This document provides a summary of media coverage of the global pharmaceutical industry in 2007. It analyzes coverage of major companies, issues, and executives. Key findings include bleak coverage of sector job losses, pipeline gaps, and falling profits. Coverage of CEOs focused on restructuring announcements from leaders of large companies. The generics industry and regulatory scrutiny also received significant attention. Overall, 2007 news suggested most major drug companies struggled with challenges including upcoming patent expirations and increased competition.

1. Dow Jones Insight Global Pharmaceutical
FPO – cover not final
Media Analysis
© Copyright 2008 Dow Jones and Company, Inc.

2. Table of Contents
Introduction and Report Overview …………………………… 3
Global Players and Competetitive Trends…………………… 4
CEO Coverage…………………………………………………….. 12
Industry Issue Analysis…………………………………………. 18
Summary…………………………………………………………… 23
Methodology………………………………………………………. 24
About Dow Jones Insight……………………………………….. 25
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3. Dow Jones Insight Media Analysis Report
This report was created using Dow Jones Insight’s media analysis platform
to highlight media interest in the global pharmaceutical industry. It is
intended as a sample only, as client engagements are customized and
based on even more detail, depth and focus.
Our analysis discusses the bleak news coverage in 2007 and deals with
issues such as: sector job losses, pipeline gaps, threats from the generics
industry, tumbling sector profits, drugs withdrawals and some drugs
passing muster with increasingly tough global industry regulators.
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4. Section I: Global Players and Competitive Trends
© Copyright 2008 Dow Jones and Company, Inc.

5. Competitive Trends | Company Analysis Part 1
Merck Q2 profits up 12% and sales 13%; strong
GSK – ‘Avandia sales of cholesterol, cervical cancer and diabetes
increases risks drugs; Schering-Plough JV powering ahead
of heart attacks’
Pfizer losing
controversy
10,000 jobs
Merck Q3 profits up 62%;
worldwide
FDA backs Isentress;
Januvia and Gardasil selling
better than expected
Merck – Vioxx lawsuit
settlement proposal limit set
at $4.85 billion
Pfizer turns off the taps on
its Exubera insulin drug; Q3
down 77% on associated
charges; rumours mount
that Pfizer planning to buy
Sanofi
Pfizer results down GSK – Andrew Witty to replace
Merck Q1 18% – ‘sick man of JP Garnier; GSK taking U.S.
profits up the industry’ patent office to court over
restrictions
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6. Competitive Trends | Company Analysis Part 2
Sanofi-Aventis – Novartis net rises 11% in Q1, driven by strong sales of hypertension and
generics dent Q4 profit cancer drugs; takes charge on Zelnorm; sells Gerber food business to Nestle
Novartis – Q2 profits up but
cuts sales outlook; shares
downgraded on ‘prospects,’
but Sandoz generic drugs
units sees double-digit
growth
AstraZeneca – Buys MedImmune ($16 billion) vaccines company to plug Sanofi-Aventis – to invest
pipeline, investors worry it has overpaid; declares 11% rise in pretax profits $70 million in China flu
for Q1 but takes $83 billion charge on heart drug trials failure vaccine plant; class action
over Zimulti; L’Oreal cuts
stake
Sanofi-Aventis – Plavix patent ruling in Roche $3 billion takeover AstraZeneca – faces patent battle in U.S.
favour but Zimulti diet drug rejected by bid for Ventana Medical over Crestor; pretax profits down 14%;
FDA Systems cutting inventory to lift concerns
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7. Competitive Trends | Analysis by Content Type
Merck – caps Vioxx payouts;
cholesterol, cervical cancer and
diabetes drugs sell well
GSK – Andrew Witty to take over at
the top announced in autumn;
Cervarix cancer vaccine FDA delay
at end of year
Pfizer – 10,000 job losses, hit by
generics and expiring patents
AstraZeneca – filling pipeline holes
through headline-making
acquisitions
Novartis – sales up but Indian patent litigation
and Zelnorm withdrawal worries leading to
2,500 job cuts announced at year end
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8. Competitive Trends | Share of Voice by Region
Pfizer – Losing Chinese ‘Viagra’
patent name ‘Wei Ge’ case; in
talks to spin off Japanese R&D
unit
AstraZeneca – To invest $100
million in Chinese R&D facility;
major restructuring and cost
cutting in Europe
Roche – Holds off generic Plavix
patent challenge but remains
subject of takeover speculation
All the European-based companies show a less-than-20% media footprint in the U.S. market
Sanofi, Roche and Novartis have heavy European footprints (close to 60%) – strength in one place
suggests an obvious growth path in another for the Europeans (the U.S.)
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9. Competitive Trends | Share of Voice by Country
A company’s ‘home turf’ reflects
the dominance and extent of
country-by-country coverage it
receives:
Novartis/Roche = Switzerland
GSK/AstraZeneca = UK
Others = U.S.
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10. Competitive Trends | Top Publications Part 2
Top 3 AstraZeneca Publications Top 3 Eli Lilly Publications
The Guardian 361 Indianapolis Star 377
Il Giornale 264 Kommersant - Ukraine 222
El País 211 Basler Zeitung 177
Top 3 Merck Publications Top 3 Roche Publications
El País 286 Basler Zeitung 345
Frankfurter Rundschau 276 Il Giornale 257
The Wall Street Journal 271 Neue Zürcher Zeitung 248
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11. Competitive Trends | Top Publications Part 2
Top 3 Novartis Publications
Basler Zeitung 817
Neue Zürcher Zeitung 497
Finanz und Wirtschaft 403
Top 3 Pfizer Publications
El País 300
The Wall Street Journal 273
Kommersant - Ukraine 224
Top 3 Sanofi Publications
Les Echos 498
El País 301
Le Figaro 254
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12. Section II: CEO Coverage
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13. CEO Coverage | Trend Analysis Part 1
Daniel Vasella considers reactivating share buyback
programme, denies acquisition talks, attacked over pay and on
single versus dual role
David Brennan takes lead of
additional 4,600 job cuts
announced as pretax profits for Q2
tumble by 10% and MedImmune
buy completes
Daniel Vasella announces job
cuts, says Q1 in ’08 will be
negative in the U.S.
Humer announces sales up 16%, David Brennan pitches in as EU
David Brennan cuts 3,000 jobs and says Roche will broaden investor patent office revokes patent on
rules out large takeover base in Russia, Middle East and Asia Symbicort anti-asthma drug
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14. CEO Coverage | Trend Analysis Part 2
With Garnier due to retire in May ‘08, the battle for a successor is finally concluded
when head of European pharmaceuticals Andrew Witty is named as next CEO
Jeff Kindler’s plan to cut
10,000 jobs at Pfizer shakes
the industry and the company
to the core
Kindler announces $2.8
billion write-down on insulin
drug Exubera as it is pulled
John Lechleiter announced as
successor to Sidney Taurel
starting in May ‘08
‘Integrity will be my legacy,’ says GSK’s Dr. Garnier
(The Times: 02/04/08)
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15. CEO Coverage | Analysis by Content Type
The strongest hands-on
CEOs are both at Swiss
companies
GSK’s Garnier stands out as a
‘transnational’ figure in 2007
BMS’s Cornelius rewarded
for handling transition from
sacked Peter Dolan to
defending BMS against
generics
Two French leaders figure among the less
prominent – suggesting there is a cultural ‘drift’
toward a certain style of leadership
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16. CEO Coverage | Analysis by Region
Humer, Vasella, Dehecq
and Le Fur have continental
Europe profiles in excess of
70% of their total coverage
and tiny profiles in North
America
Garnier, Brennan and
Kindler are the only three
leaders with strong profiles
on both sides of the Atlantic
© Copyright 2008 Dow Jones and Company, Inc. Proprietary and Confidential | 16

17. CEO Coverage | Analysis by Country
Given the importance of the Roche mid-summer bid for Ventana Medical, it is surprising
we did not see more of Franz Humer in the U.S. media
The Humer, Vasella,
Dehecq and Le Fur bias is
shown to primarily reflect
coverage in French and
Swiss media
The Clark, Taurel, Cornelius
and, to a lesser degree,
Kindler U.S. bias is brought
out in this chart
Garnier and Brennan have
solid exposure on both sides
of the Atlantic
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18. Section III: Industry Issue Analysis
© Copyright 2008 Dow Jones and Company, Inc.

19. Issue Analysis | Share of Voice - Global
Pfizer - under fire in Nigeria and losing patent protection on Norvasc
AstraZeneca – under patent
attack over No. 3 drug
Crestor; Nexium and
Seroquel cases due in 2008
Eli Lilly – class action on
antipsychotic drug Zyprexa
Roche – loses patent lawsuit
on Mircera anemia drug to
Amgen
Merck - outstanding Vioxx Novartis - Indian patent
litigation costs capped in Sept court case woes
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20. Issue Analysis | Share of Voice - Europe
Novartis’ issues with Galvus approval and Zelnorm withdrawal cause higher figures
Merck ends promising HIV
vaccine tests
Eli Lilly boosts R&D in
Singapore, Argentina and
Korea
GSK secures big U.S. flu Both Pfizer and AstraZeneca’s year feature heavy job cuts across both companies
vaccine contract
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21. Issue Analysis | Share of Voice - Asia Pacific
Roche – loses patent
lawsuit on Mircera anemia
drug to Amgen
AstraZeneca commits to
invest in R&D in Korea,
Japan and China
Eli Lilly announces R&D
investment in regional
powerhouses Singapore and
Korea
Novartis gets caught at the wrong end of a nine-month court case in India
leading to 1 in 4 of all stories reflecting badly on the company
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22. Issue Analysis | Share of Voice - North America
Coverage regarding the U.S. FDA
represents somewhere between
one-in-six to one-in-three of all
pharmaceutical news stories in the
U.S. marketplace
© Copyright 2008 Dow Jones and Company, Inc. Proprietary and Confidential | 22

23. Summary | Looking Back at 2007
With many of the largest drug companies reporting full-year results in January 2008, it is clear
that few were showing little signs of escaping their big-picture problems. These include
upcoming patent expirations, rising competition from generic drug makers, low R&D
productivity and a lack of new revenue drivers, spreading legal challenges and increased
government scrutiny of drug safety and marketing practices. These factors have long weighed
on drug makers' stock. In addition, the U.S. presidential election in November it is likely to
keep pressure on the sector as the price of healthcare again becomes a political focus in the
world's largest drugs market.
One positive for the sector is that during January some investors and analysts started
highlighting that drugs companies, despite their problems, have at least maintained relatively
strong balance sheets, solid near-term earnings visibility underpinned by share buybacks,
limited exposure to a consumer downturn in the U.S. and good cash flow.
One small blot on the immediate horizon, European Union investigators have targeted
companies in several countries, as the bloc's antitrust watchdog launched a wide investigation
of potentially anticompetitive practices in the industry. AstraZeneca, GlaxoSmithKline,
Sanofi-Aventis, and Pfizer said they were among the companies contacted.
© Copyright 2008 Dow Jones and Company, Inc. Proprietary and Confidential | 23

24. Report Methodology
Overview
The findings in this complimentary report summarize the results of a Dow Jones Insight text-mining
platform. Our system gathers relevant content from more than 10,000 global traditional media
sources plus social media sources including Websites, blogs and message boards.
The Dow Jones Insight Media Lab consultants then review the results to produce a report with
summary charts and analysis. This study analyzed coverage from the Dow Jones Factiva global
media set unless otherwise specified.
Media Set
Press releases were excluded from this analysis by the exclusion of all “paid-for” wire services,
except where stated otherwise. Datamonitor Profiles, News and Comment and Premium Research
Reports were also excluded to ensure a high relevancy of the underlying data set. Routine General
News and Republished News were also excluded.
Search construction
Search strings used for investigating products, terms, market issues and individuals were
constructed using Dow Jones Factiva’s predetermined codes unless otherwise noted.
Reporting Period
January 1, 2007 through December 31, 2007
© Copyright 2008 Dow Jones and Company, Inc. Proprietary and Confidential | 24

25. About Dow Jones Insight
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