424B3 1 f424b3_012704-pharmaceutical.txt PROSPECTUS SUPPLEMENT - PHARMACEUTICAL PROSPECTUS SUPPLEMENT Filed Pursuant to Rule No. 424(b)(3) (To Prospectus dated July 7, 2003) REGISTRATION NO. 333-92161 333-95805 [PHARMACEUTICAL HOLDRS LOGO] 1,000,000,000 Depositary Receipts Pharmaceutical HOLDRS (SM) Trust This prospectus supplement supplements information contained in the prospectus dated July 7, 2003 relating to the sale of up to 1,000,000,000 depositary receipts by the Pharmaceutical HOLDRS (SM) Trust. The share amounts specified in the table on page 11 of the base prospectus shall be replaced with the following:
Share Primary Name of Company Ticker Amounts Trading Market ------------------------------------ ------ ------- -------------- Abbott Laboratories ABT 14 NYSE Allergan, Inc. AGN 1 NYSE Andrx Corporation-Andrx Group ADRX 2 NASDAQ Advanced Medical Optics, Inc. AVO 0.222222 NYSE Biovail Corporation BVF 4 NYSE Bristol-Myers Squibb Company BMY 18 NYSE Eli Lilly & Company LLY 10 NYSE Forest Laboratories, Inc. FRX 4 NYSE IVAX Corporation IVX 1.875 AMEX Johnson & Johnson JNJ 26 NYSE King Pharmaceuticals, Inc. KG 4.25 NYSE Medco Health Solutions MHS 2.6532 NYSE Merck & Co., Inc. MRK 22 NYSE Mylan Laboratories, Inc.(1) MYL 2.25 NYSE Pfizer Inc. PFE 58 NYSE Schering-Plough Corporation SGP 14 NYSE Valeant Pharmaceuticals(2) VRX 1 NYSE Watson Pharmaceuticals, Inc. WPI 1 NYSE Wyeth WYE 12 NYSE Zimmer Holdings, Inc. ZMH 1.8 NYSE
--------------- (1) Mylan Laboratories Inc. announced a 3-for-2 stock split on its common stock payable to shareholders of record as of September 30, 2003. As of October 15, 2003 the share amount of Mylan Laboratories Inc. represented by a round lot of 100 Pharmaceutical HOLDRS was 2.25. (2) As of November 14, 2003, ICN Pharmaceuticals Inc., an underlying constituent of Pharmaceutical HOLDRS, changed its name to Valeant Pharmaceuticals. As of November 14, 2003, 1 share of Valeant Pharmaceuticals was included in each round-lot of 100 Pharmaceutical HOLDRS. The share amounts listed in the table above reflect all previous stock splits, dividends and business combination transactions. The date of this prospectus supplement is December 31, 2003.