1. Bear Stearns
Healthcare Conference
Jim Connolly
Executive Vice President and General Manager
Wyeth Vaccines
September 10, 2007

2. Forward-Looking Statement
The statements in this presentation that are not historical facts are forward-
looking statements based on current expectations of future events that involve
risks and uncertainties including, without limitation, risks associated with the
inherent uncertainty of pharmaceutical research, product development,
manufacturing, commercialization, economic conditions including interest and
currency exchange rate fluctuations, the impact of competitive or generic
products, product liability and other types of lawsuits, the impact of legislative
and regulatory compliance and obtaining approvals, and patent, and other risks
and uncertainties, including those detailed from time to time in Wyeth’s periodic
reports, including quarterly reports on Form 10-Q and the annual report on Form
10-K, filed with the Securities and Exchange Commission. Quarterly results, in
particular, can vary due to issues which include, but are not limited to, changes
in exchange rates, the timing of actions taken by the Company to ensure long-
term improvements to our manufacturing processes, the timing of regulatory
approval of new products and/or facilities and the timing of promotional
programs. Actual results may vary materially from the forward-looking
statements. The Company assumes no obligation to publicly update any
forward-looking statements, whether as a result of new information, future
events or otherwise.
2
jcBearStearns09102007_5

3. Key Messages
Wyeth is a leader in vaccines and very excited about
n
future prospects
Wyeth developed first “blockbuster” vaccine – Prevnar
n
- Success has changed view on potential
for vaccines
Major growth opportunities remain in pneumococcal
n
disease area – infants and adults
Strong, innovative pipeline comprised of significant
n
first- or best-in-class opportunities
3

4. Poised for Significant Growth
Strong Significant
Business Growth
Characteristics Opportunities
•Long product •Unmet medical needs
life cycles •New technologies
•High barriers to entry •Emerging markets
•100+ year history of
innovation
•Prevnar – 1st blockbuster
vaccine
•Exciting R&D pipeline
Wyeth Position 4
jcBearStearns09102007_5

5. Prevnar – Outstanding Efficacy Profile
…and adults
…in children
(from herd immunity)
Average Incidence of Vaccine Serotype
(>50 Years of Age)
90 35
Prelicensure Prelicensure
80
IPD per 100,000 Population
Estimated Cases/100,000
30
(1998-1999) (1998-1999)
70 Postlicensure Postlicensure
25
(2003) (2002-2003)
60
20
50
55%
40 15
Reduction
30
10
20 94%
Reduction 5
10
0 0
Average for 1998 2003 Average for 1998 2003
and 1999 and 1999
WHO SAGE Recommendation:
WHO SAGE Recommendation:
“Recognizing the burden of pneumococcal disease occurring in young children and
“Recognizing the burden of pneumococcal disease occurring in young children and
the safety and efficacy of PCV-7 in this age group, WHO considers that it should be
the safety and efficacy of PCV-7 in this age group, WHO considers that it should be
aapriority to include this vaccine in the national immunization programmes…”
priority to include this vaccine in the national immunization programmes…”
MMWR. 2005;Vol: 54(No. 36):893-897.
5
jcBearStearns09102007_5

6. Prevnar – Strong Global Growth
First Half 2007 Growth Current Status
Registered Countries 89
United States $578 +13%
Launched Countries 84
EMEA 508 +50%
Current National
Latin America 94 +118% 16
Programs
Asia Pacific 69 +24% National Programs
6
Announced*
TOTAL $1,249 +31%
* Includes Ireland, Denmark, Cyprus, New Zealand, Costa Rica and Peru
6

7. Prevnar – Growth Potential
x
Double Sales by 2010 2009
• New Launches
$4
• NIPs
• Compliance/Catch-up $3 B +
• Emerging Markets
$3
Sales ($ Billions)
$2
$1.5 B
$1
$0
2005A 2009E
Source: Wyeth internal sales data, 2007
7

8. Prevnar – Redefining The Possible
Total Market
Potential
$6.0 B
Emerging Markets
Total
Emerging/Developing
Potential
$3.5 B
Total
Developed Market
Potential
$2.5 B
Prevnar 2006
$2.0 B
Prevnar
Penetration:
Penetration: Prevnar
33%
73% Penetration:
4%
8

9. Promising Pipeline
Market Opportunity
Phase 3
13v Infant
Phase 3
13v Adult
$35
$30 B +
PCV Infant PCV Adult
Mng B Phase 2
$30 Mng B S aureus
ACC-001
Phase 2
(Alzheimers $25 GAS HIV
Therapeutic)
Sales ($B)
HCV Alzheimer's
$20
Phase 1
HIV / AIDS
$15
Group A Strep Pre-clin.
$10
Staph Aureus Pre-clin.
$5
Hepatitis C
Pre-clin. $2 B
Therapeutic
$0
2006 Sales Future Market
Opportunity
9

10. Prevnar 13 – Expanding the Coverage
• Provide broadest coverage available
for the global protection of children
Opportunity
against pneumococcal disease
• Phase 2 proof of concept achieved
• Licensing criteria agreed upon
Status • Worldwide phase 3 studies
ongoing
• Submission early 2009
> $3 Billion
Peak Sales
10

11. Prevnar – 7v vs. 13v Achieved Proof of
Concept – Phase 2 Infant Study
% Subjects Achieving Correlate of Protection
100
% subjects > 0.35 ug/ml
75
50
25
0
4 6B 9V 14 18C 19F 23F 1 3 5 6A 7F 19A
PCV7 PCV13 11

12. Emerging Pneumococcal Serotype Profile
Pre & Post Prevnar Serotypes
Superior Coverage in the U.S. in US Children <2
7v vs 10v vs 13v Serotype Coverage
1998-1999 Serotypes 2003
Comparison – U.S. PCV7
23F
7v 10v 13v
19F
18C
14
Pre-Prevnar® (1998) 81%
9V
6B
Post-Prevnar (2003) 17% 4
22% 60%
7F
5
Prevnar has greatly reduced serious disease caused
1
by the 7 vaccine-associated serotypes
19A
A 10v vaccine provides only marginal additional
6A
coverage
3
13v PnC will provide substantial coverage in
70 60 50 40 10 0 20 30 40 50
30 20 0 10
the U.S. and superior coverage in other
Cases of IPD
countries
Source: CDC data
12

13. Prevnar 13 – Expanding to Adults
Provide first and only conjugate
n
vaccine that offers adults, age 50
and above, an opportunity to
Opportunity
prevent pneumococcal pneumonia
for the rest of their lives
Proof of concept achieved
n
Licensing criteria agreed upon
n
Status Worldwide phase 3 studies
n
ongoing
Submission late 2009
n
Peak Sales > $1.5 Billion
13

14. Adult Pneumococcal Vaccine Opportunity
Cases of Invasive Pneumococcal Disease (IPD) U.S. Population (2010)
65+ -- 40.2 Million
Cases per 100,000
50
50-64 -- 58.4 Million
40
30
20
IPD
10
0
<1 1 2 to 4 5 to 17 18 to 34 35 to 49 50 to 64 65+
Non-bacteremic
Deaths per 100,000
10
Pneumonia
9
8
7
6
5
4
3
2
1
0
<1 1 2 to 4 5 to 17 18 to 34 35 to 49 50 to 64 65+
Source: CDC data
14

15. Redefine Adult Opportunity
Prevnar 13
23 v Polysaccharide Prevnar 13
23 v Polysaccharide
Potential Profile
Current Profile Potential Profile
Current Profile
Antibody titers and efficacy Superior antibody
decline after 5 years1 responses
Induces hyporesponsiveness2 No hyporesponsiveness and
boostable
No demonstrated efficacy Opportunity to demonstrate
vs. pneumonia in elderly effectiveness in pneumonia
Generally recommended Extend age range of
for adults 65+ protection to 50+
1 Shapiro, et al, NEJM 1991
2 Torling, et al, Vaccine 2003
15

16. Meningococcal Group B Vaccine
% Incidence By Group Medical Need
Devastating disease that
n
causes meningitis and sepsis
High mortality ~ 10-15%
n
Serious sequelae in 20-30%
n
of survivors
Occurs endemically and in
n
outbreaks
US EU
No global vaccine available for
n
Group B Meningitis
Market potential: > $4 B
B C Y W A Other n
*Source: Prevention and Control of Meningococcal Disease, Recommendations of the Advisory Committee on
Immunization Practices (ACIP), May 27, 2005 / 54(RR07);1-21, MMWR. EU-IBIS meningococcal data - 2004
16

17. Group B Meningococcal (MngB) Program
In-house discovery of MngB surface protein
n
(LP 2086) covering > 90% of Group B isolates
Vaccine candidate appears safe and immunogenic
n
in Phase 1 trials (Adults)
Phase 1 / 2 in adolescents and toddlers / infants
n
ongoing
Initiated discussions on regulatory pathway
n
17

18. Summary and Conclusions
Wyeth is a leader in vaccines and very excited about
n
future prospects
Wyeth developed first “blockbuster” vaccine – Prevnar
n
- Success has changed view on potential
for vaccines
Major growth opportunities remain in pneumococcal
n
disease area – infants and adults
Strong, innovative pipeline comprised of significant
n
first- or best-in-class opportunities
18