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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report: April 19, 2005
Date of earliest event reported: April 18, 2005
PFIZER INC.
(Exact name of registrant as specified in its charter)
Delaware 1-3619 13-5315170
(State or other (Commission File (I.R.S. Employer
jurisdiction of (Number) Identification No.)
incorporation)
235 East 42nd Street
New York, New York 10017
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code:
(212) 573-2323
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the obligation of the registrant under any of the
following provisions:
[ ] Written communication pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2{b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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Item 2.02 Results of Operations and Financial Condition
On April 19, 2005, Pfizer Inc. (the "Company" or "Pfizer") issued a press
release announcing its financial results for the first quarter of 2005. The
information contained in the press release is deemed to be "filed" under the
Securities Exchange Act of 1934 as Exhibit 99 to this report, and such press
release is incorporated herein by reference.
Item 2.06 Material Impairments
On April 18, 2005, the Company determined that certain intangible assets
relating to Bextra, one of our selective Cox-2 inhibitor pain relievers, have
become impaired due to our decision, announced on April 7, 2005, to suspend the
sales of Bextra. The Company recorded certain charges totaling $1.213 billion
($766 million, net of tax) in the first quarter of 2005. These pre-tax charges
included $1.145 billion relating to the impairment of Bextra's intangible assets
for developed technology rights, $10 million for the write-off of machinery and
equipment, $56 million in write-offs of inventory, and $2 million relating to
the costs of administering the suspension of sales.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit 99 - Press Release of Pfizer Inc. dated
April 19, 2005, reporting Pfizer's financial results for the
first quarter of 2005. Exhibit 99 is deemed to be "filed" under
the Securities Exchange Act of 1934 in this Current Report
on Form 8-K.
SIGNATURE
Under the requirements of the Securities Exchange Act of 1934, the registrant
has caused this report to be signed on its behalf by the authorized undersigned.
PFIZER INC.
By: /s/ Margaret M. Foran
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Margaret M. Foran
Title: Vice President-Corporate
Governance and Secretary
Dated: April 19, 2005
EXHIBIT INDEX
Exhibit No. Description
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99 Press Release of Pfizer Inc. dated April 19, 2005, reporting
Pfizer's financial results for the first quarter of 2005.