1. Goldman Sachs Annual Global
Healthcare Conference
Bernard Poussot
President and Chief Executive Officer
June 11, 2008

2. 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 annual report on
Form 10-K under the caption quot;Item 1A, Risk Factors.quot; 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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3. Wyeth’s Goal: Generate Sustainable Growth
In a Tumultuous Environment
1. Manage the Impact of Protonix on the Bottom Line
2. Achieve Full Potential of Core Products
3. Successfully Launch New Products
4. The Transforming Potential of R&D
Optimize Diversification By Accelerating
5. International Expansion
Continue Wyeth Transformation
6.
3

4. Manage the Impact of Protonix® on the
Bottom Line
Take Aggressive Measures to Mitigate the Impact of
the Loss of Protonix to the Extent Possible
Pro Forma EPS $3.35 to $3.49 (-1% to -5%)*
n
* Excludes Certain Significant Items
4

5. Optimize Growth Engines
®
BMP-2
5

6. Successfully Introduce New Products
Continued and Projected 2008 Launches
Strong U.S. Acceptance; International Launches
Taking Place Throughout 2008
Only Targeted RCC Agent with Overall Survival
Benefit in Patients with Multiple Risk Factors
Launch Just Underway – May 2008; Early Rx and
Formulary Acceptance In-Line with Projections
Improved Manufacturing Process Eliminates Risk
of Viral Contamination and Increases Yields
Future Standard for Relief of Opioid Side Effects;
Full Launch Expected in July
Flea and Tick Protection for Dogs and Flea
Protection for Cats
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7. The Transforming Potential of R&D
Optimal Use of Three Technology Platforms … A Competitive
Advantage for Wyeth
Prevnar 13v
n
4More Than Just Prevnar 7v for Infants
4Further Expansion into Infant Population … Especially International
4New Indication for Adult Population
Alzheimer’s Disease
n
4Potential to Transform Medicine and Wyeth
410 A.D. Compounds in Development at Wyeth
4Bapineuzumab Furthest Along
Oncology
n
4Two New Products Advanced to Phase 3
4Inotuzumab (CMC-544) –Treatment of Follicular Lymphoma
4Bosutinib (SKI-606) - Treatment of Chronic Myelogenous Leukemia
Enhance Internal R&D Efforts with M&A:
Technologies, Companies or Attractive Products
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8. Optimize Diversification By Accelerating
International Expansion
Wyeth Revenue
FY 2007 1Q 2008
48%
54%
46%
52%
Int’l.
U.S.
Strong Growth From International Businesses
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9. Optimize Diversification By Accelerating
International Expansion
4100% ex-U.S.; Growing 19% 1Q08
4Operating Margins Similar to Pharmaceutical
Business
4Continued Innovation to Offer Scientifically Advanced
Nutritional Products
452% ex-U.S.; Growing 20% 1Q08
4Leadership in Pain, Cough/Cold and
Vitamin/Nutritionals Categories
463% ex-U.S.; Growing 14% 1Q08
4Leading Biological/Vaccine Businesses
4Growing Strength in Companion Category
e.g., ProMeris
9

10. Optimize Diversification By Accelerating
International Expansion
Enhanced Financial
Dedicated Executive
Support
Management
Leadership
Focused/Accelerated Decision Making
10

11. Continue Wyeth Transformation
Project Impact
Level One
n
4Cost Reduction to Absorb Protonix Losses
Level Two
n
4Business Model & Structure Refinement
4Enhance Productivity Initiatives
- R&D
- Manufacturing
- Commercial
- Administrative
Level Three
n
4Pharma Strategic Redesign
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12. Effectively Manage Costs
SG&A as a % of Revenue
40%
37.1%
36.0%
34.4% 34.5%
33.4%
35%
32.2%
31.6%
30.2%
30%
25%
2000 2001 2002 2003 2004 2005 2006 2007
… And More to Come From Project Impact
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13. Leading Wyeth Forward
Employing Multiple and Diverse
Assets to Secure Future Growth
13