Healthcare >> Sector Roundtables >> March 8, 2004

ROUNDTABLE FORUM: PHARMACEUTICALS

DR. GIRISH TYAGI is a Principal in the Research Department at Thomas Weisel Partners LLC, where he covers the Major Pharmaceuticals sector. Previously, he was the Senior Healthcare Analyst at ABN Amro. Prior to entering the securities business, Dr. Tyagi practiced medicine for 15 years. Dr. Tyagi received a Pre-Medical degree from Delhi University, a Medical degree from the M.A. Medical College of New Delhi, India, and a Master of Business Administration degree from Northeastern University in Boston, Massachusetts. Dr. Tyagi is board certified in Internal Medicine (United Kingdom) and Radiology (United States and United Kingdom). He is a Member of the Royal College of Physicians of the United Kingdom and a Fellow of the Royal College of Radiologists. Profile
DAVID MOSKOWITZ is Managing Director of the healthcare research group at Friedman, Billings, Ramsey Group, Inc. He joined FBR in July 2001 and currently covers the large cap pharmaceutical sector in addition to select specialty pharmaceutical companies. From 1999 to 2001, Mr. Moskowitz worked for UBS Warburg as a specialty pharmaceuticals analyst, and from 1998 to 1999, he was a biotechnology analyst for Standard & Poor's. Prior to entering the financial services industry, Mr. Moskowitz practiced as a Registered Pharmacist in various hospital and retail settings for nearly 10 years. Mr. Moskowitz received his BS degree in Pharmacy from Rutgers University and his MBA degree in Finance and Pharmaceutical Industry Studies from Fairleigh Dickinson University. Profile
TWST: Erik, I was looking at a chart of the pharmaceutical index for

last year and the second half was certainly not very good. What went on?

Mr. Verhoef: I think in the second half of the