Multiple Sclerosis

09 September 2013 Americas/United States Equity Research Biotechnology

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 Research Analysts CATALYST ALERT Ravi Mehrotra PhD 212 325 3487 [email protected] It's a Revolution! - But Just How Big? Koon Ching PhD 212 325 6286 Summary: In our view, it’s not a question of whether it is a revolution or [email protected] evolution anymore; the MS market IS undergoing a revolution! The question is Lee Kalowski now just how big a revolution (and for investors what is not priced into the 212 325 9683 [email protected] stocks!). This revolution in the clinical management of MS is being driven not only by the launch of next-gen agents but also by changing treatment and European Pharma Team 44 207 888 0304 diagnosis paradigms. The consequence of this revolution is that MS is rapidly [email protected] changing from a “diagnose, treat, and see” to a “treat aggressively to the goal” Jason Kantor, PhD therapeutic area. The upcoming ECTRIMS meeting (Copenhagen Oct 2-5), will 415 249 7942 deliver incremental clinical data (rather than key pivotal data) for next-gen MS [email protected] agents. More importantly, the meeting will act as an important “front-line forum” Jeremiah Shepard, PhD to gauge the massively changing dynamics within the MS therapeutic area. We 415 249 7933 will be attending this conference. Within this note, we provide an itinerary [email protected] planner for the meeting for institutional investors. Vamil Divan, MD 212 538 5394 ■ Notable incremental data on next-gen agents (Exhibit 40 - Exhibit 66) to [email protected] be looking for at ECTRIMS are: Tecfidera (BIIB): 3-year, follow-up integrated Ari Jahja (efficacy inc MRI) data from DEFINE, CONFIRM, and ENDORSE. A long-term, 212 325 0767 interim update on safety from the ENDORSE study. Plegridy (BIIB): Further [email protected] efficacy and safety analyses of ADVANCE data will be presented. Aubagio/ Ronak H. Shah, Pharm.D., CFA Lemtrada (Sanofi): Pooled efficacy and safety PIII data/3-year disability, safety 212 325 9799 data + lymphocyte dynamics in CARE-MS II data. Laquinimod (TEVA/Active [email protected] Biotech): PIII CONCERTO trial design for 0.6mg and 1.0mg doses. Gilenya James C. Chen, CFA 212 538 5173 (Novartis/Mitsubishi): Long-term efficacy FREEDOMS II data. Selective [email protected] S1P1s: RPC1063 (RCPT): Focus will be on PI and QT/QTc data. Ponesimod Jeremy Joseph (ATLN), ONO-4641 (Ono/Merck KgaA): Additional PII data will be presented. 212 325 3870 Siponimod (Novartis): PI QT/QTc data on "placebo-like" AV effects will be of [email protected] interest. Ocrelizumab (BIIB/Roche)/Daclizumab (BIIB/ABBV). No major new data, but Roche is hosting a whole symposium devoted to B-cell therapy. ■ Our top-10 sound bites/observation/questions/focal points for the conference are below – We will be publishing more details on these topics ahead of the conference: (1) “Warehoused” untreated MS population remains an important sensitivity. (2) Earlier and “treat-to-goal” like management to drive a dynamic market. (3) Increasing focus on MRI clinical measures in diagnosis and treatment. (4) Is our “three buckets hypothesis” still valid? (5) Is price of drugs influencing treatment choices? (6) What is interesting in the earlier stage development pipeline? (7) How do physicians view the relative clinical efficacy of MS therapeutics? (8) How will the treatment sequencing change? (9) What is the emerging side effect profile of Tecfidera? (especially (a) Is PML a real gating point concern?; (b) What is the real world flush/GI impact?) (10) How do physicians view Tecfidera leukocyte and lymphocyte monitoring? As a final humorous point/observation, we find the title of the two Biogen sponsored symposium to be held at ECTRIMS very interesting: 10/2 "Biogen Idec: Reinventing MS care – Evolution"; 10/3 "Biogen Idec: Reinventing MS care – Revolution". Smart titles (in our view). DISCLOSURE APPENDIX CONTAINS IMPORTANT DISCLOSURES, ANALYST CERTIFICATIONS, INFORMATION ON TRADE ALERTS, ANALYST MODEL PORTFOLIOS AND THE STATUS OF NON-U.S ANALYSTS. US Disclosure: Credit Suisse does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision.

CREDIT SUISSE SECURITIES RESEARCH & ANALYTICS BEYOND INFORMATION® Client-Driven Solutions, Insights, and Access

09 September 2013

Exhibit 1: Key Sessions – Wednesday, October 2, 2013 Wednesday, October 2, 2013 Time Event/Topic Location Authors Title ID 08:30 - 09:00 Teaching Course Hall A S. Fredrikson "How do I choose the correct disease-modifying 6 treatment for my MS patient?" - To treat or not to treat CIS and RRMS 09:00 - 09:30 Teaching Course Hall A R. Fox "How do I choose the correct disease-modifying 7 treatment for my MS patient?" - Choosing the right treatment for the individual patient 09:30 - 10:00 Teaching Course Hall A B. Kieseier "How do I choose the correct disease-modifying 8 treatment for my MS patient?" - When and how should treatment be switched or escalated? 10:30 - 11:00 Teaching Course Hall C A. Rovira "MRI issues in clinical practice" - Use of brain and 33 spinal cord MRI for differential diagnosis 10:30 - 11:00 Teaching Course Hall F N. de Stefano "MRI relevance in neurodegeneration" - Brain 36 MRI: biomarkers of neurodegeneration 10:30 - 11:00 Teaching Course Hall A P. Vermersch "Differential diagnoses and diagnostic dilemmas 21 in MS" - Diagnostic approach to multiple sclerosis 11:00 - 11:30 Teaching Course Hall C M. Wattjes "MRI issues in clinical practice" - How and when 34 should brain and spinal cord MRI be performed in the diagnostic process? 11:30 - 12:00 Teaching Course Hall C X. Montalban "MRI issues in clinical practice" - MRI in predicting 35 treatment response: ready to be used in individual patients?

Legend: Sessions To Consider BAF312 Company Events ONO-4641 Aubagio Ponesimod Alemtuzumab RPC1063 Tecfidera Copaxone Daclizumab BIIB033 Laquinimod Other Compounds Ocrelizumab Plegridy Tysabri Secukinumab Gilenya

Source: ECTRIMS, Credit Suisse research

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 2 09 September 2013

Exhibit 2: Key Sessions – Wednesday, October 2, 2013 Wednesday, October 2, 2013 Time Event/Topic Location Authors Title ID 17:15 - 17:35 Satellite Hall A H.-P. Hartung "Biogen Idec: Reinventing MS care – evolution" - 65 Symposium Tailoring choice: a drug for each patient at the right time 17:35 - 17:55 Satellite Hall A G. Giovannoni "Biogen Idec: Reinventing MS care – evolution" - 66 Symposium Silencing the disease from the start 17:55 - 18:15 Satellite Hall A P. Calabresi "Biogen Idec: Reinventing MS care – evolution" - 67 Symposium Advancing interferons for people with MS 18:30 - 18:35 Satellite Hall A D. Bates "Merck Serono: Supporting patient engagement 68 Symposium for optimized treatment management in MS" - Introduction 18:35 - 18:50 Satellite Hall A M.S. Freedman "Merck Serono: Supporting patient engagement 69 Symposium for optimized treatment management in MS" - Defining goals at the start of treatment 18:50 - 19:05 Satellite Hall A A. Feinstein "Merck Serono: Supporting patient engagement 70 Symposium for optimized treatment management in MS" - Understanding our patients: the importance of effective communication 19:05 - 19:20 Satellite Hall A A. Lugaresi "Merck Serono: Supporting patient engagement 71 Symposium for optimized treatment management in MS" - Engaging with patients to achieve treatment goals 19:20 - 19:30 Satellite Hall A D. Bates, D. Lowden "Merck Serono: Supporting patient engagement 72 Symposium for optimized treatment management in MS" - Discussion: patient engagement with MS treatments 18:30 - 19:30 Satellite Hall A D. Bates "Merck Serono: Supporting patient engagement 73 Symposium for optimized treatment management in MS" - Close

Source: ECTRIMS, Credit Suisse research

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 3 09 September 2013

Exhibit 3: Key Sessions – Thursday, October 3, 2013 Thursday, October 3, 2013 Time Event/Topic Location Authors Title ID 07:45 - 08:05 Satellite Hall A X. Montalban "Biogen Idec: Reinventing MS care – revolution" - 74 Symposium Defending the brain 08:05 - 08:25 Satellite Hall A T. Berger "Biogen Idec: Reinventing MS care – revolution" - 75 Symposium Returning mobility and QoL to people with MS 08:25 - 08:45 Satellite Hall A A. Sandrock Biogen Idec: Reinventing MS care – revolution - 76 Symposium The future is repair 09:30 - 10:15 Plenary Session 1 Hall A G. Comi "Welcome Address and ECTRIMS Lecture" - 81 Early treatment of multiple sclerosis 11:05 - 11:25 Window of Hall A J. Cohen Long-term benefits of MS treatment 95 opportunity in MS 13:00 - 13:15 Satellite Hall A P.S. Sorensen "Teva Neuroscience: Re-evaluating the treatment 105 Symposium algorithm in multiple sclerosis: emerging insights" - Welcome and introduction 13:15 - 13:30 Satellite Hall A F. Zipp "Teva Neuroscience: Re-evaluating the treatment 106 Symposium algorithm in multiple sclerosis: emerging insights" - Multiple sclerosis: changing concepts, new targets 13:30 - 13:45 Satellite Hall A P. Vermersch "Teva Neuroscience: Re-evaluating the treatment 107 Symposium algorithm in multiple sclerosis: emerging insights" - Treatment sequencing or treatment selection: time to re-evaluate our approach? 13:45 14:00 Satellite Hall A F. Lublin "Teva Neuroscience: Re-evaluating the treatment 108 Symposium algorithm in multiple sclerosis: emerging insights" - Older, but wiser? Re-evaluating the role of established multiple sclerosis therapies 15:45 - 17:00 Experimental - - - - - R. Peach, J. Brooks, H. Dedman, R. Powell, RPC1063, a potent and selective sphingosine 1- P 375 models F. Scott, G. Timony phosphate 1 receptor modulator, has a favourable preclinical safety profile 15:45 - 17:00 Immunomodulation/ - - - - - P. Calabresi, B. Kieseier, D. Arnold, L. Peginterferon beta-1a provides improvements in P 514 Immunosuppression Balcer, A. Boyko, J. Pelletier, S. Liu, Y. Zhu, clinical and radiological disease activity in X. You, A. Seddighzadeh, B. Sperling, S. relapsing-remitting multiple sclerosis: year 1 Hung, A. Deykin findings from the phase 3 ADVANCE study

Source: ECTRIMS, Credit Suisse research

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 4 09 September 2013

Exhibit 4: Key Sessions – Thursday, October 3, 2013 Thursday, October 3, 2013 Time Event/Topic Location Authors Title ID 15:45 - 17:00 Immunomodulation/ - - - - - L.H. Kasper, D.L. Arnold, J.A. Cohen, A.J. Lymphocyte subset dynamics following P 531 Immunosuppression Coles, E.J. Fox, H.-P. Hartung, E. Havrdova, alemtuzumab treatment in the CARE-MS II K.W. Selmaj, H.L. Weiner, J. Palmer, D.H. study Margolin, M.A. Panzara, D.A.S. Compston

15:45 - 17:00 Immunomodulation/ - - - - - K. Selmaj, F. Zipp, T. Vollmer, A. Bar-Or, B. Effect of ONO-4641, a potent, oral, selective P 536 Immunosuppression Due, T.Z. Fischer, K. Thangavelu on behalf of sphingosine-1-phosphate receptor-1 and -5 the DreaMS study investigators agonist, on MRI outcomes in patients with relapsing remitting multiple sclerosis: subgroup analyses from the phase 2 DreaMS study

15:45 - 17:00 Immunomodulation/ - - - - - K. Selmaj, R. Gold, R. J. Fox, E. Havrdova, Flushing and gastrointestinal tolerability events P 537 Immunosuppression G. Giovannoni, A. Pace, M. Novas, L. in relapsing remitting multiple sclerosis (RRMS) Meltzer, C. Hotermans, V. Viglietta, J. T. patients treated with oral BG-12 dimethyl Phillips fumarate) in the phase 3 DEFINE and CONFIRM trials 15:45 - 17:00 Immunomodulation/ - - - - - R. Gold, J. T. Phillips, A. Bar-Or, M. Three-year follow-up of oral BG-12 (dimethyl P 538 Immunosuppression Hutchinson, L. Kappos, R. Zhang, M. Yang, fumarate) treatment in relapsing remitting V. Viglietta, S. I. Sheikh, R. J. Fox multiple sclerosis (RRMS): integrated clinical efficacy data from the DEFINE, CONFIRM, and ENDORSE studies 15:45 - 17:00 Immunomodulation/ - - - - - B. Kieseier, P. Calabresi, D. Arnold, Y. Zhu, Subgroup and sensitivity analyses of the primary P 539 Immunosuppression S. Liu, S. Hung, A. Deykin, S. Sheikh endpoint from the peginterferon beta-1a ADVANCE study: a pivotal phase 3 study in patients with relapsing-remitting multiple sclerosis 15:45 - 17:00 Immunomodulation/ - - - - - B. Kieseier, P. Calabresi, S. Liu, Y. Zhu, X. Effect of peginterferon beta-1a on disability P 540 Immunosuppression You, B. Sperling, S. Sheikh, S. Hung, A. progression in patients with relapsing remitting Deykin multiple sclerosis: year 1 data from the pivotal phase 3 ADVANCE study 15:45 - 17:00 Immunomodulation/ - - - - - M. Freedman, J. Wolinsky, G. Comi, L. Long-term safety and efficacy of teriflunomide in P 544 Immunosuppression Kappos, T. Olsson, A. Miller, M. Benamor, D. patients with relapsing forms of multiple Dukovic, J. Liang, P. Truffinet, P. O'Connor sclerosis in the TEMSO extension trial

Source: ECTRIMS, Credit Suisse research

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 5 09 September 2013

Exhibit 5: Key Sessions – Thursday, October 3, 2013 Thursday, October 3, 2013 Time Event/Topic Location Authors Title ID 15:45 - 17:00 Immunomodulation/ - - - - - D. Cadavid, I. Melamed, H. Gevorkyan, N. The use of magnetic resonance imaging to P 545 Immunosuppression Richert monitor the safety of anti-LINGO-1: findings from phase 1 studies in healthy volunteers and subjects with multiple sclerosis 15:45 - 17:00 Immunomodulation/ - - - - - T. Vollmer, F. Zipp, A. Bar-Or, B. Due, K. Magnetic resonance imaging measures of P 547 Immunosuppression Thangavelu, T.Z. Fischer, K. Selmaj on behalf efficacy in patients with multiple sclerosis of the DreaMS study investigators receiving ONO-4641, a sphingosine-1-phosphate receptor-1 and -5 agonist: interim results from an extension of the DreaMS study 15:45 - 17:00 Immunomodulation/ - - - - - S.Y. Hong, J. Park, W. Park, H. Park, D. Efficacy and safety of LC510201, an orally P 552 Immunosuppression Park, J. Choi, S. Baek, J. Park, H. Park active, selective sphingosine-1-phosphate receptor 1 (S1P1) and -5 (S1P5) agonist, in preclinical models of multiple sclerosis 15:45 - 17:00 Immunomodulation/ - - - - - M. Hutchinson, R. Gold, R. J. Fox, E. Clinical efficacy of BG-12 (dimethyl fumarate) for P 563 Immunosuppression Havrdova, G. Giovannoni, A. Zhang, C. relapsing remitting multiple sclerosis according Hotermans, M. Stephan, A. Bar-Or to prior therapy: an integrated analysis of the phase 3 DEFINE and CONFIRM studies

15:45 - 17:00 Immunomodulation/ - - - - - A. Savinainen, S. El Bawab, T. Crandall, R. ONO-4641, a potent and selective sphingosine-1- Immunosuppression Chang, U. Boschert, T. Dellovade phosphate receptor-1 and -5 agonist, results in less lymphopenia than fingolimod at effective doses in a preclinical model of multiple sclerosis

15:45 - 17:00 Long-term treatment - - - - - H.-P. Hartung, D.L. Arnold, J.A. Cohen, A.J. Reduction of disability with alemtuzumab in P 592 monitoring Coles, E.J. Fox, E. Havrdova, K.W. Selmaj, relapsing remitting multiple sclerosis patients H.L. Weiner, J. Palmer, D.H. Margolin, M.A. who participated in CARE-MS II: three year Panzara, D.A.S. Compston follow-up 15:45 - 17:00 Risk management - - - - - V. Limmroth, S. Hoyer, K. Schuh, M. Lang, Good cardiac safety profile after fingolimod P 602 for disease O. Hoffmann, T. Ziemssen (Gilenya®) treatment initiation in patients with modifying relapsing remitting multiple sclerosis: first treatments interim analysis of the START study 15:45 - 17:00 Risk management - - - - - E. Havrdova, D.L. Arnold, J.A. Cohen, A.J. Infection risk with alemtuzumab in patients with P 603 for disease Coles, E.J. Fox, H.-P. Hartung, K. Selmaj, relapsing remitting multiple sclerosis: pooled modifying H.L. Weiner, J. Palmer, D.H. Margolin, P. results from the CARE-MS I and CARE-MS II treatments Oyuela, M.A. Panzara, D.A.S. Compston trials 15:45 - 17:00 Others - - - - - L. Kappos, G. Comi, M.S. Freedman, A.E. Pooled efficacy data from two phase 3 placebo- P 618 Miller, T.P. Olsson, J.S. Wolinsky, P. controlled trials of oral, once-daily teriflunomide Truffinet, S. Cavalier, J.-L. Delhay, D. Dukovic, P. O’Connor

Source: ECTRIMS, Credit Suisse research

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 6 09 September 2013

Exhibit 6: Key Sessions – Thursday, October 3, 2013 Thursday, October 3, 2013 Time Event/Topic Location Authors Title ID 15:45 - 17:00 Others - - - - - J. Cohen, J. Pelletier, P. Chin, N. Sfikas, G. Efficacy of fingolimod in relapsing remitting P 620 Karlsson, P. von Rosenstiel, L. Kappos multiple sclerosis (RRMS) as measured by multiple sclerosis functional composite: results from the TRANSFORMS, FREEDOMS, and FREEDOMS II phase 3 studies

15:45 - 17:00 Others - - - - - K. Shakeri-Nejad, B. Brendani, N. Pezous, L. Placebo-like occurrence of atrioventricular P 626 Mooney, A. Juan, M. Allison, R.G. Perry, E. blocks and sinus pauses: results from a Legangneux siponimod QT/QTc study 15:45 - 17:00 Others - - - - - T. Leist, M. Freedman, L. Kappos, T. Olsson, Pooled safety data from three placebo-controlled P 633 A. Miller, J. Wolinsky, P. O'Connor, M. teriflunomide studies Benamor, J. Delhay, P. Truffinet, D. Dukovic, J. Li, G. Comi 18:05 - 18:20 Satellite Hall A H. Wiendl "Medscape Education: Evolving the 142 Symposium management of MS: new insights and new directions" - The changing landscape for clinical decisions in managing RRMS with oral therapies 18:20 - 18:35 Satellite Hall B J. Sastre-Garriga "Medscape Education: Evolving the 143 Symposium management of MS: new insights and new directions" - Beyond reducing-relapses in RRMS: the importance of neuroprotection - 18:35 - 18:50 Satellite Hall B H. Butzkueven "Medscape Education: Evolving the 144 Symposium management of MS: new insights and new directions" - Balancing efficacy and safety in the 18:50 - 19:00 Satellite Hall B H. Wiendl "Medscape Education: Evolving the 145 Symposium management of MS: new insights and new directions" - Panel discussion and Q&A 19:15 - 19:30 Satellite Hall B F. Lublin "Bayer HealthCare: 25 years of partnership: 146 Symposium working towards a better future for patients with MS" - 25 Years of partnership: working towards a better future for patients with MS 19:30 - 19:50 Satellite Hall B M. Cascione "Bayer HealthCare: 25 years of partnership: 148 Symposium working towards a better future for patients with MS" - 25 Years of partnership: current focus 19:50 - 20:10 Satellite Hall B A. Chan "Bayer HealthCare: 25 years of partnership: 149 Symposium working towards a better future for patients with MS" - 25 Years of partnership: continuous efforts to improve MS patient support

Source: ECTRIMS, Credit Suisse research

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 7 09 September 2013

Exhibit 7: Key Sessions – Friday October 4, 2013 Friday, October 4, 2013 Time Event/Topic Location Authors Title ID 08:00 - 08:05 Satellite Hall B H.-P. Hartung F. Hoffmann- La Roche Ltd: Selective targeting 150 Symposium of B Cells: establishing a new horizon for multiple sclerosis treatment - Welcome and introduction 08:05 - 08:20 Satellite Hall B A. Bar-Or F. Hoffmann- La Roche Ltd: Selective targeting 151 Symposium of B Cells: establishing a new horizon for multiple sclerosis treatment - B cells as key players in the pathobiology of multiple sclerosis

Source: ECTRIMS, Credit Suisse research

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 8 09 September 2013

Exhibit 8: Key Sessions – Friday October 4, 2013 Friday, October 4, 2013 Time Event/Topic Location Authors Title ID 14:20 - 14:40 Progressive MS Hall A F. Sellebjerg Therapeutic opportunities for progressive MS 196 14:20 - 14:40 Looking into the Hall D L. Kappos What is in the pipeline? 208 future: experimental studies of new therapies

15:30 - 17:00 Immunology - - - - - G. Giovannoni, A. Mikulskis, M. McNeil, K. Evaluation of immunogenicity in multiple P 864 Riester, M. Sweetser, J. Elkins, L. Amaravadi sclerosis patients continuously treated with daclizumab-HYP during the SELECT and SELECTION clinical trials 15:30 - 17:00 Immunomodulation/ - - - - - T. Ziemssen, O. Bajenaru, A. Carrá, N. de COPTIMIZE: a two-year observational survey of P 973 Immunosuppression Klippel, J. de Sá, A. Edland, J. Frederiksen, patients with relapsing remitting multiple O. Heinzlef, K. Karageorgiou, A.M. sclerosis switching to glatiramer acetate 20 mg Landtblom, M. Macías Islas, N. Tubridy, Y. daily Gilgun-Sherki 15:30 - 17:00 Immunomodulation/ - - - - - E.W. Radue, D. Stefoski, R. Gold, M. Reduction in brain atrophy with extended P 977 Immunosuppression McNeill, K. Riester, J. Elkins daclizumab HYP treatment: results of SELECT and the SELECT extension study 15:30 - 17:00 Immunomodulation/ - - - - - J. Hartung, A. Olson, R. Peach, M. Boehm, Results of a thorough QT/QTc (TQT) study of P 983 Immunosuppression B. Mendzelevski, D. Chanter, H. Smith, C. orally administered RPC1063, a novel, selective Pan, G. Timony, S. Gujrathi S1P1 receptor agonist, in healthy adult volunteers 15:30 - 17:00 Immunomodulation/ - - - - - D. Arnold, P. Calabresi, B. Kieseier, Y. Zhu, Magnetic resonance imaging results from the P 989 Immunosuppression S. Liu, S. Hung, A. Deykin, S. Sheikh first year of the ADVANCE study, a pivotal phase 3 trial of peginterferon beta-1a in patients with relapsing-remitting multiple sclerosis

Source: ECTRIMS, Credit Suisse research

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 9 09 September 2013

Exhibit 9: Key Sessions – Friday October 4, 2013 Friday, October 4, 2013 Time Event/Topic Location Authors Title ID 15:30 - 17:00 Immunomodulation/ - - - - - F. Zipp, T. Vollmer, A. Bar-Or, B. Due, K. Relapse rates in patients with multiple sclerosis P 992 Immunosuppression Thangavelu, T.Z. Fischer, K. Selmaj on behalf receiving ONO-4641, a sphingosine-1-phosphate of the DreaMS study investigators receptor-1 and -5 agonist: interim results from an extension of the DreaMS study 15:30 - 17:00 Immunomodulation/ - - - - - C. Pozzilli, Ó. Fernández, T. Olsson, M.S. Maintenance of efficacy, safety and tolerability P 995 Immunosuppression Freedman, M. Melanson, A. Boster, E.-W. of ponesimod in patients with relapsing remitting Radue, B. Hennessy, A. Rames, D. multiple sclerosis: phase II extension study D'Ambrosio 15:30 - 17:00 Immunomodulation/ - - - - - J.T. Phillips, R.J. Fox, K. Selmaj, M. Yang, Safety profile of BG-12 (dimethyl fumarate) in P 996 Immunosuppression R. Zhang, M. Novas, M.T. Sweetser, V. relapsing remitting multiple sclerosis: long-term Viglietta, R. Gold interim results from the ENDORSE extension study 15:30 - 17:00 Immunomodulation/ - - - - - A. Bar-Or, F. Zipp, T. Vollmer, B. Due, K. Safety of ONO-4641 in patients with relapsing P 997 Immunosuppression Thangavelu, J. Johnson, K. Selmaj on behalf remitting multiple sclerosis: results from a six- of the DreaMS study investigators month interim analysis of the DreaMS extension study 15:30 - 17:00 Immunomodulation/ - - - - - D. H. Miller, R. J. Fox, R. Gold, E. Havrdova, Three-year follow-up of oral BG-12 (dimethyl P 1004 Immunosuppression L. Kappos, D. MacManus, T. Yousry, R. fumarate) treatment in relapsing remitting Zhang, M. Yang, V. Viglietta, S. I. Sheikh, K. multiple sclerosis (RRMS): integrated magnetic T. Dawson, D. L. Arnold resonance imaging (MRI) outcomes from DEFINE, CONFIRM, and ENDORSE 15:30 - 17:00 Immunomodulation/ - - - - - F. Bernard, D. Yu, A. Gray, U. Boschert, T. Efficacy of ONO-4641, a potent and selective P 1007 Immunosuppression Dellovade, D. Graham sphingosine-1-phosphate receptor-1 and -5 agonist, in a preclinical model of multiple sclerosis 15:30 - 17:00 Immunomodulation/ - - - - - M. Hutchinson, R.J. Fox, A. Bar-Or, E. Efficacy of BG-12 (dimethyl fumarate) in P 1013 Immunosuppression Havrdova, M. Yang, R. Zhang, V. Viglietta, relapsing remitting multiple sclerosis in patients S.I. Sheikh, R. Gold from Europe: an integrated analysis of the phase 3 DEFINE and CONFIRM studies 15:30 - 17:00 Immunomodulation/ - - - - - R. J. Fox, R. Gold, J. T. Phillips, K. Selmaj, Lymphocyte count reductions in relapsing P 1018 Immunosuppression K. Raghupathi, H. Yuan, J. O'Gorman, M. remitting multiple sclerosis (RRMS) patients Novas, V. Viglietta, N. C. Kurukulasuriya treated with oral BG-12 (dimethyl fumarate): integrated analysis of the placebo-controlled studies

Source: ECTRIMS, Credit Suisse research

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 10 09 September 2013

Exhibit 10: Key Sessions – Friday October 4, 2013 Friday, October 4, 2013 Time Event/Topic Location Authors Title ID 15:30 - 17:00 Long-term treatment - - - - - L. Kappos, J. A Cohen, F. Barkhof, L. Relapse rates and disability remain consistently P 1052 monitoring Cappiello, Y. Zhang, P. Von Rosenstiel low with long-term fingolimod therapy: five-year interim results of the LONGTERMS extension study 15:30 - 17:00 Long-term treatment - - - - - J. Lycke, D.L. Arnold, J.A. Cohen, A.J. Coles, Adverse event profile of alemtuzumab in active P 1053 monitoring E.J. Fox, H.-P. Hartung, E. Havrdova, K.W. relapsing remitting multiple sclerosis patients Selmaj, H.L. Weiner, J. Palmer, D.H. who participated in the CARE-MS studies: three- Margolin, P. Oyuela, M.A. Panzara, D.A.S. year follow-up Compston 15:30 - 17:00 Long-term treatment - - - - - T. Vollmer, X. Montalban, G. Comi, T. Multicentre, randomized, placebo controlled P 1054 monitoring Ziemssen, A. Boyko, P. Vermersch, N. study to evaluate the efficacy, safety and Sasson, T. Gorfine, V. Knappertz, M. Filippi tolerability of two doses of oral laquinimod (0.6mg/day and 1.2mg/day) for the treatment of patients with relapsing remitting multiple sclerosis 15:30 - 17:00 Long-term treatment - - - - - T. Vollmer, P.S. Sorensen, K. Selmaj, F. Results of switching to laquinimod in the open- P 1055 monitoring Zipp, E. Havrdova, J. Cohen, Y. Sidi, T. label extension phase of the BRAVO study Gorfine, D. Arnold for the BRAVO Study Group 15:30 - 17:00 Long-term treatment - - - - - P.S. Sorensen, G. Cutter, T. Vollmer, G. The risk of disability progression is associated P 1057 monitoring Comi, D. Ladkani, N. Sasson, V. Knappertz with multiple sclerosis functional composite (MSFC) scores in the laquinimod phase 3 trials

15:30 - 17:00 Risk management - - - - - B. Kieseier, P. Calabresi, T. Song, Y. Zhu, S. Safety and tolerability of peginterferon beta-1a in P 1061 for disease Hung, A. Deykin, A. Seddighzadeh patients with relapsing-remitting multiple modifying sclerosis: data from the pivotal phase 3 treatments ADVANCE study 15:30 - 17:00 Treatment of - - - - - D. Mikol, M. S. Freedman, M. D. Goldman, H- ASCEND study of natalizumab efficacy on P 1087 progressive MS P Hartung, E. Havrdova, D. Jeffery, R. Kapoor, reducing disability in patients with secondary A. Miller, F. Sellebjerg, S. Lee, Y. Chen, D. progressive multiple sclerosis: baseline Cadavid, B. Ticho demographics and disease characteristics 15:30 - 17:00 Treatment of - - - - - D. Cadavid, B. Brochet, G.L. Mancardi, U. The MS-COG, a novel endpoint for measurement P 1088 progressive MS Nocentini, T. Kaushik, L. Xu, Y. Chen, D. of cognitive function in multiple sclerosis clinical Mikol, B. Ticho trials: baseline characteristics of the cognitive substudy of the ASCEND natalizumab secondary progressive multiple sclerosis study

15:30 - 17:00 Others - - - - - A. T. Reder, D. Jeffery, D. Goodin, L. Kappos, Long-term efficacy of fingolimod in patients with P 1092 F. D. Lublin, E. W. Radue, K. Rammohan, T. relapsing remitting multiple sclerosis: results Vollmer, M. A. Agius, T. Stites, B. Li, L. from the phase 3 FREEDOMS II extension Cappiello, P. von Rosenstiel, P. A. Calabresi study

Source: ECTRIMS, Credit Suisse research

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 11 09 September 2013

Exhibit 11: Key Sessions – Friday October 4, 2013 Friday, October 4, 2013 Time Event/Topic Location Authors Title ID 15:30 - 17:00 Others - - - - - R. Macdonell, F. Lublin, G. Comi, M.S. Teriflunomide reduces relapse-related sequelae, P 1095 Freedman, L. Kappos, M. Mäurer, A. Miller, severe relapses, hospitalisations and T.P. Olsson, J.S. Wolinsky, S. Bozzi, C. Dive- corticosteroid use: pooled data from the phase 3 Pouletty, P. O'Connor TEMSO and TOWER studies 15:30 - 17:00 Others - - - - - W. Camu, E. Thouvenot, M. Meinel, N. Influence of baseline clinical and demographic P 1101 Sfikas, P. Chin, D. Piani-Meier, D. Tomic, E. characteristics on disease evolution in the Verdun phase 3 FREEDOMS study in patients with relapsing remitting multiple sclerosis 15:30 - 17:00 Others - - - - - R. Rudick, H. Wiendl, L. Steinman, A. Bar- Efficacy and safety of AIN457 (secukinumab) in P 1103 Or, R. Bhore, D. Bennett, M. Bieniek, A. de patients with relapsing multiple sclerosis: design Vera, X. Montalban of an adaptive dose-ranging phase 2 study

15:30 - 17:00 Quality of life - - - - - M. Kita, R.J. Fox, R. Gold, G. Giovannoni, Interim analysis of quality of life in patients with P 1127 J.T. Phillips, S.P. Sarda, J. Kong, R. Zhang, relapsing remitting multiple sclerosis treated V. Viglietta, S.I. Sheikh, L. Kappos with BG-12 (dimethyl fumarate) in the ENDORSE study 18:00 - 18:05 Satellite Hall A P.S. Sorensen "Genzyme, a Sanofi Company: The challenges 222 Symposium of disease management in MS: navigating the changing landscape" - Welcome and 18:05 - 18:30 Satellite - - - - - G. Giovannoni "Genzyme, a Sanofi Company: The challenges 223 Symposium of disease management in MS: navigating the changing landscape" - Evolving considerations for patient management & treatment selection 18: 30 - 18:55 Satellite - - - - - P. Coyle, T. Ziemssen "Genzyme, a Sanofi Company: The challenges 224 Symposium of disease management in MS: navigating the changing landscape" - Highlights from the changing landscape in MS 19:15 - 19:30 Satellite Hall A H. Lassmann "Teva Neuroscience: Multiple sclerosis 225 Symposium management: Have we got the focus right?" - Pathogenesis of multiple sclerosis: looking back to the future 19:30 - 19:45 Satellite G. Cutter "Teva Neuroscience: Multiple sclerosis 226 Symposium management: Have we got the focus right?" - Treatment goals in multiple sclerosis: a moving target? 19:45 - 20:00 Satellite A. Thompson "Teva Neuroscience: Multiple sclerosis 227 Symposium management: Have we got the focus right?" - Putting the patient first: outcomes that matter

Source: ECTRIMS, Credit Suisse research

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 12 09 September 2013

Exhibit 12: Key Sessions – Saturday, October 5, 2013 Saturday, October 5, 2013 Time Event/Topic Location Authors Title ID 07:15 - 07:20 Satellite Hall B M. Trojano "Merck Serono: Grant for Multiple Sclerosis 228 Symposium Innovation Awards" - Introduction 07:20 - 07:35 Satellite Hall B P. Rieckmann "Merck Serono: Grant for Multiple Sclerosis 229 Symposium Innovation Awards" - MS treatment in the 21st century 07:35 - 07:55 Satellite Hall B - - - - - "Merck Serono: Grant for Multiple Sclerosis 230 Symposium Innovation Awards" - Vignette talks from recipients of the 2013 award 10:30 - 10:50 Closing Session Hall B S. Hauser Charcot Lecture - Beating MS: A story of B 239 cells, with twists and turns 10:50 - 11:10 Closing Session Hall B B. Kieseier ECTRIMS Highlights: trials 240

11:10 - 11:30 Closing Session Hall B A. Prat ECTRIMS Scientific Highlights 241

Source: ECTRIMS, Credit Suisse research

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 13 09 September 2013

Exhibit 13: Complete Planner – Wednesday, October 2, 2013 Wednesday, October 2, 2013 Time Event/Topic Location Authors Title ID 08:30 - 09:00 Teaching Course Hall A S. Fredrikson "How do I choose the correct disease-modifying 6 treatment for my MS patient?" - To treat or not to treat CIS and RRMS 08:30 - 09:00 Teaching Course Hall D D. Pelletier "Clinically isolated syndromes (CIS)" - Definition 9 of CIS: adults versus children 08:30 - 09:00 Teaching Course Hall G G.E. Holder "Electrodiagnostic examinations in MS" - Visual 18 electrophysiology (VEP, ERG) 09:00 - 09:30 Teaching Course Hall A R. Fox "How do I choose the correct disease-modifying 7 treatment for my MS patient?" - Choosing the right treatment for the individual patient 09:00 - 09:30 Teaching Course Hall D O. Ciccarelli "Clinically isolated syndromes (CIS)" - What are 10 the clinical, CSF, and MRI predictors of conversion to MS? 09:30 - 10:00 Teaching Course Hall A B. Kieseier "How do I choose the correct disease-modifying 8 treatment for my MS patient?" - When and how should treatment be switched or escalated? 09:30 - 10:00 Teaching Course Hall D M. Tintoré "Clinically isolated syndromes (CIS)" - Definition 11 of CIS: adults versus children - How can we treat and manage CIS patients? 09:30 - 10:00 Teaching Course Hall F M. Houtchens "Management of the pregnant MS patient" - 17 Therapeutic consideration during pregnancy 09:30 - 10:00 Teaching Course Hall G E.S. Papathanasiou "Electrodiagnostic examinations in MS" - 20 Evoked potentials 10:30 - 11:00 Teaching Course Hall C A. Rovira "MRI issues in clinical practice" - Use of brain 33 and spinal cord MRI for differential diagnosis 10:30 - 11:00 Teaching Course Hall F N. de Stefano "MRI relevance in neurodegeneration" - Brain 36 MRI: biomarkers of neurodegeneration 10:30 - 11:00 Teaching Course Hall G V. Entwistle "Shared decision making to improve treatment 39 decisions" - What is SDM? 10:30 - 11:00 Teaching Course Hall A P. Vermersch "Differential diagnoses and diagnostic dilemmas 21 in MS" - Diagnostic approach to multiple 11:00 - 11:30 Teaching Course Hall C M. Wattjes "MRI issues in clinical practice" - How and when 34 should brain and spinal cord MRI be performed in the diagnostic process? 11:00 - 11:30 Teaching Course Hall F M. Rocca "MRI relevance in neurodegeneration" - Spinal 37 cord MRI: biomarkers of neurodegeneration 11:00 - 11:30 Teaching Course Hall G C. Heesen "Shared decision making to improve treatment 40 decisions" - How can SDM be enhanced in MS? Patient-mediated interventions 11:30 - 12:00 Teaching Course Hall C X. Montalban "MRI issues in clinical practice" - MRI in 35 predicting treatment response: ready to be used in individual patients?

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 14 09 September 2013

Exhibit 14: Complete Planner – Wednesday, October 2, 2013 Wednesday, October 2, 2013 Time Event/Topic Location Authors Title ID 11:30 - 12:00 Teaching Course Hall F C. Enzinger "MRI relevance in neurodegeneration" - Imaging 38 of iron accumulation 11:30 - 12:00 Teaching Course Hall G A. Solari "Shared decision making to improve treatment 41 decisions" - How can SDM be enhanced in MS? Clinician-mediated interventions 12:30 - 13:00 European Charcot Hall A G. Ebers, A. Ascherio "The controversial role of vitamin D in multiple 42 Foundation sclerosis" - Is the evidence sufficient to give vitamin D to everybody in the general population to prevent multiple sclerosis? 13:00 - 13:30 European Charcot Hall A G. Edan, X. Montalban "The controversial role of vitamin D in multiple 44 Foundation sclerosis" - Clinical trials are necessary and feasible 16:12 - 16:24 Young Scientific Hall B L. Galleguillos Goiry, D. Henault, T.A. Relation between total peripheral blood 58 Investigators' Johnson, A. Bar-Or, J.P. Antel lymphocyte counts and T cell subset profiles in Session 2 FTY720-treated multiple sclerosis patients 17:15 - 17:35 Satellite Hall A H.-P. Hartung "Biogen Idec: Reinventing MS care – evolution" - 65 Symposium Tailoring choice: a drug for each patient at the right time 17:35 - 17:55 Satellite Hall A G. Giovannoni "Biogen Idec: Reinventing MS care – evolution" - 66 Symposium Silencing the disease from the start 17:55 - 18:15 Satellite Hall A P. Calabresi "Biogen Idec: Reinventing MS care – evolution" - 67 Symposium Advancing interferons for people with MS 18:30 - 18:35 Satellite Hall A D. Bates "Merck Serono: Supporting patient engagement 68 Symposium for optimized treatment management in MS" - Introduction 18:35 - 18:50 Satellite Hall A M.S. Freedman "Merck Serono: Supporting patient engagement 69 Symposium for optimized treatment management in MS" - Defining goals at the start of treatment 18:50 - 19:05 Satellite Hall A A. Feinstein "Merck Serono: Supporting patient engagement 70 Symposium for optimized treatment management in MS" - Understanding our patients: the importance of effective communication 19:05 - 19:20 Satellite Hall A A. Lugaresi "Merck Serono: Supporting patient engagement 71 Symposium for optimized treatment management in MS" - Engaging with patients to achieve treatment goals 19:20 - 19:30 Satellite Hall A D. Bates, D. Lowden "Merck Serono: Supporting patient engagement 72 Symposium for optimized treatment management in MS" - Discussion: patient engagement with MS treatments 18:30 - 19:30 Satellite Hall A D. Bates "Merck Serono: Supporting patient engagement 73 Symposium for optimized treatment management in MS" - Close

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 15 09 September 2013

Exhibit 15: Complete Planner – Thursday, October 3, 2013 Thursday, October 3, 2013 Time Event/Topic Location Authors Title ID 07:45 - 08:05 Satellite Hall A X. Montalban "Biogen Idec: Reinventing MS care – revolution" - 74 Symposium Defending the brain 08:05 - 08:25 Satellite Hall A T. Berger "Biogen Idec: Reinventing MS care – revolution" - 75 Symposium Returning mobility and QoL to people with MS 08:25 - 08:45 Satellite Hall A A. Sandrock Biogen Idec: Reinventing MS care – revolution - 76 Symposium The future is repair 09:30 - 10:15 Plenary Session 1 Hall A G. Comi "Welcome Address and ECTRIMS Lecture" - 81 Early treatment of multiple sclerosis 11:05 - 11:25 Window of Hall A J. Cohen Long-term benefits of MS treatment 95 opportunity in MS 11:49 - 12:01 Window of Hall A M. Romeo, V. Martinelli, M. Rodegher, L. Early predictors of long-term disability 98 opportunity in MS Moiola, B. Colombo, M.J. Messina, M. progression in relapsing remitting multiple treatment Radaelli, G. Comi sclerosis patients treated with disease- modifying treatments 12:01 - 12:13 Window of Hall A A. Miller, J. Wolinsky, L. Kappos, G. Comi, TOPIC main outcomes: efficacy and safety of 99 opportunity in MS M.S. Freedman, T. Olsson, A. Rugina, D. once-daily oral teriflunomide in patients with treatment Bauer, J. Delhay, B. Wamil, P. Truffinet, P. clinically isolated syndrome 13:00 - 13:15 Satellite Hall A P.S. Sorensen "Teva Neuroscience: Re-evaluating the treatment 105 Symposium algorithm in multiple sclerosis: emerging insights" - Welcome and introduction 13:15 - 13:30 Satellite Hall A F. Zipp "Teva Neuroscience: Re-evaluating the treatment 106 Symposium algorithm in multiple sclerosis: emerging insights" - Multiple sclerosis: changing concepts, new targets 13:30 - 13:45 Satellite Hall A P. Vermersch "Teva Neuroscience: Re-evaluating the treatment 107 Symposium algorithm in multiple sclerosis: emerging insights" - Treatment sequencing or treatment selection: time to re-evaluate our approach? 13:45 14:00 Satellite Hall A F. Lublin "Teva Neuroscience: Re-evaluating the treatment 108 Symposium algorithm in multiple sclerosis: emerging insights" - Older, but wiser? Re-evaluating the role of established multiple sclerosis therapies 14:15 - 14:35 Clinical and Hall A A. Rovira Magnetic resonance monitoring of lesion 121 paraclinical evolution in multiple sclerosis monitoring of MS evolution

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 16 09 September 2013

Exhibit 16: Complete Planner – Thursday, October 3, 2013 Thursday, October 3, 2013 Time Event/Topic Location Authors Title ID 14:55 - 15:07 MS and gender Hall D T. Kalincik, V. Vivek, V. Jokubaitis, J. Relapse incidence in women and men 111 Lechner-Scott, M. Trojano, G. Izquierdo, A. throughout the course of multiple sclerosis: an Lugaresi, F. Grand'Maison, R. Hupperts, C. MSBase cohort study Oreja-Guevara, R. Bergamaschi, G. Iuliano, R. Alroughani, V. Van Pesch, M.P. Amato, M. Slee, F. Verheul, R. Fernandez-Bolanos, M. Fiol, D. La Spitaleri, E. Cristiano, O. Gray, J. Cabrera-Gomez, V. Shaygannejad, J. Herbert, S. Vucic, M. Needham, T. Petkovska- Boskova, C. Sirbu, P. Duquette, M. Girard, P. Grammond, C. Boz, G. Giuliani, M. Rio, M. Barnett, S. Flechter, F. Moore, B. Singhal, E. Bacie Bacile, M. Saladino, C. Shaw, E. Skromne, N. Vella, T. Spelman, D. Liew, T. Kilpatrick, H. Butzkueven on behalf of the 15:31 - 15:43 MS and gender Hall D K. Hellwig, G. Koren, H. Butzkueven, H. Cumulative data on pregnancy outcomes after 114 Tilson, S. Hernández-Diaz, T. Macdonald, E. exposure to fingolimod Kornyeyeva, E. Plana, Y. Lu, M. Cremer, R.K Amar, R. Schlosshauer, W. Collins, Y. Geissbühler, G. Karlsson 15:45 - 17:00 Economic burden - - - - - C Carroll, K. Fairman, M. Lage Medical and pharmacy costs for US patients P 352 with multiple sclerosis in 2011 15:45 - 17:00 Experimental - - - - - R. Peach, J. Brooks, H. Dedman, R. Powell, RPC1063, a potent and selective sphingosine 1- P 375 models F. Scott, G. Timony phosphate 1 receptor modulator, has a favourable preclinical safety profile 15:45 - 17:00 Experimental - - - - - B. Hu, K-F. So, B. Pepinsky, S. Mi Blocking LINGO1 promotes axonal regeneration P 378 models in the rat optic nerve crush model 15:45 - 17:00 Immunomodulation/ - - - - - R. Bermel, R. Hashmonay, X. Meng, S. Fingolimod first-dose effects in patients with P 511 Immunosuppression Randhawa, P. Von Rosenstiel, N. Sfikas, D. relapsing multiple sclerosis concomitantly Kantor treated with serotonin-specific reuptake 15:45 - 17:00 Immunomodulation/ - - - - - G. Comi, R. Gold, L. Kappos, P. Von Relapse and safety outcomes in patients who P 513 Immunosuppression Rosenstiel, A. Sinha, D. Tomic transitioned from glatiramer acetate or interferon beta to fingolimod in the open-label FIRST study 15:45 - 17:00 Immunomodulation/ - - - - - P. Calabresi, B. Kieseier, D. Arnold, L. Peginterferon beta-1a provides improvements in P 514 Immunosuppression Balcer, A. Boyko, J. Pelletier, S. Liu, Y. Zhu, clinical and radiological disease activity in X. You, A. Seddighzadeh, B. Sperling, S. relapsing-remitting multiple sclerosis: year 1 Hung, A. Deykin findings from the phase 3 ADVANCE study

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 17 09 September 2013

Exhibit 17: Complete Planner – Thursday, October 3, 2013 Thursday, October 3, 2013 Time Event/Topic Location Authors Title ID 15:45 - 17:00 Immunomodulation/ - - - - - P.S. Sorensen, D.L. Arnold, J.A. Cohen, E.J. Lymphocyte counts and efficacy outcomes after P 515 Immunosuppression Fox, H.-P. Hartung, E. Havrdova, K. Selmaj, alemtuzumab in relapsing remitting multiple H. Weiner, J. Palmer, D.H. Margolin, M.A. sclerosis patients: the CARE-MS studies Panzara, D.A.S. Compston, A.J. Coles

15:45 - 17:00 Immunomodulation/ - - - - - F. Barkhof, J.A. Cohen, E. Radue, L. Kappos, Brain volume changes, on-study correlations P 518 Immunosuppression P. Calabresi, D. Häring, N. Sfikas, P. Von and the link to disability in three fingolimod Rosenstiel, G. Francis phase 3 studies 15:45 - 17:00 Immunomodulation/ - - - - - E. Havrdova, D. Bates, S. Galetta, G. Effects of natalizumab treatment on freedom P 519 Immunosuppression Giovannoni, M. Hutchinson, F. Lublin, P. from disease activity by baseline characteristics O’Connor, F. Pellegrini, J. Phillips, C. in AFFIRM Polman, H. Wiendl, S. Belachew, R. Patel, A. Pace 15:45 - 17:00 Immunomodulation/ - - - - - E. Havrdova, A. Belova, A. Goloborodko, A. Sensitivity analysis of a phase IIa study of P 520 Immunosuppression Tisserant, A. Wright, H. Garren, E. secukinumab in relapsing remitting multiple Wallstroem, A. de Vera, D.R. Johns sclerosis 15:45 - 17:00 Immunomodulation/ - - - - - E. Havrdova, R. Gold, R.J. Fox, L. Kappos, Effect of BG-12 (dimethyl fumarate) on freedom P 521 Immunosuppression J.T. Phillips, A. Zhang, N.C. Kurukulasuriya, from measured clinical and neuroradiological S.I. Sheikh, V. Viglietta, G. Giovannoni disease activity over time in patients with relapsing remitting multiple sclerosis: results from the phase 3 studies 15:45 - 17:00 Immunomodulation/ - - - - - O. Khan, B.A.C. Cree, P. Cabre, M. Inglese, The efficacy and safety of fingolimod in an P 522 Immunosuppression J. Perumal, X. Meng, R. Hashmonay, L. African-American patient subgroup from Barbato, P.K. Coyle FREEDOMS II 15:45 - 17:00 Immunomodulation/ - - - - - T. Ziemssen, D.L. Arnold, J.A. Cohen, A.J. Immunogenicity of alemtuzumab does not P 523 Immunosuppression Coles, E.J. Fox, H.-P. Hartung, E. Havrdova, impact safety and efficacy in relapsing remitting K.W. Selmaj, H.L. Weiner, J. Palmer, D.H. multiple sclerosis patients in the CARE-MS I Margolin, S. Richards, C. Sung, M.A. study Panzara, D.A.S. Compston 15:45 - 17:00 Immunomodulation/ - - - - - F. Lublin, G. Cutter, G. Giovannoni, C. Natalizumab reduces the disabling amplitude of P 524 Immunosuppression Polman, D. Paes, R. Patel, J. Sun, S. multiple sclerosis relapses and improves post- Belachew relapse residual disability 15:45 - 17:00 Immunomodulation/ - - - - - E. Radue, E. Havrodova, M. McNeill, K. Decrease in T1 black hole volume over 2 years P 525 Immunosuppression Riester, J. Elkins of daclizumab high-yield process treatment

15:45 - 17:00 Immunomodulation/ - - - - - E. Radue, J.A. Cohen, F. Barkhof, L. Kappos, Baseline predictors of brain atrophy in phase 3 P 526 Immunosuppression P. Calabresi, D. Häring, N. Sfikas, P. Von studies of fingolimod Rosenstiel, G. Francis

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 18 09 September 2013

Exhibit 18: Complete Planner – Thursday, October 3, 2013 Thursday, October 3, 2013 Time Event/Topic Location Authors Title ID 15:45 - 17:00 Immunomodulation/ - - - - - J. Woodworth, P. Duda, E. Fox, N. Lucas, T. Comparative pharmacokinetics and P 529 Immunosuppression Plavina pharmacodynamics of subcutaneous and intravenous administration of natalizumab 15:45 - 17:00 Immunomodulation/ - - - - - L.H. Kasper, D.L. Arnold, J.A. Cohen, A.J. Lymphocyte subset dynamics following P 531 Immunosuppression Coles, E.J. Fox, H.-P. Hartung, E. Havrdova, alemtuzumab treatment in the CARE-MS II K.W. Selmaj, H.L. Weiner, J. Palmer, D.H. study Margolin, M.A. Panzara, D.A.S. Compston

15:45 - 17:00 Immunomodulation/ - - - - - K. Selmaj, R. Gold, R. J. Fox, E. Havrdova, Flushing and gastrointestinal tolerability events P 537 Immunosuppression G. Giovannoni, A. Pace, M. Novas, L. in relapsing remitting multiple sclerosis (RRMS) Meltzer, C. Hotermans, V. Viglietta, J. T. patients treated with oral BG-12 dimethyl Phillips fumarate) in the phase 3 DEFINE and CONFIRM trials 15:45 - 17:00 Immunomodulation/ - - - - - R. Gold, J. T. Phillips, A. Bar-Or, M. Three-year follow-up of oral BG-12 (dimethyl P 538 Immunosuppression Hutchinson, L. Kappos, R. Zhang, M. Yang, fumarate) treatment in relapsing remitting V. Viglietta, S. I. Sheikh, R. J. Fox multiple sclerosis (RRMS): integrated clinical efficacy data from the DEFINE, CONFIRM, and ENDORSE studies 15:45 - 17:00 Immunomodulation/ - - - - - B. Kieseier, P. Calabresi, D. Arnold, Y. Zhu, Subgroup and sensitivity analyses of the primary P 539 Immunosuppression S. Liu, S. Hung, A. Deykin, S. Sheikh endpoint from the peginterferon beta-1a ADVANCE study: a pivotal phase 3 study in patients with relapsing-remitting multiple sclerosis 15:45 - 17:00 Immunomodulation/ - - - - - B. Kieseier, P. Calabresi, S. Liu, Y. Zhu, X. Effect of peginterferon beta-1a on disability P 540 Immunosuppression You, B. Sperling, S. Sheikh, S. Hung, A. progression in patients with relapsing remitting Deykin multiple sclerosis: year 1 data from the pivotal phase 3 ADVANCE study 15:45 - 17:00 Immunomodulation/ - - - - - B. Kieseier, O. Stüve, M. Benamor, J. Updated pregnancy outcomes from the P 541 Immunosuppression Delhay, P. Truffinet teriflunomide clinical development programme: retrospective analysis of the teriflunomide clinical trial database

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 19 09 September 2013

Exhibit 19: Complete Planner – Thursday, October 3, 2013 Thursday, October 3, 2013 Time Event/Topic Location Authors Title ID 15:45 - 17:00 Immunomodulation/ - - - - - M. Freedman, J. Wolinsky, G. Comi, L. Long-term safety and efficacy of teriflunomide in P 544 Immunosuppression Kappos, T. Olsson, A. Miller, M. Benamor, D. patients with relapsing forms of multiple Dukovic, J. Liang, P. Truffinet, P. O'Connor sclerosis in the TEMSO extension trial

15:45 - 17:00 Immunomodulation/ - - - - - D. Cadavid, I. Melamed, H. Gevorkyan, N. The use of magnetic resonance imaging to P 545 Immunosuppression Richert monitor the safety of anti-LINGO-1: findings from phase 1 studies in healthy volunteers and subjects with multiple sclerosis 15:45 - 17:00 Immunomodulation/ - - - - - T. Vollmer, F. Zipp, A. Bar-Or, B. Due, K. Magnetic resonance imaging measures of P 547 Immunosuppression Thangavelu, T.Z. Fischer, K. Selmaj on behalf efficacy in patients with multiple sclerosis of the DreaMS study investigators receiving ONO-4641, a sphingosine-1-phosphate receptor-1 and -5 agonist: interim results from an extension of the DreaMS study 15:45 - 17:00 Immunomodulation/ - - - - - J. T. Phillips, M. Hutchinson, R. Fox, R. Gold, Management strategies for fushing and P 549 Immunosuppression E. Havrdova gastrointestinal events associated with BG-12 (dimethyl fumarate): expert panel recommendations 15:45 - 17:00 Immunomodulation/ - - - - - S.Y. Hong, J. Park, W. Park, H. Park, D. Efficacy and safety of LC510201, an orally P 552 Immunosuppression Park, J. Choi, S. Baek, J. Park, H. Park active, selective sphingosine-1-phosphate receptor 1 (S1P1) and -5 (S1P5) agonist, in preclinical models of multiple sclerosis 15:45 - 17:00 Immunomodulation/ - - - - - K. R. Edwards, H. Crayton, J. Calkwood, N. Patient- and physician-reported outcomes after P 555 Immunosuppression Agashivala, S. Li, P. Chin, S. Randhawa therapy switch from interferon beta to fingolimod versus staying on interferon beta therapy

15:45 - 17:00 Immunomodulation/ - - - - - M. Hutchinson, R. Gold, R. J. Fox, E. Clinical efficacy of BG-12 (dimethyl fumarate) for P 563 Immunosuppression Havrdova, G. Giovannoni, A. Zhang, C. relapsing remitting multiple sclerosis according Hotermans, M. Stephan, A. Bar-Or to prior therapy: an integrated analysis of the phase 3 DEFINE and CONFIRM studies

15:45 - 17:00 Immunomodulation/ - - - - - U. Schulze-Topphoff, M. Varrin-Doyer, K. Dimethyl fumarate utilizes Nrf2-independent and Immunosuppression Pekarek, R. H. Scannevin, S. S. Zamvil Nrf2-dependent pathways for immune modulation

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 20 09 September 2013

Exhibit 20: Complete Planner – Thursday, October 3, 2013 Thursday, October 3, 2013 Time Event/Topic Location Authors Title ID 15:45 - 17:00 Neuroprotection - - - - - B. Parodi, C. Cordano, D. Giunti, C. Usai, N. Monomethylfumarate induces a switch of Kerlero de Rosbo, R. Scannevin, A. Uccelli activated microglia from a pro-inflammatory to a neuroprotective phenotype 15:45 - 17:00 Long-term treatment - - - - - C. Ford, D. Ladkani on behalf of the US Open- Twenty years of continuous treatment of multiple P 577 monitoring Label Glatiramer Acetate Study Group sclerosis with glatiramer acetate 20mg daily: long-term clinical results of the US open-label extension study 15:45 - 17:00 Long-term treatment - - - - - H.-P. Hartung, D.L. Arnold, J.A. Cohen, A.J. Reduction of disability with alemtuzumab in P 592 monitoring Coles, E.J. Fox, E. Havrdova, K.W. Selmaj, relapsing remitting multiple sclerosis patients H.L. Weiner, J. Palmer, D.H. Margolin, M.A. who participated in CARE-MS II: three year Panzara, D.A.S. Compston follow-up 15:45 - 17:00 Long-term treatment - - - - - R. Rudick, A. Goodman, L. Kappos, F. Six-year natalizumab safety and efficacy data P 593 monitoring Lublin, P. O’Connor, C. Polman, F. Forrestal, from the STRATA study M. Chirieac, P. Duda 15:45 - 17:00 Risk management - - - - - J. White, P. Calabresi, Y. Zhu, T. Song, A. Immunogenicity with peginterferon beta-1a in P 600 for disease Seddighzadeh, S. Hung , A. Deykin, M. patients with relapsing-remitting multiple modifying Subramanyam sclerosis: data from the pivotal phase 3 treatments ADVANCE study 15:45 - 17:00 Risk management - - - - - V. Limmroth, S. Hoyer, K. Schuh, M. Lang, Good cardiac safety profile after fingolimod P 602 for disease O. Hoffmann, T. Ziemssen (Gilenya®) treatment initiation in patients with modifying relapsing remitting multiple sclerosis: first treatments interim analysis of the START study 15:45 - 17:00 Risk management - - - - - E. Havrdova, D.L. Arnold, J.A. Cohen, A.J. Infection risk with alemtuzumab in patients with P 603 for disease Coles, E.J. Fox, H.-P. Hartung, K. Selmaj, relapsing remitting multiple sclerosis: pooled modifying H.L. Weiner, J. Palmer, D.H. Margolin, P. results from the CARE-MS I and CARE-MS II treatments Oyuela, M.A. Panzara, D.A.S. Compston trials 15:45 - 17:00 Tools for detecting - - - - - M.P. Sormani, E.W, Radue, N De Stefano, T. Does the effect of fingolimod on brain atrophy P 611 therapeutic Sprenger, P. Chin, G. Francis, L. Kappos independently contribute to effects on disability? response A patient-level analysis of the FREEDOMS study 15:45 - 17:00 Treatment of - - - - - S.F. Hunter, H.M. Hunter, D. Kantor Phase 1 trial monitoring response to P 616 progressive MS alemtuzumab (ALE) in naive and ALE- experienced subjects with refractory multiple sclerosis (MS)

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 21 09 September 2013

Exhibit 21: Complete Planner – Thursday, October 3, 2013 Thursday, October 3, 2013 Time Event/Topic Location Authors Title ID 15:45 - 17:00 Others - - - - - L. Kappos, G. Comi, M.S. Freedman, A.E. Pooled efficacy data from two phase 3 placebo- P 618 Miller, T.P. Olsson, J.S. Wolinsky, P. controlled trials of oral, once-daily teriflunomide Truffinet, S. Cavalier, J.-L. Delhay, D. Dukovic, P. O’Connor 15:45 - 17:00 Others - - - - - L. Kappos, E. W. Radue, P. Connor, M.P. Switching therapy to fingolimod improves clinical P 619 Amato, L. Zhang-Auberson, D. A. Häring, G. and MRI outcomes: subgroup analysis from the Francis fingolimod phase III FREEDOMS extension (up to four years) study 15:45 - 17:00 Others - - - - - J. Cohen, J. Pelletier, P. Chin, N. Sfikas, G. Efficacy of fingolimod in relapsing remitting P 620 Karlsson, P. von Rosenstiel, L. Kappos multiple sclerosis (RRMS) as measured by multiple sclerosis functional composite: results from the TRANSFORMS, FREEDOMS, and FREEDOMS II phase 3 studies

15:45 - 17:00 Others - - - - - K. Shakeri-Nejad, B. Brendani, N. Pezous, L. Placebo-like occurrence of atrioventricular P 626 Mooney, A. Juan, M. Allison, R.G. Perry, E. blocks and sinus pauses: results from a Legangneux siponimod QT/QTc study 15:45 - 17:00 Others - - - - - S. Biswal, U.K. Veldandi, C. Derne, G. Golla, Effect of oral siponimod (BAF312) on the P 627 N. Muhsen, K. Shakeri-Nejad, E. Legangneux pharmacokinetics and pharmacodynamics of a monophasic oral contraceptive in healthy female subjects 15:45 - 17:00 Others - - - - - H. Zwibel, P. Coyle, B. Cohen, C. Markowitz, Multiple sclerosis therapy adherence and P 631 M. Tullman, T. Leist, M. Oleen-Burkey, M. relapse risk among those switching versus Schwartz maintaining therapies in the TOP MS study 15:45 - 17:00 Others - - - - - T. Leist, M. Freedman, L. Kappos, T. Olsson, Pooled safety data from three placebo-controlled P 633 A. Miller, J. Wolinsky, P. O'Connor, M. teriflunomide studies Benamor, J. Delhay, P. Truffinet, D. Dukovic, J. Li, G. Comi 15:45 - 17:00 Others - - - - - N. Bergvall, R. Lahoz, N. Agashivala, A. Relapse rates among patients with multiple P 635 Pradhan, G. Capkun-Niggli, J. R. Korn, A. A. sclerosis who switch from interferon therapy to Petrilla, S. U. Karkare, C. Balderston fingolimod or glatiramer acetate: a retrospective McGuiness, C. Makin US claims database analysis 15:45 - 17:00 Others - - - - - N. Bergvall, M. Costa-Scharplatz, R. Hettle, Cost-effectiveness of fingolimod compared to P 636 M. Tambour, F. Henriksson, S. Fredrikson interferon beta 1a based on patient transitions in TRANSFORMS

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 22 09 September 2013

Exhibit 22: Complete Planner – Thursday, October 3, 2013 Thursday, October 3, 2013 Time Event/Topic Location Authors Title ID 15:45 - 17:00 Others - - - - - N. Bergvall, R. Lahoz, N. Agashivala, A. Relapse rates among patients with a history of P 637 Pradhan, G. Capkun-Niggli, J. R. Korn, A. A. relapses treated with fingolimod compared with Petrilla, S. U. Karkare, C. Balderston interferons or glatiramer acetate for the McGuiness, C. Makin treatment of multiple sclerosis: a retrospective US claims database analysis 15:45 - 17:00 Treatment of - - - - - V. Brinar, D.L. Arnold, J. Cohen, A.J. Coles, Alemtuzumab improves expanded disability P 649 specific symptoms E.J. Fox, H.-P. Hartung, E. Havrdova, K. status scale (EDSS) via effects on functional Selmaj, H. Weiner, J. Palmer, D.H. Margolin, systems: CARE-MS II M.A. Panzara, D.A.S. Compston 15:45 - 17:00 Treatment of - - - - - J. O'Gorman, H. Russell, J. Li, G. Phillips, C. Effect of Aspirin pretreatment or slow dose P 651 specific symptoms Hotermans, N. C. Kurukulasuriya, V. Viglietta titration on the incidence and severity of flushing and gastrointestinal events associated with BG- 12 (dimethyl fumarate) 15:45 - 17:00 Quality of life - - - - - S. Sarda, G. Phillips, J. A. Gaebler, N. C. Health-related quality of life in relapsing remitting P 662 Kurukulasuriya multiple sclerosis (RRMS) patients treated with placebo or BG-12 (dimethyl fumarate): comparison with other medical conditions

15:45 - 17:00 Quality of life - - - - - R. Macdonell, P.S. Sorensen, C. Pozzilli, G. Long-term prolonged-release fampridine P 665 Nagels, D. Laplaud, B. de Jong, A. Martins treatment and health-related quality of life Silva, R. Nicholas, J.A. Gaebler, S. Agarwal, outcomes: nine-month interim analysis of the J. Sun ENABLE study 15:45 - 17:00 Quality of life - - - - - C. Pozzilli, R. Macdonell, P.S. Sorensen, G. Health-related quality of life outcomes following P 658 Nagels, D. Laplaud, B. de Jong, A. Martins long-term treatment with prolonged-release Silva, R. Nicholas, J. Gaebler, J. Sun fampridine: impact on psychological outcomes in the ENABLE study

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 23 09 September 2013

Exhibit 23: Complete Planner – Thursday, October 3, 2013 Thursday, October 3, 2013 Time Event/Topic Location Authors Title ID 15:45 - 17:00 Hot Topic Hall A M.P. Sormani "Can immunomodulatory treatment change the 135 natural history of MS?" - Can we measure long- term treatment effects in MS? 15:45 - 17:00 Hot Topic Hall A N. Koch-Henriksen "Can immunomodulatory treatment change the 136 natural history of MS?" - Use of historical controls to compare treatment effects in MS 18:05 - 18:20 Satellite Hall A H. Wiendl "Medscape Education: Evolving the 142 Symposium management of MS: new insights and new directions" - The changing landscape for clinical decisions in managing RRMS with oral therapies 18:20 - 18:35 Satellite Hall B J. Sastre-Garriga "Medscape Education: Evolving the 143 Symposium management of MS: new insights and new directions" - Beyond reducing-relapses in RRMS: the importance of neuroprotection - 18:35 - 18:50 Satellite Hall B H. Butzkueven "Medscape Education: Evolving the 144 Symposium management of MS: new insights and new directions" - Balancing efficacy and safety in the 18:50 - 19:00 Satellite Hall B H. Wiendl "Medscape Education: Evolving the 145 Symposium management of MS: new insights and new directions" - Panel discussion and Q&A 19:15 - 19:30 Satellite Hall B F. Lublin "Bayer HealthCare: 25 years of partnership: 146 Symposium working towards a better future for patients with MS" - 25 Years of partnership: working towards a better future for patients with MS 19:30 - 19:50 Satellite Hall B M. Cascione "Bayer HealthCare: 25 years of partnership: 148 Symposium working towards a better future for patients with MS" - 25 Years of partnership: current focus 19:50 - 20:10 Satellite Hall B A. Chan "Bayer HealthCare: 25 years of partnership: 149 Symposium working towards a better future for patients with MS" - 25 Years of partnership: continuous efforts to improve MS patient support

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 24 09 September 2013

Exhibit 24: Complete Planner – Friday, October 4, 2013 Friday, October 4, 2013 Time Event/Topic Location Authors Title ID 08:00 - 08:05 Satellite Hall B H.-P. Hartung F. Hoffmann- La Roche Ltd: Selective targeting 150 Symposium of B Cells: establishing a new horizon for multiple sclerosis treatment - Welcome and introduction 08:05 - 08:20 Satellite Hall B A. Bar-Or F. Hoffmann- La Roche Ltd: Selective targeting 151 Symposium of B Cells: establishing a new horizon for multiple sclerosis treatment - B cells as key players in the pathobiology of multiple sclerosis

08:20 - 08:35 Satellite Hall B A. Chan F. Hoffmann- La Roche Ltd: Selective targeting 152 Symposium of B Cells: establishing a new horizon for multiple sclerosis treatment - Mechanisms of anti-CD20 antibodies in autoimmune diseases 08:35 - 08:50 Satellite Hall B S. Hauser F. Hoffmann- La Roche Ltd: Selective targeting 153 Symposium of B Cells: establishing a new horizon for multiple sclerosis treatment - Selective targeting of B cells with ACD20: a promising future for multiple sclerosis therapies? 08:50 - 09:00 Satellite Hall B H.-P. Hartung F. Hoffmann- La Roche Ltd: Selective targeting 154 Symposium of B Cells: establishing a new horizon for multiple sclerosis treatment - Question and answer session 09:39 - 09:51 Free Hall D L. Kappos, E. W. Radue, G. Comi, X. Disease control and safety in relapsing-remitting 167 Communications 3 Montalban, H. Butzkueven, H. Wiendl, G. multiple sclerosis (RRMS) patients switching Giovannoni, Y. Naegelin, T. Sprenger, N. from natalizumab to fingolimod: a 32-week, rater- Mueller-Lenke, F. Dahlke, R. Gottschalk, P. and patient-blind, randomized, parallel-group von Rosenstiel, Y. Zhang, D. Tomic study (TOFINGO) 10:45 - 11:05 Management of risk Hall A P.S. Sørensen Is risk stratification possible with the new 176 in MS therapy treatments? 11:05 - 11:25 Management of risk Hall A R. Gold, B. Kieseier Occurrence and management of PML and IRIS 177 in MS therapy 11:25 - 11:37 Management of risk Hall A A. Voldsgaard, N. Koch-Henriksen, M. Cardiac and pulmonary effects related to 178 in MS therapy Magyari, P.S. Sørensen, A. Oturai initiation of fingolimod treatment 14:00 - 14:20 Progressive MS Hall A R. Fox From relapsing-remitting to secondary 195 progressive MS

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 25 09 September 2013

Exhibit 25: Complete Planner – Friday, October 4, 2013 Friday, October 4, 2013 Time Event/Topic Location Authors Title ID 14:20 - 14:40 Progressive MS Hall A F. Sellebjerg Therapeutic opportunities for progressive MS 196 14:20 - 14:40 Looking into the Hall D L. Kappos What is in the pipeline? 208 future: experimental studies of new therapies

14:40 - 14:52 Looking into the Hall D S.H. Nye, S. Medicetty, B.D. Trapp, J.G. NDC-1308 induces remyelination in 209 future: experimental Yarger experimental models of multiple sclerosis studies of new therapies

15:30 - 17:00 Diagnosis and - - - - - A. Tourbah, N. Caucheteux, M. Genevray, E. Multiple sclerosis diagnosis at the first MRI: is P 723 differential diagnosis Leray, L. Daelman, R. Deschamps, J. Ferré, there still space for temporal dissemination? O. Gout, A. Maarouf, J. Pelletier, G. Edan

15:30 - 17:00 Epidemiology - - - - - N. Makhani, S. Morrow, J. Fisk, C. Evans, Trends in multiple sclerosis incidence and P 770 S.G. Beland, S. Kulaga, E. Kingwell, J. prevalence in Africa, Asia, Australia and New Marriott, J. Dykeman, N. Jetté, T. Pringsheim, Zealand: a systematic review C. Wolfson, R.A. Marrie, M. Koch

15:30 - 17:00 Economic burden - - - - - S. Moser, S. Ortler, T. van Lokven, W. Pharmacoeconomic and clinical characteristics P 807 Hoffmann, T. Ziemssen in patients with multiple sclerosis treated with disease modifying therapies (PEARL): 12 month interim results 15:30 - 17:00 Immunology - - - - - G. Giovannoni, A. Mikulskis, M. McNeil, K. Evaluation of immunogenicity in multiple P 864 Riester, M. Sweetser, J. Elkins, L. Amaravadi sclerosis patients continuously treated with daclizumab-HYP during the SELECT and SELECTION clinical trials 15:30 - 17:00 Immunomodulation/ - - - - - T. Ziemssen, O. Bajenaru, A. Carrá, N. de COPTIMIZE: a two-year observational survey of P 973 Immunosuppression Klippel, J. de Sá, A. Edland, J. Frederiksen, patients with relapsing remitting multiple O. Heinzlef, K. Karageorgiou, A.M. sclerosis switching to glatiramer acetate 20 mg Landtblom, M. Macías Islas, N. Tubridy, Y. daily Gilgun-Sherki 15:30 - 17:00 Immunomodulation/ - - - - - E.W. Radue, D. Stefoski, R. Gold, M. Reduction in brain atrophy with extended P 977 Immunosuppression McNeill, K. Riester, J. Elkins daclizumab HYP treatment: results of SELECT and the SELECT extension study

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 26 09 September 2013

Exhibit 26: Complete Planner – Friday, October 4, 2013 Friday, October 4, 2013 Time Event/Topic Location Authors Title ID 15:30 - 17:00 Immunomodulation/ - - - - - J. Hartung, A. Olson, R. Peach, M. Boehm, Results of a thorough QT/QTc (TQT) study of P 983 Immunosuppression B. Mendzelevski, D. Chanter, H. Smith, C. orally administered RPC1063, a novel, selective Pan, G. Timony, S. Gujrathi S1P1 receptor agonist, in healthy adult volunteers 15:30 - 17:00 Immunomodulation/ - - - - - D. Arnold, P. Calabresi, B. Kieseier, Y. Zhu, Magnetic resonance imaging results from the P 989 Immunosuppression S. Liu, S. Hung, A. Deykin, S. Sheikh first year of the ADVANCE study, a pivotal phase 3 trial of peginterferon beta-1a in patients with relapsing-remitting multiple sclerosis

15:30 - 17:00 Immunomodulation/ - - - - - R. Gold, G. Giovannoni, J. T. Phillips, R. J. Effect of BG-12 (dimethyl fumarate) in newly P 990 Immunosuppression Fox, A. Zhang, L. Meltzer, N. C. diagnosed relapsing remitting multiple sclerosis Kurukulasuriya (RRMS) patients from the DEFINE and CONFIRM studies 15:30 - 17:00 Immunomodulation/ - - - - - R. Gold, J. T. Phillips, E. Havrdova, A. Bar-Or, Oral BG-12 (dimethyl fumarate) and pregnancy: P 991 Immunosuppression L. Kappos, J. Clarke, H. Yuan, M. Novas, M. preclinical studies and pregnancy outcomes T. Sweetser, N. C. Kurukulasuriya, V. reported during the clinical development Viglietta, R. J. Fox programme 15:30 - 17:00 Immunomodulation/ - - - - - F. Zipp, T. Vollmer, A. Bar-Or, B. Due, K. Relapse rates in patients with multiple sclerosis P 992 Immunosuppression Thangavelu, T.Z. Fischer, K. Selmaj on behalf receiving ONO-4641, a sphingosine-1-phosphate of the DreaMS study investigators receptor-1 and -5 agonist: interim results from an extension of the DreaMS study 15:30 - 17:00 Immunomodulation/ - - - - - C. Pozzilli, Ó. Fernández, T. Olsson, M.S. Maintenance of efficacy, safety and tolerability P 995 Immunosuppression Freedman, M. Melanson, A. Boster, E.-W. of ponesimod in patients with relapsing remitting Radue, B. Hennessy, A. Rames, D. multiple sclerosis: phase II extension study D'Ambrosio 15:30 - 17:00 Immunomodulation/ - - - - - J.T. Phillips, R.J. Fox, K. Selmaj, M. Yang, Safety profile of BG-12 (dimethyl fumarate) in P 996 Immunosuppression R. Zhang, M. Novas, M.T. Sweetser, V. relapsing remitting multiple sclerosis: long-term Viglietta, R. Gold interim results from the ENDORSE extension study 15:30 - 17:00 Immunomodulation/ - - - - - A. Bar-Or, F. Zipp, T. Vollmer, B. Due, K. Safety of ONO-4641 in patients with relapsing P 997 Immunosuppression Thangavelu, J. Johnson, K. Selmaj on behalf remitting multiple sclerosis: results from a six- of the DreaMS study investigators month interim analysis of the DreaMS extension study

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 27 09 September 2013

Exhibit 27: Complete Planner – Friday, October 4, 2013 Friday, October 4, 2013 Time Event/Topic Location Authors Title ID 15:30 - 17:00 Immunomodulation/ - - - - - K. Jeanneau, G. Elain, A.K. Mir, K.K. Dev The Anti-IL17A monoclonal antibody P 998 Immunosuppression secukinumab (AIN457) attenuates IL17 and TNF- induced production of IL6 in human astrocytes

15:30 - 17:00 Immunomodulation/ - - - - - T. Dehmel, K. Wolffram, C. Warnke, D. The effects of fingolimod on peripheral blood P 999 Immunosuppression Hermsen, F. Boege, T. Bergstroem, M. mononuclear cell phenotypes and Pawlita, H.-P. Hartung, M. Diaz-Lorente, B. immunoglobulins: results from the BIOBANK C. Kieseier study 15:30 - 17:00 Immunomodulation/ - - - - - Y. Naegelin*, M. Rasenack*, N. Sanderson, An observational study evaluating disease P 1002 Immunosuppression M. Mehling, C. Sievers, B. Fischer-Barnicol, control, safety, and immunological changes in M. Andelova, C. Stippich, E-W. Radue, patients with relapsing remitting multiple R.L.P. Lindberg, L. Kappos, T. Sprenger, T. sclerosis switching from previous treatment with Derfuss natalizumab to fingolimod (SWITCH-UHBS)

15:30 - 17:00 Immunomodulation/ - - - - - D. H. Miller, R. J. Fox, R. Gold, E. Havrdova, Three-year follow-up of oral BG-12 (dimethyl P 1004 Immunosuppression L. Kappos, D. MacManus, T. Yousry, R. fumarate) treatment in relapsing remitting Zhang, M. Yang, V. Viglietta, S. I. Sheikh, K. multiple sclerosis (RRMS): integrated magnetic T. Dawson, D. L. Arnold resonance imaging (MRI) outcomes from DEFINE, CONFIRM, and ENDORSE 15:30 - 17:00 Immunomodulation/ - - - - - F. Bernard, D. Yu, A. Gray, U. Boschert, T. Efficacy of ONO-4641, a potent and selective P 1007 Immunosuppression Dellovade, D. Graham sphingosine-1-phosphate receptor-1 and -5 agonist, in a preclinical model of multiple sclerosis 15:30 - 17:00 Immunomodulation/ - - - - - M. Hutchinson, R.J. Fox, A. Bar-Or, E. Efficacy of BG-12 (dimethyl fumarate) in P 1013 Immunosuppression Havrdova, M. Yang, R. Zhang, V. Viglietta, relapsing remitting multiple sclerosis in patients S.I. Sheikh, R. Gold from Europe: an integrated analysis of the phase 3 DEFINE and CONFIRM studies 15:30 - 17:00 Immunomodulation/ - - - - - R. J. Fox, R. Gold, J. T. Phillips, K. Selmaj, Lymphocyte count reductions in relapsing P 1018 Immunosuppression K. Raghupathi, H. Yuan, J. O'Gorman, M. remitting multiple sclerosis (RRMS) patients Novas, V. Viglietta, N. C. Kurukulasuriya treated with oral BG-12 (dimethyl fumarate): integrated analysis of the placebo-controlled studies 15:30 - 17:00 Long-term treatment - - - - - H. Wiendl, H. Butzkueven, L. Kappos, F. Disease activity and disability progression P 1050 monitoring Pellegrini, M. Trojano, D. Paes, A. Zhang, S. decrease beyond two years on natalizumab in Belachew relapsing multiple sclerosis patients in the TYSABRI® (natalizumab) Observational Programme

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 28 09 September 2013

Exhibit 28: Complete Planner – Friday, October 4, 2013 Friday, October 4, 2013 Time Event/Topic Location Authors Title ID 15:30 - 17:00 Long-term treatment - - - - - L. Kappos, J. A Cohen, F. Barkhof, L. Relapse rates and disability remain consistently P 1052 monitoring Cappiello, Y. Zhang, P. Von Rosenstiel low with long-term fingolimod therapy: five-year interim results of the LONGTERMS extension study 15:30 - 17:00 Long-term treatment - - - - - J. Lycke, D.L. Arnold, J.A. Cohen, A.J. Coles, Adverse event profile of alemtuzumab in active P 1053 monitoring E.J. Fox, H.-P. Hartung, E. Havrdova, K.W. relapsing remitting multiple sclerosis patients Selmaj, H.L. Weiner, J. Palmer, D.H. who participated in the CARE-MS studies: three- Margolin, P. Oyuela, M.A. Panzara, D.A.S. year follow-up Compston 15:30 - 17:00 Long-term treatment - - - - - T. Vollmer, X. Montalban, G. Comi, T. Multicentre, randomized, placebo controlled P 1054 monitoring Ziemssen, A. Boyko, P. Vermersch, N. study to evaluate the efficacy, safety and Sasson, T. Gorfine, V. Knappertz, M. Filippi tolerability of two doses of oral laquinimod (0.6mg/day and 1.2mg/day) for the treatment of patients with relapsing remitting multiple sclerosis 15:30 - 17:00 Long-term treatment - - - - - T. Vollmer, P.S. Sorensen, K. Selmaj, F. Results of switching to laquinimod in the open- P 1055 monitoring Zipp, E. Havrdova, J. Cohen, Y. Sidi, T. label extension phase of the BRAVO study Gorfine, D. Arnold for the BRAVO Study Group 15:30 - 17:00 Long-term treatment - - - - - P.S. Sorensen, G. Cutter, T. Vollmer, G. The risk of disability progression is associated P 1057 monitoring Comi, D. Ladkani, N. Sasson, V. Knappertz with multiple sclerosis functional composite (MSFC) scores in the laquinimod phase 3 trials

15:30 - 17:00 Risk management - - - - - B. Kieseier, P. Calabresi, T. Song, Y. Zhu, S. Safety and tolerability of peginterferon beta-1a in P 1061 for disease Hung, A. Deykin, A. Seddighzadeh patients with relapsing-remitting multiple modifying sclerosis: data from the pivotal phase 3 treatments ADVANCE study 15:30 - 17:00 Tools for detecting - - - - - M.P. Sormani, G. Cutter, G. Comi, T. Evaluating the relationship between laquinimod's P 1080 therapeutic Vollmer, P.S. Sorensen, D. Ladkani, N. effects on relapse and disability progression response Sasson, V. Knappertz 15:30 - 17:00 Treatment of - - - - - D. Mikol, M. S. Freedman, M. D. Goldman, H- ASCEND study of natalizumab efficacy on P 1087 progressive MS P Hartung, E. Havrdova, D. Jeffery, R. Kapoor, reducing disability in patients with secondary A. Miller, F. Sellebjerg, S. Lee, Y. Chen, D. progressive multiple sclerosis: baseline Cadavid, B. Ticho demographics and disease characteristics

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 29 09 September 2013

Exhibit 29: Complete Planner – Friday, October 4, 2013 Friday, October 4, 2013 Time Event/Topic Location Authors Title ID 15:30 - 17:00 Treatment of - - - - - D. Cadavid, B. Brochet, G.L. Mancardi, U. The MS-COG, a novel endpoint for measurement P 1088 progressive MS Nocentini, T. Kaushik, L. Xu, Y. Chen, D. of cognitive function in multiple sclerosis clinical Mikol, B. Ticho trials: baseline characteristics of the cognitive substudy of the ASCEND natalizumab secondary progressive multiple sclerosis study

15:30 - 17:00 Others - - - - - A. Laroni, D. Brogi, V. Brescia Morra, L. Safety of the first dose of fingolimod for multiple P 1091 Guidi, C. Pozzilli, G. Comi, A. Lugaresi, R. sclerosis: results of an open-label clinical trial Turrini, D. Raimondi, A. Uccelli, G. Mancardi for the EAP Investigators 15:30 - 17:00 Others - - - - - A. T. Reder, D. Jeffery, D. Goodin, L. Kappos, Long-term efficacy of fingolimod in patients with P 1092 F. D. Lublin, E. W. Radue, K. Rammohan, T. relapsing remitting multiple sclerosis: results Vollmer, M. A. Agius, T. Stites, B. Li, L. from the phase 3 FREEDOMS II extension Cappiello, P. von Rosenstiel, P. A. Calabresi study

15:30 - 17:00 Others - - - - - M. Mäurer, F. Lublin, G. Comi, M. Freedman, Impact of severe relapses on disability, fatigue P 1093 L. Kappos, A. Miller, T. Olsson, J. Wolinsky, and health-related quality of life outcomes: a C. Dive-Pouletty, S. Bozzi, P. O'Connor pooled dataset of the phase 3 TEMSO and TOWER studies 15:30 - 17:00 Others - - - - - R. Macdonell, F. Lublin, G. Comi, M.S. Teriflunomide reduces relapse-related sequelae, P 1095 Freedman, L. Kappos, M. Mäurer, A. Miller, severe relapses, hospitalisations and T.P. Olsson, J.S. Wolinsky, S. Bozzi, C. Dive- corticosteroid use: pooled data from the phase 3 Pouletty, P. O'Connor TEMSO and TOWER studies 15:30 - 17:00 Others - - - - - W. Camu, E. Thouvenot, M. Meinel, N. Influence of baseline clinical and demographic P 1101 Sfikas, P. Chin, D. Piani-Meier, D. Tomic, E. characteristics on disease evolution in the Verdun phase 3 FREEDOMS study in patients with relapsing remitting multiple sclerosis 15:30 - 17:00 Others - - - - - R. Rudick, H. Wiendl, L. Steinman, A. Bar- Efficacy and safety of AIN457 (secukinumab) in P 1103 Or, R. Bhore, D. Bennett, M. Bieniek, A. de patients with relapsing multiple sclerosis: design Vera, X. Montalban of an adaptive dose-ranging phase 2 study

15:30 - 17:00 Others - - - - - N. Bergvall, R. Nixon, D. Tomic, N. Sfikas, G. Efficacy of oral fingolimod versus dimethyl P 1105 Cutter, G. Giovannoni fumarate on measures of freedom from disease activity in patients with multiple sclerosis, based on indirect comparisons of phase 3 trials

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 30 09 September 2013

Exhibit 30: Complete Planner – Friday, October 4, 2013 Friday, October 4, 2013 Time Event/Topic Location Authors Title ID 15:30 - 17:00 Others - - - - - N. Bergvall, R. Lahoz, N. Agashivala, A. Persistence and adherence of fingolimod P 1107 Pradhan, G. Capkun-Niggli, J. R. Korn, A. A. compared with other disease modifying Petrilla, S. U. Karkare, C. Balderston therapies for the treatment of multiple sclerosis: McGuiness, C. Makin a retrospective US claims database analysis

15:30 - 17:00 Treatment of - - - - - S. Belachew, C. Hotermans, D. Paes, X. You Effects of natalizumab on measures of P 1120 specific symptoms ambulation in relapsing remitting multiple sclerosis patients in the prospective, open-label TIMER study 15:30 - 17:00 Quality of life - - - - - M. Kita, R.J. Fox, R. Gold, G. Giovannoni, Interim analysis of quality of life in patients with P 1127 J.T. Phillips, S.P. Sarda, J. Kong, R. Zhang, relapsing remitting multiple sclerosis treated V. Viglietta, S.I. Sheikh, L. Kappos with BG-12 (dimethyl fumarate) in the ENDORSE study 15:30 - 17:00 Quality of life - - - - - P.S. Sorensen, R. Macdonell, C. Pozzilli, G. Changes in physical functioning and activity P 1128 Nagels, D. Laplaud, B. de Jong, A. Martins following long-term treatment with prolonged- Silva, R. Nicholas, J. Gaebler, S. Agarwal, J. release fampridine in the ENABLE study Sun 15:30 - 17:00 Late Breaking News - - - - - I.B. Bruinsma, S. van Vugt, H. ter Burg, T. miR-219: clinical implications for MS? P 1191 van de Lisdonk, E.J. Kooi, S.E. Baranzini, X. Ji, R.A. Sobel, J.J.G. Geurts, L. Steinman, B.A. de Jong 15:30 - 17:00 Late Breaking News - - - - - J.O. Watzlawik, A.E. Warrington, M. rHIgM22 stimulates remyelination in chronically P 1194 Rodriguez demyelinated spinal cord lesions through a single minimal dose 15:30 - 17:00 Late Breaking News - - - - - J.O. Watzlawik, A.E. Warrington, M. Growth factors PDGF and FGF-2 are required for P 1195 Rodriguez human recombinant rHIgM22-mediated stimulation of oligodendrocyte proliferation and survival 18:00 - 18:05 Satellite Hall A P.S. Sorensen "Genzyme, a Sanofi Company: The challenges 222 Symposium of disease management in MS: navigating the changing landscape" - Welcome and 18:05 - 18:30 Satellite - - - - - G. Giovannoni "Genzyme, a Sanofi Company: The challenges 223 Symposium of disease management in MS: navigating the changing landscape" - Evolving considerations for patient management & treatment selection 18: 30 - 18:55 Satellite - - - - - P. Coyle, T. Ziemssen "Genzyme, a Sanofi Company: The challenges 224 Symposium of disease management in MS: navigating the changing landscape" - Highlights from the changing landscape in MS

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 31 09 September 2013

Exhibit 31: Complete Planner – Friday, October 4, 2013 Friday, October 4, 2013 Time Event/Topic Location Authors Title ID 19:15 - 19:30 Satellite Hall A H. Lassmann "Teva Neuroscience: Multiple sclerosis 225 Symposium management: Have we got the focus right?" - Pathogenesis of multiple sclerosis: looking back to the future 19:30 - 19:45 Satellite G. Cutter "Teva Neuroscience: Multiple sclerosis 226 Symposium management: Have we got the focus right?" - Treatment goals in multiple sclerosis: a moving target? 19:45 - 20:00 Satellite A. Thompson "Teva Neuroscience: Multiple sclerosis 227 Symposium management: Have we got the focus right?" - Putting the patient first: outcomes that matter

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 32 09 September 2013

Exhibit 32: Complete Planner – Saturday, October 5, 2013 Saturday, October 5, 2013 Time Event/Topic Location Authors Title ID 07:15 - 07:20 Satellite Hall B M. Trojano "Merck Serono: Grant for Multiple Sclerosis 228 Symposium Innovation Awards" - Introduction 07:20 - 07:35 Satellite Hall B P. Rieckmann "Merck Serono: Grant for Multiple Sclerosis 229 Symposium Innovation Awards" - MS treatment in the 21st century 07:35 - 07:55 Satellite Hall B - - - - - "Merck Serono: Grant for Multiple Sclerosis 230 Symposium Innovation Awards" - Vignette talks from recipients of the 2013 award 10:30 - 10:50 Closing Session Hall B S. Hauser Charcot Lecture - Beating MS: A story of B 239 cells, with twists and turns 10:50 - 11:10 Closing Session Hall B B. Kieseier ECTRIMS Highlights: trials 240

11:10 - 11:30 Closing Session Hall B A. Prat ECTRIMS Scientific Highlights 241

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 33 09 September 2013

Exhibit 33: Complete Planner: Sessions to Consider – Wednesday, October 2, 2013. Wednesday, October 2, 2013 Key? Time Event/Topic Location Authors Title ID ● 08:30 - 09:00 Teaching Course Hall A S. Fredrikson "How do I choose the correct disease-modifying treatment for 6 my MS patient?" - To treat or not to treat CIS and RRMS 08:30 - 09:00 Teaching Course Hall D D. Pelletier "Clinically isolated syndromes (CIS)" - Definition of CIS: 9 adults versus children 08:30 - 09:00 Teaching Course Hall G G.E. Holder "Electrodiagnostic examinations in MS" - Visual 18 electrophysiology (VEP, ERG) ● 09:00 - 09:30 Teaching Course Hall A R. Fox "How do I choose the correct disease-modifying treatment for 7 my MS patient?" - Choosing the right treatment for the individual patient 09:00 - 09:30 Teaching Course Hall D O. Ciccarelli "Clinically isolated syndromes (CIS)" - What are the clinical, 10 CSF, and MRI predictors of conversion to MS? ● 09:30 - 10:00 Teaching Course Hall A B. Kieseier "How do I choose the correct disease-modifying treatment for 8 my MS patient?" - When and how should treatment be switched or escalated? 09:30 - 10:00 Teaching Course Hall D M. Tintoré "Clinically isolated syndromes (CIS)" - Definition of CIS: 11 adults versus children - How can we treat and manage CIS patients? 09:30 - 10:00 Teaching Course Hall F M. Houtchens "Management of the pregnant MS patient" - Therapeutic 17 consideration during pregnancy 09:30 - 10:00 Teaching Course Hall G E.S. Papathanasiou "Electrodiagnostic examinations in MS" - Evoked potentials 20 ● 10:30 - 11:00 Teaching Course Hall C A. Rovira "MRI issues in clinical practice" - Use of brain and spinal cord 33 MRI for differential diagnosis ● 10:30 - 11:00 Teaching Course Hall F N. de Stefano "MRI relevance in neurodegeneration" - Brain MRI: biomarkers 36 of neurodegeneration 10:30 - 11:00 Teaching Course Hall G V. Entwistle "Shared decision making to improve treatment decisions" - 39 What is SDM? ● 10:30 - 11:00 Teaching Course Hall A P. Vermersch "Differential diagnoses and diagnostic dilemmas in MS" - 21 Diagnostic approach to multiple sclerosis ● 11:00 - 11:30 Teaching Course Hall C M. Wattjes "MRI issues in clinical practice" - How and when should brain 34 and spinal cord MRI be performed in the diagnostic process?

11:00 - 11:30 Teaching Course Hall F M. Rocca "MRI relevance in neurodegeneration" - Spinal cord MRI: 37 biomarkers of neurodegeneration 11:00 - 11:30 Teaching Course Hall G C. Heesen "Shared decision making to improve treatment decisions" - 40 How can SDM be enhanced in MS? Patient-mediated interventions ● 11:30 - 12:00 Teaching Course Hall C X. Montalban "MRI issues in clinical practice" - MRI in predicting treatment 35 response: ready to be used in individual patients? 11:30 - 12:00 Teaching Course Hall F C. Enzinger "MRI relevance in neurodegeneration" - Imaging of iron 38 accumulation 11:30 - 12:00 Teaching Course Hall G A. Solari "Shared decision making to improve treatment decisions" - 41 How can SDM be enhanced in MS? Clinician-mediated interventions 12:30 - 13:00 European Charcot Hall A G. Ebers, A. Ascherio "The controversial role of vitamin D in multiple sclerosis" - Is 42 Foundation the evidence sufficient to give vitamin D to everybody in the general population to prevent multiple sclerosis? 13:00 - 13:30 European Charcot Hall A G. Edan, X. Montalban "The controversial role of vitamin D in multiple sclerosis" - 44 Foundation Clinical trials are necessary and feasible 16:12 - 16:24 Young Scientific Hall B L. Galleguillos Goiry, D. Henault, T.A. Relation between total peripheral blood lymphocyte counts 58 Investigators' Session 2 Johnson, A. Bar-Or, J.P. Antel and T cell subset profiles in FTY720-treated multiple sclerosis patients Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 34 09 September 2013

Exhibit 34: Complete Planner: Sessions to Consider – Thursday, October 3, 2013 Thursday, October 3, 2013 Key? Time Event/Topic Location Authors Title ID ● 09:30 - 10:15 Plenary Session 1 Hall A G. Comi "Welcome Address and ECTRIMS Lecture" - Early treatment 81 of multiple sclerosis ● 11:05 - 11:25 Window of opportunity in Hall A J. Cohen Long-term benefits of MS treatment 95 MS treatment 11:49 - 12:01 Window of opportunity in Hall A M. Romeo, V. Martinelli, M. Rodegher, Early predictors of long-term disability progression in 98 MS treatment L. Moiola, B. Colombo, M.J. Messina, relapsing remitting multiple sclerosis patients treated with M. Radaelli, G. Comi disease-modifying treatments 14:15 - 14:35 Clinical and paraclinical Hall A A. Rovira Magnetic resonance monitoring of lesion evolution in multiple 121 monitoring of MS evolution sclerosis

14:55 - 15:07 MS and gender Hall D T. Kalincik, V. Vivek, V. Jokubaitis, J. Relapse incidence in women and men throughout the course 111 Lechner-Scott, M. Trojano, G. of multiple sclerosis: an MSBase cohort study Izquierdo, A. Lugaresi, F. Grand'Maison, R. Hupperts, C. Oreja- Guevara, R. Bergamaschi, G. Iuliano, R. Alroughani, V. Van Pesch, M.P. Amato, M. Slee, F. Verheul, R. Fernandez-Bolanos, M. Fiol, D. La Spitaleri, E. Cristiano, O. Gray, J. Cabrera-Gomez, V. Shaygannejad, J. Herbert, S. Vucic, M. Needham, T. Petkovska-Boskova, C. Sirbu, P. Duquette, M. Girard, P. Grammond, C. Boz, G. Giuliani, M. Rio, M. Barnett, S. Flechter, F. Moore, B. Singhal, E. Bacie Bacile, M. Saladino, C. Shaw, E. Skromne, N. Vella, T. Spelman, D. Liew, T. Kilpatrick, H. Butzkueven on behalf of the MSBase Study Group 15:45 - 17:00 Economic burden - - - - - C Carroll, K. Fairman, M. Lage Medical and pharmacy costs for US patients with multiple P 352 sclerosis in 2011 15:45 - 17:00 Others - - - - - H. Zwibel, P. Coyle, B. Cohen, C. Multiple sclerosis therapy adherence and relapse risk among P 631 Markowitz, M. Tullman, T. Leist, M. those switching versus maintaining therapies in the TOP MS Oleen-Burkey, M. Schwartz study 15:45 - 17:00 Hot Topic Hall A M.P. Sormani "Can immunomodulatory treatment change the natural history 135 of MS?" - Can we measure long-term treatment effects in MS? 15:45 - 17:00 Hot Topic Hall A N. Koch-Henriksen "Can immunomodulatory treatment change the natural history 136 of MS?" - Use of historical controls to compare treatment effects in MS Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 35 09 September 2013

Exhibit 35: Complete Planner: Sessions to Consider - Friday, October 4, 2013 Friday, October 4, 2013 Key? Time Event/Topic Location Authors Title ID ● 10:45 - 11:05 Management of risk in MS Hall A P.S. Sørensen Is risk stratification possible with the new treatments? 176 therapy ● 11:05 - 11:25 Management of risk in MS Hall A R. Gold, B. Kieseier Occurrence and management of PML and IRIS 177 therapy ● 14:00 - 14:20 Progressive MS Hall A R. Fox From relapsing-remitting to secondary progressive MS 195 ● 14:20 - 14:40 Progressive MS Hall A F. Sellebjerg Therapeutic opportunities for progressive MS 196 ● 14:20 - 14:40 Looking into the future: Hall D L. Kappos What is in the pipeline? 208 experimental studies of new therapies

15:30 - 17:00 Diagnosis and differential - - - - - A. Tourbah, N. Caucheteux, M. Multiple sclerosis diagnosis at the first MRI: is there still P 723 diagnosis Genevray, E. Leray, L. Daelman, R. space for temporal dissemination? Deschamps, J. Ferré, O. Gout, A. Maarouf, J. Pelletier, G. Edan 15:30 - 17:00 Epidemiology - - - - - N. Makhani, S. Morrow, J. Fisk, C. Trends in multiple sclerosis incidence and prevalence in P 770 Evans, S.G. Beland, S. Kulaga, E. Africa, Asia, Australia and New Zealand: a systematic review Kingwell, J. Marriott, J. Dykeman, N. Jetté, T. Pringsheim, C. Wolfson, R.A. Marrie, M. Koch 15:30 - 17:00 Economic burden - - - - - S. Moser, S. Ortler, T. van Lokven, W. Pharmacoeconomic and clinical characteristics in patients P 807 Hoffmann, T. Ziemssen with multiple sclerosis treated with disease modifying therapies (PEARL): 12 month interim results 15:30 - 17:00 Immunomodulation/ - - - - - Y. Naegelin*, M. Rasenack*, N. An observational study evaluating disease control, safety, and P 1002 Immunosuppression Sanderson, M. Mehling, C. Sievers, B. immunological changes in patients with relapsing remitting Fischer-Barnicol, M. Andelova, C. multiple sclerosis switching from previous treatment with Stippich, E-W. Radue, R.L.P. Lindberg, natalizumab to fingolimod (SWITCH-UHBS) L. Kappos, T. Sprenger, T. Derfuss

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 36 09 September 2013

Exhibit 36: Complete Planner: Company Events – Wednesday, October 2, 2013 Wednesday, October 2, 2013 Key? Time Event/Topic Location Authors Title ID ● 17:15 - 17:35 Satellite Symposium Hall A H.-P. Hartung "Biogen Idec: Reinventing MS care – evolution" - Tailoring 65 choice: a drug for each patient at the right time ● 17:35 - 17:55 Satellite Symposium Hall A G. Giovannoni "Biogen Idec: Reinventing MS care – evolution" - Silencing the 66 disease from the start ● 17:55 - 18:15 Satellite Symposium Hall A P. Calabresi "Biogen Idec: Reinventing MS care – evolution" - Advancing 67 interferons for people with MS ● 18:30 - 18:35 Satellite Symposium Hall A D. Bates "Merck Serono: Supporting patient engagement for optimized 68 treatment management in MS" - Introduction ● 18:35 - 18:50 Satellite Symposium Hall A M.S. Freedman "Merck Serono: Supporting patient engagement for optimized 69 treatment management in MS" - Defining goals at the start of treatment ● 18:50 - 19:05 Satellite Symposium Hall A A. Feinstein "Merck Serono: Supporting patient engagement for optimized 70 treatment management in MS" - Understanding our patients: the importance of effective communication ● 19:05 - 19:20 Satellite Symposium Hall A A. Lugaresi "Merck Serono: Supporting patient engagement for optimized 71 treatment management in MS" - Engaging with patients to achieve treatment goals ● 19:20 - 19:30 Satellite Symposium Hall A D. Bates, D. Lowden "Merck Serono: Supporting patient engagement for optimized 72 treatment management in MS" - Discussion: patient engagement with MS treatments ● 18:30 - 19:30 Satellite Symposium Hall A D. Bates "Merck Serono: Supporting patient engagement for optimized 73 treatment management in MS" - Close Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 37 09 September 2013

Exhibit 37: Complete Planner: Company Events – Thursday, October 3, 2013 Thursday, October 3, 2013 Key? Time Event/Topic Location Authors Title ID ● 07:45 - 08:05 Satellite Symposium Hall A X. Montalban "Biogen Idec: Reinventing MS care – revolution" - Defending 74 the brain ● 08:05 - 08:25 Satellite Symposium Hall A T. Berger "Biogen Idec: Reinventing MS care – revolution" - Returning 75 mobility and QoL to people with MS ● 08:25 - 08:45 Satellite Symposium Hall A A. Sandrock Biogen Idec: Reinventing MS care – revolution - The future is 76 repair ● 13:00 - 13:15 Satellite Symposium Hall A P.S. Sorensen "Teva Neuroscience: Re-evaluating the treatment algorithm in 105 multiple sclerosis: emerging insights" - Welcome and introduction ● 13:15 - 13:30 Satellite Symposium Hall A F. Zipp "Teva Neuroscience: Re-evaluating the treatment algorithm in 106 multiple sclerosis: emerging insights" - Multiple sclerosis: changing concepts, new targets ● 13:30 - 13:45 Satellite Symposium Hall A P. Vermersch "Teva Neuroscience: Re-evaluating the treatment algorithm in 107 multiple sclerosis: emerging insights" - Treatment sequencing or treatment selection: time to re-evaluate our approach?

● 13:45 14:00 Satellite Symposium Hall A F. Lublin "Teva Neuroscience: Re-evaluating the treatment algorithm in 108 multiple sclerosis: emerging insights" - Older, but wiser? Re- evaluating the role of established multiple sclerosis therapies

● 18:05 - 18:20 Satellite Symposium Hall A H. Wiendl "Medscape Education: Evolving the management of MS: new 142 insights and new directions" - The changing landscape for clinical decisions in managing RRMS with oral therapies

● 18:20 - 18:35 Satellite Symposium Hall B J. Sastre-Garriga "Medscape Education: Evolving the management of MS: new 143 insights and new directions" - Beyond reducing-relapses in RRMS: the importance of neuroprotection - ● 18:35 - 18:50 Satellite Symposium Hall B H. Butzkueven "Medscape Education: Evolving the management of MS: new 144 insights and new directions" - Balancing efficacy and safety in the real world ● 18:50 - 19:00 Satellite Symposium Hall B H. Wiendl "Medscape Education: Evolving the management of MS: new 145 insights and new directions" - Panel discussion and Q&A

● 19:15 - 19:30 Satellite Symposium Hall B F. Lublin "Bayer HealthCare: 25 years of partnership: working towards 146 a better future for patients with MS" - 25 Years of partnership: working towards a better future for patients with MS

● 19:30 - 19:50 Satellite Symposium Hall B M. Cascione "Bayer HealthCare: 25 years of partnership: working towards 148 a better future for patients with MS" - 25 Years of partnership: current focus ● 19:50 - 20:10 Satellite Symposium Hall B A. Chan "Bayer HealthCare: 25 years of partnership: working towards 149 a better future for patients with MS" - 25 Years of partnership: continuous efforts to improve MS patient support

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 38 09 September 2013

Exhibit 38: Complete Planner: Company Events – Friday, October 4, 2013 Friday, October 4, 2013 Key? Time Event/Topic Location Authors Title ID ● 08:00 - 08:05 Satellite Symposium Hall B H.-P. Hartung F. Hoffmann- La Roche Ltd: Selective targeting of B Cells: 150 establishing a new horizon for multiple sclerosis treatment - Welcome and introduction ● 08:05 - 08:20 Satellite Symposium Hall B A. Bar-Or F. Hoffmann- La Roche Ltd: Selective targeting of B Cells: 151 establishing a new horizon for multiple sclerosis treatment - B cells as key players in the pathobiology of multiple sclerosis

● 08:20 - 08:35 Satellite Symposium Hall B A. Chan F. Hoffmann- La Roche Ltd: Selective targeting of B Cells: 152 establishing a new horizon for multiple sclerosis treatment - Mechanisms of anti-CD20 antibodies in autoimmune diseases

● 08:35 - 08:50 Satellite Symposium Hall B S. Hauser F. Hoffmann- La Roche Ltd: Selective targeting of B Cells: 153 establishing a new horizon for multiple sclerosis treatment - Selective targeting of B cells with ACD20: a promising future for multiple sclerosis therapies? ● 08:50 - 09:00 Satellite Symposium Hall B H.-P. Hartung F. Hoffmann- La Roche Ltd: Selective targeting of B Cells: 154 establishing a new horizon for multiple sclerosis treatment - Question and answer session ● 18:00 - 18:05 Satellite Symposium Hall A P.S. Sorensen "Genzyme, a Sanofi Company: The challenges of disease 222 management in MS: navigating the changing landscape" - Welcome and introduction

● 18:05 - 18:30 Satellite Symposium - - - - - G. Giovannoni "Genzyme, a Sanofi Company: The challenges of disease 223 management in MS: navigating the changing landscape" - Evolving considerations for patient management & treatment selection ● 18: 30 - 18:55 Satellite Symposium - - - - - P. Coyle, T. Ziemssen "Genzyme, a Sanofi Company: The challenges of disease 224 management in MS: navigating the changing landscape" - Highlights from the changing landscape in MS ● 19:15 - 19:30 Satellite Symposium Hall A H. Lassmann "Teva Neuroscience: Multiple sclerosis management: Have 225 we got the focus right?" - Pathogenesis of multiple sclerosis: looking back to the future

● 19:30 - 19:45 Satellite Symposium G. Cutter "Teva Neuroscience: Multiple sclerosis management: Have 226 we got the focus right?" - Treatment goals in multiple sclerosis: a moving target?

● 19:45 - 20:00 Satellite Symposium A. Thompson "Teva Neuroscience: Multiple sclerosis management: Have 227 we got the focus right?" - Putting the patient first: outcomes that matter

Source: ECTRIMS, Credit Suisse estimates

Exhibit 39: Complete Planner: Company Events – Saturday, October 5, 2013 Saturday, October 5, 2013 Key? Time Event/Topic Location Authors Title ID ● 07:15 - 07:20 Satellite Symposium Hall B M. Trojano "Merck Serono: Grant for Multiple Sclerosis Innovation 228 Awards" - Introduction ● 07:20 - 07:35 Satellite Symposium Hall B P. Rieckmann "Merck Serono: Grant for Multiple Sclerosis Innovation 229 Awards" - MS treatment in the 21st century ● 07:35 - 07:55 Satellite Symposium Hall B - - - - - "Merck Serono: Grant for Multiple Sclerosis Innovation 230 Awards" - Vignette talks from recipients of the 2013 award ● 10:30 - 10:50 Closing Session Hall B S. Hauser Charcot Lecture - Beating MS: A story of B cells, with twists 239 and turns ● 10:50 - 11:10 Closing Session Hall B B. Kieseier ECTRIMS Highlights: trials 240 ● 11:10 - 11:30 Closing Session Hall B A. Prat ECTRIMS Scientific Highlights 241 Source ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 39 09 September 2013

Exhibit 40: Complete Planner: Aubagio – Thursday, October 3, 2013 Thursday, October 3, 2013 Key? Time Event/Topic Location Authors Title ID 12:01 - 12:13 Window of opportunity in Hall A A. Miller, J. Wolinsky, L. Kappos, G. TOPIC main outcomes: efficacy and safety of once-daily oral 99 MS treatment Comi, M.S. Freedman, T. Olsson, A. teriflunomide in patients with clinically isolated syndrome Rugina, D. Bauer, J. Delhay, B. Wamil, P. Truffinet, P. O’Connor 15:45 - 17:00 Immunomodulation/ - - - - - B. Kieseier, O. Stüve, M. Benamor, J. Updated pregnancy outcomes from the teriflunomide clinical P 541 Immunosuppression Delhay, P. Truffinet development programme: retrospective analysis of the teriflunomide clinical trial database ● 15:45 - 17:00 Immunomodulation/ - - - - - M. Freedman, J. Wolinsky, G. Comi, L. Long-term safety and efficacy of teriflunomide in patients with P 544 Immunosuppression Kappos, T. Olsson, A. Miller, M. relapsing forms of multiple sclerosis in the TEMSO extension Benamor, D. Dukovic, J. Liang, P. trial Truffinet, P. O'Connor ● 15:45 - 17:00 Others - - - - - L. Kappos, G. Comi, M.S. Freedman, Pooled efficacy data from two phase 3 placebo-controlled P 618 A.E. Miller, T.P. Olsson, J.S. Wolinsky, trials of oral, once-daily teriflunomide P. Truffinet, S. Cavalier, J.-L. Delhay, D. Dukovic, P. O’Connor ● 15:45 - 17:00 Others - - - - - T. Leist, M. Freedman, L. Kappos, T. Pooled safety data from three placebo-controlled teriflunomide P 633 Olsson, A. Miller, J. Wolinsky, P. studies O'Connor, M. Benamor, J. Delhay, P. Truffinet, D. Dukovic, J. Li, G. Comi Source: ECTRIMS, Credit Suisse estimates

Exhibit 41: Complete Planner: Aubagio – Friday, October 4, 2013 Friday, October 4, 2013 Key? Time Event/Topic Location Authors Title ID ● 15:30 - 17:00 Others - - - - - M. Mäurer, F. Lublin, G. Comi, M. Impact of severe relapses on disability, fatigue and health- P 1093 Freedman, L. Kappos, A. Miller, T. related quality of life outcomes: a pooled dataset of the phase Olsson, J. Wolinsky, C. Dive-Pouletty, 3 TEMSO and TOWER studies S. Bozzi, P. O'Connor ● 15:30 - 17:00 Others - - - - - R. Macdonell, F. Lublin, G. Comi, M.S. Teriflunomide reduces relapse-related sequelae, severe P 1095 Freedman, L. Kappos, M. Mäurer, A. relapses, hospitalisations and corticosteroid use: pooled data Miller, T.P. Olsson, J.S. Wolinsky, S. from the phase 3 TEMSO and TOWER studies Bozzi, C. Dive-Pouletty, P. O'Connor

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 40 09 September 2013

Exhibit 42: Complete Planner: Alemtuzumab – Thursday, October 3, 2013 Thursday, October 3, 2013 Key? Time Event/Topic Location Authors Title ID 15:45 - 17:00 Immunomodulation/ - - - - - P.S. Sorensen, D.L. Arnold, J.A. Lymphocyte counts and efficacy outcomes after P 515 Immunosuppression Cohen, E.J. Fox, H.-P. Hartung, E. alemtuzumab in relapsing remitting multiple sclerosis Havrdova, K. Selmaj, H. Weiner, J. patients: the CARE-MS studies Palmer, D.H. Margolin, M.A. Panzara, D.A.S. Compston, A.J. Coles 15:45 - 17:00 Immunomodulation/ - - - - - T. Ziemssen, D.L. Arnold, J.A. Cohen, Immunogenicity of alemtuzumab does not impact safety and P 523 Immunosuppression A.J. Coles, E.J. Fox, H.-P. Hartung, E. efficacy in relapsing remitting multiple sclerosis patients in Havrdova, K.W. Selmaj, H.L. Weiner, J. the CARE-MS I study Palmer, D.H. Margolin, S. Richards, C. Sung, M.A. Panzara, D.A.S. Compston

● 15:45 - 17:00 Immunomodulation/ - - - - - L.H. Kasper, D.L. Arnold, J.A. Cohen, Lymphocyte subset dynamics following alemtuzumab P 531 Immunosuppression A.J. Coles, E.J. Fox, H.-P. Hartung, E. treatment in the CARE-MS II study Havrdova, K.W. Selmaj, H.L. Weiner, J. Palmer, D.H. Margolin, M.A. Panzara, D.A.S. Compston ● 15:45 - 17:00 Long-term treatment - - - - - H.-P. Hartung, D.L. Arnold, J.A. Cohen, Reduction of disability with alemtuzumab in relapsing P 592 monitoring A.J. Coles, E.J. Fox, E. Havrdova, K.W. remitting multiple sclerosis patients who participated in CARE- Selmaj, H.L. Weiner, J. Palmer, D.H. MS II: three year follow-up Margolin, M.A. Panzara, D.A.S. Compston ● 15:45 - 17:00 Risk management for - - - - - E. Havrdova, D.L. Arnold, J.A. Cohen, Infection risk with alemtuzumab in patients with relapsing P 603 disease modifying A.J. Coles, E.J. Fox, H.-P. Hartung, K. remitting multiple sclerosis: pooled results from the CARE- treatments Selmaj, H.L. Weiner, J. Palmer, D.H. MS I and CARE-MS II trials Margolin, P. Oyuela, M.A. Panzara, D.A.S. Compston 15:45 - 17:00 Treatment of progressive - - - - - S.F. Hunter, H.M. Hunter, D. Kantor Phase 1 trial monitoring response to alemtuzumab (ALE) in P 616 MS naive and ALE-experienced subjects with refractory multiple sclerosis (MS) 15:45 - 17:00 Treatment of specific - - - - - V. Brinar, D.L. Arnold, J. Cohen, A.J. Alemtuzumab improves expanded disability status scale P 649 symptoms Coles, E.J. Fox, H.-P. Hartung, E. (EDSS) via effects on functional systems: CARE-MS II Havrdova, K. Selmaj, H. Weiner, J. Palmer, D.H. Margolin, M.A. Panzara, D.A.S. Compston Source: ECTRIMS, Credit Suisse estimates

Exhibit 43: Complete Planner: Alemtuzumab – Friday, October 4, 2013 Friday, October 4, 2013 Key? Time Event/Topic Location Authors Title ID ● 15:30 - 17:00 Long-term treatment - - - - - J. Lycke, D.L. Arnold, J.A. Cohen, A.J. Adverse event profile of alemtuzumab in active relapsing P 1053 monitoring Coles, E.J. Fox, H.-P. Hartung, E. remitting multiple sclerosis patients who participated in the Havrdova, K.W. Selmaj, H.L. Weiner, J. CARE-MS studies: three-year follow-up Palmer, D.H. Margolin, P. Oyuela, M.A. Panzara, D.A.S. Compston

Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 41 09 September 2013

Exhibit 44: Complete Planner: Tecfidera – Thursday, October 3, 2013 Thursday, October 3, 2013 Key? Time Event/Topic Location Authors Title ID 15:45 - 17:00 Immunomodulation/ - - - - - E. Havrdova, R. Gold, R.J. Fox, L. Effect of BG-12 (dimethyl fumarate) on freedom from P 521 Immunosuppression Kappos, J.T. Phillips, A. Zhang, N.C. measured clinical and neuroradiological disease activity over Kurukulasuriya, S.I. Sheikh, V. time in patients with relapsing remitting multiple sclerosis: Viglietta, G. Giovannoni results from the phase 3 studies ● 15:45 - 17:00 Immunomodulation/ - - - - - K. Selmaj, R. Gold, R. J. Fox, E. Flushing and gastrointestinal tolerability events in relapsing P 537 Immunosuppression Havrdova, G. Giovannoni, A. Pace, M. remitting multiple sclerosis (RRMS) patients treated with oral Novas, L. Meltzer, C. Hotermans, V. BG-12 dimethyl fumarate) in the phase 3 DEFINE and Viglietta, J. T. Phillips CONFIRM trials ● 15:45 - 17:00 Immunomodulation/ - - - - - R. Gold, J. T. Phillips, A. Bar-Or, M. Three-year follow-up of oral BG-12 (dimethyl fumarate) P 538 Immunosuppression Hutchinson, L. Kappos, R. Zhang, M. treatment in relapsing remitting multiple sclerosis (RRMS): Yang, V. Viglietta, S. I. Sheikh, R. J. integrated clinical efficacy data from the DEFINE, CONFIRM, Fox and ENDORSE studies 15:45 - 17:00 Immunomodulation/ - - - - - J. T. Phillips, M. Hutchinson, R. Fox, R. Management strategies for fushing and gastrointestinal events P 549 Immunosuppression Gold, E. Havrdova associated with BG-12 (dimethyl fumarate): expert panel recommendations ● 15:45 - 17:00 Immunomodulation/ - - - - - M. Hutchinson, R. Gold, R. J. Fox, E. Clinical efficacy of BG-12 (dimethyl fumarate) for relapsing P 563 Immunosuppression Havrdova, G. Giovannoni, A. Zhang, C. remitting multiple sclerosis according to prior therapy: an Hotermans, M. Stephan, A. Bar-Or integrated analysis of the phase 3 DEFINE and CONFIRM studies 15:45 - 17:00 Immunomodulation/ - - - - - U. Schulze-Topphoff, M. Varrin-Doyer, Dimethyl fumarate utilizes Nrf2-independent and Nrf2- Immunosuppression K. Pekarek, R. H. Scannevin, S. S. dependent pathways for immune modulation Zamvil 15:45 - 17:00 Neuroprotection - - - - - B. Parodi, C. Cordano, D. Giunti, C. Monomethylfumarate induces a switch of activated microglia Usai, N. Kerlero de Rosbo, R. from a pro-inflammatory to a neuroprotective phenotype Scannevin, A. Uccelli 15:45 - 17:00 Treatment of specific - - - - - J. O'Gorman, H. Russell, J. Li, G. Effect of Aspirin pretreatment or slow dose titration on the P 651 symptoms Phillips, C. Hotermans, N. C. incidence and severity of flushing and gastrointestinal events Kurukulasuriya, V. Viglietta associated with BG-12 (dimethyl fumarate) 15:45 - 17:00 Quality of life - - - - - S. Sarda, G. Phillips, J. A. Gaebler, N. Health-related quality of life in relapsing remitting multiple P 662 C. Kurukulasuriya sclerosis (RRMS) patients treated with placebo or BG-12 (dimethyl fumarate): comparison with other medical conditions Source: ECTRIMS, Credit Suisse estimates

Exhibit 45: Complete Planner: Tecfidera – Friday, October 4, 2013 Friday, October 4, 2013 Key? Time Event/Topic Location Authors Title ID ● 15:30 - 17:00 Immunomodulation/ - - - - - R. Gold, G. Giovannoni, J. T. Phillips, Effect of BG-12 (dimethyl fumarate) in newly diagnosed P 990 Immunosuppression R. J. Fox, A. Zhang, L. Meltzer, N. C. relapsing remitting multiple sclerosis (RRMS) patients from Kurukulasuriya the DEFINE and CONFIRM studies ● 15:30 - 17:00 Immunomodulation/ - - - - - R. Gold, J. T. Phillips, E. Havrdova, A. Oral BG-12 (dimethyl fumarate) and pregnancy: preclinical P 991 Immunosuppression Bar-Or, L. Kappos, J. Clarke, H. Yuan, studies and pregnancy outcomes reported during the clinical M. Novas, M. T. Sweetser, N. C. development programme Kurukulasuriya, V. Viglietta, R. J. Fox ● 15:30 - 17:00 Immunomodulation/ - - - - - J.T. Phillips, R.J. Fox, K. Selmaj, M. Safety profile of BG-12 (dimethyl fumarate) in relapsing P 996 Immunosuppression Yang, R. Zhang, M. Novas, M.T. remitting multiple sclerosis: long-term interim results from the Sweetser, V. Viglietta, R. Gold ENDORSE extension study ● 15:30 - 17:00 Immunomodulation/ - - - - - D. H. Miller, R. J. Fox, R. Gold, E. Three-year follow-up of oral BG-12 (dimethyl fumarate) P 1004 Immunosuppression Havrdova, L. Kappos, D. MacManus, T. treatment in relapsing remitting multiple sclerosis (RRMS): Yousry, R. Zhang, M. Yang, V. integrated magnetic resonance imaging (MRI) outcomes from Viglietta, S. I. Sheikh, K. T. Dawson, D. DEFINE, CONFIRM, and ENDORSE L. Arnold ● 15:30 - 17:00 Immunomodulation/ - - - - - M. Hutchinson, R.J. Fox, A. Bar-Or, E. Efficacy of BG-12 (dimethyl fumarate) in relapsing remitting P 1013 Immunosuppression Havrdova, M. Yang, R. Zhang, V. multiple sclerosis in patients from Europe: an integrated Viglietta, S.I. Sheikh, R. Gold analysis of the phase 3 DEFINE and CONFIRM studies ● 15:30 - 17:00 Immunomodulation/ - - - - - R. J. Fox, R. Gold, J. T. Phillips, K. Lymphocyte count reductions in relapsing remitting multiple P 1018 Immunosuppression Selmaj, K. Raghupathi, H. Yuan, J. sclerosis (RRMS) patients treated with oral BG-12 (dimethyl O'Gorman, M. Novas, V. Viglietta, N. C. fumarate): integrated analysis of the placebo-controlled Kurukulasuriya studies ● 15:30 - 17:00 Quality of life - - - - - M. Kita, R.J. Fox, R. Gold, G. Interim analysis of quality of life in patients with relapsing P 1127 Giovannoni, J.T. Phillips, S.P. Sarda, J. remitting multiple sclerosis treated with BG-12 (dimethyl Kong, R. Zhang, V. Viglietta, S.I. fumarate) in the ENDORSE study Sheikh, L. Kappos Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 42 09 September 2013

Exhibit 46: Complete Planner: Daclizumab by Drug/Event – Thursday, October 3, 2013 Thursday, October 3, 2013 Key? Time Event/Topic Location Authors Title ID 15:45 - 17:00 Immunomodulation/ - - - - - E. Radue, E. Havrodova, M. McNeill, K. Decrease in T1 black hole volume over 2 years of daclizumab P 525 Immunosuppression Riester, J. Elkins high-yield process treatment Source: ECTRIMS, Credit Suisse estimates

Exhibit 47: Complete Planner: Daclizumab by Drug/Event – Friday, October 4, 2013 Friday, October 4, 2013 Key? Time Event/Topic Location Authors Title ID ● 15:30 - 17:00 Immunology - - - - - G. Giovannoni, A. Mikulskis, M. Evaluation of immunogenicity in multiple sclerosis patients P 864 McNeil, K. Riester, M. Sweetser, J. continuously treated with daclizumab-HYP during the Elkins, L. Amaravadi SELECT and SELECTION clinical trials ● 15:30 - 17:00 Immunomodulation/ - - - - - E.W. Radue, D. Stefoski, R. Gold, M. Reduction in brain atrophy with extended daclizumab HYP P 977 Immunosuppression McNeill, K. Riester, J. Elkins treatment: results of SELECT and the SELECT extension study Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 43 09 September 2013

Exhibit 48: Complete Planner: Laquinimod – Friday, October 4, 2013 Friday, October 4, 2013 Key? Time Event/Topic Location Authors Title ID ● 15:30 - 17:00 Long-term treatment - - - - - T. Vollmer, X. Montalban, G. Comi, T. Multicentre, randomized, placebo controlled study to evaluate P 1054 monitoring Ziemssen, A. Boyko, P. Vermersch, N. the efficacy, safety and tolerability of two doses of oral Sasson, T. Gorfine, V. Knappertz, M. laquinimod (0.6mg/day and 1.2mg/day) for the treatment of Filippi patients with relapsing remitting multiple sclerosis

● 15:30 - 17:00 Long-term treatment - - - - - T. Vollmer, P.S. Sorensen, K. Selmaj, Results of switching to laquinimod in the open-label extension P 1055 monitoring F. Zipp, E. Havrdova, J. Cohen, Y. Sidi, phase of the BRAVO study T. Gorfine, D. Arnold for the BRAVO Study Group ● 15:30 - 17:00 Long-term treatment - - - - - P.S. Sorensen, G. Cutter, T. Vollmer, The risk of disability progression is associated with multiple P 1057 monitoring G. Comi, D. Ladkani, N. Sasson, V. sclerosis functional composite (MSFC) scores in the Knappertz laquinimod phase 3 trials 15:30 - 17:00 Tools for detecting - - - - - M.P. Sormani, G. Cutter, G. Comi, T. Evaluating the relationship between laquinimod's effects on P 1080 therapeutic response Vollmer, P.S. Sorensen, D. Ladkani, N. relapse and disability progression Sasson, V. Knappertz Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 44 09 September 2013

Exhibit 49: Complete Planner: Tysabri – Thursday, October 3, 2013 Thursday, October 3, 2013 Key? Time Event/Topic Location Authors Title ID 15:45 - 17:00 Immunomodulation/ - - - - - E. Havrdova, D. Bates, S. Galetta, G. Effects of natalizumab treatment on freedom from disease P 519 Immunosuppression Giovannoni, M. Hutchinson, F. Lublin, activity by baseline characteristics in AFFIRM P. O’Connor, F. Pellegrini, J. Phillips, C. Polman, H. Wiendl, S. Belachew, R. Patel, A. Pace 15:45 - 17:00 Immunomodulation/ - - - - - F. Lublin, G. Cutter, G. Giovannoni, C. Natalizumab reduces the disabling amplitude of multiple P 524 Immunosuppression Polman, D. Paes, R. Patel, J. Sun, S. sclerosis relapses and improves post-relapse residual Belachew disability 15:45 - 17:00 Immunomodulation/ - - - - - J. Woodworth, P. Duda, E. Fox, N. Comparative pharmacokinetics and pharmacodynamics of P 529 Immunosuppression Lucas, T. Plavina subcutaneous and intravenous administration of natalizumab

15:45 - 17:00 Long-term treatment - - - - - R. Rudick, A. Goodman, L. Kappos, F. Six-year natalizumab safety and efficacy data from the P 593 monitoring Lublin, P. O’Connor, C. Polman, F. STRATA study Forrestal, M. Chirieac, P. Duda Source: ECTRIMS, Credit Suisse estimates

Exhibit 50: Complete Planner: Tysabri – Friday, October 4, 2013 Friday, October 4, 2013 Key? Time Event/Topic Location Authors Title ID 15:30 - 17:00 Long-term treatment - - - - - H. Wiendl, H. Butzkueven, L. Kappos, Disease activity and disability progression decrease beyond P 1050 monitoring F. Pellegrini, M. Trojano, D. Paes, A. two years on natalizumab in relapsing multiple sclerosis Zhang, S. Belachew patients in the TYSABRI® (natalizumab) Observational Programme ● 15:30 - 17:00 Treatment of progressive - - - - - D. Mikol, M. S. Freedman, M. D. ASCEND study of natalizumab efficacy on reducing disability P 1087 MS Goldman, H-P Hartung, E. Havrdova, D. in patients with secondary progressive multiple sclerosis: Jeffery, R. Kapoor, A. Miller, F. baseline demographics and disease characteristics Sellebjerg, S. Lee, Y. Chen, D. Cadavid, B. Ticho ● 15:30 - 17:00 Treatment of progressive - - - - - D. Cadavid, B. Brochet, G.L. Mancardi, The MS-COG, a novel endpoint for measurement of cognitive P 1088 MS U. Nocentini, T. Kaushik, L. Xu, Y. function in multiple sclerosis clinical trials: baseline Chen, D. Mikol, B. Ticho characteristics of the cognitive substudy of the ASCEND natalizumab secondary progressive multiple sclerosis study

15:30 - 17:00 Treatment of specific - - - - - S. Belachew, C. Hotermans, D. Paes, Effects of natalizumab on measures of ambulation in P 1120 symptoms X. You relapsing remitting multiple sclerosis patients in the prospective, open-label TIMER study Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 45 09 September 2013

Exhibit 51: Complete Planner: Gilenya – Thursday, October 3, 2013 Thursday, October 3, 2013 Key? Time Event/Topic Location Authors Title ID 15:31 - 15:43 MS and gender Hall D K. Hellwig, G. Koren, H. Butzkueven, H. Cumulative data on pregnancy outcomes after exposure to 114 Tilson, S. Hernández-Diaz, T. fingolimod Macdonald, E. Kornyeyeva, E. Plana, Y. Lu, M. Cremer, R.K Amar, R. Schlosshauer, W. Collins, Y. Geissbühler, G. Karlsson 15:45 - 17:00 Immunomodulation/ - - - - - R. Bermel, R. Hashmonay, X. Meng, S. Fingolimod first-dose effects in patients with relapsing P 511 Immunosuppression Randhawa, P. Von Rosenstiel, N. multiple sclerosis concomitantly treated with serotonin- Sfikas, D. Kantor specific reuptake inhibitors 15:45 - 17:00 Immunomodulation/ - - - - - G. Comi, R. Gold, L. Kappos, P. Von Relapse and safety outcomes in patients who transitioned P 513 Immunosuppression Rosenstiel, A. Sinha, D. Tomic from glatiramer acetate or interferon beta to fingolimod in the open-label FIRST study 15:45 - 17:00 Immunomodulation/ - - - - - F. Barkhof, J.A. Cohen, E. Radue, L. Brain volume changes, on-study correlations and the link to P 518 Immunosuppression Kappos, P. Calabresi, D. Häring, N. disability in three fingolimod phase 3 studies Sfikas, P. Von Rosenstiel, G. Francis 15:45 - 17:00 Immunomodulation/ - - - - - O. Khan, B.A.C. Cree, P. Cabre, M. The efficacy and safety of fingolimod in an African-American P 522 Immunosuppression Inglese, J. Perumal, X. Meng, R. patient subgroup from FREEDOMS II Hashmonay, L. Barbato, P.K. Coyle 15:45 - 17:00 Immunomodulation/ - - - - - E. Radue, J.A. Cohen, F. Barkhof, L. Baseline predictors of brain atrophy in phase 3 studies of P 526 Immunosuppression Kappos, P. Calabresi, D. Häring, N. fingolimod Sfikas, P. Von Rosenstiel, G. Francis 15:45 - 17:00 Immunomodulation/ - - - - - K. R. Edwards, H. Crayton, J. Patient- and physician-reported outcomes after therapy P 555 Immunosuppression Calkwood, N. Agashivala, S. Li, P. switch from interferon beta to fingolimod versus staying on Chin, S. Randhawa interferon beta therapy ● 15:45 - 17:00 Risk management for - - - - - V. Limmroth, S. Hoyer, K. Schuh, M. Good cardiac safety profile after fingolimod (Gilenya®) P 602 disease modifying Lang, O. Hoffmann, T. Ziemssen treatment initiation in patients with relapsing remitting multiple treatments sclerosis: first interim analysis of the START study 15:45 - 17:00 Tools for detecting - - - - - M.P. Sormani, E.W, Radue, N De Does the effect of fingolimod on brain atrophy independently P 611 therapeutic response Stefano, T. Sprenger, P. Chin, G. contribute to effects on disability? A patient-level analysis of Francis, L. Kappos the FREEDOMS study 15:45 - 17:00 Others - - - - - L. Kappos, E. W. Radue, P. Connor, Switching therapy to fingolimod improves clinical and MRI P 619 M.P. Amato, L. Zhang-Auberson, D. A. outcomes: subgroup analysis from the fingolimod phase III Häring, G. Francis FREEDOMS extension (up to four years) study ● 15:45 - 17:00 Others - - - - - J. Cohen, J. Pelletier, P. Chin, N. Efficacy of fingolimod in relapsing remitting multiple sclerosis P 620 Sfikas, G. Karlsson, P. von Rosenstiel, (RRMS) as measured by multiple sclerosis functional L. Kappos composite: results from the TRANSFORMS, FREEDOMS, and FREEDOMS II phase 3 studies 15:45 - 17:00 Others - - - - - N. Bergvall, R. Lahoz, N. Agashivala, A. Relapse rates among patients with multiple sclerosis who P 635 Pradhan, G. Capkun-Niggli, J. R. Korn, switch from interferon therapy to fingolimod or glatiramer A. A. Petrilla, S. U. Karkare, C. acetate: a retrospective US claims database analysis Balderston McGuiness, C. Makin 15:45 - 17:00 Others - - - - - N. Bergvall, M. Costa-Scharplatz, R. Cost-effectiveness of fingolimod compared to interferon beta P 636 Hettle, M. Tambour, F. Henriksson, S. 1a based on patient transitions in TRANSFORMS Fredrikson 15:45 - 17:00 Others - - - - - N. Bergvall, R. Lahoz, N. Agashivala, A. Relapse rates among patients with a history of relapses P 637 Pradhan, G. Capkun-Niggli, J. R. Korn, treated with fingolimod compared with interferons or glatiramer A. A. Petrilla, S. U. Karkare, C. acetate for the treatment of multiple sclerosis: a retrospective Balderston McGuiness, C. Makin US claims database analysis Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 46 09 September 2013

Exhibit 52: Complete Planner: Gilenya – Friday, October 4, 2013 Friday, October 4, 2013 Key? Time Event/Topic Location Authors Title ID 09:39 - 09:51 Free Communications 3 Hall D L. Kappos, E. W. Radue, G. Comi, X. Disease control and safety in relapsing-remitting multiple 167 Montalban, H. Butzkueven, H. Wiendl, sclerosis (RRMS) patients switching from natalizumab to G. Giovannoni, Y. Naegelin, T. fingolimod: a 32-week, rater- and patient-blind, randomized, Sprenger, N. Mueller-Lenke, F. Dahlke, parallel-group study (TOFINGO) R. Gottschalk, P. von Rosenstiel, Y. Zhang, D. Tomic 11:25 - 11:37 Management of risk in MS Hall A A. Voldsgaard, N. Koch-Henriksen, M. Cardiac and pulmonary effects related to initiation of 178 therapy Magyari, P.S. Sørensen, A. Oturai fingolimod treatment 15:30 - 17:00 Immunomodulation/ - - - - - T. Dehmel, K. Wolffram, C. Warnke, D. The effects of fingolimod on peripheral blood mononuclear cell P 999 Immunosuppression Hermsen, F. Boege, T. Bergstroem, M. phenotypes and immunoglobulins: results from the BIOBANK Pawlita, H.-P. Hartung, M. Diaz- study Lorente, B. C. Kieseier ● 15:30 - 17:00 Long-term treatment - - - - - L. Kappos, J. A Cohen, F. Barkhof, L. Relapse rates and disability remain consistently low with long- P 1052 monitoring Cappiello, Y. Zhang, P. Von Rosenstiel term fingolimod therapy: five-year interim results of the LONGTERMS extension study 15:30 - 17:00 Others - - - - - A. Laroni, D. Brogi, V. Brescia Morra, Safety of the first dose of fingolimod for multiple sclerosis: P 1091 L. Guidi, C. Pozzilli, G. Comi, A. results of an open-label clinical trial Lugaresi, R. Turrini, D. Raimondi, A. Uccelli, G. Mancardi for the EAP Investigators ● 15:30 - 17:00 Others - - - - - A. T. Reder, D. Jeffery, D. Goodin, L. Long-term efficacy of fingolimod in patients with relapsing P 1092 Kappos, F. D. Lublin, E. W. Radue, K. remitting multiple sclerosis: results from the phase 3 Rammohan, T. Vollmer, M. A. Agius, T. FREEDOMS II extension study Stites, B. Li, L. Cappiello, P. von Rosenstiel, P. A. Calabresi ● 15:30 - 17:00 Others - - - - - W. Camu, E. Thouvenot, M. Meinel, N. Influence of baseline clinical and demographic characteristics P 1101 Sfikas, P. Chin, D. Piani-Meier, D. on disease evolution in the phase 3 FREEDOMS study in Tomic, E. Verdun patients with relapsing remitting multiple sclerosis

15:30 - 17:00 Others - - - - - N. Bergvall, R. Nixon, D. Tomic, N. Efficacy of oral fingolimod versus dimethyl fumarate on P 1105 Sfikas, G. Cutter, G. Giovannoni measures of freedom from disease activity in patients with multiple sclerosis, based on indirect comparisons of phase 3 trials 15:30 - 17:00 Others - - - - - N. Bergvall, R. Lahoz, N. Agashivala, A. Persistence and adherence of fingolimod compared with other P 1107 Pradhan, G. Capkun-Niggli, J. R. Korn, disease modifying therapies for the treatment of multiple A. A. Petrilla, S. U. Karkare, C. sclerosis: a retrospective US claims database analysis Balderston McGuiness, C. Makin Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 47 09 September 2013

Exhibit 53: Complete Planner: BAF312 – Thursday, October 3, 2013 Thursday, October 3, 2013 Key? Time Event/Topic Location Authors Title ID ● 15:45 - 17:00 Others - - - - - K. Shakeri-Nejad, B. Brendani, N. Placebo-like occurrence of atrioventricular blocks and sinus P 626 Pezous, L. Mooney, A. Juan, M. pauses: results from a siponimod QT/QTc study Allison, R.G. Perry, E. Legangneux 15:45 - 17:00 Others - - - - - S. Biswal, U.K. Veldandi, C. Derne, G. Effect of oral siponimod (BAF312) on the pharmacokinetics P 627 Golla, N. Muhsen, K. Shakeri-Nejad, E. and pharmacodynamics of a monophasic oral contraceptive in Legangneux healthy female subjects Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 48 09 September 2013

Exhibit 54: Complete Planner: ONO4641 – Thursday, October 3, 2013 Thursday, October 3, 2013 Key? Time Event/Topic Location Authors Title ID ● 15:45 - 17:00 Immunomodulation/ - - - - - K. Selmaj, F. Zipp, T. Vollmer, A. Bar- Effect of ONO-4641, a potent, oral, selective sphingosine-1- P 536 Immunosuppression Or, B. Due, T.Z. Fischer, K. Thangavelu phosphate receptor-1 and -5 agonist, on MRI outcomes in on behalf of the DreaMS study patients with relapsing remitting multiple sclerosis: subgroup investigators analyses from the phase 2 DreaMS study ● 15:45 - 17:00 Immunomodulation/ - - - - - T. Vollmer, F. Zipp, A. Bar-Or, B. Due, Magnetic resonance imaging measures of efficacy in patients P 547 Immunosuppression K. Thangavelu, T.Z. Fischer, K. Selmaj with multiple sclerosis receiving ONO-4641, a sphingosine-1- on behalf of the DreaMS study phosphate receptor-1 and -5 agonist: interim results from an investigators extension of the DreaMS study ● 15:45 - 17:00 Immunomodulation/ - - - - - A. Savinainen, S. El Bawab, T. ONO-4641, a potent and selective sphingosine-1-phosphate Immunosuppression Crandall, R. Chang, U. Boschert, T. receptor-1 and -5 agonist, results in less lymphopenia than Dellovade fingolimod at effective doses in a preclinical model of multiple sclerosis Source: ECTRIMS, Credit Suisse estimates

Exhibit 55: Complete Planner: ONO4641 – Friday, October 4, 2013 Friday, October 4, 2013 Key? Time Event/Topic Location Authors Title ID ● 15:30 - 17:00 Immunomodulation/ - - - - - F. Zipp, T. Vollmer, A. Bar-Or, B. Due, Relapse rates in patients with multiple sclerosis receiving P 992 Immunosuppression K. Thangavelu, T.Z. Fischer, K. Selmaj ONO-4641, a sphingosine-1-phosphate receptor-1 and -5 on behalf of the DreaMS study agonist: interim results from an extension of the DreaMS investigators study ● 15:30 - 17:00 Immunomodulation/ - - - - - A. Bar-Or, F. Zipp, T. Vollmer, B. Due, Safety of ONO-4641 in patients with relapsing remitting P 997 Immunosuppression K. Thangavelu, J. Johnson, K. Selmaj multiple sclerosis: results from a six-month interim analysis on behalf of the DreaMS study of the DreaMS extension study investigators ● 15:30 - 17:00 Immunomodulation/ - - - - - F. Bernard, D. Yu, A. Gray, U. Efficacy of ONO-4641, a potent and selective sphingosine-1- P 1007 Immunosuppression Boschert, T. Dellovade, D. Graham phosphate receptor-1 and -5 agonist, in a preclinical model of multiple sclerosis Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 49 09 September 2013

Exhibit 56: Complete Planner: RPC1063 – Thursday, October 3, 2013 Thursday, October 3, 2013 Key? Time Event/Topic Location Authors Title ID ● 15:45 - 17:00 Experimental models - - - - - R. Peach, J. Brooks, H. Dedman, R. RPC1063, a potent and selective sphingosine 1-phosphate 1 P 375 Powell, F. Scott, G. Timony receptor modulator, has a favourable preclinical safety profile

Source: ECTRIMS, Credit Suisse estimates

Exhibit 57: Complete Planner: RPC1063 – Friday, October 4, 2013 Friday, October 4, 2013 Key? Time Event/Topic Location Authors Title ID ● 15:30 - 17:00 Immunomodulation/ - - - - - J. Hartung, A. Olson, R. Peach, M. Results of a thorough QT/QTc (TQT) study of orally P 983 Immunosuppression Boehm, B. Mendzelevski, D. Chanter, administered RPC1063, a novel, selective S1P1 receptor H. Smith, C. Pan, G. Timony, S. agonist, in healthy adult volunteers Gujrathi Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 50 09 September 2013

Exhibit 58: Complete Planner: Copaxone – Thursday, October 3, 2013 Thursday, October 3, 2013 Key? Time Event/Topic Location Authors Title ID 15:45 - 17:00 Long-term treatment - - - - - C. Ford, D. Ladkani on behalf of the US Twenty years of continuous treatment of multiple sclerosis P 577 monitoring Open-Label Glatiramer Acetate Study with glatiramer acetate 20mg daily: long-term clinical results Group of the US open-label extension study Source: ECTRIMS, Credit Suisse estimates

Exhibit 59: Complete Planner: Copaxone – Friday, October 4, 2013 Friday, October 4, 2013 Key? Time Event/Topic Location Authors Title ID ● 15:30 - 17:00 Immunomodulation/ - - - - - T. Ziemssen, O. Bajenaru, A. Carrá, N. COPTIMIZE: a two-year observational survey of patients with P 973 Immunosuppression de Klippel, J. de Sá, A. Edland, J. relapsing remitting multiple sclerosis switching to glatiramer Frederiksen, O. Heinzlef, K. acetate 20 mg daily Karageorgiou, A.M. Landtblom, M. Macías Islas, N. Tubridy, Y. Gilgun- Sherki Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 51 09 September 2013

Exhibit 60: Complete Planner: BIIB033 – Thursday, October 3, 2013 Thursday, October 3, 2013 Key? Time Event/Topic Location Authors Title ID 15:45 - 17:00 Experimental models - - - - - B. Hu, K-F. So, B. Pepinsky, S. Mi Blocking LINGO1 promotes axonal regeneration in the rat P 378 optic nerve crush model ● 15:45 - 17:00 Immunomodulation/ - - - - - D. Cadavid, I. Melamed, H. Gevorkyan, The use of magnetic resonance imaging to monitor the safety P 545 Immunosuppression N. Richert of anti-LINGO-1: findings from phase 1 studies in healthy volunteers and subjects with multiple sclerosis Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 52 09 September 2013

Exhibit 61: Complete Planner: Other Compounds – Thursday, October 3, 2013 Thursday, October 3, 2013 Key? Time Event/Topic Location Authors Title ID ● 15:45 - 17:00 Immunomodulation/ - - - - - S.Y. Hong, J. Park, W. Park, H. Park, Efficacy and safety of LC510201, an orally active, selective P 552 Immunosuppression D. Park, J. Choi, S. Baek, J. Park, H. sphingosine-1-phosphate receptor 1 (S1P1) and -5 (S1P5) Park agonist, in preclinical models of multiple sclerosis 15:45 - 17:00 Quality of life - - - - - R. Macdonell, P.S. Sorensen, C. Long-term prolonged-release fampridine treatment and health- P 665 Pozzilli, G. Nagels, D. Laplaud, B. de related quality of life outcomes: nine-month interim analysis of Jong, A. Martins Silva, R. Nicholas, the ENABLE study J.A. Gaebler, S. Agarwal, J. Sun 15:45 - 17:00 Quality of life - - - - - C. Pozzilli, R. Macdonell, P.S. Health-related quality of life outcomes following long-term P 658 Sorensen, G. Nagels, D. Laplaud, B. de treatment with prolonged-release fampridine: impact on Jong, A. Martins Silva, R. Nicholas, J. psychological outcomes in the ENABLE study Gaebler, J. Sun Source: ECTRIMS, Credit Suisse estimates

Exhibit 62: Complete Planner: Other Compounds – Friday, October 4, 2013 Friday, October 4, 2013 Key? Time Event/Topic Location Authors Title ID 14:40 - 14:52 Looking into the future: Hall D S.H. Nye, S. Medicetty, B.D. Trapp, NDC-1308 induces remyelination in experimental models of 209 experimental studies of J.G. Yarger multiple sclerosis new therapies

● 15:30 - 17:00 Immunomodulation/ - - - - - C. Pozzilli, Ó. Fernández, T. Olsson, Maintenance of efficacy, safety and tolerability of ponesimod P 995 Immunosuppression M.S. Freedman, M. Melanson, A. in patients with relapsing remitting multiple sclerosis: phase II Boster, E.-W. Radue, B. Hennessy, A. extension study Rames, D. D'Ambrosio 15:30 - 17:00 Quality of life - - - - - P.S. Sorensen, R. Macdonell, C. Changes in physical functioning and activity following long- P 1128 Pozzilli, G. Nagels, D. Laplaud, B. de term treatment with prolonged-release fampridine in the Jong, A. Martins Silva, R. Nicholas, J. ENABLE study Gaebler, S. Agarwal, J. Sun 15:30 - 17:00 Late Breaking News - - - - - I.B. Bruinsma, S. van Vugt, H. ter Burg, miR-219: clinical implications for MS? P 1191 T. van de Lisdonk, E.J. Kooi, S.E. Baranzini, X. Ji, R.A. Sobel, J.J.G. Geurts, L. Steinman, B.A. de Jong

15:30 - 17:00 Late Breaking News - - - - - J.O. Watzlawik, A.E. Warrington, M. rHIgM22 stimulates remyelination in chronically demyelinated P 1194 Rodriguez spinal cord lesions through a single minimal dose

15:30 - 17:00 Late Breaking News - - - - - J.O. Watzlawik, A.E. Warrington, M. Growth factors PDGF and FGF-2 are required for human P 1195 Rodriguez recombinant rHIgM22-mediated stimulation of oligodendrocyte proliferation and survival Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 53 09 September 2013

Exhibit 63: Complete Planner: Plegridy – Thursday, October 3, 2013 Thursday, October 3, 2013 Key? Time Event/Topic Location Authors Title ID ● 15:45 - 17:00 Immunomodulation/ - - - - - P. Calabresi, B. Kieseier, D. Arnold, L. Peginterferon beta-1a provides improvements in clinical and P 514 Immunosuppression Balcer, A. Boyko, J. Pelletier, S. Liu, Y. radiological disease activity in relapsing-remitting multiple Zhu, X. You, A. Seddighzadeh, B. sclerosis: year 1 findings from the phase 3 ADVANCE study Sperling, S. Hung, A. Deykin ● 15:45 - 17:00 Immunomodulation/ - - - - - B. Kieseier, P. Calabresi, D. Arnold, Y. Subgroup and sensitivity analyses of the primary endpoint P 539 Immunosuppression Zhu, S. Liu, S. Hung, A. Deykin, S. from the peginterferon beta-1a ADVANCE study: a pivotal Sheikh phase 3 study in patients with relapsing-remitting multiple sclerosis ● 15:45 - 17:00 Immunomodulation/ - - - - - B. Kieseier, P. Calabresi, S. Liu, Y. Effect of peginterferon beta-1a on disability progression in P 540 Immunosuppression Zhu, X. You, B. Sperling, S. Sheikh, S. patients with relapsing remitting multiple sclerosis: year 1 Hung, A. Deykin data from the pivotal phase 3 ADVANCE study 15:45 - 17:00 Risk management for - - - - - J. White, P. Calabresi, Y. Zhu, T. Song, Immunogenicity with peginterferon beta-1a in patients with P 600 disease modifying A. Seddighzadeh, S. Hung , A. Deykin, relapsing-remitting multiple sclerosis: data from the pivotal treatments M. Subramanyam phase 3 ADVANCE study Source: ECTRIMS, Credit Suisse estimates

Exhibit 64: Complete Planner: Plegridy – Friday, October 4, 2013 Friday, October 4, 2013 Key? Time Event/Topic Location Authors Title ID ● 15:30 - 17:00 Immunomodulation/ - - - - - D. Arnold, P. Calabresi, B. Kieseier, Y. Magnetic resonance imaging results from the first year of the P 989 Immunosuppression Zhu, S. Liu, S. Hung, A. Deykin, S. ADVANCE study, a pivotal phase 3 trial of peginterferon beta- Sheikh 1a in patients with relapsing-remitting multiple sclerosis

● 15:30 - 17:00 Risk management for - - - - - B. Kieseier, P. Calabresi, T. Song, Y. Safety and tolerability of peginterferon beta-1a in patients with P 1061 disease modifying Zhu, S. Hung, A. Deykin, A. relapsing-remitting multiple sclerosis: data from the pivotal treatments Seddighzadeh phase 3 ADVANCE study Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 54 09 September 2013

Exhibit 65: Complete Planner: Secukinumab – Thursday, October 3, 2013 Thursday, October 3, 2013 Key? Time Event/Topic Location Authors Title ID 15:45 - 17:00 Immunomodulation/ - - - - - E. Havrdova, A. Belova, A. Sensitivity analysis of a phase IIa study of secukinumab in P 520 Immunosuppression Goloborodko, A. Tisserant, A. Wright, relapsing remitting multiple sclerosis H. Garren, E. Wallstroem, A. de Vera, D.R. Johns Source: ECTRIMS, Credit Suisse estimates

Exhibit 66: Complete Planner: Secukinumab – Friday, October 4, 2013 Friday, October 4, 2013 Key? Time Event/Topic Location Authors Title ID 15:30 - 17:00 Immunomodulation/ - - - - - K. Jeanneau, G. Elain, A.K. Mir, K.K. The Anti-IL17A monoclonal antibody secukinumab (AIN457) P 998 Immunosuppression Dev attenuates IL17 and TNF-induced production of IL6 in human astrocytes ● 15:30 - 17:00 Others - - - - - R. Rudick, H. Wiendl, L. Steinman, A. Efficacy and safety of AIN457 (secukinumab) in patients with P 1103 Bar-Or, R. Bhore, D. Bennett, M. relapsing multiple sclerosis: design of an adaptive dose- Bieniek, A. de Vera, X. Montalban ranging phase 2 study Source: ECTRIMS, Credit Suisse estimates

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 55

MultipleSclerosis Exhibit 67: CS Biotech Coverage Universe: 46 stocks under coverage Market Cap CS Market Cap CS Company Name Ticker ($M) CS Rating Target Price Last Price Coverage Company Name Ticker ($M) CS Rating Target Price Last Price Coverage Large Cap Hospital Antibiotics Amgen Inc. AMGN $85,025 NEUTRAL $120.00 $112.93 RM/LK Cubist Pharmaceuticals, Inc. CBST $4,224 OUTPERFORM $69.00 $63.98 JK/JS Biogen Idec Inc. BIIB $54,118 OUTPERFORM $255.00 $227.70 RM/LK Durata Therapeutics, Inc. DRTX $233 OUTPERFORM $15.00 $8.74 JK/JS

Revolutionover Evolution: ECTRIMS2013 Celgene Corporation CELG $59,867 NEUTRAL $135.00 $145.59 RM/LK The Medicines Company MDCO $1,812 OUTPERFORM $15.00 $14.87 JK/JS Gilead Sciences, Inc. GILD $93,369 OUTPERFORM $67.00 $61.07 RM/LK Obesity SMID Cap Arena Pharmaceuticals, Inc. ARNA $1,419 UNDERPERFORM $5.00 $6.50 LK/RM Antibody Orexigen Therapeutics, Inc. OREX $685 OUTPERFORM $11.00 $6.92 LK/RM ImmunoGen, Inc. IMGN $1,448 NEUTRAL $16.00 $17.09 JK/JS VIVUS, Inc. VVUS $1,093 NEUTRAL $14.00 $10.84 LK/RM PDL BioPharma, Inc. PDLI $1,095 UNDERPERFORM $6.00 $7.83 JK/JS Oncology SMID Regeneron Pharmaceuticals, Inc. REGN $26,515 OUTPERFORM $275.00 $268.64 JK/JS Ariad Pharmaceuticals Inc. ARIA $3,841 NEUTRAL $22.00 $20.75 JK/JS Seattle Genetics, Inc. SGEN $5,364 OUTPERFORM $46.00 $44.16 JK/JS Clovis Oncology, Inc. CLVS $1,929 OUTPERFORM $78.00 $63.94 RM/LK XOMA Corporation XOMA $416 OUTPERFORM $5.00 $4.59 JK/JS Endocyte ECYT $541 OUTPERFORM $24.00 $15.03 JK/JS Commercial-Stage SMID Infinity Pharmaceuticals INFI $969 OUTPERFORM $32.00 $20.19 JK/JS Actelion Ltd. ATLN-CH $8,014 OUTPERFORM CHF 66.00 CHF 62.95 RM/LK Pharmacyclics PCYC $8,662 OUTPERFORM $121.00 $118.42 JK/JS Corcept Therapeutics Incorporated.CORT $170 NEUTRAL $2.00 $1.70 RM/KC Sunesis Pharmaceuticals SNSS $257 NEUTRAL $6.00 $4.97 JK/JS InterMune, Inc. ITMN $1,218 OUTPERFORM $15.00 $14.87 RM/KC Spectrum Pharmaceuticals SPPI $488 UNDERPERFORM $7.00 $8.10 JK/JS United Therapeutics Corporation UTHR $3,697 NEUTRAL $40.00 $74.14 RM/KC Orphan Drugs XenoPort, Inc. XNPT $238 OUTPERFORM $7.00 $5.01 RM/KC Alexion Pharmaceuticals Inc. ALXN $21,998 NEUTRAL $114.00 $112.49 LK/RM Constipation / IBS-C BioMarin Pharmaceutical Inc. BMRN $9,920 NEUTRAL $68.00 $70.80 LK/RM Ironwood Pharmaceuticals, Inc. ClassIRWD A $1,503 OUTPERFORM $16.00 $12.46 RM/JC PTC Therapeutics Inc. PTCT $476 OUTPERFORM $24.00 $19.10 JK/JS Sucampo Pharmaceuticals, Inc. ClassSCMP A $250 NEUTRAL $8.00 $5.98 RM/JC Prostate Cancer Synergy Pharmaceuticals, Inc. SGYP $410 OUTPERFORM $9.30 $4.55 RM/JC Algeta ASA ALGETA-OSL $1,735 NEUTRAL NOK 215.00 NOK 243.00 LK/RM Development-Stage SMID Dendreon Corporation DNDN $450 NEUTRAL $3.00 $2.85 LK/RM Esperion Therapeutics, Inc. ESPR $222 OUTPERFORM $26.00 $15.27 JK/JS Exelixis, Inc. EXEL $988 NEUTRAL $5.00 $5.37 LK/RM Portola Pharmaceuticals, Inc. PTLA $916 OUTPERFORM $32.00 $26.05 JK/JS Medivation, Inc. MDVN $4,543 OUTPERFORM $77.00 $60.50 LK/RM Receptos, Inc. RCPT $329 OUTPERFORM $21.00 $17.92 RM/KC * Last Price as of Sept 6, 2013 Vical Incorporated VICL $103 NEUTRAL $2.00 $1.19 LK/RM HCV Achillion Pharmaceuticals, Inc. ACHN $678 OUTPERFORM $11.00 $7.02 RM/KC Enanta Pharmaceuticals, Inc. ENTA $338 OUTPERFORM $29.00 $18.98 RM/KC Idenix Pharmaceuticals, Inc. IDIX $687 UNDERPERFORM $4.00 $5.13 RM/KC Medivir AB Class B MVIR.B-OME $375 OUTPERFORM SEK 115.00 SEK 81.75 RM/KC Vertex Pharmaceuticals IncorporatedVRTX $18,198 NEUTRAL $80.00 $78.38 RM/KC

Source: FactSet, Credit Suisse estimates

09 September09 2013

09 September 2013

Companies Mentioned (Price as of 06-Sep-2013) AbbVie Inc. (ABBV.N, $43.89) Actelion (ATLN.VX, SFr62.2) Active Biotech (ACTI.ST, Skr57.0) Bayer (BAYGn.DE, €83.46) Biogen Idec (BIIB.OQ, $225.18) Elan Corp (ELN.I, €11.675) Merck KGaA (MRCG.DE, €111.8) Mitsubishi Chemical Holdings (4188.T, ¥470) Novartis (NOVN.VX, SFr71.1) ONO PHARM (4528.OS, ¥6,790) Pfizer (PFE.N, $28.28) Roche (ROG.VX, SFr235.1) Sanofi (SASY.PA, €74.07) Teva Pharmaceutical Ind. (TEVA.N, $38.54)

See Exhibit 67 for other companies mentioned.

Disclosure Appendix

Important Global Disclosures Ravi Mehrotra PhD, Lee Kalowski, Jason Kantor, PhD and Catherine Arnold each certify, with respect to the companies or securities that the individual analyzes, that (1) the views expressed in this report accurately reflect his or her personal views about all of the subject companies and securities and (2) no part of his or her compensation was, is or will be directly or indirectly related to the specific recommendations or views expressed in this report. The analyst(s) responsible for preparing this research report received Compensation that is based upon various factors including Credit Suisse's total revenues, a portion of which are generated by Credit Suisse's investment banking activities As of December 10, 2012 Analysts’ stock rating are defined as follows: Outperform (O) : The stock’s total return is expected to outperform the relevant benchmark*over the next 12 months. Neutral (N) : The stock’s total return is expected to be in line with the relevant benchmark* over the next 12 months. Underperform (U) : The stock’s total return is expected to underperform the relevant benchmark* over the next 12 months. *Relevant benchmark by region: As of 10th December 2012, Japanese ratings are based on a stock’s total return relative to the analyst's coverage universe which consists of all companies covered by the analyst within the relevant sector, with Outperforms representing the most attractive, Neutrals the less attractive, and Underperforms the least attractive investment opportunities. As of 2nd October 2012, U.S. and Canadian as well as European ra tings are based on a stock’s total return relative to the analyst's coverage universe which consists of all companies covered by the analyst within the relevant sector, with Ou tperforms representing the most attractive, Neutrals the less attractive, and Underperforms the least attractive investment opportunities. For Latin American and non-Japan Asia stocks, ratings are based on a stock’s total return relative to the average total return of the relevant country or regional benchmark; Austr alia, New Zealand are, and prior to 2nd October 2012 U.S. and Canadian ratings were based on (1) a stock’s absolute total return potential to its current share price and (2) the relative attract iveness of a stock’s total return potential within an analyst’s coverage universe. For Australian and New Zealand stocks, 12 -month rolling yield is incorporated in the absolute total return calculation and a 15% and a 7.5% threshold replace the 10-15% level in the Outperform and Underperform stock rating definitions, respectively. The 15% and 7.5% thresholds replace the +10-15% and -10-15% levels in the Neutral stock rating definition, respectively. Prior to 10th December 2012, Japanese ratings were based on a stock’s total return relative to the average total return of the relevant country or regional benchmark. Restricted (R) : In certain circumstances, Credit Suisse policy and/or applicable law and regulations preclude certain types of communications, including an investment recommendation, during the course of Credit Suisse's engagement in an investment banking transaction and in certain other circumstances.

Volatility Indicator [V] : A stock is defined as volatile if the stock price has moved up or down by 20% or more in a month in at least 8 of the past 24 months or the analyst expects significant volatility going forward.

Analysts’ sector weightings are distinct from analysts’ stock ratings and are based on the analyst’s expectations for the fundamentals and/or valuation of the sector* relative to the group’s historic fundamentals and/or valuation: Overweight : The analyst’s expectation for the sector’s fundamentals and/or valuation is favorable over the next 12 months. Market Weight : The analyst’s expectation for the sector’s fundamentals and/or valuation is neutral over the next 12 months. Underweight : The analyst’s expectation for the sector’s fundamentals and/or valuation is cautious over the next 12 months. *An analyst’s coverage sector consists of all companies covered by the analyst within the relevant sector. An analyst may cov er multiple sectors.

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 57 09 September 2013

Credit Suisse's distribution of stock ratings (and banking clients) is:

Global Ratings Distribution Rating Versus universe (%) Of which banking clients (%) Outperform/Buy* 42% (55% banking clients) Neutral/Hold* 40% (49% banking clients) Underperform/Sell* 15% (39% banking clients) Restricted 3% *For purposes of the NYSE and NASD ratings distribution disclosure requirements, our stock ratings of Outperform, Neutral, an d Underperform most closely correspond to Buy, Hold, and Sell, respectively; however, the meanings are not the same, as our stock ratings are determined on a relative basis. (Please refer to definitions above.) An investor's decision to buy or sell a security should be based on investment objectives, current holdin gs, and other individual factors.

Credit Suisse’s policy is to update research reports as it deems appropriate, based on developments with the subject company, the sector or the market that may have a material impact on the research views or opinions stated herein. Credit Suisse's policy is only to publish investment research that is impartial, independent, clear, fair and not misleading. For more detail please refer to Credit Suisse's Policies for Managing Conflicts of Interest in connection with Investment Research: http://www.csfb.com/research and analytics/disclaimer/managing_conflicts_disclaimer.html Credit Suisse does not provide any tax advice. Any statement herein regarding any US federal tax is not intended or written to be used, and cannot be used, by any taxpayer for the purposes of avoiding any penalties.

Please refer to the firm's disclosure website at https://rave.credit-suisse.com/disclosures for the definitions of abbreviations typically used in the target price method and risk sections.

Important Regional Disclosures Singapore recipients should contact Credit Suisse AG, Singapore Branch for any matters arising from this research report. Restrictions on certain Canadian securities are indicated by the following abbreviations: NVS--Non-Voting shares; RVS--Restricted Voting Shares; SVS--Subordinate Voting Shares. Individuals receiving this report from a Canadian investment dealer that is not affiliated with Credit Suisse should be advised that this report may not contain regulatory disclosures the non-affiliated Canadian investment dealer would be required to make if this were its own report. For Credit Suisse Securities (Canada), Inc.'s policies and procedures regarding the dissemination of equity research, please visit http://www.csfb.com/legal_terms/canada_research_policy.shtml. As of the date of this report, Credit Suisse acts as a market maker or liquidity provider in the equities securities that are the subject of this report. Principal is not guaranteed in the case of equities because equity prices are variable. Commission is the commission rate or the amount agreed with a customer when setting up an account or at any time after that. To the extent this is a report authored in whole or in part by a non-U.S. analyst and is made available in the U.S., the following are important disclosures regarding any non-U.S. analyst contributors: The non-U.S. research analysts listed below (if any) are not registered/qualified as research analysts with FINRA. The non-U.S. research analysts listed below may not be associated persons of CSSU and therefore may not be subject to the NASD Rule 2711 and NYSE Rule 472 restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account. Credit Suisse Securities (Europe) Limited ...... European Pharma Team

For Credit Suisse disclosure information on other companies mentioned in this report, please visit the website at https://rave.credit- suisse.com/disclosures or call +1 (877) 291-2683.

Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 58 09 September 2013

References in this report to Credit Suisse include all of the subsidiaries and affiliates of Credit Suisse operating under its investment banking division. For more information on our structure, please use the following link: https://www.credit-suisse.com/who_we_are/en/This report may contain material that is not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would subject Credit Suisse AG or its affiliates ("CS") to any registration or licensing requirement within such jurisdiction. All material presented in this report, unless specifically indicated otherwise, is under copyright to CS. None of the material, nor its content, nor any copy of it, may be altered in any way, transmitted to, copied or distributed to any other party, without the prior express written permission of CS. All trademarks, service marks and logos used in this report are trademarks or service marks or registered trademarks or service marks of CS or its affiliates. The information, tools and material presented in this report are provided to you for information purposes only and are not to be used or considered as an offer or the solicitation of an offer to sell or to buy or subscribe for securities or other financial instruments. CS may not have taken any steps to ensure that the securities referred to in this report are suitable for any particular investor. CS will not treat recipients of this report as its customers by virtue of their receiving this report. The investments and services contained or referred to in this report may not be suitable for you and it is recommended that you consult an independent investment advisor if you are in doubt about such investments or investment services. Nothing in this report constitutes investment, legal, accounting or tax advice, or a representation that any investment or strategy is suitable or appropriate to your individual circumstances, or otherwise constitutes a personal recommendation to you. CS does not advise on the tax consequences of investments and you are advised to contact an independent tax adviser. Please note in particular that the bases and levels of taxation may change. Information and opinions presented in this report have been obtained or derived from sources believed by CS to be reliable, but CS makes no representation as to their accuracy or completeness. CS accepts no liability for loss arising from the use of the material presented in this report, except that this exclusion of liability does not apply to the extent that such liability arises under specific statutes or regulations applicable to CS. This report is not to be relied upon in substitution for the exercise of independent judgment. CS may have issued, and may in the future issue, other communications that are inconsistent with, and reach different conclusions from, the information presented in this report. Those communications reflect the different assumptions, views and analytical methods of the analysts who prepared them and CS is under no obligation to ensure that such other communications are brought to the attention of any recipient of this report. CS may, to the extent permitted by law, participate or invest in financing transactions with the issuer(s) of the securities referred to in this report, perform services for or solicit business from such issuers, and/or have a position or holding, or other material interest, or effect transactions, in such securities or options thereon, or other investments related thereto. In addition, it may make markets in the securities mentioned in the material presented in this report. CS may have, within the last three years, served as manager or co-manager of a public offering of securities for, or currently may make a primary market in issues of, any or all of the entities mentioned in this report or may be providing, or have provided within the previous 12 months, significant advice or investment services in relation to the investment concerned or a related investment. Additional information is, subject to duties of confidentiality, available on request. Some investments referred to in this report will be offered solely by a single entity and in the case of some investments solely by CS, or an associate of CS or CS may be the only market maker in such investments. Past performance should not be taken as an indication or guarantee of future performance, and no representation or warranty, express or implied, is made regarding future performance. Information, opinions and estimates contained in this report reflect a judgment at its original date of publication by CS and are subject to change without notice. The price, value of and income from any of the securities or financial instruments mentioned in this report can fall as well as rise. The value of securities and financial instruments is subject to exchange rate fluctuation that may have a positive or adverse effect on the price or income of such securities or financial instruments. Investors in securities such as ADR's, the values of which are influenced by currency volatility, effectively assume this risk. Structured securities are complex instruments, typically involve a high degree of risk and are intended for sale only to sophisticated investors who are capable of understanding and assuming the risks involved. The market value of any structured security may be affected by changes in economic, financial and political factors (including, but not limited to, spot and forward interest and exchange rates), time to maturity, market conditions and volatility, and the credit quality of any issuer or reference issuer. Any investor interested in purchasing a structured product should conduct their own investigation and analysis of the product and consult with their own professional advisers as to the risks involved in making such a purchase. Some investments discussed in this report may have a high level of volatility. High volatility investments may experience sudden and large falls in their value causing losses when that investment is realised. Those losses may equal your original investment. Indeed, in the case of some investments the potential losses may exceed the amount of initial investment and, in such circumstances, you may be required to pay more money to support those losses. Income yields from investments may fluctuate and, in consequence, initial capital paid to make the investment may be used as part of that income yield. Some investments may not be readily realisable and it may be difficult to sell or realise those investments, similarly it may prove difficult for you to obtain reliable information about the value, or risks, to which such an investment is exposed. This report may provide the addresses of, or contain hyperlinks to, websites. Except to the extent to which the report refers to website material of CS, CS has not reviewed any such site and takes no responsibility for the content contained therein. Such address or hyperlink (including addresses or hyperlinks to CS's own website material) is provided solely for your convenience and information and the content of any such website does not in any way form part of this document. Accessing such website or following such link through this report or CS's website shall be at your own risk. This report is issued and distributed in Europe (except Switzerland) by Credit Suisse Securities (Europe) Limited, One Cabot Square, London E14 4QJ, England, which is authorised by the Prudential Regulation Authority ("PRA") and regulated by the Financial Conduct Authority ("FCA") and the PRA. This report is being distributed in Germany by Credit Suisse Securities (Europe) Limited Niederlassung Frankfurt am Main regulated by the Bundesanstalt fuer Finanzdienstleistungsaufsicht ("BaFin"). This report is being distributed in the United States and Canada by Credit Suisse Securities (USA) LLC; in Switzerland by Credit Suisse AG; in Brazil by Banco de Investimentos Credit Suisse (Brasil) S.A or its affiliates; in Mexico by Banco Credit Suisse (México), S.A. (transactions related to the securities mentioned in this report will only be effected in compliance with applicable regulation); in Japan by Credit Suisse Securities (Japan) Limited, Financial Instruments Firm, Director-General of Kanto Local Finance Bureau (Kinsho) No. 66, a member of Japan Securities Dealers Association, The Financial Futures Association of Japan, Japan Investment Advisers Association, Type II Financial Instruments Firms Association; elsewhere in Asia/ Pacific by whichever of the following is the appropriately authorised entity in the relevant jurisdiction: Credit Suisse (Hong Kong) Limited, Credit Suisse Equities (Australia) Limited, Credit Suisse Securities (Thailand) Limited, having registered address at 990 Abdulrahim Place, 27 Floor, Unit 2701, Rama IV Road, Silom, Bangrak, Bangkok 10500, Thailand, Tel. +66 2614 6000, Credit Suisse Securities (Malaysia) Sdn Bhd, Credit Suisse AG, Singapore Branch, Credit Suisse Securities (India) Private Limited regulated by the Securities and Exchange Board of India (registration Nos. INB230970637; INF230970637; INB010970631; INF010970631), having registered address at 9th Floor, Ceejay House, Dr.A.B. Road, Worli, Mumbai - 18, India, T- +91-22 6777 3777, Credit Suisse Securities (Europe) Limited, Seoul Branch, Credit Suisse AG, Taipei Securities Branch, PT Credit Suisse Securities Indonesia, Credit Suisse Securities (Philippines ) Inc., and elsewhere in the world by the relevant authorised affiliate of the above. Research on Taiwanese securities produced by Credit Suisse AG, Taipei Securities Branch has been prepared by a registered Senior Business Person. Research provided to residents of Malaysia is authorised by the Head of Research for Credit Suisse Securities (Malaysia) Sdn Bhd, to whom they should direct any queries on +603 2723 2020. This report has been prepared and issued for distribution in Singapore to institutional investors, accredited investors and expert investors (each as defined under the Financial Advisers Regulations) only, and is also distributed by Credit Suisse AG, Singapore branch to overseas investors (as defined under the Financial Advisers Regulations). By virtue of your status as an institutional investor, accredited investor, expert investor or overseas investor, Credit Suisse AG, Singapore branch is exempted from complying with certain compliance requirements under the Financial Advisers Act, Chapter 110 of Singapore (the "FAA"), the Financial Advisers Regulations and the relevant Notices and Guidelines issued thereunder, in respect of any financial advisory service which Credit Suisse AG, Singapore branch may provide to you. This research may not conform to Canadian disclosure requirements. In jurisdictions where CS is not already registered or licensed to trade in securities, transactions will only be effected in accordance with applicable securities legislation, which will vary from jurisdiction to jurisdiction and may require that the trade be made in accordance with applicable exemptions from registration or licensing requirements. Non-U.S. customers wishing to effect a transaction should contact a CS entity in their local jurisdiction unless governing law permits otherwise. U.S. customers wishing to effect a transaction should do so only by contacting a representative at Credit Suisse Securities (USA) LLC in the U.S. Please note that this research was originally prepared and issued by CS for distribution to their market professional and institutional investor customers. Recipients who are not market professional or institutional investor customers of CS should seek the advice of their independent financial advisor prior to taking any investment decision based on this report or for any necessary explanation of its contents. This research may relate to investments or services of a person outside of the UK or to other matters which are not authorised by the PRA and regulated by the FCA and the PRA or in respect of which the protections of the PRA and FCA for private customers and/or the UK compensation scheme may not be available, and further details as to where this may be the case are available upon request in respect of this report. CS may provide various services to US municipal entities or obligated persons ("municipalities"), including suggesting individual transactions or trades and entering into such transactions. Any services CS provides to municipalities are not viewed as "advice" within the meaning of Section 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. CS is providing any such services and related information solely on an arm's length basis and not as an advisor or fiduciary to the municipality. In connection with the provision of the any such services, there is no agreement, direct or indirect, between any municipality (including the officials, management, employees or agents thereof) and CS for CS to provide advice to the municipality. Municipalities should consult with their financial, accounting and legal advisors regarding any such services provided by CS. In addition, CS is not acting for direct or indirect compensation to solicit the municipality on behalf of an unaffiliated broker, dealer, municipal securities dealer, municipal advisor, or investment adviser for the purpose of obtaining or retaining an engagement by the municipality for or in connection with Municipal Financial Products, the issuance of municipal securities, or of an investment adviser to provide investment advisory services to or on behalf of the municipality. If this report is being distributed by a financial institution other than Credit Suisse AG, or its affiliates, that financial institution is solely responsible for distribution. Clients of that institution should contact that institution to effect a transaction in the securities mentioned in this report or require further information. This report does not constitute investment advice by Credit Suisse to the clients of the distributing financial institution, and neither Credit Suisse AG, its affiliates, and their respective officers, directors and employees accept any liability whatsoever for any direct or consequential loss arising from their use of this report or its content. Principal is not guaranteed. Commission is the commission rate or the amount agreed with a customer when setting up an account or at any time after that. Copyright © 2013 CREDIT SUISSE AG and/or its affiliates. All rights reserved. Investment principal on bonds can be eroded depending on sale price or market price. In addition, there are bonds on which investment principal can be eroded due to changes in redemption amounts. Care is required when investing in such instruments. When you purchase non-listed Japanese fixed income securities (Japanese government bonds, Japanese municipal bonds, Japanese government guaranteed bonds, Japanese corporate bonds) from CS as a seller, you will be requested to pay the purchase price only.

CS ECTRIMS 2013 - Its a Multiple Sclerosis - Revolution over Evolution: ECTRIMS 2013 revolution_KCV3.doc59