Exhibit 99




|For immediate release: | Contact:      
|---------------------- | --------------
|June 26, 2006          | Paul Fitzhenry
|                       | (212) 733-4637

> **PFIZER REACHES AGREEME****NT TO SELL
>       ITS CONSUMER HEALTHCARE BUSINESS TO JOHNSON & JOHNSON FOR $16.6 BILLION**
>       **- - - 
>       Company Will Use After-Tax Proceeds to Invest in New Products and Innovative
>       Technologies and Enhance Shareholder Returns
>       - - - 
>       Pfizer Now Expects to Purchase up to 
>       $17 Billion in Stock in 2006-7**
>       - - - **CEO McKinnell: “We Have Taken Another Important Step to Create
>       Value for Our Shareholders While Transforming Our Company”
>       - - -
>       Consumer Healthcare Colleagues “Have Done a Superb Job in Building
>       an Outstanding Business”**
>     NEW YORK, June 26 –- Pfizer Inc said today that it has reached a
>       definitive agreement to sell its Pfizer Consumer Healthcare (PCH) business
>       to Johnson & Johnson for $16.6 billion in cash, resulting in about $13.5
>       billion in after-tax proceeds.
>     The agreement, approved by the Pfizer Board of Directors, completes a review
>       of strategic options for the consumer business that Pfizer initiated in
>       February.
>     “By obtaining excellent value for our consumer business, we have
>       taken another important step to create value for our shareholders while
>       transforming our company,” said Pfizer Chairman and Chief Executive
>       Officer Hank McKinnell. “We will now be in an even stronger position
>       to capitalize on the many opportunities we see in our core pharmaceuticals
>       business, as well as enhance returns to our shareholders. With the net proceeds
>       from this sale, plus projected cash flow from ongoing operations over the
>       next 30 months (net of capital expenditures and dividends) totaling approximately
>       $34 billion, we will focus on our key priorities: leveraging our internal
>       research and development and strong pipeline of new medicines; continuing
>       to acquire products and technology that will drive long-term growth of the
>       business; and improving shareholder returns through actions such as the
>       share purchase program we are announcing today.”
>     Pfizer now expects that during 2006 and 2007 it will purchase up to $17
>       billion of the Company’s common stock. This includes up to $7 billion
>       in 2006 and up to $10 billion in 2007, and reflects an increase in the company’s
>       share purchase authorization from $5 billion in June 2005 to $18 billion,
>       which has been approved by Pfizer’s Board of Directors. As a result
>       of its expanded share purchase activity, Pfizer expects the PCH divestiture
>       to be non-dilutive to earnings in 2007 and accretive in 2008.
>     “Because of the high level of interest, we were able to accelerate
>       our timetable for unlocking value and capitalizing on the strong market
>       for global consumer franchises,” said Pfizer Vice Chairman David Shedlarz.
>       “We will use the proceeds to both invest in our future and build value
>       today. To drive long-term growth, for example, we have acquired products,
>       product candidates and technologies in priority areas such as Alzheimer’s
>       disease, diabetes, obesity and infectious diseases in just the last 12 months.
>     “The expansion of our share purchase program reflects our conviction
>       that Pfizer stock at current levels is a compelling investment opportunity.
>       We will also continue to support strong dividend growth. We will maintain
>       a disciplined approach and use our cash flow opportunistically to create
>       and sustain value for our shareholders,” Shedlarz said. 
>       Pfizer Consumer Healthcare had revenue of $3.9 billion in 2005. Its portfolio
>       of well-known global brands includes Listerine, Nicorette, Sudafed, Benadryl
>       and Neosporin.
>     Dr. McKinnell added, “We carefully evaluated a range of options for
>       Consumer Healthcare. The value we have obtained reflects the hard work of
>       our colleagues, who have done a superb job in building an outstanding business.
>       We wish them success and thank them for their dedication. We will do everything
>       we can to ensure a smooth transition.”
>     Pfizer expects to close the transaction by year-end. The transaction is
>       subject to customary closing conditions, including regulatory approvals.
>     Lazard and Bear Stearns & Co. Inc. advised Pfizer on the transaction.
>       Cadwalader, Wickersham & Taft provided legal counsel.
>     # # # # #
>     *DISCLOSURE NOTICE: The information contained in this release is as
>       of Monday, June 26, 2006. The Company assumes no obligation to update any
>       forward-looking statements contained in this release as a result of new
>       information or future events or developments.*
>     *This release contains forward-looking information about the sale of
>       the Company’s Consumer Healthcare business and the use of the sale
>       proceeds as well as the Company’s stock-purchase plans and projected
>       cash flow from operations. Such information involves substantial risks and
>       uncertainties, including the satisfaction of the conditions to closing the
>       sale, including regulatory approvals, and the risks and uncertainties set
>       forth in the Company’s Annual Report on Form 10-K for the fiscal year
>       ended December 31, 2005 and in its reports on Form 10-Q and 8-K.*