reiterated its 2001 and 2002 profit guidance and was reportedly subpoenaed by the federal government to hand over information on drug prices.
The pharmaceuticals giant repeated profit estimates it released a month ago, saying it still expects to earn $1.56 to $1.60 a share this year, excluding items. For 2001, the company expects to earn at least $1.30 a share; analysts were forecasting earnings of $1.31.
The company sees 2002 revenue growing in the double digits and per-share earnings growth of 15% in 2003 and 2004.
The subpoena was issued after Pfizer refused to voluntarily comply with a General Accounting Office request that it turn over information in an investigation into the prices Medicaid pays for drugs, according to
The Wall Street Journal
. It cited potential competitive threats. Ten other drug companies have complied with the request, the paper reported.