Acquired         Premium    Deal         iHub  
 Company  Buyer   to Market  Value  Date  Reference  
 KOSN     BMY       233%     $190M  5/08  #msg-29647147 
 COLY     PFE       167%     $165M 11/07  #msg-24600805 
 IOMI     Intercell 147%     $190M  5/08  #msg-29232165  
 BTRX     Stiefel   136%     $150M  6/08  #msg-30201906 
 SGXP     LLY       119%     $64M   7/08  #msg-30547648 
 ENCY     PFE       118%     $350M  2/08  #msg-26978155 
 TRCA     Ipsen     104%     $660M  6/08  #msg-29795183  
 Speedel  NVS        94%     $880M  7/08  #msg-30588524 
 SIRT     GSK        85%     $620M  4/08  #msg-28705020  
 Ventana  Roche      72%     $3.4B  1/08  #msg-30912677 
 Jerini   Shire     *71%     $520M  7/08  #msg-30452872 
 Acambis  SNY        64%     $550M  7/08  #msg-30990498 
 Shionogi SCRX       61%     $1.4B  9/08  #msg-31859174 
 MEDI     AZN      ‡‡53%     $15.2B 4/07  #msg-19020387 
 MLNM     Takeda     53%     $8.8B  4/08  #msg-28365383 
 LEVP     VPHM     ††49%     $440M  7/08  #msg-30704409 
 PHRM     CELG       46%     $2.9B 11/07  #msg-24645394      
 BRL      TEVA     **42%     $9.0B  7/08  #msg-30792830 
 MOGN     Eisai      39%     $3.9B 12/07  #msg-25163775  
 CGPI     Galderma   30%     $420M  2/08  #msg-28286522 
 APPX     Fresenius †29%     $940M  7/08  #msg-30498388 
 ARI.to   Roche     ‡15%     $190M  7/08  #msg-30904056 
  
 *199% premium to volume-weighted 
 price during preceding 3 months. 
  
 **Premium based on 7/16/08 close;  
 $9B price includes assumption of debt. 
  
 †Premium reaches 63% if earn-out met. 
  
 ††Premium reaches 103% if earn-out met; 
 base price subject to collar. 
  
 ‡Number is misleading inasmuch as Arius announced in 
 May 2008 that it was pursued by an unnamed suitor. 
  
 ‡‡Premium relative to 4/11/07 close; MEDI 
 announced intention to be sold on 4/12/07.