(I) GRAZAX - ProInvestor

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May 2007 Strong health economics data backing negotiations Curing Allergy 26 Negotiations supported by strong health economics analyses GRAZAX ® is cost-effective to society if the annual cost < EUR 2,200 (EUR 6 per tablet)* Analysis published in Clinical and Experimental Allergy** GRAZAX ® also compares favourably with injection-based allergy vaccines *) Analysis covers the UK, Germany, the Netherlands, Sweden, Norway, Finland and Denmark **) Clinical & Experimental Allergy 37:5 (May 2007)
May 2007 GRAZAX ® is highly cost-effective to society (II) Curing Allergy 27 Cost per QALY (€1,000) Medical interventions NICE threshold 9 Not cost-effective Potentially costeffective Cost-effective Cost per QALY for a range of medical interventions 1-9 The cost-effectiveness of GRAZAX ® compares favourably with many other medical interventions 1-9 Angiotensin II receptor antagonist (for hypertension) 1 Inhaled corticosteroids (for asthma) 2 GRAZAX ® (for grass pollen allergy) 3 Combination therapy (β 2 -adrenergic receptor agonist/corticosteroid oral inhaler) (for asthma) 4 Statin (for hypercholesterolaemia) 5,6 Lipase inhibitors (for obesity) 7 Cox-II inhibitors (non high risk) (for arthritis) 7 Neuraminidase inhibitor (for influenza) 7 β-interferon (for multiple sclerosis) 5,8 References: See appendix
Page 1 and 2: Curing Allergy We improve quality o
Page 3 and 4: May 2007 Table of content Curing Al
Page 5 and 6: May 2007 What is allergy? Curing Al
Page 7 and 8: May 2007 Allergies have a significa
Page 9 and 10: May 2007 Curing Allergy 9 What is a
Page 11 and 12: May 2007 Curing Allergy 11 Immunoth
Page 13 and 14: Curing Allergy THE IMMUNOTHERAPY MA
Page 15 and 16: May 2007 The market for specific im
Page 17 and 18: Curing Allergy GRAZAX ® See more o
Page 19 and 20: May 2007 GRAZAX ® - improving qual
Page 21 and 22: May 2007 Status on GRAZAX ® - ALK-
Page 23 and 24: May 2007 Curing Allergy 23 Seasonal
Page 25: May 2007 GRAZAX ® well received in
Page 29 and 30: May 2007 Schering-Plough - Partner
Page 31 and 32: May 2007 ALK-Abelló and Menarini -
Page 33 and 34: May 2007 R&D Pipeline Curing Allerg
Page 35 and 36: Curing Allergy FINANCIAL HIGHLIGHTS
Page 37 and 38: May 2007 Strong underlying sales de
Page 39 and 40: May 2007 Earnings in line with expe
Page 41 and 42: May 2007 Earnings outlook for 2007
Page 43 and 44: May 2007 Forward-looking statements
Page 45 and 46: May 2007 Ongoing progress and news
Page 47 and 48: May 2007 Shareholder structure Curi
Page 49 and 50: May 2007 GRAZAX ® launch strategy
Page 51 and 52: May 2007 Market potential (I) Curin
Page 53 and 54: May 2007 GRAZAX ® - Clinical trial
Page 55 and 56: May 2007 GRAZAX ® - Clinical trial
Page 57 and 58: May 2007 Long-term efficacy of GRAZ
Page 59 and 60: May 2007 GRAZAX ® safety and toler
Page 61 and 62: May 2007 GRAZAX ® safety and toler
Page 63 and 64: May 2007 ALK-Abelló publications L
Page 65 and 66: May 2007 References Curing Allergy
Page 67 and 68: May 2007 Allergy calendar Curing Al
Page 69: May 2007 Contact Investor Relations

(I) GRAZAX - ProInvestor

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