Al Rauch

AL RAUCH, Vice President at A.G. Edwards & Sons, Inc., and Chartered
Financial Analyst, has been covering the healthcare industry for over 10
years. Prior to joining A.G. Edwards, he was Managing Director and Head
of Health Care Equity Research at Ladenburg Thalmann. Previously he was
at Wachovia (formerly First Union) and was part of its acquisition of
EVEREN Securities. Prior to this he was at A.G. Edwards in St. Louis for
one and one-half years. Mr. Rauch comes from the pharmaceutical industry
and was in drug discovery at Pfizer for six years. He was a faculty
member at Wake Forest Medical School for three years and did a two-year
postdoctoral fellowship in the Department of Physiology and Pharmacology
at Wake Forest. He has a PhD in Pathology from Emory University in
Atlanta and an MBA from RPI in New York.