Financial Report 2007
This Information is Intended for Investors

Cover
Financial Review
Introduction
Overview of Our Performance and Operating Environment
Accounting Policies
Analysis of the Consolidated Statement of Income
Revenues
Revenues - Major Pharmaceutical Products
Animal Health
Costs and Expenses
Adjusted Income
Financial Condition, Liquidity and Capital Resources
New Accounting Standards
Management's Report on Internal Control Audit Committee's Report Over Financial Reporting
Report of Independent Registered Public Accounting Firm on the Consolidated Financial Statements
Internal Control Over Financial Reporting
Consolidated Statements of Income
Consolidated Balance Sheets
Consolidated Statements of Shareholders' Equity
Consolidated Statements of Cash Flows
Notes to Consolidated Financial Statements
Note 1 - Significant Accounting Policies
Note 2 - Acquisitions
Note 3 - Discontinued Operations
Note 4 - Asset Impairment Charges and Other Costs Associated with Exiting Exubera
Note 5 - Cost-Reduction Initiatives
Note 6 - Acquisition-Related Costs
Note 7 - Other (Income)/Deductions-Net
Note 8 - Taxes on Income
Note 9 - Other Comprehensive Income/(Expense)
Note 10 - Financial Instruments
Note 11 - Inventories
Note 12 - Property, Plant and Equipment
Note 13 - Goodwill and Other Intangible Assets
Note 14 - Pension and Postretirement Benefit Plans and Defined Contribution Plans
Note 15 - Equity
Note 16 - Share-Based Payments
Note 17 - Earnings per Common Share
Note 18 - Earnings per Common Share
Note 19 - Insurance
Note 20 - Legal Proceedings and Contingencies
Note 21 - Segment, Geographic and Revenue Information
Quarterly Consolidated Financial Data (Unaudited) 2007
Quarterly Consolidated Financial Data (Unaudited) 2006
Financial Summary
Peer Group Performance Graph
Financial Review
Introduction
Overview of Our Performance and Operating Environment
Accounting Policies
Analysis of the Consolidated Statement of Income
Revenues
Revenues - Major Pharmaceutical Products
Animal Health
Costs and Expenses
Adjusted Income
Financial Condition, Liquidity and Capital Resources
New Accounting Standards
Management's Report on Internal Control Audit Committee's Report Over Financial Reporting
Report of Independent Registered Public Accounting Firm on the Consolidated Financial Statements
Internal Control Over Financial Reporting
Consolidated Statements of Income
Consolidated Balance Sheets
Consolidated Statements of Shareholders' Equity
Consolidated Statements of Cash Flows
Notes to Consolidated Financial Statements
Note 1 - Significant Accounting Policies
Note 2 - Acquisitions
Note 3 - Discontinued Operations
Note 4 - Asset Impairment Charges and Other Costs Associated with Exiting Exubera
Note 5 - Cost-Reduction Initiatives
Note 6 - Acquisition-Related Costs
Note 7 - Other (Income)/Deductions-Net
Note 8 - Taxes on Income
Note 9 - Other Comprehensive Income/(Expense)
Note 10 - Financial Instruments
Note 11 - Inventories
Note 12 - Property, Plant and Equipment
Note 13 - Goodwill and Other Intangible Assets
Note 14 - Pension and Postretirement Benefit Plans and Defined Contribution Plans
Note 15 - Equity
Note 16 - Share-Based Payments
Note 17 - Earnings per Common Share
Note 18 - Earnings per Common Share
Note 19 - Insurance
Note 20 - Legal Proceedings and Contingencies
Note 21 - Segment, Geographic and Revenue Information
Quarterly Consolidated Financial Data (Unaudited) 2007
Quarterly Consolidated Financial Data (Unaudited) 2006
Financial Summary
Peer Group Performance Graph











