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<TITLE>Pfizer Inc. 2001 Performance-Contingent Share Award Plan Form S-8</TITLE>
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<FONT SIZE=2>
<P ALIGN="CENTER">As filed with the Securities and Exchange Commission on April
  27, 2001<br>
  Registration Statement No. 333- ____</P>
<P ALIGN="CENTER"></P>
</FONT><FONT FACE="Arial" SIZE=4>
<P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION<BR>
  450 5th Street N.W.<br>
  <b><font size="3">Washington, D.C. 20549</font></b></P>
</FONT><FONT SIZE=2><U>
<P ALIGN="CENTER">&#9;&#9;</P>
</U></FONT><FONT SIZE=4>
<P ALIGN="CENTER"><b><font size="5">FORM S-8</font><br>
  <font size="3">REGISTRATION STATEMENT<br>
  </font></b><font size="3"><font size="2">Under</font></font><b><font size="3"><br>
  THE SECURITIES ACT OF 1933</font></b></P>
</FONT><FONT SIZE=2><U>
<P ALIGN="CENTER">&#9;&#9;</P>
</U></FONT><FONT SIZE=4>
<P ALIGN="CENTER"><b>PFIZER INC.<br>
  </b><font size="2">(Exact name of Registrant as specified in its charter)</font></P>
</font><FONT SIZE=2>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER"><B>DELAWARE</b>&#9;&#9;&#9;&#9;&#9;&#9;&#9;<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13-5315170<br>
  </b>(State of Incorporation)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;&#9;&#9;&#9;(I.R.S.
  Employer Identification No.)</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER"><b>235 EAST 42ND STREET<br>
  NEW YORK, NEW YORK 10017-5755</b><br>
  (Address of Principal Executive Offices)</P>
<U>
<P ALIGN="CENTER">&#9;&#9;</P>
</U>
<P ALIGN="CENTER"><b>PFIZER INC. 2001 PERFORMANCE-CONTINGENT SHARE AWARD PLAN<br>
  </b>(Full Title of the Plan)</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER"><b>MARGARET M. FORAN, ESQ.<br>
  PFIZER INC.<br>
  235 EAST 42ND STREET<br>
  NEW YORK, NEW YORK 10017-5755<br>
  </b> (Name and Address of Agent for Service)</P>
<P ALIGN="CENTER"><b>(212) 733-4802<br>
  </b> (Telephone Number of Agent for Service)</P>
<U>
<P ALIGN="CENTER">&#9;&#9;</P>
</U></FONT>
<TABLE BORDER CELLSPACING=1 CELLPADDING=7 WIDTH=720>
<TR><TD VALIGN="TOP" COLSPAN=5>
<B><FONT SIZE=2><P ALIGN="CENTER">CALCULATION OF REGISTRATION FEE</font></B></TD>
</TR>
<TR><TD WIDTH="26%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">Title of Securities to be Registered</font></B></TD>
<TD WIDTH="14%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">Amount to be Registered</font></B></TD>
    <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
      <P ALIGN="CENTER"><b>Proposed Maximum Offering Price Per Share </b><font size="-1"><font size="-3">(1)</font></font><font size="-1"></font><b><font size="-1">
        </font> </b>
      </font></TD>
    <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
      <P ALIGN="CENTER"><b>Proposed Maximum Aggregate Offering Price<font size="-1">
        </font></b><font size="-1"><font size="-2">(1)</font></font><b><font size="-1">
        </font></b>
      </font></TD>
<TD WIDTH="20%" VALIGN="TOP">
<B><FONT SIZE=2><P ALIGN="CENTER">Amount of Registration Fee</font></B></TD>
</TR>
<TR><TD WIDTH="26%" VALIGN="TOP">
<FONT SIZE=2>
      <P>Common Stock, $.05 par value <font size="-2">(2)</font>
      </FONT></TD>
<TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=2><P ALIGN="CENTER">12,500,000 shs.</FONT></TD>
<TD WIDTH="20%" VALIGN="TOP">
<FONT SIZE=2>
      <P ALIGN="CENTER">$ 40.79
      </FONT></TD>
<TD WIDTH="20%" VALIGN="TOP">
<FONT SIZE=2>
      <P ALIGN="CENTER">$ 509,875,000
      </FONT></TD>
<TD WIDTH="20%" VALIGN="TOP">
<FONT SIZE=2>
      <P ALIGN="CENTER">$ 127,469
      </FONT></TD>
</TR>
</TABLE>

<B><FONT SIZE=2>
<P ALIGN="CENTER">&nbsp;</P>
</font></B><FONT SIZE=2>
<P ALIGN="left"><font size="1">(1). Estimated to calculate the registration fee
  based on the average of the high and low prices of Pfizer Inc. Common Stock
  for New York Stock Exchange Composite Transactions on April 24, 2001, as reported
  in The Wall Street Journal. </font></P>
<P ALIGN="left"><font size="1">(2). Includes Pfizer Preferred Stock purchase rights
  which, until events specified in Pfizer's Rights Agreement occur, will not be
  exercisable or evidenced separately from the Common Stock. </font></P>
</font><B><FONT SIZE=2> </font></B>
<hr noshade>
<B><FONT SIZE=2>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">PART II.</P>
<P ALIGN="CENTER">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</P>
</font></B><FONT SIZE=2> <B>
<P ALIGN="JUSTIFY">ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE</P>
</B>
<P ALIGN="JUSTIFY">The following are incorporated by reference: </P>
<UL>
  <P ALIGN="JUSTIFY">
  <LI>The Annual Report of Pfizer Inc. on Form 10-K for the year ended December
    31, 2000,</LI>
  <p></P>
  <P ALIGN="JUSTIFY">
  <LI>all other reports we filed under Sections 13(a) or 15(d) of the Securities
    Exchange Act of 1934,</LI>
  <p></P>
  <P ALIGN="JUSTIFY">
  <LI>the description of our common stock contained in our Registration Statement
    filed under Section 12 of the Securities Exchange Act of 1934, and any amendment
    or report filed to update such description.</LI>
  <p></P>
</UL>
<P ALIGN="JUSTIFY">All documents later filed by us under Section 13(a), 13(c),
  14, and 15(d) of the Securities Exchange Act of 1934, before we file a post-effective
  amendment that indicates all securities offered have been sold or which deregisters
  all securities that have not been sold, will be incorporated by reference and
  will be a part of this filing from the date that document was filed.</P>
<P ALIGN="JUSTIFY"></P>
<B>
<P ALIGN="JUSTIFY">ITEM 4. DESCRIPTION OF SECURITIES</P>
</B></FONT>
<blockquote>
  <p><FONT SIZE=2>Not applicable.</FONT></p>
</blockquote>
<FONT SIZE=2>
<P ALIGN="JUSTIFY"></P>
<B>
<P ALIGN="JUSTIFY">ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL</P>
</B>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The validity of the securities
  has been passed upon by Margaret M. Foran, Esq., Vice President and Assistant
  Secretary for the Company. Ms. Foran beneficially owns Common Stock and options
  to purchase Common Stock granted under the Pfizer Inc. Stock and Incentive Plan.
</P>
<P ALIGN="JUSTIFY"></P>
<B>
<P ALIGN="JUSTIFY">ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS</P>
</B>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section 145 of the General Corporation
  Law of Delaware permits a corporation to indemnify any person who is or has
  been a director, officer, employee or agent of the corporation or who is or
  has been serving as a director, officer, employee or agent of another corporation,
  organization or enterprise at the request of the corporation, against all liability
  and expenses (including, but not limited to, attorneys' fees and disbursements
  and amounts paid in settlement or in satisfaction of judgments or as fines or
  penalties) incurred or paid in connection with any action, suit or proceeding,
  whether civil, criminal, administrative, investigative or otherwise, in which
  he/she may be involved by reason of the fact that he/she served or is serving
  in these capacities, if he/she acted in good faith and in a manner he/she reasonably
  believed to be in or not opposed to the best interests of the corporation and,
  with respect to any criminal action or proceeding, had no cause to believe his/her
  conduct was unlawful. In the case of a claim, action, suit or proceeding made
  or brought by or in the right of the corporation to procure a recovery or judgment
  in its favor, the corporation shall not indemnify such person in respect of
  any claim, issue or matter as to which such person has been adjudged to be liable
  to the corporation for negligence or misconduct in the performance of his/her
  duty to the corporation, except for such expenses as the Court may allow. Any
  such person who has been wholly successful on the merits or otherwise with respect
  to any such claim, action, suit or proceeding or with respect to any claim,
  issue or matter therein, shall be indemnified as of right against all expenses
  in connection therewith or resulting therefrom.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to Article V, Section
  1 of our By-Laws, we will indemnify directors and officers to the fullest extent
  permitted by applicable law as it presently exists or is amended. We are insured
  against actions taken under our By-Laws and our directors and officers are insured
  directly at our expense against such liabilities for which indemnification is
  not made. We have entered into agreements with our directors and certain of
  our officers requiring us to indemnify such persons to the fullest extent permitted
  by our By-Laws.</P>
<P ALIGN="JUSTIFY"></P>
<B>
<P ALIGN="JUSTIFY">ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED</P>
</B> </FONT>
<blockquote>
  <p><FONT SIZE=2>Not Applicable.</FONT></p>
</blockquote>
<FONT SIZE=2>
<P ALIGN="JUSTIFY"></P>
<B>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">ITEM 8. EXHIBITS</P>
<I><U>
<p ALIGN="JUSTIFY">EXHIBIT</p>
</u></i></B>
<p ALIGN="left">4 --&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;Pfizer
  Inc. 2001 Performance-Contingent Share Award Plan</p>
<p ALIGN="left">5 --&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Opinion
  and Consent of Margaret M. Foran, Esq., Vice President and Assistant Secretary.</p>
<p ALIGN="left">23(1) --&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consent
  of KPMG LLP, independent certified public accountants.</p>
<p ALIGN="left">23(2) --&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consent
  of PricewaterhouseCoopers LLP, independent certified public accountants.</p>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<B>
<P ALIGN="JUSTIFY">ITEM 9. UNDERTAKINGS</P>
</B>
<P ALIGN="JUSTIFY">The Company undertakes:</P>
<OL>
  <P ALIGN="JUSTIFY">
  <LI>to file, during any period in which offers or sales are being made, a post-effective
    amendment to this registration statement:</LI>
  <p></P>
  <OL TYPE="i">
    <P ALIGN="JUSTIFY">
    <LI>To include any prospectus required by Section 10(a)(3) of the Securities
      Act of 1933; </LI>
    <p></P>
    <P ALIGN="JUSTIFY">
    <LI>To reflect in the prospectus any facts or events arising after the effective
      date of the registration statement (or the most recent post-effective amendment)
      which, individually or in the aggregate, represent a fundamental change
      in the information set forth in the registration statement;</LI>
    <p></P>
    <P ALIGN="JUSTIFY">
    <LI>To include any material information about the plan of distribution not
      already disclosed in the registration statement or any material change to
      such information in the registration statement;</LI>
    <p></P>
  </OL>
  <P ALIGN="JUSTIFY">provided, however, that paragraphs (1)(i) and (1)(ii) do
    not apply if the registration statement is on Form S-3 or Form S-8 and the
    information required to be included in a post-effective amendment by those
    paragraphs is contained in periodic reports filed by the registrant pursuant
    to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that
    are incorporated by reference in the registration statement.</P>
  <P ALIGN="JUSTIFY">
  <LI>that, for purposes of determining any liability under the Securities Act
    of 1933, each such post-effective amendment shall be a new registration statement
    relating to the securities offered, and the offering of such securities at
    that time will be viewed as the initial bona fide offering.</LI>
  <p></P>
  <P ALIGN="JUSTIFY">
  <LI>to remove from registration by means of a post-effective amendment any of
    the securities being registered which remain unsold at the end of the offering.</LI>
  <p></P>
  <P ALIGN="JUSTIFY">
  <LI>that, for purposes of determining any liability under the Securities Act
    of 1933, each filing of the registrant's annual report pursuant to Section
    13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where
    applicable, each filing of an employee benefit plan's annual report pursuant
    to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated
    by reference in the registration statement will be a new registration statement
    relating to the securities offered, and the offering of such securities at
    that time shall be deemed to be the initial bona fide offering.</LI>
  <p></P>
</OL>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for
  liabilities arising under the Securities Act of 1933 may be permitted to directors,
  officers and controlling persons of the registrant under the foregoing provisions,
  or otherwise, the registrant has been advised that in the opinion of the Securities
  and Exchange Commission such indemnification is against public policy as expressed
  in the Act and is, therefore, unenforceable. In the event that a claim for indemnification
  against such liabilities (other than the payment by the registrant of expenses
  incurred or paid by a director, officer or controlling person of the registrant
  in the successful defense of any action, suit or proceeding) is asserted by
  such director, officer or controlling person in connection with the securities
  being registered, the registrant will, unless in the opinion of its counsel
  the matter has been settled by controlling precedent, submit to a court of appropriate
  jurisdiction the question whether such indemnification by it is against public
  policy as expressed in the Act and will be governed by the final adjudication
  of such issue.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="CENTER">&nbsp;</P>
<B>
<P ALIGN="CENTER">SIGNATURES</P>
</B>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY"> &#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the requirements of
  the Securities Act of 1933, the Registrant has reasonable grounds to believe
  that it meets all of the requirements for filing on Form S-8 and has caused
  this Registration Statement to be signed on its behalf by the authorized signer
  in The City of New York, State of New York, on the 27th day of April, 2001.</P>
<P ALIGN="JUSTIFY"></P>
</FONT>
<blockquote>
  <blockquote>
    <blockquote>
      <blockquote>
        <blockquote>
          <blockquote>
            <p><FONT SIZE=2>&#9;&#9;&#9;&#9;&#9;&#9;Pfizer Inc.<br>
              &#9;&#9;&#9;&#9;&#9;&#9;Registrant</FONT></p>
            <p><FONT SIZE=2>&#9;&#9;&#9;&#9;&#9;&#9;By:<U>&#9;/s/ C. L. Clemente&#9;&#9;</u></FONT></p>
          </blockquote>
        </blockquote>
      </blockquote>
    </blockquote>
  </blockquote>
</blockquote>
<FONT SIZE=2>
<P>Dated: April 27, 2001&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C.
  L. Clemente, <br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  <font size="-1">Executive Vice President,<br>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Secretary
  and Corporate Counsel</font>
</FONT><P><FONT SIZE=2>&nbsp;
</font><FONT SIZE=2>
<P>&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the requirements of the Securities
  Act of 1933, this Registration Statement was signed by the following persons
  on behalf of the Registrant in the capacities and on the dates indicated. </P>
</FONT>
<P ALIGN="CENTER"><CENTER>
  <TABLE CELLSPACING=0 BORDER=0 CELLPADDING=4 WIDTH=648>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <B><U><FONT SIZE=2>
        <P ALIGN="CENTER">Signatures
        </font></u></B></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <B><U><FONT SIZE=2>
        <P ALIGN="CENTER">Title
        </font></u></B></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <B><U><FONT SIZE=2>
        <P ALIGN="CENTER">Date
        </font></u></B></TD>
    </TR>
    <tr>
      <td valign="TOP" colspan=2> <font size=2>
        <p>&nbsp;</p>
        </font> <u>/s/ William C. Steere, Jr.</u><font size=2>
        <p>(William C. Steere, Jr.)</p>
        </font></td>
      <td width="38%" valign="TOP"> <font size=2>
        <p>&nbsp;</p>
        <p>Chairman of the Board and Director<br>
          (Principal Executive Officer)</p>
        </font></td>
      <td width="20%" valign="TOP"> <font size=2>
        <p>&nbsp;</p>
        <p>April 27, 2001</p>
        </font></td>
    </tr>
    <TR>
      <TD WIDTH="42%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ Henry A. McKinnell<FONT SIZE=2> </FONT></u><FONT SIZE=2>
        <P>(Henry A. McKinnell)</P>
        <U></U></FONT></TD>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Chief Executive Officer, President<br>
          and Director<br>
          (Principal Executive Officer)</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ David L. Shedlarz<FONT SIZE=2> </FONT></u><FONT SIZE=2>
        <P>(David L. Shedlarz)</P>
        </FONT> </TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Executive Vice President and Chief <br>
          Financial Officer (Principal Financial Officer)</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ Loretta V. Cangialosi<FONT SIZE=2> </FONT></u><FONT SIZE=2>
        <P>(Loretta V. Cangialosi)</P>
        </FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Vice President - Controller (Principal Accounting Officer)</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ Michael S. Brown</u><FONT SIZE=2>
        <P>(Michael S. Brown)</P>
        </FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Director</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ M. Anthony Burns</u><FONT SIZE=2>
        <P>(M. Anthony Burns)</P>
        </FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Director</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <U><FONT SIZE=2>
        <P><br>
        </P>
        </font> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>
        <p><font size="2">(Robert N. Burt)</font></p>
        <U><FONT SIZE=2></font></U><FONT SIZE=2></FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Director </P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>&nbsp;</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ W. Don Cornwell<FONT SIZE=2> </FONT></u><FONT SIZE=2>
        <P>(W. Don Cornwell)</P>
        </FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Director</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ William H. Gray, III<FONT SIZE=2> </FONT></u><FONT SIZE=2>
        <P>(William H. Gray, III)</P>
        </FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Director</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ Constance J. Horner</u><FONT SIZE=2>
        <P>(Constance J. Horner)</P>
        </FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Director</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ William R. Howell<FONT SIZE=2> </FONT></u><FONT SIZE=2>
        <P>(William R. Howell)</P>
        </FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Director</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ Stanley O. Ikenberry</u><FONT SIZE=2>
        <P>(Stanley O. Ikenberry)</P>
        <U></U></FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Director</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ Harry P. Kamen<FONT SIZE=2> </FONT></u><FONT SIZE=2>
        <P>(Harry P. Kamen)</P>
        <U></U></FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Director</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ George A. Lorch<FONT SIZE=2> </FONT></u><FONT SIZE=2>
        <P>(George A. Lorch)</P>
        <U></U></FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Director</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ Alex J. Mandl<FONT SIZE=2> </FONT></u><FONT SIZE=2>
        <P>(Alex J. Mandl)</P>
        <U></U></FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Director</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ Dana G. Mead<FONT SIZE=2> </FONT></u><FONT SIZE=2>
        <P>(Dana G. Mead)</P>
        </FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Director</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ John F. Niblack</u><FONT SIZE=2>
        <P>(John F. Niblack)</P>
        <U></U></FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Vice Chairman and Director</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ Franklin D. Raines<FONT SIZE=2> </FONT></u><FONT SIZE=2>
        <P>(Franklin D. Raines)</P>
        </FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Director</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2><p></p>
        <p>&nbsp;</p>
        <p><u>/s/ Ruth J. Simmons</u><br>
          <font size="-1">(Ruth J. Simmons)</font><FONT SIZE=2><U></U></FONT>
        </p>
      </TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Director
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><FONT SIZE=2>
        <P>(Michael I. Sovern)</P>
        <U></U></FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Director</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>&nbsp;</P>
        </FONT></TD>
    </TR>
    <TR>
      <TD VALIGN="TOP" COLSPAN=2> <FONT SIZE=2>
        <P>&nbsp;</P>
        </FONT> <u>/s/ Jean-Paul Valles<FONT SIZE=2> </FONT></u><FONT SIZE=2>
        <P>(Jean-Paul Valles)</P>
        <U></U></FONT></TD>
      <TD WIDTH="38%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>Director</P>
        </FONT></TD>
      <TD WIDTH="20%" VALIGN="TOP"> <FONT SIZE=2>
        <P>&nbsp;</P>
        <P>April 27, 2001</P>
        </FONT></TD>
    </TR>
  </TABLE>
  <p>&nbsp;</p>
  <p>&nbsp;</p>
</CENTER><p></P>

<B><FONT SIZE=2><P ALIGN="CENTER"></P>
<P ALIGN="CENTER">EXHIBIT INDEX</P>
</font></B>
<P ALIGN="JUSTIFY"></P>
<B><I><U>
<P ALIGN="left">EXHIBIT</P>
</u></i></B>
<div align="left"><U></u> </div>
<div align="left"></div>
<blockquote>
  <p><font size="2">4 --&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pfizer
    Inc. 2001 Performance-Contingent Share Award Plan</font></p>
  <p><font size="2">5 --&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#9;Opinion
    and Consent of Margaret M. Foran, Esq., Vice President and Assistant Secretary.</font></p>
</blockquote>
<div align="left"></div>
<blockquote>
  <p><font face="Font14713,Times New Roman" size="2">23(1) --&#9;&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consent
    of KPMG LLP, independent certified public accountants</font></p>
</blockquote>
<blockquote>
  <p><font size="2">23(2) --&#9;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consent
    of PricewaterhouseCoopers LLP, independent certified public accountants.</font></p>
</blockquote>
<FONT SIZE=2>
<p ALIGN="left">&nbsp;</p>
<B>
<P> </P>
<P ALIGN="RIGHT">EXHIBIT 4</P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">Pfizer Inc. </P>
<P ALIGN="CENTER">2001 Performance-Contingent Share Award Plan</P>
</B>
<P ALIGN="CENTER">&nbsp;</P>
<P><B>1. Purpose:&nbsp;</b>The 2001 Performance-Contingent Share Award Plan is
  designed to promote the retention of key employees, to compensate such employees
  based on the Company's achievement of corporate performance criteria and to
  optimize employee motivation. The Plan emphasizes long-term compensation values
  over short-term pay opportunities and encourages stock retention by the Company's
  key employees in the face of stock market fluctuations.</P>
<B>
<P>2. Definitions:</P>
</B> <B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a) </b>Committee - the Executive Compensation
Committee of the Board of Directors of Pfizer Inc.
<P><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b) </b>Company -&nbsp;Pfizer Inc. and its
  subsidiary companies.</P>
<P><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c) </b>Peer Group - an industry peer index
  compiled or revised by the Committee, as appropriate, that currently consists
  of the following companies: Abbott Laboratories, American Home Products Corp.,
  Baxter International Inc., Bristol-Myers Squibb Company, Colgate-Palmolive Co.,
  Johnson &amp; Johnson, Eli Lilly and Company, Merck and Co., Inc., Schering-Plough
  Corp. and Pharmacia Corp.</P>
<P><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d) </b>Performance-Contingent Shares - shares
  of Pfizer Inc. common stock that may be awarded under this Plan to eligible
  employees of the Company. For shares to be issued to any such employee, however,
  certain preestablished Company performance criteria must be met. </P>
<P><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;e) </b>Performance Period - The period for
  determining the Company's performance, which shall not be longer than five calendar
  years, nor shorter than two calendar years, as determined by the Committee.
  Interim phase-in periods apply to new participants and are designed to account
  for shorter Performance Periods within the initial five-year period. The interim
  phase-in awards shall provide for an award equal to the full five-year award
  multiplied by a fraction equal to the number of years of the phase-in divided
  by five (5) as follows: initial two-year period - 40% of awards; initial three-year
  period - 60% of awards; initial four-year period - 80% of awards; and a full
  five-year period - 100% of awards. However, the period for determining the Company's
  performance for the phase-in awards will commence at the beginning of the phase-in
  period. </P>
<P><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;f) </b>Plan - the 2001 Performance-Contingent
  Share Award Plan.</P>
<P><B>3. Eligibility:</b>&nbsp;The 100 highest ranking employees of the Company,
  as determined by grade or similar leveling structure, are eligible to be granted
  the opportunity by the Committee to earn Performance-Contingent Shares based
  upon the Company's achievement of predetermined corporate performance criteria.
  For any and all purposes under this Plan, the term &quot;employee&quot; shall
  not include a person hired as an independent contractor, leased employee, consultant
  or a person otherwise designated by the Company at the time of hire as not eligible
  to participate in or receive benefits under the Plan, even if such ineligible
  person is subsequently determined to be an &quot;employee&quot; by any governmental
  or judicial authority.</P>
<P><B>4. Participation:&nbsp;</b>The Committee shall select an eligible employee
  for participation under the Plan by delivering to such employee, prior to the
  start of the applicable Performance Period, an award letter that specifies the
  objective performance criteria and the number of Performance-Contingent Shares
  payable upon the attainment of such criteria. The award shall also be subject
  to such other terms and conditions as the Committee shall deem advisable or
  appropriate consistent with the provisions of the Plan as herein set forth.</P>
<P> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nothing in the Plan shall interfere with or
  limit in any way the right of the Company or any subsidiary to terminate any
  participant's employment at any time, nor confer upon any participant any right
  to continue in the employ of the Company or any subsidiary. No employee shall
  have the right to be selected to receive an award under this Plan or having
  been so selected, to be selected to receive a future award. Neither the award
  nor any benefits arising out of this Plan shall constitute part of a participant's
  employment contract with the Company or any subsidiary and, accordingly, this
  Plan and the benefits hereunder may be terminated at any time in the sole and
  exclusive discretion of the Company without giving rise to liability on the
  part of the Company or any subsidiary for severance payments. The awards under
  this Plan are not intended to be treated as compensation for any purpose under
  any other Company plan.</P>
<P><B>5. Award of Performance-Contingent Shares:</b>&nbsp;The total number of
  shares to be awarded under the Plan is limited to 12.5 million shares of Pfizer
  Inc. common stock. No eligible employee will be granted Performance-Contingent
  Shares for more than 500,000 shares of the Company's common stock for any Performance
  Period consisting of five years, or as adjusted ratably for interim phase-in
  awards in accordance with Section 2(e) of the Plan. Actual awards will generally
  be a fraction of the maximum and will be correlated with awards under the Company's
  stock option plan. The maximum number of Performance-Contingent Shares to be
  awarded will be determined by the Committee each year prior to the start of
  the Performance Period and shall be set forth in the award letter provided to
  each eligible employee. The Committee has no discretion to increase the maximum
  award to any participant who remains at the same grade or similar leveling structure
  throughout the Performance Period. However, notwithstanding the preceding sentence,
  should a participant's responsibilities within the Company change prior to the
  completion of a Performance Period, the corresponding award may be adjusted
  to reflect the new level of responsibilities in the Committee's sole and absolute
  discretion.</P>
<P><B>6. Determination of Corporate Performance Formula:</b>&nbsp;Awards of Performance-Contingent
  Shares are determined by a preestablished, non-discretionary formula comprised
  of two performance criteria - total shareholder return (including reinvestment
  of dividends) and diluted earnings per share - measured over the applicable
  Performance Period relative to the Peer Group. The targets under the performance
  formula shall be established by the Committee before the start of the Performance
  Period. The performance formula weighs each criterion equally. To the extent
  that the Company's performance exceeds the low end of the range of performance
  of the Peer Group in either or both of the performance criteria, a varying amount
  of shares up to the maximum will be earned, all as set forth in the award letter.
  Receipt of awards may be deferred by an employee participant in accordance with
  rules established by the Committee.</P>
<P><B>7. Administration of the Plan:&nbsp;</b>The Plan is administered by the
  Committee (consisting solely of three or more outside directors, within the
  meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended,
  who are also non-employee directors within the meaning of Rule 16b-3(b)(3)(i)
  of the Securities Exchange Act of 1934, as amended). In addition to preestablishing
  the targets under the performance formula and the number of shares awardable
  to each participant, the Committee must certify in writing prior to final payment
  of the shares that the performance criteria and other material terms of payment
  were, in fact, satisfied. The Committee shall make, in its sole discretion,
  all determinations arising in the administration, construction or interpretation
  of the Plan including the right to construe disputed or doubtful Plan terms
  and provisions, and any such determination shall be conclusive and binding on
  all persons, except as otherwise provided by law. </P>
<P><B>8. Termination of Employment:&nbsp;</b>If a Plan participant is not employed
  at the end of the Performance Period due to death, disability or termination
  of employment following a Change in Control, as defined under Pfizer's stock
  option plan, a determination of shares payable, if any, to the Plan participant
  or his or her estate will be made, as soon as practicable, on the basis of the
  Company's performance during the full calendar years of the Performance Period
  that elapsed before the employee's termination of employment. The number of
  Performance-Contingent Shares to be awarded shall be determined by multiplying
  the Performance-Contingent Shares otherwise awardable by a fraction, the numerator
  of which is the number of years completed during the Performance Period before
  termination of employment (whole or partial), and the denominator of which is
  the original length of the Performance Period. If a Plan participant is not
  employed at the end of the Performance Period due to retirement under one of
  the Company's retirement plans, an award pro-rated for the number of years and
  months he was employed during the Performance Period may be provided, in the
  Committee's sole and absolute discretion, shortly after the completion of the
  Performance Period. </P>
<P><B>9. Recapitalization:&nbsp;</b>In the event of any change in the number or
  kind of outstanding shares of common stock of the Company by reason of a recapitalization,
  merger, consolidation, reorganization, separation, liquidation, stock split,
  stock dividend, combination of shares or any other change in the corporate structure
  or shares of stock of the Company, an appropriate adjustment will be made, in
  accordance with applicable provisions of the Internal Revenue Code and Treasury
  Department rulings and regulations thereunder, in the number and kind of shares
  for which any awards may thereafter be granted both in the aggregate and as
  to each grantee, as well as in the number and kind of shares theretofore granted
  and the price or unit value payable. The Committee may adjust awards to preserve
  the benefits or potential benefits of the awards or otherwise in a manner not
  inconsistent with applicable provisions of the Code and regulations. Action
  by the Committee may include, without limitation: (i) adjustment of the number
  and kind of shares which may be delivered under the Plan; (ii) adjustment of
  the number and kind of shares subject to outstanding awards; and (iii) any other
  adjustments the Committee determines to be equitable. Any such determination
  shall be final and binding on all parties.</P>
<P><B>10. Amendment of Plan:&nbsp;</b>The Committee shall have the right to alter,
  amend or revoke the Plan or any part thereof at any time and from time to time,
  provided, however, the Committee may not, without the approval of the holders
  of a majority of the outstanding Common Stock, make any alteration or amendment
  to the Plan which increases the maximum number of shares of Common Stock which
  may be issued under the Plan or the number of shares of such stock which may
  be issued to any one participant.</P>
<P ALIGN="JUSTIFY"></P>
<B>
<P ALIGN="RIGHT">EXHIBIT 5</P>
</B>
<P ALIGN="JUSTIFY"></P>
<B>
<P ALIGN="CENTER">[LETTERHEAD OF MARGARET M. FORAN]</P>
</B>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">April 27, 2001<br>
</P>
<P ALIGN="JUSTIFY">Pfizer Inc.<br>
  235 East 42nd Street<br>
  New York, New York 10017-5755</P>
<P ALIGN="JUSTIFY">Pfizer Inc.:</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the Registration
  Statement on Form S-8 relating to 12,500,000 shares of Common Stock of Pfizer
  Inc. under the Pfizer Inc. 2001 Performance-Contingent Share Award Plan (the
  &quot;Plan&quot;), it is my opinion that:</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All necessary corporate proceedings
  have been taken to authorize the issuance of the shares under the Plan, and
  all such shares, upon issuance in accordance with the Plan, will be validly
  issued and outstanding and fully paid and non-assessable. </P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In preparing this opinion, I
  have examined certificates of public officials, certificates of officers and
  copies certified to my satisfaction of such corporate documents and records
  of the Company and such other documents as I have thought relevant and necessary
  as a basis for my opinion. I have relied on such certificates in connection
  with the accuracy of actual matters contained in such documents that were not
  independently established.</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I consent to the use of this
  opinion in the Registration Statement and to the reference to my name under
  the heading "Legal Opinion" in the Prospectus. In giving such consent, I do
  not admit that I come within the category of persons whose consent is required
  under Section 7 of the Securities Act of 1933, or the Rules and Regulations
  of the Securities and Exchange Commission.</P>
<DIR>
  <DIR>
    <DIR>
      <DIR>
        <DIR>
          <DIR>
            <DIR>
              <DIR>
                <DIR>
                  <DIR>
                    <DIR>
                      <DIR>
                        <P ALIGN="JUSTIFY">Very truly yours,</P>
                        <P ALIGN="JUSTIFY"></P>
                        <P ALIGN="JUSTIFY">&nbsp;</P>
                        <P ALIGN="JUSTIFY"><u>/s/ Margaret M. Foran</u></P>
                        <p ALIGN="JUSTIFY">MARGARET M. FORAN</p>
                        <p ALIGN="JUSTIFY">&nbsp;</p>
                      </DIR>
                    </DIR>
                  </DIR>
                </DIR>
              </DIR>
            </DIR>
          </DIR>
        </DIR>
      </DIR>
    </DIR>
  </DIR>
</DIR>
<B>
<P ALIGN="RIGHT">EXHIBIT 23(1)</P>
</B>
<P ALIGN="JUSTIFY"></P>
<B>
<P ALIGN="CENTER">CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS</P>
</B>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">To the Board of Directors of Pfizer Inc.:</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We consent to incorporation by
  reference in this registration statement on Form S-8 of our audit report dated
  February 22, 2001, on the consolidated balance sheets of Pfizer Inc. and Subsidiary
  Companies as of December 31, 2000, and 1999, and the related consolidated statements
  of income, shareholders' equity and cash flows for each of the three years in
  the period ended December 31, 2000, which report appears in the December 31,
  2000 Annual Report on Form 10-K of Pfizer Inc.</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P><u>&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;&#9;</u></P>
<DIR>
  <DIR>
    <DIR>
      <DIR>
        <DIR>
          <DIR>
            <DIR>
              <DIR>
                <DIR>
                  <DIR>
                    <DIR>
                      <DIR>
                        <P ALIGN="JUSTIFY"><u>/s/ KPMG LLP</u><br>
                          KPMG LLP</P>
                        <P ALIGN="JUSTIFY"></P>
                      </DIR>
                    </DIR>
                  </DIR>
                </DIR>
              </DIR>
            </DIR>
          </DIR>
        </DIR>
      </DIR>
    </DIR>
  </DIR>
</DIR>
<P ALIGN="JUSTIFY">New York, New York<br>
  April 27, 2001</P>
<P ALIGN="JUSTIFY"></P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="RIGHT">&nbsp;</P>
<B>
<P ALIGN="RIGHT">EXHIBIT 23(2)</P>
</B>
<P>&nbsp;</P>
<P>&nbsp;</P>
<B>
<P ALIGN="CENTER">CONSENT OF INDEPENDENT ACCOUNTANTS </P>
</B>
<P>&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We hereby consent to the incorporation
  by reference in this Registration Statement on Form S-8 of our report dated
  January 24, 2000, except for Note 6, as to which the date is February 7, 2000,
  relating to the financial statements of Warner-Lambert Company, not separately
  presented herein. This report is incorporated by reference in the Annual Report
  of Pfizer Inc. on Form 10-K for the year ended December 31, 2000.</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<DIR>
  <DIR>
    <DIR>
      <DIR>
        <DIR>
          <DIR>
            <DIR>
              <DIR>
                <DIR>
                  <DIR>
                    <DIR>
                      <DIR> <u>/s/ PricewaterhouseCoopers LLP</u><br>
                        PricewaterhouseCoopers LLP</DIR>
                    </DIR>
                  </DIR>
                </DIR>
              </DIR>
            </DIR>
          </DIR>
        </DIR>
      </DIR>
    </DIR>
  </DIR>
</DIR>
<P>Florham Park, NJ<br>
  April 27, 2001</P>
<P ALIGN="JUSTIFY"></P>
</FONT>
</BODY>
</HTML>
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{"company-data": {"conformed-name": "PFIZER INC", "cik": "0000078003", "assigned-sic": "2834", "irs-number": "135315170", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-59654", "film-number": "1612942"}, "business-address": {"street1": "235 E 42ND ST", "city": "NEW YORK", "state": "NY", "zip": "10017", "phone": "2125732323"}, "mail-address": {"street1": "235 E 42ND ST", "city": "NEW YORK", "state": "NY", "zip": "10017"}, "former-company": {"former-conformed-name": "PFIZER CHARLES & CO INC", "date-changed": "19710908"}}
Pfizer Inc. 2001 Performance-Contingent Share Award Plan Form S-8
As filed with the Securities and Exchange Commission on April
  27, 2001
Registration Statement No. 333- ____
SECURITIES AND EXCHANGE COMMISSION
450 5th Street N.W.
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
PFIZER INC.
(Exact name of Registrant as specified in its charter)
DELAWARE
13-5315170
(State of Incorporation)                                     
                                          
                				(I.R.S.
  Employer Identification No.)
235 EAST 42ND STREET
NEW YORK, NEW YORK 10017-5755
(Address of Principal Executive Offices)
PFIZER INC. 2001 PERFORMANCE-CONTINGENT SHARE AWARD PLAN
(Full Title of the Plan)
MARGARET M. FORAN, ESQ.
PFIZER INC.
235 EAST 42ND STREET
NEW YORK, NEW YORK 10017-5755
(Name and Address of Agent for Service)
(212) 733-4802
(Telephone Number of Agent for Service)
CALCULATION OF REGISTRATION FEE
Title of Securities to be Registered
Amount to be Registered
Proposed Maximum Offering Price Per Share
(1)
Proposed Maximum Aggregate Offering Price
(1)
Amount of Registration Fee
Common Stock, $.05 par value
(2)
12,500,000 shs.
$ 40.79
$ 509,875,000
$ 127,469
(1). Estimated to calculate the registration fee
  based on the average of the high and low prices of Pfizer Inc. Common Stock
  for New York Stock Exchange Composite Transactions on April 24, 2001, as reported
  in The Wall Street Journal.
(2). Includes Pfizer Preferred Stock purchase rights
  which, until events specified in Pfizer's Rights Agreement occur, will not be
  exercisable or evidenced separately from the Common Stock.
PART II.
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE
The following are incorporated by reference:
The Annual Report of Pfizer Inc. on Form 10-K for the year ended December
    31, 2000,
all other reports we filed under Sections 13(a) or 15(d) of the Securities
    Exchange Act of 1934,
the description of our common stock contained in our Registration Statement
    filed under Section 12 of the Securities Exchange Act of 1934, and any amendment
    or report filed to update such description.
All documents later filed by us under Section 13(a), 13(c),
  14, and 15(d) of the Securities Exchange Act of 1934, before we file a post-effective
  amendment that indicates all securities offered have been sold or which deregisters
  all securities that have not been sold, will be incorporated by reference and
  will be a part of this filing from the date that document was filed.
ITEM 4. DESCRIPTION OF SECURITIES
Not applicable.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL
The validity of the securities
  has been passed upon by Margaret M. Foran, Esq., Vice President and Assistant
  Secretary for the Company. Ms. Foran beneficially owns Common Stock and options
  to purchase Common Stock granted under the Pfizer Inc. Stock and Incentive Plan.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS
Section 145 of the General Corporation
  Law of Delaware permits a corporation to indemnify any person who is or has
  been a director, officer, employee or agent of the corporation or who is or
  has been serving as a director, officer, employee or agent of another corporation,
  organization or enterprise at the request of the corporation, against all liability
  and expenses (including, but not limited to, attorneys' fees and disbursements
  and amounts paid in settlement or in satisfaction of judgments or as fines or
  penalties) incurred or paid in connection with any action, suit or proceeding,
  whether civil, criminal, administrative, investigative or otherwise, in which
  he/she may be involved by reason of the fact that he/she served or is serving
  in these capacities, if he/she acted in good faith and in a manner he/she reasonably
  believed to be in or not opposed to the best interests of the corporation and,
  with respect to any criminal action or proceeding, had no cause to believe his/her
  conduct was unlawful. In the case of a claim, action, suit or proceeding made
  or brought by or in the right of the corporation to procure a recovery or judgment
  in its favor, the corporation shall not indemnify such person in respect of
  any claim, issue or matter as to which such person has been adjudged to be liable
  to the corporation for negligence or misconduct in the performance of his/her
  duty to the corporation, except for such expenses as the Court may allow. Any
  such person who has been wholly successful on the merits or otherwise with respect
  to any such claim, action, suit or proceeding or with respect to any claim,
  issue or matter therein, shall be indemnified as of right against all expenses
  in connection therewith or resulting therefrom.
Pursuant to Article V, Section
  1 of our By-Laws, we will indemnify directors and officers to the fullest extent
  permitted by applicable law as it presently exists or is amended. We are insured
  against actions taken under our By-Laws and our directors and officers are insured
  directly at our expense against such liabilities for which indemnification is
  not made. We have entered into agreements with our directors and certain of
  our officers requiring us to indemnify such persons to the fullest extent permitted
  by our By-Laws.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED
Not Applicable.
ITEM 8. EXHIBITS
EXHIBIT
4 --               	Pfizer
  Inc. 2001 Performance-Contingent Share Award Plan
5 --	              Opinion
  and Consent of Margaret M. Foran, Esq., Vice President and Assistant Secretary.
23(1) --	       Consent
  of KPMG LLP, independent certified public accountants.
23(2) --	       Consent
  of PricewaterhouseCoopers LLP, independent certified public accountants.
ITEM 9. UNDERTAKINGS
The Company undertakes:
to file, during any period in which offers or sales are being made, a post-effective
    amendment to this registration statement:
To include any prospectus required by Section 10(a)(3) of the Securities
      Act of 1933;
To reflect in the prospectus any facts or events arising after the effective
      date of the registration statement (or the most recent post-effective amendment)
      which, individually or in the aggregate, represent a fundamental change
      in the information set forth in the registration statement;
To include any material information about the plan of distribution not
      already disclosed in the registration statement or any material change to
      such information in the registration statement;
provided, however, that paragraphs (1)(i) and (1)(ii) do
    not apply if the registration statement is on Form S-3 or Form S-8 and the
    information required to be included in a post-effective amendment by those
    paragraphs is contained in periodic reports filed by the registrant pursuant
    to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that
    are incorporated by reference in the registration statement.
that, for purposes of determining any liability under the Securities Act
    of 1933, each such post-effective amendment shall be a new registration statement
    relating to the securities offered, and the offering of such securities at
    that time will be viewed as the initial bona fide offering.
to remove from registration by means of a post-effective amendment any of
    the securities being registered which remain unsold at the end of the offering.
that, for purposes of determining any liability under the Securities Act
    of 1933, each filing of the registrant's annual report pursuant to Section
    13(a) or Section 15(d) of the Securities Exchange Act of 1934 (and, where
    applicable, each filing of an employee benefit plan's annual report pursuant
    to Section 15(d) of the Securities Exchange Act of 1934) that is incorporated
    by reference in the registration statement will be a new registration statement
    relating to the securities offered, and the offering of such securities at
    that time shall be deemed to be the initial bona fide offering.
Insofar as indemnification for
  liabilities arising under the Securities Act of 1933 may be permitted to directors,
  officers and controlling persons of the registrant under the foregoing provisions,
  or otherwise, the registrant has been advised that in the opinion of the Securities
  and Exchange Commission such indemnification is against public policy as expressed
  in the Act and is, therefore, unenforceable. In the event that a claim for indemnification
  against such liabilities (other than the payment by the registrant of expenses
  incurred or paid by a director, officer or controlling person of the registrant
  in the successful defense of any action, suit or proceeding) is asserted by
  such director, officer or controlling person in connection with the securities
  being registered, the registrant will, unless in the opinion of its counsel
  the matter has been settled by controlling precedent, submit to a court of appropriate
  jurisdiction the question whether such indemnification by it is against public
  policy as expressed in the Act and will be governed by the final adjudication
  of such issue.
SIGNATURES
Under the requirements of
  the Securities Act of 1933, the Registrant has reasonable grounds to believe
  that it meets all of the requirements for filing on Form S-8 and has caused
  this Registration Statement to be signed on its behalf by the authorized signer
  in The City of New York, State of New York, on the 27th day of April, 2001.
Pfizer Inc.
Registrant
By:
/s/ C. L. Clemente
Dated: April 27, 2001                       C.
  L. Clemente,
Executive Vice President,
Secretary
  and Corporate Counsel
Under the requirements of the Securities
  Act of 1933, this Registration Statement was signed by the following persons
  on behalf of the Registrant in the capacities and on the dates indicated.
Signatures
Title
Date
/s/ William C. Steere, Jr.
(William C. Steere, Jr.)
Chairman of the Board and Director
(Principal Executive Officer)
April 27, 2001
/s/ Henry A. McKinnell
(Henry A. McKinnell)
Chief Executive Officer, President
and Director
(Principal Executive Officer)
April 27, 2001
/s/ David L. Shedlarz
(David L. Shedlarz)
Executive Vice President and Chief
Financial Officer (Principal Financial Officer)
April 27, 2001
/s/ Loretta V. Cangialosi
(Loretta V. Cangialosi)
Vice President - Controller (Principal Accounting Officer)
April 27, 2001
/s/ Michael S. Brown
(Michael S. Brown)
Director
April 27, 2001
/s/ M. Anthony Burns
(M. Anthony Burns)
Director
April 27, 2001
(Robert N. Burt)
Director
/s/ W. Don Cornwell
(W. Don Cornwell)
Director
April 27, 2001
/s/ William H. Gray, III
(William H. Gray, III)
Director
April 27, 2001
/s/ Constance J. Horner
(Constance J. Horner)
Director
April 27, 2001
/s/ William R. Howell
(William R. Howell)
Director
April 27, 2001
/s/ Stanley O. Ikenberry
(Stanley O. Ikenberry)
Director
April 27, 2001
/s/ Harry P. Kamen
(Harry P. Kamen)
Director
April 27, 2001
/s/ George A. Lorch
(George A. Lorch)
Director
April 27, 2001
/s/ Alex J. Mandl
(Alex J. Mandl)
Director
April 27, 2001
/s/ Dana G. Mead
(Dana G. Mead)
Director
April 27, 2001
/s/ John F. Niblack
(John F. Niblack)
Vice Chairman and Director
April 27, 2001
/s/ Franklin D. Raines
(Franklin D. Raines)
Director
April 27, 2001
/s/ Ruth J. Simmons
(Ruth J. Simmons)
Director
April 27, 2001
(Michael I. Sovern)
Director
/s/ Jean-Paul Valles
(Jean-Paul Valles)
Director
April 27, 2001
EXHIBIT INDEX
EXHIBIT
4 --	                    Pfizer
    Inc. 2001 Performance-Contingent Share Award Plan
5 --                   	Opinion
    and Consent of Margaret M. Foran, Esq., Vice President and Assistant Secretary.
23(1) --		            Consent
    of KPMG LLP, independent certified public accountants
23(2) --	            Consent
    of PricewaterhouseCoopers LLP, independent certified public accountants.
EXHIBIT 4
Pfizer Inc.
2001 Performance-Contingent Share Award Plan
1. Purpose:
The 2001 Performance-Contingent Share Award Plan is
  designed to promote the retention of key employees, to compensate such employees
  based on the Company's achievement of corporate performance criteria and to
  optimize employee motivation. The Plan emphasizes long-term compensation values
  over short-term pay opportunities and encourages stock retention by the Company's
  key employees in the face of stock market fluctuations.
2. Definitions:
a)
Committee - the Executive Compensation
Committee of the Board of Directors of Pfizer Inc.
b)
Company - Pfizer Inc. and its
  subsidiary companies.
c)
Peer Group - an industry peer index
  compiled or revised by the Committee, as appropriate, that currently consists
  of the following companies: Abbott Laboratories, American Home Products Corp.,
  Baxter International Inc., Bristol-Myers Squibb Company, Colgate-Palmolive Co.,
  Johnson & Johnson, Eli Lilly and Company, Merck and Co., Inc., Schering-Plough
  Corp. and Pharmacia Corp.
d)
Performance-Contingent Shares - shares
  of Pfizer Inc. common stock that may be awarded under this Plan to eligible
  employees of the Company. For shares to be issued to any such employee, however,
  certain preestablished Company performance criteria must be met.
e)
Performance Period - The period for
  determining the Company's performance, which shall not be longer than five calendar
  years, nor shorter than two calendar years, as determined by the Committee.
  Interim phase-in periods apply to new participants and are designed to account
  for shorter Performance Periods within the initial five-year period. The interim
  phase-in awards shall provide for an award equal to the full five-year award
  multiplied by a fraction equal to the number of years of the phase-in divided
  by five (5) as follows: initial two-year period - 40% of awards; initial three-year
  period - 60% of awards; initial four-year period - 80% of awards; and a full
  five-year period - 100% of awards. However, the period for determining the Company's
  performance for the phase-in awards will commence at the beginning of the phase-in
  period.
f)
Plan - the 2001 Performance-Contingent
  Share Award Plan.
3. Eligibility:
The 100 highest ranking employees of the Company,
  as determined by grade or similar leveling structure, are eligible to be granted
  the opportunity by the Committee to earn Performance-Contingent Shares based
  upon the Company's achievement of predetermined corporate performance criteria.
  For any and all purposes under this Plan, the term "employee" shall
  not include a person hired as an independent contractor, leased employee, consultant
  or a person otherwise designated by the Company at the time of hire as not eligible
  to participate in or receive benefits under the Plan, even if such ineligible
  person is subsequently determined to be an "employee" by any governmental
  or judicial authority.
4. Participation:
The Committee shall select an eligible employee
  for participation under the Plan by delivering to such employee, prior to the
  start of the applicable Performance Period, an award letter that specifies the
  objective performance criteria and the number of Performance-Contingent Shares
  payable upon the attainment of such criteria. The award shall also be subject
  to such other terms and conditions as the Committee shall deem advisable or
  appropriate consistent with the provisions of the Plan as herein set forth.
Nothing in the Plan shall interfere with or
  limit in any way the right of the Company or any subsidiary to terminate any
  participant's employment at any time, nor confer upon any participant any right
  to continue in the employ of the Company or any subsidiary. No employee shall
  have the right to be selected to receive an award under this Plan or having
  been so selected, to be selected to receive a future award. Neither the award
  nor any benefits arising out of this Plan shall constitute part of a participant's
  employment contract with the Company or any subsidiary and, accordingly, this
  Plan and the benefits hereunder may be terminated at any time in the sole and
  exclusive discretion of the Company without giving rise to liability on the
  part of the Company or any subsidiary for severance payments. The awards under
  this Plan are not intended to be treated as compensation for any purpose under
  any other Company plan.
5. Award of Performance-Contingent Shares:
The total number of
  shares to be awarded under the Plan is limited to 12.5 million shares of Pfizer
  Inc. common stock. No eligible employee will be granted Performance-Contingent
  Shares for more than 500,000 shares of the Company's common stock for any Performance
  Period consisting of five years, or as adjusted ratably for interim phase-in
  awards in accordance with Section 2(e) of the Plan. Actual awards will generally
  be a fraction of the maximum and will be correlated with awards under the Company's
  stock option plan. The maximum number of Performance-Contingent Shares to be
  awarded will be determined by the Committee each year prior to the start of
  the Performance Period and shall be set forth in the award letter provided to
  each eligible employee. The Committee has no discretion to increase the maximum
  award to any participant who remains at the same grade or similar leveling structure
  throughout the Performance Period. However, notwithstanding the preceding sentence,
  should a participant's responsibilities within the Company change prior to the
  completion of a Performance Period, the corresponding award may be adjusted
  to reflect the new level of responsibilities in the Committee's sole and absolute
  discretion.
6. Determination of Corporate Performance Formula:
Awards of Performance-Contingent
  Shares are determined by a preestablished, non-discretionary formula comprised
  of two performance criteria - total shareholder return (including reinvestment
  of dividends) and diluted earnings per share - measured over the applicable
  Performance Period relative to the Peer Group. The targets under the performance
  formula shall be established by the Committee before the start of the Performance
  Period. The performance formula weighs each criterion equally. To the extent
  that the Company's performance exceeds the low end of the range of performance
  of the Peer Group in either or both of the performance criteria, a varying amount
  of shares up to the maximum will be earned, all as set forth in the award letter.
  Receipt of awards may be deferred by an employee participant in accordance with
  rules established by the Committee.
7. Administration of the Plan:
The Plan is administered by the
  Committee (consisting solely of three or more outside directors, within the
  meaning of Section 162(m) of the Internal Revenue Code of 1986, as amended,
  who are also non-employee directors within the meaning of Rule 16b-3(b)(3)(i)
  of the Securities Exchange Act of 1934, as amended). In addition to preestablishing
  the targets under the performance formula and the number of shares awardable
  to each participant, the Committee must certify in writing prior to final payment
  of the shares that the performance criteria and other material terms of payment
  were, in fact, satisfied. The Committee shall make, in its sole discretion,
  all determinations arising in the administration, construction or interpretation
  of the Plan including the right to construe disputed or doubtful Plan terms
  and provisions, and any such determination shall be conclusive and binding on
  all persons, except as otherwise provided by law.
8. Termination of Employment:
If a Plan participant is not employed
  at the end of the Performance Period due to death, disability or termination
  of employment following a Change in Control, as defined under Pfizer's stock
  option plan, a determination of shares payable, if any, to the Plan participant
  or his or her estate will be made, as soon as practicable, on the basis of the
  Company's performance during the full calendar years of the Performance Period
  that elapsed before the employee's termination of employment. The number of
  Performance-Contingent Shares to be awarded shall be determined by multiplying
  the Performance-Contingent Shares otherwise awardable by a fraction, the numerator
  of which is the number of years completed during the Performance Period before
  termination of employment (whole or partial), and the denominator of which is
  the original length of the Performance Period. If a Plan participant is not
  employed at the end of the Performance Period due to retirement under one of
  the Company's retirement plans, an award pro-rated for the number of years and
  months he was employed during the Performance Period may be provided, in the
  Committee's sole and absolute discretion, shortly after the completion of the
  Performance Period.
9. Recapitalization:
In the event of any change in the number or
  kind of outstanding shares of common stock of the Company by reason of a recapitalization,
  merger, consolidation, reorganization, separation, liquidation, stock split,
  stock dividend, combination of shares or any other change in the corporate structure
  or shares of stock of the Company, an appropriate adjustment will be made, in
  accordance with applicable provisions of the Internal Revenue Code and Treasury
  Department rulings and regulations thereunder, in the number and kind of shares
  for which any awards may thereafter be granted both in the aggregate and as
  to each grantee, as well as in the number and kind of shares theretofore granted
  and the price or unit value payable. The Committee may adjust awards to preserve
  the benefits or potential benefits of the awards or otherwise in a manner not
  inconsistent with applicable provisions of the Code and regulations. Action
  by the Committee may include, without limitation: (i) adjustment of the number
  and kind of shares which may be delivered under the Plan; (ii) adjustment of
  the number and kind of shares subject to outstanding awards; and (iii) any other
  adjustments the Committee determines to be equitable. Any such determination
  shall be final and binding on all parties.
10. Amendment of Plan:
The Committee shall have the right to alter,
  amend or revoke the Plan or any part thereof at any time and from time to time,
  provided, however, the Committee may not, without the approval of the holders
  of a majority of the outstanding Common Stock, make any alteration or amendment
  to the Plan which increases the maximum number of shares of Common Stock which
  may be issued under the Plan or the number of shares of such stock which may
  be issued to any one participant.
EXHIBIT 5
[LETTERHEAD OF MARGARET M. FORAN]
April 27, 2001
Pfizer Inc.
235 East 42nd Street
New York, New York 10017-5755
Pfizer Inc.:
In connection with the Registration
  Statement on Form S-8 relating to 12,500,000 shares of Common Stock of Pfizer
  Inc. under the Pfizer Inc. 2001 Performance-Contingent Share Award Plan (the
  "Plan"), it is my opinion that:
All necessary corporate proceedings
  have been taken to authorize the issuance of the shares under the Plan, and
  all such shares, upon issuance in accordance with the Plan, will be validly
  issued and outstanding and fully paid and non-assessable.
In preparing this opinion, I
  have examined certificates of public officials, certificates of officers and
  copies certified to my satisfaction of such corporate documents and records
  of the Company and such other documents as I have thought relevant and necessary
  as a basis for my opinion. I have relied on such certificates in connection
  with the accuracy of actual matters contained in such documents that were not
  independently established.
I consent to the use of this
  opinion in the Registration Statement and to the reference to my name under
  the heading "Legal Opinion" in the Prospectus. In giving such consent, I do
  not admit that I come within the category of persons whose consent is required
  under Section 7 of the Securities Act of 1933, or the Rules and Regulations
  of the Securities and Exchange Commission.
Very truly yours,
/s/ Margaret M. Foran
MARGARET M. FORAN
EXHIBIT 23(1)
CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
To the Board of Directors of Pfizer Inc.:
We consent to incorporation by
  reference in this registration statement on Form S-8 of our audit report dated
  February 22, 2001, on the consolidated balance sheets of Pfizer Inc. and Subsidiary
  Companies as of December 31, 2000, and 1999, and the related consolidated statements
  of income, shareholders' equity and cash flows for each of the three years in
  the period ended December 31, 2000, which report appears in the December 31,
  2000 Annual Report on Form 10-K of Pfizer Inc.
/s/ KPMG LLP
KPMG LLP
New York, New York
April 27, 2001
EXHIBIT 23(2)
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation
  by reference in this Registration Statement on Form S-8 of our report dated
  January 24, 2000, except for Note 6, as to which the date is February 7, 2000,
  relating to the financial statements of Warner-Lambert Company, not separately
  presented herein. This report is incorporated by reference in the Annual Report
  of Pfizer Inc. on Form 10-K for the year ended December 31, 2000.
/s/ PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
Florham Park, NJ
April 27, 2001