<b>Recent Biotech Buyouts</b> [Added Archemix-NTMD deal at the bottom of table; the premium is subjective according to what one thinks Archemix (a private co.) is worth.]<pre> <b>Acquired Premium Deal iHub <u>Company</u> <u>Buyer</u> <u>to Market</u> <u>Value</u> <u>Date</u> <u>Reference</u></b> GNLB GSK 465% $57M 10/08 <a href='read_msg.asp?message_id=33209281'>#msg-33209281</a> KOSN BMY 233% $190M 5/08 <a href='read_msg.asp?message_id=29647147'>#msg-29647147</a> COLY PFE 167% $165M 11/07 <a href='read_msg.asp?message_id=24600805'>#msg-24600805</a> IOMI Intercell 147% $190M 5/08 <a href='read_msg.asp?message_id=29232165'>#msg-29232165</a> BTRX Stiefel 136% $150M 6/08 <a href='read_msg.asp?message_id=30201906'>#msg-30201906</a> SGXP LLY 119% $64M 7/08 <a href='read_msg.asp?message_id=30547648'>#msg-30547648</a> ENCY PFE 118% $350M 2/08 <a href='read_msg.asp?message_id=26978155'>#msg-26978155</a> TRCA Ipsen 104% $660M 6/08 <a href='read_msg.asp?message_id=29795183'>#msg-29795183</a> CRY.to MDT 97% $380M 9/08 <a href='read_msg.asp?message_id=32421462'>#msg-32421462</a> Speedel NVS 94% $880M 7/08 <a href='read_msg.asp?message_id=30588524'>#msg-30588524</a> SIRT GSK 85% $620M 4/08 <a href='read_msg.asp?message_id=28705020'>#msg-28705020</a> Ventana Roche 72% $3.4B 1/08 <a href='read_msg.asp?message_id=30912677'>#msg-30912677</a> Jerini Shire *71% $520M 7/08 <a href='read_msg.asp?message_id=30452872'>#msg-30452872</a> Acambis SNY 64% $550M 7/08 <a href='read_msg.asp?message_id=30990498'>#msg-30990498</a> SCRX Shionogi 61% $1.4B 9/08 <a href='read_msg.asp?message_id=31859174'>#msg-31859174</a> MEDI AZN ‡‡53% $15.2B 4/07 <a href='read_msg.asp?message_id=19020387'>#msg-19020387</a> MLNM Takeda 53% $8.8B 4/08 <a href='read_msg.asp?message_id=28365383'>#msg-28365383</a> PCOP LGND ***52% $75M 9/08 <a href='read_msg.asp?message_id=32404474'>#msg-32404474</a> IMCL LLY †††51% $6.5B 10/08 <a href='read_msg.asp?message_id=32662830'>#msg-32662830</a> LEVP VPHM ††49% $440M 7/08 <a href='read_msg.asp?message_id=30704409'>#msg-30704409</a> PHRM CELG 46% $2.9B 11/07 <a href='read_msg.asp?message_id=24645394'>#msg-24645394</a> BRL TEVA **42% $9.0B 7/08 <a href='read_msg.asp?message_id=30792830'>#msg-30792830</a> MOGN Eisai 39% $3.9B 12/07 <a href='read_msg.asp?message_id=25163775'>#msg-25163775</a> CGPI Galderma 30% $420M 2/08 <a href='read_msg.asp?message_id=28286522'>#msg-28286522</a> APPX Fresenius †29% $940M 7/08 <a href='read_msg.asp?message_id=30498388'>#msg-30498388</a> Zentiva SNY ‡‡26% $2.6B 9/08 <a href='read_msg.asp?message_id=32327005'>#msg-32327005</a> ARI.to Roche ‡15% $190M 7/08 <a href='read_msg.asp?message_id=30904056'>#msg-30904056</a> NTMD Archemix *‡n/a *‡n/a 11/08 <a href='read_msg.asp?message_id=33656969'>#msg-33656969</a> *‡Premium is subjective according to what one thinks Archemix (a private co.) is worth. *199% premium to volume-weighted price during preceding 3 months. **Premium based on 7/16/08 close; $9B price includes assumption of debt. ***Premium excludes 0.50/sh contingency. †Premium reaches 63% if earn-out met. ††Premium reaches 103% if earn-out met; base price subject to collar. †††Premium relative to 7/30/08 close, the day before BMY announced first buyout offer. ‡Number is misleading inasmuch as Arius announced in May 2008 that it was pursued by an unnamed suitor. ‡‡Premium relative to commencement of bidding.</pre>