Warner-Lambert Is Suing Pfizer

Tue., Nov. 30, 1999

From Staff

Warner-Lambert sued Pfizer on Monday, seeking to terminate Pfizer’s rights to co-market and share profits from the blockbuster cholesterol lowering drug Lipitor.

The pill, expected to reap $3.6 billion in 1999 sales, is at the heart of an $80 billion hostile takeover bid that Pfizer Inc. launched against Warner-Lambert Co. last month.

Warner-Lambert, the fastest-growing major drugmaker, is seeking to merge with American Home Products Corp., in a deal valued at $67 billion.

The winner in the battle for Morris Plains N.J.-based Warner-Lambert will become the world’s biggest drugmaker and grab a huge advantage in ensuring future sales growth and cash for research and marketing.

Warner-Lambert, which developed Lipitor, signed a deal in 1997 to co-market the drug with New York-based Pfizer.

Under terms of the five year Pfizer-Warner-Lambert marketing pact, Pfizer could not make a bid to buy Warner-Lambert.

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Warner-Lambert Is Suing Pfizer

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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