Acquisition is a Further Step in Pfizer Strategy to Accelerate Business
                     Development and Licensing Activity

    NEW YORK, Feb. 1 /PRNewswire-FirstCall/ -- Pfizer Inc today announced
that it has entered into an agreement to acquire BioRexis Pharmaceutical
Corporation, a privately-held biopharmaceutical company with a number of
diabetes candidates and a novel technology platform for developing new
protein drug candidates. Financial terms of the agreement were not
disclosed.
    "Through this acquisition, we are investing in a company with an
exciting new technology and potential new product candidates in diabetes,"
said Edmund P. Harrigan, M.D., senior vice president, Worldwide Licensing
and New Business Development for Pfizer. "This is an example of how we are
pursuing compelling science outside our walls in order to deliver new
healthcare solutions to customers and patients."
    "The acquisition is a further step in Pfizer's strategy to accelerate
our business development and licensing activity while ensuring appropriate
operational and financial discipline," said David Shedlarz, vice chairman
of Pfizer. "Our strategy is focused on complementing Pfizer's current
portfolio of medicines and acquiring technologies that can be applied to
strengthen and add value to our portfolio."
    BioRexis is developing long-acting GLP-1 receptor agonists for the
potential treatment of patients with type 2 diabetes. Early studies with
these compounds support their potential to advance new treatment options
for this disease.
    BioRexis has developed proprietary protein engineering technologies
based upon human transferrin that provide novel therapeutic agents with
substantially longer duration of action than synthetic peptides. In
addition to reducing dosing frequency, these technologies have the
potential to substantially improve patient tolerability as compared to
other evolving protein therapeutic technologies. This new platform supports
Pfizer's commitment to develop novel protein therapeutic agents where
improved patient tolerability will lead to substantial health benefits
including greater patient compliance.
    The acquisition is subject to customary closing conditions (including
approval under the Hart-Scott-Rodino Antitrust Improvements Act of 1976),
and is expected to close during the first or second quarter of this year.
    More information on both companies and the transferrin technology can
be found at http://www.pfizer.com and http://www.biorexis.com
    DISCLOSURE NOTICE: The information contained in this release is as of
February 1, 2007. The Company assumes no obligation to update any forward-
looking statements contained in this release as a result of new information
or future events or developments.
    This release contains forward-looking information about an agreement by
Pfizer to acquire BioRexis and about BioRexis's diabetes product candidates
and the potential benefits of such product candidates. Such information
involves substantial risks and uncertainties including, among other things,
the satisfaction of conditions to closing the agreement; the uncertainties
inherent in research and development activities; decisions by regulatory
authorities regarding whether and when to approve any drug applications for
such product candidates as well as their decisions regarding labeling and
other matters that could affect the availability or commercial potential of
such product candidates; and competitive developments.
    A further list and description of risks and uncertainties can be found
in Pfizer's Annual Report of Form 10-K for the fiscal year ended December
31, 2005 and in its reports on Form 10-Q and Form 8-K.

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