EXHIBIT 99.1

                                                           FOR IMMEDIATE RELEASE

WARNER-LAMBERT
Media Contact:                                     Investor Relations Contact:
Carol Goodrich (973) 540-3620                      George Shields (973) 540-6916
                                                   John Howarth   (973) 540-4874

AGOURON
Media Contact:                                      Investor Relations Contact:
Joy Schmitt (619) 622-3220                          Donna Nichols (619) 622-3009



                WARNER-LAMBERT AND AGOURON PHARMACEUTICALS, INC.
                       CLOSE MERGER VALUED AT $2.1 BILLION


MORRIS PLAINS, NJ, & LA JOLLA, CA, May 17, 1999 - Warner-Lambert  Company (NYSE:
WLA) and Agouron Pharmaceuticals, Inc. (Nasdaq: AGPH), today confirmed that they
have received the necessary shareholder and regulatory approvals to complete the
closing  of  Warner-Lambert's   acquisition  of  Agouron.  Agouron  shareholders
overwhelmingly supported the merger with over 98 percent of the total votes cast
voting for its approval.  Valued at $2.1 billion in  Warner-Lambert  stock,  the
transaction will be non-dilutive to Warner-Lambert's future earnings,  accounted
for as a pooling of interests and qualify as a tax-free exchange.

         Under the terms of the acquisition,  each share of Agouron common stock
will be exchanged for 0.8934 share of Warner-Lambert  common stock. The exchange
ratio was based on the average closing price of Warner-Lambert common stock from
April  30  to  May  13,  1999.  Agouron   shareholders   holding  Agouron  stock
certificates will receive written  instructions for exchanging such certificates
for Warner-Lambert common shares on or about May 26, 1999.

         Lodewijk  J.R. de Vink,  Warner-Lambert  chairman,  president and chief
executive officer,  said, "The closing of this acquisition  represents a new era
for  Warner-Lambert  and is further  evidence of our  commitment to maintain our
position among the fastest growing companies in the pharmaceutical  industry. As
we said in January,  this acquisition is consistent with our long-term  strategy
to supplement our internally  generated growth with creative alliances.  We look
forward to working  closely  with our new  colleagues  from Agouron and together
shaping a common  destiny of scientific  excellence in the pursuit of critically
needed new therapies."

         Peter Johnson,  Agouron's  president and CEO said, "We are pleased that
Agouron's  shareholders  concurred  with  our  Board  in  concluding  that  this
transaction  will maximize our long-term  ability to bring forward new drugs for
patients and will enhance our  capabilities  to gain global reach in development
and commercialization of our products. This is particularly important to us with
several new product launches  anticipated in the next few years.  Warner-Lambert
and Agouron now have the ability to meld our scientific strengths and, together,
enhance our drug discovery capabilities."

         Warner-Lambert   is  a  worldwide   company   devoted  to  discovering,
developing, manufacturing, and marketing quality pharmaceutical, consumer health
care, and confectionery products. Warner-Lambert employs more than 40,000 people
worldwide.

         Agouron,  a wholly owned subsidiary of  Warner-Lambert  Company,  is an
integrated  pharmaceutical  company  engaged in the discovery,  development  and
commercialization of drugs for treatment of cancer, viral diseases, and diseases
of the eye. Agouron employs more than 1000 people of whom  approximately 700 are
engaged in research and development.

         This  press   release  may  contain   forward-looking   statements   or
predictions.  These  statements  represent  our judgment as of this date and are
subject to risks and  uncertainties  (including those associated with regulatory
approvals and the impact of  competitive  products)  that could cause the actual
results to differ  materially.  Important  factors  concerning  these  risks are
discussed  in  Agouron's  Form 10-K for the fiscal  year ended June 30, 1998 and
Warner-Lambert's  Form  10-K/A  for the  fiscal  year ended  December  31,  1998
currently  on file with the  Securities  and  Exchange  Commission.  Agouron and
Warner-Lambert  undertake no  obligation  to publicly  release the result of any
revisions to such forward-looking statements which may be made to reflect events
or  circumstances  after  the  date  hereof  or to  reflect  the  occurrence  of
unanticipated events.
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