1. © Copyright 2004 Frost & Sullivan. All Rights Reserved. U.S. Market for Hormone Replacement Therapy Expensive Human Growth Hormone Therapy Deters Uptake Pharmaceutical and Biotechnology Group “Even as end users become increasingly conscious of the potential benefits of the human growth hormone (HGH), the high costs have posed a barrier to immediate adoption. The anti-aging use of HGH medications is not covered by any healthcare plans and this is limiting the acceptance of the therapy.”

2. © Copyright 2004 Frost & Sullivan. All Rights Reserved. Industry Trends Side effects are a concern, particularly for estrogen replacement therapy (ERT) products, since recent World Health Initiative studies have linked oral formulations to increased risk of breast cancer. In the HGH market, all products are injectable. However, novel formulations such as needle-free injection devices and products that may be administered just twice monthly are making these easier to take. This is important for the large pediatric segment of HGH patients, as they typically have trouble taking daily injectable drugs. As healthcare and drug costs continue to rise, healthcare plan providers are continuing to restrict formulary inclusion and/or charging members higher co-payments for more expensive medications. Many managed care plans do not cover HGH products. Direct-to-consumer (DTC) advertising has had a profound effect on stimulating the usage of hormone replacement therapy (HRT) drugs.

3. © Copyright 2004 Frost & Sullivan. All Rights Reserved. Key Features Frost & Sullivan Provides: Detailed insights into recent developments and trends Drivers, restraints, challenges, and strategic recommendations Analyst insights on ‘hot topics’ and emerging applications in the HRT market Market sizing and competitive analysis Market forecasts and opportunity analysis Quarterly assessments End-user analysis within each report

4. © Copyright 2004 Frost & Sullivan. All Rights Reserved. What We Offer Coverage: The United States Proven methodology encompassing extensive primary and secondary data and research Focused information and strategies that cover business and technology issues Credible data and analysis highlighting industry dynamics Winning strategies to help you create precise business plans

5. © Copyright 2004 Frost & Sullivan. All Rights Reserved. Who Will Benefit? Current Market Participants Find out how you compare to the competition Assess current and future drivers and restraints Determine and exploit market share opportunities New Entrants Analyze challenges associated with the industry Calculate forecasts for end-user growth potential Position yourself to capitalize on the market’s unmet needs Investment Community Analyze long-term strategies of companies Determine which participants will outperform the competition Assess attractiveness of investing in the market

6. © Copyright 2004 Frost & Sullivan. All Rights Reserved. What’s Included Key statistics on potential and actual patients for the HRT markets Challenges, trends and drivers in the HRT markets Revenue forecast for HRT market from 2004-2010 Other emerging products and technology in the market Strategies for entry and growth

7. © Copyright 2004 Frost & Sullivan. All Rights Reserved. Key Market Participants  Abbott  Berlex  Eli Lilly  Forest  Galen  Genentech  King  Mylan  Novartis  Pfizer  Serono  Wyeth

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