To every step of healthy living and a longer patient’s journey, WebMD is helping consumers understand symptoms prepare for the doctor’s visit and learn about diagnosis, evaluation of treatment options and living with conditions. Medscape is the go-to brand for physicians and healthcare providers. Medscape demonstrates and Medscape generates substantially more physician engagement than any other health professional site. Doctors are searching for information on our latest treatments, best practices and latest news.

They are checking daily news in their specialty, reading journals, conference coverage and interacting with their peers and key opinion leaders in order to have a conversation about their field of medicine. They are checking dosing interactions and other important information as they are writing prescriptions patient encounters. Whether it's at the point of care in their office for during their daily commute or at home, Medscape is integral to a physician’s daily practice of medicine and their continuing education.

WebMD and Medscape are the go-to brands because we have an outstanding publishing engine and a world class technology organization. WebMD is the industry’s first and only optimized multiscreen experience empowering and enabling healthcare decisions anytime and anywhere.

So why are our revenues declining and what are we going to do about it? This is the key question in the short term in order to build the long term. There are two key factors impacting our revenue trend, first externally, we are operating in a challenging and changing marketplace, second, internally we must look closely at our go-to market strategy and our commercial offerings in our key customer segments and markets.

Let’s first look externally at the industry, WebMD’s primary source of revenue has been large biopharmaceutical companies followed by large consumer product companies. So what is happening in their business is affecting ours, our customers are under pressure, under pressure to grow and under pressure for cost containment. Biopharmas growth is largely reliant by new product launches to replace the estimated 72 billion in product sales that will lose exclusivity by 2015. In fact, in 2012, Biopharma will see 31 billion from branded to generics through the patent expiration.

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