Quest Diagnostics is the leading provider of diagnostic testing, information and services. It touches over 150 million patient lives each year through comprehensive and innovative diagnostic testing services. The company aims to be the undisputed world leader in diagnostic testing, information and services through a strategy focused on delivering superior patient experiences, leading medical innovation, leveraging assets and capabilities, expanding diagnostic scope and geographic reach. Quest reported returning to earnings growth in the first half of 2008 and its focus for 2008/2009 is on margin expansion, earnings growth, integrating recent acquisitions and reducing costs.

1. UBS Global Life Sciences Conference
September 24, 2008

2. Who is Quest Diagnostics?
•Leader in Providing Healthcare Insights and Solutions
• Comprehensive Diagnostic Testing
• Routine ——» Esoteric
Diagnose
•
Monitor
•
Predict
•
Prevent
•
–Advanced Information Technology Solutions
• Improve Care and Efficiency
–Facilitate Introduction of New Therapeutics
• Clinical Trials Testing
–Innovative Diagnostic Products
• Enable Care Closer to the Patient
–Risk Assessment Solutions to Life Insurance Industry
Touching Patients ~150 Million Times Each Year
Patients | Growth | People
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3. The Leader in Diagnostic Testing
• U.S. Diagnostic Testing Market: ~ $50 B
$ in millions
Patients | Growth | People
Source: Washington G-2 Reports and company information
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4. Favorable Industry Trends
Essential Healthcare Service
• Growing and Aging Population
• Scientific & Medical Innovations
• Personal Interest in Health
• Convergence of Information
Influences >70% of Healthcare Decisions
Patients | Growth | People
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5. Moving to Higher Growth,
Higher Margin Segments
2000 Revenue 2007 Pro Forma Revenue
Total Revenue: $3.4 Billion Total Pro Forma Revenue: $7.0 Billion
Patients | Growth | People
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6. Expanding Market Leadership
2008
2000
• Clinical Testing • •
• Gene-based & Esoteric Testing • •
• Employer Services • •
• Anatomic Pathology Testing •P •
• Risk Assessment Services •- •
• Healthcare Information Technology •- •
• Point of Care (Near Patient) Testing •- •
• Clinical Trials Testing •P •P
• International Market •- •P
Overall Market Leader/Niche Leadership
P Market Participant Patients | Growth | People
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7. Our Goals
•Undisputed World Leader in Diagnostic Testing,
Information and Services
•Profitably Grow > Industry Rate
•Expand Operating Income to 20%
•Expand International Operations to ~10% of Revenues
Patients | Growth | People
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8. Strategy to Drive Profitable Growth
Sustainable Competitive Advantage
Deliver Superior Patient Experience
Continuously Drive Six Sigma Quality
Lead in Medical Innovation/Information
Leverage Unparalleled Assets & Capabilities
Expand Diagnostic Scope
Expand Geographic Reach
Patients | Growth | People
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9. Delivering Superior Patient Experience
Patient Gold Standards
Prompt, caring, courteous service
PSC Appointment Scheduling
Only laboratory with appointment scheduling at PSCs
Reduces patient wait time; improves convenience
Google Health Collaboration
Facilitate patient-physician communications
Secure electronic access to lab results
Patients | Growth | People
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10. Leading Medical Innovator
Multiple Channels to Access New Technology
Internal Development – Nichols Institute
Joint Development Relationships
Licensing/Distribution Relationships
Focused on Addressing Areas of Significant Patient Need
Cancer, Cardiovascular Conditions, Infectious Disease
Less invasive; less painful; more convenient for patients
Leading Experts for Medical Consultation
900 MDs & PhDs
Culture of Collaborative Innovation
Academic relationships
Investment in innovative firms and technologies
Partnerships with pharmaceutical companies
Patients | Growth | People
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11. Continual Stream of
Diagnostic Testing Advances
Cancer Transplantation/Coagulation
– LeumetaTM – HLA FDA-registered lab
– HE-4 – Coag consultations
– H/I Breast Recurrence New Technologies/New Applications
– Cancer of Unknown Primary
– XSenseTM (Fragile X)
Cardiovascular Disease – ClarisureTM (CGH Microarray)
– Ion Mobility (Lipid Profile) – LC/MS for Amino Acids
Infectious Disease – LC-MS/MS
– HepaScoreTM Personalized Medicine
– Chikungunya
Patients | Growth | People
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12. Enabling Personalized and
Targeted Medicine
Enables More Appropriate Drug Therapy
Rituxan® Rituxan® Sensitivity (CD20)
Herceptin® Her2
Campath® Campath Sensitivity (CD2)
Irinotecan UGT1A1
Warfarin CYP450 2C9
Carbamazephine HLA - screens out certain Asian patients
Abacavir HLA - predisposition to hypersensitivity
Aspirin Monitor personal resistance levels
Improves Disease Management
Leumeta™ CellSearch
Hepascore™
Improving Patient Care …..Reducing Medical Costs
Patients | Growth | People
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13. Unparalleled Assets and Capabilities
Patients | Growth | People
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14. Unique Brands and Services for
Each Customer Type
Physicians Hospital
Physician Life Insurers
Hospitals Hospital Physician
Employers
International
Physicians
Point of care for: Hospital Lab Pharmaceutical
Hospitals Hospitals
Hospital Bedside Companies
Physicians
Blood Banks Other provider groups
Patients | Growth | People
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15. Expanding Diagnostic Scope
Near Patient Testing
Opportunity to Improve Patient Care
Attractive benefits for hospitals,
physician offices and
international markets
Enables more timely and
effective decisions
Expanding product menu
Platform technology
Results integrated into Care360
Reducing Medical Costs
Patients | Growth | People
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16. Expanding Geographic Reach
Broadening Our Geographical Coverage
Clear leadership in U.S….with room to grow
Leverage existing labs in Puerto Rico, Mexico, and UK
Increase foreign testing sent to Nichols Institute
Exploit point of care distribution network in 130 countries
Entering India – serving multiple markets
Increasing Market Opportunity
Patients | Growth | People
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17. India. . . An Untapped Opportunity
1 Billion People and Emerging Economic Power
300 million people in middle class
Expanding consumerism
Increased Incidence of Chronic Disease
Diabetes: 17% (among the highest in the world)
Hypertension: 51% of adults
Hyperlipidemia
Cancer: ~1 million new cases each year
Infectious diseases: 1000 deaths/day from Tuberculosis
Expanding interest in early detection, prevention and treatment
Highly fragmented diagnostic testing market
Patients | Growth | People
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18. Reducing Costs by $500 Million
Leverage Lean Six Sigma to Improve Efficiency
Streamline Lab Operations
Optimize Logistics Routes
and PSC Resources
Improve Billing and Call
Center Operations
Leverage Purchasing
Capabilities
Maintain Service Levels & Stimulate Growth
Patients | Growth | People
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19. 2008 Q2 YTD Results
Returning to Earnings Growth
$3.6 B, ↑ 14.4%
Revenues
16.2%, ↑ 1.3%
Operating Income
↑~21%
EPS $1.55,
Cash from Operations $371 million
Investing to Drive Superior Growth
Patients | Growth | People
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20. 2008 / 2009 Focus
Margin Expansion and Earnings Growth
• Drive Top-Line Growth
• Integrate AmeriPath
• Reduce Costs by $500 Million
• Expand International and Products Businesses
Excellence in Execution
Patients | Growth | People
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21. Building on Strength
Leader in a vital and growing industry
Strong cash generator, with a strong balance sheet
Uniquely positioned with unparalleled assets & capabilities
History of disciplined growth and successful acquisitions
Proven management team
Focused on Execution
Patients | Growth | People
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22. Patients | Growth | People
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