Alza

(AZA)

said its pharmaceutical and technology divisions will drive revenue and earnings this year, and the company projected growth of at least 20% in 2001.

The pharmaceutical company earned 82 cents a share in 2000. The projected 2001 increase would put earnings at 98 cents a share, 2 cents below the Wall Street consensus estimate.

First Call/Thomson Financial

queried 16 analysts, who arrived at a consensus profit forecast of $1 a share for 2001.

The company, which is based in Mountain View, Calif., reported revenue of $988 million in 2000. An increase of at least 20% in 2001 would yield a top line of about $1.2 billion.

Alza lost $1.57, or 3.8%, to close at $39.70 in

New York Stock Exchange

trading.