Robert EssnerChairman and Chief Executive Officer

Merrill Lynch Global Merrill Lynch Global Pharmaceutical, Biotechnology Pharmaceutical, Biotechnology & Medical Device Conference& Medical Device Conference

February 7, 2007February 7, 2007

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.

2006 Was An Excellent Year for Wyeth

n 9% Revenue Growth

n Operating Income Increased 24%

n Pro Forma Diluted EPS Increased 14%

n Six Billion Dollar or Multi Billion Dollar Franchises

n 15 New Projects Moved Into Development Track

n Filed Six Registrations for Four New Drugs

Wyeth Delivers Strong Profit Growth

10%

7%

11%

14%

0%

2%

4%

6%

8%

10%

12%

14%

2003 2004 2005 2006

*Before Certain Significant Items

EPS* Growth

Wyeth Delivers Strong Profit Growth

10%

7%

11%

14%

0%

2%

4%

6%

8%

10%

12%

14%

2003 2004 2005 2006 2007

*Before Certain Significant Items

EPS* Growth

Guidance

11% to 8%