WyethWyeth

UBS Global Life Sciences UBS Global Life Sciences ConferenceConference

Greg NordenSenior Vice President and Chief Financial Officer

September 25, 2007

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Forward-Looking Statement

The statements in this presentation that are not historical facts are forward-looking statements based on current expectations of future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include risks associated with the inherent uncertainty of the timing and success of product research, development and commercialization (including with respect to the NDA filings for Wyeth’s pipeline products referenced in this presentation), drug pricing and payment for Wyeth’s products by government and third-party payers, manufacturing, data generated on the safety and efficacy of Wyeth’s products, the impact of competitive or generic products, trade buying patterns, global business operations, product liability and other types of litigation, the impact of legislation and regulatory compliance, intellectual property rights, strategic relationships with third parties, environmental liabilities, and other risks and uncertainties, including those detailed from time to time in Wyeth’s periodic reports filed with the Securities and Exchange Commission, including Wyeth’s current reports on Form 8-K, quarterly reports on Form 10-Q and annual reports on Form 10-K, particularly the discussion in Wyeth’s 2005 annual report on Form 10-K under the caption "Item 1A, Risk Factors." Wyeth assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise.

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+12%+13%$1.84$0.90

Diluted Earnings Per Share

29%30%Tax Rate+20%+18%Operating Profit+10%+11%R&D Expense+2%+2%SG&A Expense

73.4%73.7%Gross Margin+10%+10%Net Revenue

YTD 20072Q 2007

*Adjusted to Exclude Certain Significant Items. See Press Release Issued July 19, 2007

Wyeth Performance: 2nd Quarter and Six Months 2007 - Key Financial Elements*

4(in millions)

$0 $200 $400 $600 $800 $1,000 $1,200 $1,400

Rapamune

BMP-2

BeneFIX

Premarin

Zosyn

Alliance Rev.

Nutritionals

Protonix

Prevnar

Effexor

Enbrel

+3%

+17%

+19%

+25%

+22%

+7%

+22%

-1%

+3%

+4%

$1.3B

$977 M

$633 M

$550 M

$358 M

$355 M

$280 M

$267 M

$95 M

$89 M

$823 M (Amgen) $508 M (Wyeth)

$81 M -10%

Strong Performance In 2Q07

1st Half 2007 PharmaRevenue +11%

Marketed Products

Biotech Revenues +28%

in 1H07

Biotech Now Represents 37% of Total Pharma

Revenues

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2007 Guidance*

• Pro Forma EPS +11% to +13%• Revenue Growth Mid to High Single Digit• Gross Margin 72% to 74%• SG&A Increase at a Significantly Lower Rate than Revenue• R&D Growth Mid Single Digit• Tax Rate 27% to 29%

• Continue to Grow the Bottom Line at a Meaningfully Faster Rate Than Revenue Growth

Efforts Continue to Contain Cost Structure While Allowing Support of Key Brands and R&D

* Excludes Certain Significant Items

Raised Pro Forma EPS Guidance on 7/19/07 to $3.48 to $3.56

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2006 Wyeth’s Leadership Positions

#1 Antidepressant

#1 RA & Psoriasis Biologic

#1 Vaccine

#1 I.V. Antibiotic

#1 Infant Formula (In Markets Where We Compete)

#1 HT

#1 Hemophilia B

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Enbrel is One of the Ten Best-Selling Pharmaceutical Products in 13 Countries

Source: C&MI, IMS Midas Global Data MAT 2Q07

Countries Where Enbrel is Ranked In the Top Ten In Terms of Sales

(MAT 2Q07)

Enbrel is Ranked #1 in Sweden, Norway and Germany

Enbrel is Ranked in the Top 10 in:U.K. DenmarkGreece BelgiumLuxembourg SpainU.S. FinlandIreland Netherlands

Enbrel is Ranked #6 Globally and #4 In Europe

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Enbrel Japan

n Product Launch in March 2005 Under PMS Program

n PMS Enrollment Lifted April 2007 4Cumulative 14,000 Patients Enrolled

n Strong Revenue Growth in Japan in 200741H07 $56M (+75%)

42Q’07 $34M (+140%)

Expect Enbrel to Exceed $500 Million in Annual Sales in the Asia-Pacific Region

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+31%$1,249TOTAL

+24%69Asia Pacific

+118%94Latin America

+50%508EMEA

+13%$578United States

6National Programs Announced*

16Current National Programs

84Launched Countries

89Registered Countries

First Half 2007 Growth Current Status

Prevnar – Strong Global Growth

* Includes Ireland, Denmark, Cyprus, New Zealand, Costa Rica and Peru

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$3 B +

$1.5 B

$0

$1

$2

$3

$4

2005A 2009E

Sal

es (

$ B

illio

ns)

Source: Wyeth internal sales data, 2007

• New Launches• NIPs• Compliance/Catch-up• Emerging Markets

Double Sales by 2010 2009xxPrevnar – Growth Potential

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Total Market Potential

$6.0 B

Total Developed Market

Potential$2.5 B

Total Emerging/Developing

Potential$3.5 B

PrevnarPenetration:

4% (2006)

PrevnarPenetration:

73%(2006)

Prevnar 2006$2.0 B

Penetration:33%

Prevnar – Redefining The Possible

Emerging Markets

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Prevnar 13v – Expanding the Coverage

> $1.5 Billion> $3 BillionPeak Sales

n Proof of concept achieved

n Licensing criteria agreed upon

n Worldwide phase 3 studies ongoing

n Submission late 2009

n Phase 2 proof of concept achieved

n Licensing criteria agreed upon

n Worldwide phase 3 studiesongoing

n Submission early 2009

Status

Provide first and only conjugate vaccine that offers adults, age 50 and above, an opportunity to prevent pneumococcalpneumonia for the rest of their lives

Provide broadest coverage available for the global protection of children against pneumococcaldiseaseOpportunity

AdultInfant

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Wyeth’s Current/Near Term Opportunities

Prevnar 13v Adult

Prevnar 13v Infant

Methylnaltrexone (I.V.)

Aprela™

Menopausal Symptoms & Osteoporosis

Upcoming Upcoming SubmissionsSubmissions

Tygacil™(CAP)

ReFacto® AF

Methylnaltrexone (Subcutaneous)

Pristiq™

Depression

Viviant™

Osteoporosis Prevention & Treatment

Pending FDA Pending FDA ApprovalApproval

Torisel™

Lybrel™

Recent FDA Recent FDA ApprovalsApprovals

Tygacil™(HAP)

Bifeprunox

Pristiq™

Vasomotor Symptoms

Pending Pending Further TrialsFurther Trials

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BMP-2: Revolutionary Product Meeting Significant Medical Needs

n Approved in 37 Countries

n Used in ~300,000 Patients

n Oral Maxillofacial Procedures4 Approved by FDA in March 2007

n AMPLIFY for Posterolateral Spinal Fusion4 Submitted to and Accepted by FDA in Q1 2006

$0

$100

$200

$300

$400

$500

$600

$700

2003 2004 2005 2006

$ m

il + 102%

+ 41%

+ 30%

CAGR: ~50

%

INFUSE Sales(As Reported by Medtronic)2002:

Spinal Fusion

2004: Open Tibia

Fracture

Indications2007:

Oral Maxillofacial Procedures

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• Strong Revenue Growth in International Markets

• 2006: Global Nutrition $1.2B• 12% CAGR (’03-’06)

• Business Based on Science and Innovation

• Gold with Lutein• Medical Messaging

• Compelling Product Line / Markets

• 1st – 4th Age Segments• Specialty Products• Growing Markets

0

500

1,000

1,500

2003A 2004A 2005A 2006A 2007 1H

Asia Pacific EMEA

Latin America N America

$ Million

Source: Wyeth Finance

$705M

Wyeth Nutritionals Business Unit

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Notation: RegionNet Sales (2006A) Growth, ’06A vs ’05A

N America Sales not included

Asia Pacific$690M+ 23%

Europe /Middle East

$314M+ 3%

Latin America$193M+ 15%

2006 Net Revenue$1.2 Billion (+15%)

> 60 Countries

Wyeth Nutrition Global Presence (2006 Revenue)

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Wyeth Consumer Healthcare

n Wyeth Consumer Health - Solid Contributor to Revenue and Profit Growth at Wyeth4Worldwide Revenue +7% for 1st Half 2007

4Strong Worldwide Growth From Key Brands

4Strong International Growth- +16% in 1st Half 2007

Centrum®, Preparation H®, Caltrate® and Robitussin®

All Hold Number One Positions in Their Markets

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Driving Growth with Global BrandsModel for Success Yielding Growth, Driven by International

ANALGESICS

CENTRUM

CALTRATE +12%+8%$106 M

+22%+8%$327 M

+9%+8%$370 M

Int’l. % Growth

Global % Growth

YTD 6/30/07

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Wyeth’s Animal Health BusinessNet Sales 2004-2006

$0

$200

$400

$600

$800

$1,000

$1,200

2004 2005 2006

($ M

illio

ns)

5% 5%7%

$837 M $880 M $940 M

First Half 2007 Animal Health Net Revenue Was $554 Million (+6.5%)On Track to Exceed $1 Billion Mark in 2007

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n Offers Flea and Tick Protection for Dogs and Flea Protection for Cats

n European Approval 2006; U.S. Approval 2007n Largest Category in the Animal Health Market With

Global Annual Sales Exceeding $1.2 Billionn No Major New Product For Flea and Tick Protection in

Over Ten Yearsn Fort Dodge Animal Health Has Strong Position in the

U.S.A. Companion Animal Marketn ProMeris New Compound With Novel Mode of Actionn Expect ~$200 Million Third Full Year Sales

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Positioning Wyeth To Be A Stronger Company

n Wyeth Continues to Have a Strong Portfolio of Marketed Products and a Solid Pipeline of Potential Therapies

n We Are Confident in the Quality and Productivity of Our Research Organization and Our Ability to Bring New Products to Market.

n Wyeth Is a Financially Strong Company With Considerable Resources and We Will Continue to Improve Profitability by Enhancing Productivity

We Are Committed to Achieving Our Stated Goal of Delivering Solid Top Line Growth, Effectively Managing Costs, and Growing the Bottom Line at a Meaningfully

Faster Rate Than the Growth in Revenues