Microsoft PowerPoint Presentation

5/2/2002

Click here to start

Table of Contents

Year End 2001 – Q102

Proven Criteria for an Oral Product

Emisphere’s Oral Drug Delivery Technology

Established Technology Platform

Literature Supporting Phase III PROTECT Trial

Design Rationale: Referencing Comparable Studies

Heparin vs. LMWH vs. Arixtra

Oral Delivery:Function Follows the Anatomy

Insulin Oral Delivery Potential

Oral Cromolyn Sodium

Summary of Clinical Data

Current Cash and Assets

2002 Milestones

Investment Thesis

Continued Leadership Position in Oral Drug Delivery

Author: Shepard M. Goldberg