Three Months Ended Six Months Ended
June 30 June 30
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2000 1999 2000 1999
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Net Sales .................................................. $3,370,153 $3,259,211 $6,723,331 $6,572,531
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Cost of products sold ...................................... 1,530,254 1,415,188 3,026,701 2,868,204
Research and development ................................... 361,592 317,903 682,959 587,400
Selling, general and administrative ........................ 728,943 693,664 1,459,247 1,379,144
Gain on sale of business ................................... (92,203) -- (138,507) --
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Total Operating Cost and Expenses ..................... 2,528,586 2,426,755 5,030,400 4,834,748
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Operating Earnings ......................................... 841,567 832,456 1,692,931 1,737,783
Net interest expense ....................................... 11,090 21,716 23,124 47,568
Income from TAP Pharmaceutical Products Inc. joint venture . (117,571) (96,336) (236,485) (167,905)
Net foreign exchange (gain) loss ........................... 1,439 (2,078) 2,280 18,481
Other (income) expense, net ................................ 7,976 13,355 16,123 15,086
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Earnings Before Taxes ................................. 938,633 895,799 1,887,889 1,824,553
Taxes on earnings .......................................... 253,431 250,824 509,730 510,875
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Net Earnings ............................................... $ 685,202 $ 644,975 $1,378,159 $1,313,678
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Basic Earnings Per Common Share ............................ $ 0.44 $ 0.42 $ 0.89 $ 0.86
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Diluted Earnings Per Common Share .......................... $ 0.44 $ 0.41 $ 0.88 $ 0.84
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Cash Dividends Declared Per Common Share ................... $ 0.19 $ 0.17 $ 0.38 $ 0.34
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Average Number of Common Shares Outstanding
Used for Basic Earnings Per Common Share ................. 1,549,864 1,535,397 1,548,941 1,533,808
Dilutive Common Stock Options .............................. 16,509 23,304 13,999 24,205
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Average Number of Common Shares Outstanding
Plus Dilutive Common Stock Options ....................... 1,566,373 1,558,701 1,562,940 1,558,013
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Outstanding Common Stock Options Having No Dilutive Effect . 19,575 2,808 19,575 2,808
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