Anti-Aging Products to 2009

TABLE OF CONTENTS

INTRODUCTION

I. EXECUTIVE SUMMARY

II. MARKET ENVIRONMENT

General

Macroeconomic Outlook

Demographic & Life Expectancy Trends

Age-Related Health Condition Overview

Bone & Joint

Arthritis

Osteoporosis

Other

Hair Loss

Menopause

Vision

Cataracts

Macular Degeneration

Glaucoma

Other Vision

Chronic Erectile Dysfunction

Benign Prostatic Hyperplasia

Dementia

Alzheimers Disease

Other

Cosmetic Surgery Procedures Outlook

Cosmetic & Toiletry Industry Overview

Pharmaceutical Industry Overview

Nutraceutical Industry Overview

III. OVERVIEW

Demand Overview

Historical Market Trends

Regulatory Factors

Pricing Trends

International Activity

IV. FORMULATED HEALTH MAINTENANCE PRODUCTS

General

Bone & Joint Care

Pharmaceuticals

Anti-Arthritics

Osteoporosis Pharmaceuticals

Supplements

Glucosamine & Chondroitin Formulations

Formulated Calcium Blends

Other

Sexual Dysfunction/Impotence

Pharmaceuticals

Supplements

Menopause

Hormone Replacement Therapy

Supplements

Prostate Care

Pharmaceuticals

Supplements

Vision Care

Pharmaceuticals

Glaucoma

Macular Degeneration & Other

Supplements

Memory Improvement

Pharmaceuticals

Supplements

Other

V. FORMULATED APPEARANCE PRODUCTS

General

Aging Skin Care

Age-Defying Lotions & Creams

Injections

Botulinum Toxin-Based

Collagen

Other

Peels & Exfoliants

Other

Hair Loss

Finasteride-Based

Minoxidil-Based

Other

All Other

VI. ANTI-AGING PRODUCT CHEMICALS

General

Pharmaceutical Active Ingredients

Non-Hormonal Anti-Arthritic Agents

Ophthalmic Agents

Neurological Agents

Other

Vitamins & Antioxidants

Vitamin E

Coenzyme Q10

Vitamin A

Other

Chondroitin

Hormones

Estrogen

Progesterone & Other

Herbal Extracts

Ginkgo Biloba

Soy

Ginseng

Lycopene

Black Cohosh

Saw Palmetto

Other

Lutein

Red Clover

Chaste Tree

Dong Quai

All Other

Glucosamine

Minerals

Calcium

Other

Proteins

Collagen

Amino Acids & Peptides

Other

Botulinum Toxin

Other

Hydroxy Acids

Enzymes

All Other

VII. INDUSTRY STRUCTURE

General

Anti-Aging Chemical Market Share

Pfizer

Merck

Wyeth

BASF

Eli Lilly

Marketing & Distribution

Manufacturing

Competitive Strategies

Cooperative Agreements

Acquisitions & Divestitures

Research & Development

COMPANY PROFILES

Allergan Incorporated

Alza Corporation, see Johnson & Johnson

Andrew Jergens Company, see Kao Corporation

Archer-Daniels-Midland Company

Aventis Pharmaceuticals Incorporated, see Sanofi-Aventis

Avon Products Incorporated

Bardeen Sciences Company LLC, see Allergan

BASF AG

Bayer AG

Beiersdorf AG

Berlex Incorporated, see Schering AG

Boehringer Ingelheim GmbH

Cargill Incorporated

Cognis GmbH

CR-1 LP, see Cargill Incorporated and DSM NV

Croda International plc

DSM NV

Eastman Chemical Company

Estee Lauder Companies Incorporated

General Nutrition Centers Incorporated, see GNC

GlaxoSmithKline plc

GNC Corporation

Hauser Technical Services Incorporated, see Integrated

BioPharma

Herbalife Limited

Hoffman-La Roche Incorporated, see Roche Holding

IHT Health Products Incorporated, see Integrated

BioPharma

Inamed Corporation

InB: Hauser Pharmaceuticals Incorporated, see

Integrated BioPharma

Indena SpA

Integrated BioPharma Incorporated

Janssen Pharmaceutica Products LP, see Johnson &

Johnson

Johnson & Johnson

Kaneka Corporation

Kao Corporation

Kyowa Hakko Kogyo Company Limited

La Prairie Incorporated, see Beiersdorf AG

Laboratoires Serobiologiques, see Cognis GmbH

Lilly (Eli) and Company

LOreal SA

McNeil Nutritionals LLC, see Johnson & Johnson

Merck & Company Incorporated

Neutrogena Corporation, see Johnson & Johnson

Novartis International AG

NuCycle Therapy Incorporated, see Integrated BioPharma

Oculex Pharmaceuticals Incorporated, see Allergan

Ortho-McNeil Pharmaceutical Incorporated, see Johnson & Johnson

OrthoNeutrogena, see Johnson & Johnson

Personal Products Company, see Johnson & Johnson

Pfizer Incorporated

Procter & Gamble Company

RoC SA, see Johnson & Johnson

Roche Consumer Health, see Bayer AG

Roche Holding Limited

Royal Numico NV

Sanofi-Aventis

Schering AG

Sederma SA, see Croda International plc

SkinMedica Incorporated

Solgar Vitamins and Herb Company Incorporated, see

Wyeth

Todd (AM) Group of Companies

Triarco Industries Incorporated

Unilever Group

Vitamin Factory Incorporated, see Integrated BioPharma

Wyeth

Other Companies Mentioned in Study

LIST OF TABLES

SECTION I -- EXECUTIVE SUMMARY

Summary Table

SECTION II -- MARKET ENVIRONMENT

1 Macroeconomic Indicators

2 Demographic Trends

3 Selected Age-Related Medical Conditions by Type

4 Cosmetic & Toiletry Supply & Demand

5 Pharmaceutical Supply & Demand by Type

6 Nutraceutical Supply & Demand

SECTION III -- OVERVIEW

1 Formulated Anti-Aging Product Demand

2 Formulated Anti-Aging Product Market Trends, 1994-2004

3 Selected Anti-Aging Chemical Prices

SECTION IV -- FORMULATED HEALTH MAINTENANCE PRODUCTS

1 Formulated Health Maintenance Anti-Aging Product Demand

2 Bone & Joint Care: Anti-Aging Product Demand

3 Sexual Dysfunction/Impotence: Anti-Aging Product Demand

4 Menopause Product Demand

5 Prostate Care Product Demand

6 Vision Care: Anti-Aging Product Demand

7 Memory Improvement: Anti-Aging Product Demand

8 Other Anti-Aging Health Maintenance Product Demand

SECTION V -- FORMULATED APPEARANCE PRODUCTS

1 Formulated Appearance Product Demand

2 Aging Skin Care Product Demand

3 Age-Defying Lotions & Creams Demand

4 Wrinkle Removal Injection Demand

5 Peels & Exfoliants: Anti-Aging Product Demand

6 Other Anti-Aging Skin Product Demand

7 Hair Loss: Anti-Aging Product Demand

8 Other Anti-Aging Appearance Product Demand

�@

SECTION VI -- ANTI-AGING PRODUCT CHEMICALS

1 Anti-Aging Product Chemical Demand

2 Pharmaceutical Active Ingredients: Anti-Aging

Product Applications

3 Vitamins & Antioxidants: Anti-Aging Product Applications

4 Chondroitin: Anti-Aging Product Applications

5 Hormones: Anti-Aging Product Applications

6 Herbal Extracts: Anti-Aging Product Applications

7 Glucosamine: Anti-Aging Product Applications

8 Minerals: Anti-Aging Product Applications

9 Proteins: Anti-Aging Product Applications

10 Botulinum Toxin: Anti-Aging Product Applications

11 Other Anti-Aging Chemical Demand

SECTION VII -- INDUSTRY STRUCTURE

1 US Anti-Aging Chemical Sales by Company, 2004

2 Selected Cooperative Agreements

3 Selected Acquisitions & Divestitures

4 R & D Spending Patterns: Selected Anti-Aging Product & Chemical Suppliers

LIST OF CHARTS

SECTION III -- OVERVIEW

1 Formulated Anti-Aging Product Demand Per Capita 50+, 1994-2004

2 World Formulated Anti-Aging Product Demand, 2004

SECTION IV -- FORMULATED HEALTH MAINTENANCE PRODUCTS

1 Formulated Health Maintenance Anti-Aging Product Demand by Type, 2004

SECTION V -- FORMULATED APPEARANCE PRODUCTS

1 Formulated Appearance Product Demand by Type, 2004

SECTION VI -- ANTI-AGING PRODUCT CHEMICALS

1 Anti-Aging Product Chemical Demand by Type, 2004

SECTION VII -- INDUSTRY STRUCTURE

1 US Anti-Aging Chemical Market Share, 2004