First Quarter   

(millions, except per share data)

  2000 

  1999

Revenues

$7,222 

$6,580

Costs and expenses:

Cost of sales

1,207 

1,262

Selling, informational and administrative expenses

2,794 

2,641

Research and development expenses

1,061 

929

Merger-related costs

1,838 

--

Other (income)/deductions--net

   (88)

     38

Income before provision for taxes on income and minority interests

410 

1,710

Provision for taxes on income

613 

495

Minority interests

     1 

      1

Net income/(loss)

$ (204)
====== 

$ 1,214
=======

Income/(loss) per common share--basic

$ (.03)
====== 

$   .20
=======

Income/(loss) per common share--diluted

$ (.03)
====== 

$   .19
=======

Weighted average shares--basic

6,152 
====== 

6,123
=======

Weighted average shares-diluted (see note 4)

6,152 
====== 

6,360
=======

Cash dividends per common share

$  .09 
====== 

$.07 1/3
=========

(millions, except per share data)

         First Quarter*      

  2000 

  1999 (1)

% Change

Income before provision for taxes on income and minority interests

$2,177 

$1,710

27%

Net income

$1,584 

$1,214

30%

Earnings per common share--diluted

$  .25 

$  .19

32%

Weighted average shares-diluted

6,322 

6,360

The results above exclude the following First Quarter 2000 items:

Significant items, pre-tax:

Gain on sale of research-related equity investments (2)

$ (135)

Gain on sale of Omnicef brand (2)

(39)

Costs associated with the withdrawal of Rezulin (2)

   103 

  Total significant items

   (71)

Merger-related costs, pre-tax:

Merger termination fee paid by Warner-Lambert  to American Home Products Corporation (AHP)  and other expenses related to the proposed  merger with AHP

 1,838 

Total significant items and merger-related costs, pre-tax

1,767 

Income taxes

    21 

Total significant items and merger-related costs, after-tax

$1,788 
======