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Isis Reports Financial Results and Highlights for Fiscal year 2007
Date:3/13/2008

of our business, resulting in substantial benefit in 2007. Additionally, our progress has poised us to continue to benefit significantly as key assets move forward in our partner's hands supporting our very strong 2008 projected financial performance. Mipomersen, our flagship drug, continued to display very positive activity in multiple patient populations studied both as a single agent and in combination with other lipid lowering agents, and a safety profile that we believe will make mipomersen a very attractive drug in patients with high cholesterol who are at high risk of cardiovascular disease. We conducted a successful auction process that resulted in the license of mipomersen on very lucrative terms to Genzyme, including a very favorable profit sharing arrangement that allows us to participate in the long term commercial success of mipomersen. We advanced all of the drugs in our pipeline, and we licensed two of our metabolic drugs to Ortho-McNeil and a new cardiovascular research program on PCSK9 to Bristol-Myers Squibb, all high value transactions. The funds from these collaborations will enable us to advance valuable new drugs into development. We believe that the value across all of our drug discovery programs has greatly increased because of mipomersen's continued clinical success, and this has enabled us to license our drugs on very attractive terms to high quality partners," said Ms. Parshall.

"We commercialized the Ibis technology and secured a valuable strategic relationship with Abbott on excellent financial terms. This relationship provides Ibis with the necessary capital and expertise to continue to move toward clinical diagnostics. Abbott has the option to purchase the remaining shares of Ibis through mid 2009. Abbott's favorable valuation of Ibis and the Ibis technology at $215 million reflects the significant value of our technology and innovation. If Abbott purchases Ibis, Isis and our shareholders will continue to participate in Ibis' c
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SOURCE Isis Pharmaceuticals, Inc.
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