Welcome to the th Annual BIO CEO 14 & Investor Conference

Alan F. Eisenberg
Executive Vice President Biotechnology Industry Organization (BIO)

2012 Advisory Committee

Erin Brubaker, VP, WWBD Alliance Management and Head of the AM Centre of Excellence, GlaxoSmithKline Pharmaceuticals John Chambers, Managing Director and Head of Healthcare Investment Banking, Roth Capital Partners Annette Grimaldi, Managing Director, BMO Capital Markets

Michael Hay, Vice President/Product Manager, Sagient Research Systems

Michael G. King, Jr., Managing Director and Senior Biotechnology Analyst, Rodman & Renshaw, LLC Peter Kolchinksky, PhD, Portfolio Manager, RA Capital Management, LLC James S.J. Manuso, PhD, MBA, CEO, Astex Pharmaceuticals Evan McCulloch, Portfolio Manager, Franklin Templeton Ronald C. Renauld Jr.President and Chief Executive Officer, Idenix Pharmaceuticals Stephen Sands, Vice Chairman of US Investment Banking and Global Co-Head of Healthcare, Lazard Mark Schoenebaum, Senior Biotech Analyst, ISI Group Nathan P. Tinker, PhD, Executive Director, New York Biotechnology Association

Supporting Bank Sponsors

BIO Double Helix Sponsors

BIO Helix Sponsors

Local Co-Host

Conference Sponsors

A Comeback For FDA Approvals

31 New Drug Approvals In 2011& Several More In 2012
Kalydeco (Vertex) Cystic Fibrosis Erivedge (Roche/Curis) Basal Cell Carcinoma Inlyta (Pfizer) Renal Cell Carcinoma
2012

2 Drugs Approved With Companion Diagnostics: Xalkori (Pfizer) NSCLC Zelboraf (Daiichi Sankyo/Plexxikon/Roche) Metastatic Melanoma Adcetris (Seattle Genetics) Lymphoma/Hodgkins Yervoy (BMS) -- Melanoma

Stock Performance Of US Biotechs, 2011

NBI +11%
Acquired or bankrupt since 2007
New issues since 2007

Median -25%

Actively traded since 2007

Source: BIO Industry Analysis, FactSet

2011

Stock Performance Of US Biotechs, YTD

NBI +14%
New issues since 2007

Median +12% Average +29%

Actively traded since 2007

Acquired or bankrupt since 2007

2012 YTD (as of Feb 10th)

Source: BIO Industry Analysis, FactSet

Majority Of Investors Still Think It Is A Good Time To Invest In Biotech

Investors More Focused On Early Stage, Taking Greater Risk On Less Liquid Cos

Autoimmune & Oncology Seen As The Most Attractive Areas To Invest

Investors Expect MORE Biotech IPOs In 2012

25
20 23
US IPOs

17 12 3

# IPOs

15 10 5 0 1

2007 2008 2009 2010 2011

This presentation may contain forward-looking statements. Actual results may differ materially from such forward-looking statements as a result of various factors involving uncertainties and risks that vary from company to company. The specific uncertainties and risks pertaining to individual publicly-traded companies at this conference should be reviewed in each companys Form 10-K report and other such documents filed with the Securities and Exchange Commission. Some companies may be clients of the Conference sponsors or members of BIO.

Opening Plenary: Picks and Pans The Buy-Side View for 2012
Moderator:

Stephen Sands - Vice Chairman of US Investment Banking and Global Co-Head of Healthcare, Lazard
Panelists:

Alexander J. Denner, PhD - (former) Managing Director, Icahn Associates

Rajiv Kaul - Portfolio Manager Fidelity Select Biotechnology Portfolio, Fidelity Greg Martinez - Portfolio Manager, Diamondback Capital Management LLC Deepa R. Pakianathan, PhD - General Partner, Delphi Ventures