(Drug Creation Process: Learn and Confirm, a new Paradigm for Clinical Development at Wyeth) Pharmaceuticals - a knowledge driven industry:

Pharmaceuticals happen to be one of the most extremely 'Knowledge Driven' industries that is always in a state of change. Human, animal, and environmental health remains the topmost interest of the society. Diversities in life form and infections render grave challenges to the formulation of particular and targeted solutions. Drug discovery is an elaborate process needing almost a decade at a cost of 300 million U.S. dollars to get a new drug to the market. Hence the long waiting period in between 'learning', knowledge generation' and its changeover to 'value added knowledge' requires the building of Proprietary Knowledge' that is of immense value in setting up and maintaining a worldwide creative gesture. One of our major competitors Merck and Co holds expertise in medicinal preparations & chemistry of N-Heterocyclics liquid crystalline materials having saturated or unsaturated non-aromatic rings. Novartis, our next competitor is a global leader in chemistry of N-based hetrocyclics, carbohydrates, proteins, peptides, and other diverse condensed ring systems. Besides, they have leadership position in fermentation as also enzyme-based processes for preparation of organic compounds, tissue culture and a minor business in recombinant DNA technology (Global Pharmaceutical Industry: Intellectual Wealth and Asset Protection)

Product Life Cycle Management -- a sunrise business process for pharmaceutical industry:

The global pharma industry is seeing speedy progression in processes and technology and computerization is coming to hold a vital constituent part in majority of the manufacturing processes. Due to rigid regulatory standards and rising costs, pharma companies prefer to hand over their manufacturing processes to Contract Manufacturing Organization -- CMOs as a part of outsourcing so as to enhance productivity. (Global Pharmaceutical Contract Manufacturing Markets) a new domain that is arrived on the shores of pharmaceutical, and I am sure that Wyeth will immensely benefit from this which is Product Life Cycle Management -- PLM which aligns with the pharma industry's business processes. PLM deals with the challenges of managing a group of hundreds of drug candidates, from a collection of different R&D facilities and manufacturing plants across the world. Augmenting to the business drivers for investing in PLM is the mounting pressure by the regulatory agencies that stresses on adherence to ensure drug safety. (Pharma product lifecycle management gains momentum)

Thanking you,

Yours truly,

ABC

Senior Consultant,

Pharmaceutical and Biogenics

Exhibit -I

Financial Highlights

Items

Year Ended December 31 in thousands except per share amounts)

Net Revenue

Net Income

Diluted Earnings per share

Dividends per Common share

Total Assets

Stockholders Equity

Exhibit -II

Selected Financial Data

Dollar amounts in thousands except per share amounts)

Year Ended December 31, 2006 2005 2004 2003

Net revenue $20,350,655 $18,755,790 $17,358,028 $15,850,632

Research and development expenses 3,109,060 2,749,390 2,460,610 2,093,533

Net income 4,196,706 3,656,298 1,233,997 2,051,192

Diluted earnings per share 3.08 2.70 0.91 1.54

Dividends per common share 1.01 0.9400 0.9200 0.9200

Capital expenditures 1,289,784 1,081,291 1,255,275 1,908,661

Total assets $36,478,715 $35,841,126 $33,629,704 $31,031,922

Number of common stockholders 47,314 50,648 54,301 59,181

Number of employees at year end 50,060 49,732 51,401 52,385

Wages and salaries $3,488,510 $3,434,476 $3,280,328 $3,003,555

Company Data by Reportable Segment

In millions)

Year Ended December 31, 2006 2005 2004 2003

Net Revenue from Customers

Pharmaceuticals $16,884.2 $15,321.1 $13,964.1 $12,622.7

Consumer Healthcare 2,530.2-2,553.9-2,557.4-2, 434.5

Animal Health 936.3 880.8 836.5 793.4

Consolidated total $20,350.7 $18,755.8 $17,358.0 $15,850.6

Income (Loss) before Income Taxes

Pharmaceuticals $5,186.4 $4,544.9 $4,040.1 $3,798.5

Consumer Healthcare 516.2 574.3 578.6 592.4

Animal Health 163.7 139.4 134.8 127.4

Corporate (436.4) (478.0) (4,883.3) (2,156.7)

Consolidated total $5,429.9 $4,780.6...

103.1 104.8 102.3-92.3
Dimetapp 81.7-80.4-87.8-85.2

Alavert 49.8-49.5-56.0-81.6

Advil Cold & Sinus 61.0 122.4 129.7 134.7

Solgar -- 58.5 105.5 105.1

Total Consumer Healthcare $2,530.2 $2,553.9 $2,557.4 $2,434.5

Animal Health

Livestock products $405.5 $377.2 $351.0 $329.2

Companion animal products 283.9 257.8 252.6 226.7

Equine products 135.5 138.2 138.2 147.2

Poultry products 111.4 107.6-94.7-90.3

Total Animal Health $936.3 $880.8 $836.5 $793.4