Best Marketing Practices Research & o Depth, Breadth, and Scope of Therapeutic Areas / Development Leverage New Technologies ------------------------------------------------------------------------------ [Pfizer LOGO] Industry-Leading U.S. New Prescription Growth 1999, Pro Forma [Bar graph illustrating the following:] New Pfizer + 22% Merck + 13% AstraZeneca + 11% PNU/Monsanto + 8% Glaxo/SKB + 7% Johnson & Johnson + 5% Novartis + 1% - 3% Aventis - 6% BMS - 6% Lilly Source: IMS, Scott-Levin, Includes Pro Forma Top 10 Pharmaceutical Companies Worldwide Based on Sales ------------------------------------------------------------------------------ [Pfizer LOGO] Three Most Successful Launches in Pharmaceutical Industry History Most Successful Product Launched Each Year Since 1997 1997 Lipitor 1998 Viagra 1999 Celebex [graph depicting revenue [graph depicting revenue [graph depicting revenue in months post-launch] in months post-launch] in months post-launch] ------------------------------------------------------------------------------ [Pfizer LOGO] U.S. 1999 Product Sales Rankings Within Therapeutic Category PRODUCT RANK NORVASC #1 ARICEPT #1 DIFLUCAN (VC) #1 VIAGRA #1 CELEBREX #1 ZITHROMAX #1 Ten #1 LIPITOR #1 Products VIRACEPT #1 REZULIN #1 NEURONTIN #1 CARDURA (BPH) #2 ZOLOFT #2 GLUCOTROL XL #2 ZYRTEC #2 ACCUPRIL #3 DILANTIN #3 LOESTRIN #8 Source: IMS ------------------------------------------------------------------------------ [Pfizer LOGO] Top 20 Products by Worldwide Sales 1999 ($Millions) PRODUCT SALES PRODUCT SALES Losec $5,896 Renitec $1,899 Zocor $3,995 Augmentin $1,817 LIPITOR $3,789 Epogen $1,782 NORVASC $3,039 Cipro $1,615 Prozac $2,961 Erypo $1,606 Ogastro $2,305 Pravachol $1,601 Paxil $2,120 CELEBREX $1,433 ZOLOFT $2,036 Risperdal $1,399 Claritin $1,963 Glucophage $1,386 Zyprexa $1,895 ZITHROMAX $1,338 More Products in Top 20 Than Any Other Company Source: IMS Health ------------------------------------------------------------------------------ [Pfizer LOGO] Rising to Top of Worldwide Sales Rankings Pro Forma - Rx Only Co-Promote Share, Preliminary Results 1990 1999 1 Merck 1 NEW PFIZER 2 BMS 2 Glaxo/SKB 3 Glaxo Wellcome 3 Merck 4 SKB 4 AstraZeneca 5 Ciba-Geigy 5 BMS 6 American Home Products 6 Novartis 7 Hoechst 7 Aventis 8 J&J 8 J&J 9 Lilly 9 Lilly 10 Bayer 10 PNU/Monsanto 11 Roche 11 American Home Products 12 Sandoz 12 Roche 13 Rhone-Poulenc 13 Schering-Plough 14 PFIZER 14 Abbott Source: IMS MIDAS: 4Q 1999 Preliminary Excludes OTCs (When Possible) and Nutritionals Includes Alliance Sales Proportionate to Promotional Effort ------------------------------------------------------------------------------ [Pfizer LOGO] Expanded Current Product Portfolio [Pfizer LOGO] [Warner-Lambert LOGO] CNS Depression/Anxiety X Alzheimer's X Epilepsy X Cardiovascular ACE X CCB X X Cholesterol Lowering X Anti- Macrolide X Infective / Antiviral Antifungal X HIV X Diabetes X X Women's Health Menopause X Contraception X Vaginal Candidiasis X Respiratory Allergy X Other Arthritis X Analgesic X Erectile Dysfunction X BPH X ------------------------------------------------------------------------------ [Pfizer LOGO] Unbeatable Platform: R&D COMPANY 1999E TOTAL R&D SPENDING ($ BILLIONS) New Pfizer 4.1 Glaxo/SmithKline 3.6 Aventis 2.9 PFIZER 2.8 AstraZeneca 2.8 Johnson & Johnson 2.5 Novartis 2.5 Roche 2.3 Merck 2.1 Bristol-Myers Squibb 1.8 Eli Lilly 1.8 American Home Products 1.7 Pharmacia & Upjohn 1.3 WARNER-LAMBERT 1.3 Schering-Plough 1.2 $4.7 Billion Estimated for 2000 Source: Analysts' Consensus ------------------------------------------------------------------------------ [Pfizer LOGO] Unbeatable Platform: Therapeutic Categories Products in Development CARDIOVASCULAR Avasimibe** HIV Remune** Accupril - New VFend* Indications** Zithromax - MAC Treatment* Norvasc - New AG-1549** Indications* AG 1776** AG-1029** VEGF** CI-1031 - Anticoagulant** CHOLESTEROL Norvasc*-Lipitor** RHINOVIRUS AG-7088** LOWERING Combo* CI-1027** DIABETES Zenarestat** ONCOLOGY Prinomastat (MMPI)** Losoxantrone** Inhaled insulin* Celebrex - FAP* CP-368,296* CP-358,774* CI-994** CI-1042** CI-1006** CNS Relpax* WOMEN'S Darifenacin* HEALTH Zeldox* Lasofoxifene* Neurontin** Viagra* Pagoclone** femhrt** Pregabalin** Estrostep** CP-101,606* UK-279,276* CI-1032-Combo** CI-1017** Pfizer* Warner-Lambert** ------------------------------------------------------------------------------ [Pfizer LOGO] Similar Culture, Similar Values [Pfizer LOGO] [Warner-Lambert LOGO] Teamwork Performance Innovation ------------------------------------------------------------------------------ [Pfizer LOGO] Recent Accolades [Pfizer LOGO] [Warner-Lambert LOGO] Forbes "Company of the Year" Financial Times "42nd Among Largest 500 Global Companies" Fortune "America's Most Admired Business Week "12th Among the Pharmaceutical Company" Standard and Poor's 500 Index in Financial Success" Industry Week "100 Best Managed Forbes "Platinum 400 List for Best Companies" Performing Companies" Working Mother "100 Best Companies Money "Top Pick to Deliver Consistent for Working Mothers" Earnings for the Next Five Years" Council of State Governments Barron's "31st of Top 500 Companies" "Corporate Citizen Award" Council on Economic Priorities "Corporate Conscience Award" Former Surgeon General E. Koop's Working Mother "100 Best Companies "National Health Award" for Working Mothers" Association of Worksite Health Promotion "Excellence Award" Scott-Levin "Highest Quality Image Sales Force" Five Years in a Row ------------------------------------------------------------------------------ [Pfizer LOGO] PPG Major Challenge o Achieve and Sustain #1 Position o Maintain Product-by-Product, Market-by-Market, Customer-by-Customer Focus $ 6 Billion [Warner-Lambert LOGO] $24 Billion $30 Billion [Pfizer LOGO] [Pfizer LOGO] $12 Billion [Pfizer LOGO] 1998 2000 Budget 2002E ------------------------------------------------------------------------------ The Best Get Better [Pfizer LOGO] [Warner-Lambert LOGO] [PHOTO] [PHOTO] Merger Will Create a Pharmaceutical Powerhouse ------------------------------------------------------------------------------ * * * * * * These communications include certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are naturally subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained herein. The forward-looking statements in this document include statements about future financial and operating results and the proposed Warner-Lambert/Pfizer transaction. The following factors, among others, could cause actual results to differ materially from those described herein: inability to obtain, or meet conditions imposed for, governmental approvals for the merger between Warner-Lambert and Pfizer; failure of the Warner-Lambert or Pfizer stockholders to approve the merger; the risk that the Warner-Lambert and Pfizer businesses will not be integrated successfully; the costs related to the merger; and other economic, business, competitive and/or regulatory factors affecting and Warner-Lambert's and Pfizer's businesses generally. More detailed information about those factors is set forth in Warner-Lambert's and Pfizer's filings with the Securities and Exchange Commission, including their Annual Reports filed on Form 10-K for the fiscal year ended 1998, especially in the Management's Discussion and Analysis section, their most recent quarterly reports on Form 10-Q, and their Current Reports on Form 8-K. Warner-Lambert and Pfizer are under no obligation to (and expressly disclaim any such obligation to) update or alter their forward-looking statements whether as a result of new information, future events or otherwise. * * * * * * On November 15, 1999, Pfizer filed a joint proxy statement/prospectus in connection with its proposed merger with Warner-Lambert. Pfizer and Warner-Lambert jointly prepared and filed amendments to the joint proxy statement/prospectus with the Securities and Exchange Commission on February 22 and March 9, 2000. The joint proxy statement/prospectus was declared effective by the SEC on March 9, 2000. WE URGE INVESTORS TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus and other documents filed by Pfizer Inc. and Warner-Lambert Company with the Commission at the Commission's web site at In addition, the joint proxy statement/prospectus and other documents filed with the SEC by Pfizer may be obtained for free from Pfizer by directing a request to Pfizer Inc., 235 42nd Street, New York, New York 10017, Attention: Investor Relations, telephone: (212) 573-2668. Documents filed with the SEC by Warner-Lambert may be obtained for free from Warner-Lambert by directing a request to Warner-Lambert Company, 201 Tabor Road, Morris Plains, New Jersey 07950, Attention: Corporate Secretary, telephone (973) 385-4593. Warner-Lambert and certain other persons will be soliciting proxies from Warner- Lambert shareholders in favor of the merger. Information concerning the participants in the solicitation is included in the filing under Rule 425 made by Warner-Lambert with the SEC on February 9, 2000.

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