Pfizer
Executive Summary
Anticipates "modest" sales decline and a 30%-40% fall in net income in the second quarter of 1989 due to "unanticipated strengthening of the dollar against other major currencies, combined with the effect of unusual ordering patterns by pharmaceutical wholesalers in recent months," Pfizer Chairman Edmund Pratt announced. Wholesalers apparently took advantage of Pfizer's offer to stock up on Pfizer prescription drugs prior to a second quarter price increase.