A penny saved
Executive Summary
Pfizer faces an unusual challenge in reporting earnings following the Warner-Lambert merger: with so many shares outstanding, large increases in net income translate into relatively small movements in earnings per share. The company beat consensus estimates for the third quarter by 2[cents] per share. The same earnings performance would have translated into an extra 6[cents] per share for Merck, or 12[cents] per share for Lilly, Pfizer said