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              (914)
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              rkrawiec@progenics.com
              
              Dory
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              dlombardo@progenics.com
              
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WYETH
AND PROGENICS ANNOUNCE POSITIVE OUTCOME OF PHASE 3 CLINICAL STUDY OF
SUBCUTANEOUS RELISTOR FOR OPIOID-INDUCED CONSTIPATION IN PATIENTS WITH CHRONIC
NON-CANCER PAIN





--
Primary and key secondary efficacy endpoints achieved --








Collegeville, Pa., and Tarrytown,
N.Y., November 26, 2008– Wyeth Pharmaceuticals, a division of Wyeth
(NYSE: WYE), and Progenics Pharmaceuticals, Inc. (Nasdaq: PGNX) announced today
that a phase 3 clinical study investigating RELISTOR®(methylnaltrexone bromide) subcutaneous injection to treat opioid-induced
constipation (OIC) in patients with chronic, non-cancer pain achieved
statistical significance for the primary and key secondaryefficacy
endpoints. Adverse events observed in this study were similar to those seen in
prior studies of subcutaneous RELISTOR.





The
positive outcome reported today was from the double-blind, randomized
placebo-controlled portion of a phase 3 clinical study.





“Many
patients who take prescription opioids to help relieve their non-cancer pain
experience opioid-induced constipation, which can disrupt their lives,” says
Gary L. Stiles, M.D., Executive Vice President, Chief Medical Officer, Wyeth
Pharmaceuticals. “The results of this study suggest that RELISTOR has the
potential to help decrease the constipating effects of opioids for this patient
population.”











Wyeth and
Progenics plan to meet with global regulatory agencies, including the U.S. Food
and Drug Administration, to review these data and intend to present results from
both the double-blind and open-label phases of the study at an upcoming
scientific meeting.





“This
phase 3 clinical study of RELISTOR subcutaneous injection showed statistically
significant improvements in the occurrence of bowel movements in patients with
opioid-induced constipation who have chronic, non-cancer pain,” says Paul J.
Maddon, M.D., Ph.D., Chief Executive Officer, Chief Science Officer and Founder
of Progenics Pharmaceuticals, Inc.





Study
Background





In the double-blind phase of this
study, in which RELISTOR or placebo were administered subcutaneously for four
weeks, the endpoints included the proportion of RELISTOR injections resulting in
bowel movements within four hours and the evaluation of the number of bowel
movements per week. This study was conducted at 80 centers in North America, and
enrolled 469 patients with an established history of OIC and chronic pain, such
as back pain, fibromyalgia, neuropathic pain, and osteoarthritis, among other
types of non-cancer pain. The study consisted of an initial four-week,
double-blind phase followed by an eight-week, open-label phase. The open-label
portion of the study has recently been completed and an analysis is
pending.





About
Chronic Pain and OIC





Approximately 10 million patients a
year in the U.S. are prescribed opioids for 30 days or more to manage their
pain. Opioids are considered to be effective analgesics for the management of
moderate-to-severe chronic pain, and one of the most common side effects of
opioids is persistent constipation.





About
RELISTOR





RELISTOR
is a peripherally acting mu-opioid receptor antagonist that decreases the
constipating effects of opioid pain medications in the gastrointestinal tract
without diminishing their ability to relieve pain.  The use of RELISTOR
beyond four months has not been studied. RELISTOR subcutaneous injection is
approved in the United States, Europe, Canada and Australia for the treatment of
OIC in patients with advanced illness receiving palliative care, when response
to laxative therapy has not been sufficient.





Important
Safety Information for RELISTOR





§
            RELISTOR
      is contraindicated in patients with known or suspected mechanical
      gastrointestinal obstruction.


§
            If
      severe or persistent diarrhea occurs during treatment, advise patients to
      discontinue therapy with RELISTOR and consult their
    physician.


§
            Use
      of RELISTOR has not been studied in patients with peritoneal
      catheters.


§
            The
      most common adverse reactions reported with RELISTOR compared with placebo
      in clinical trials were abdominal pain (28.5% vs. 9.8%), flatulence (13.3%
      vs. 5.7%), nausea (11.5% vs. 4.9%), dizziness (7.3% vs. 2.4%), and
      diarrhea (5.5% vs. 2.4%).











RELISTOR
full Prescribing Information for the U.S. is available at www.relistor.com.





About
the Companies





Wyeth Pharmaceuticals, a
division of Wyeth, has leading products in the areas of women’s health care,
infectious disease, gastrointestinal health, central nervous system,
inflammation, transplantation, hemophilia, oncology, vaccines and nutritional
products. Wyeth is one of the world’s largest research-driven pharmaceutical and
health care products companies.  It is a leader in the discovery,
development, manufacturing and marketing of pharmaceuticals, vaccines,
biotechnology products, nutritionals and non-prescription medicines that improve
the quality of life for people worldwide.  The Company’s major
divisions include Wyeth Pharmaceuticals, Wyeth Consumer Healthcare and Fort
Dodge Animal Health.





WYETH DISCLOSURE NOTICE: The statements in this press release
that are not historical facts are forward-looking statements that are subject to
risks and uncertainties that could cause actual results to differ materially
from those expressed or implied by such statements. In particular, there can be
no assurance that RELISTOR will be commercially successful or that RELISTOR will
be approved in the future in other formulations or indications and/or in other
countries.Other risks and uncertainties that
could cause actual results to differ materially from those expressed or implied
by forward-looking statements include, without limitation, the inherent
uncertainty of the timing and success of, and expense associated with, research,
development, regulatory approval and commercialization of our products and
pipeline products; government cost-containment initiatives; restrictions on
third-party payments for our products; substantial competition in our industry,
including from branded and generic products; emerging data  on our
products and pipeline products; the importance of strong performance from our
principal products and our anticipated new product introductions; the highly
regulated nature of our business; product liability, intellectual property and
other litigation risks and environmental liabilities; uncertainty regarding our
intellectual property rights and those of others; difficulties associated with,
and regulatory compliance with respect to, manufacturing of our products; risks
associated with our strategic relationships; economic conditions including
interest and currency exchange rate fluctuations; changes in generally accepted
accounting principles; trade buying patterns; the impact of legislation and
regulatory compliance; risks and uncertainties associated with global operations
and sales; and other risks and uncertainties, including those detailed from time
to time in our periodic reports filed with the Securities and Exchange
Commission, including our current reports on Form 8-K, quarterly reports on Form
10-Q and annual report on Form 10-K, particularly the discussion under the
caption “Item 1A, RISK FACTORS” in our Annual Report on Form 10-K for the year
ended December 31, 2007, which was filed with the Securities and Exchange
Commission on February 29, 2008.  The forward-looking statements in
this press release are qualified by these risk factors. We assume no obligation
to publicly update any forward-looking statements, whether as a result of new
information, future developments or otherwise.











Progenics Pharmaceuticals,
Inc., of Tarrytown, NY, is a biopharmaceutical company focusing on the
development and commercialization of innovative therapeutic products to treat
the unmet medical needs of patients with debilitating conditions and
life-threatening diseases. Principal programs are directed toward
gastroenterology, virology--including human immunodeficiency virus (HIV) and
hepatitis C virus (HCV) infections--and oncology. Progenics, in collaboration
with Wyeth, is developing RELISTOR(R) (methylnaltrexone bromide) for the
treatment of opioid-induced side effects. Wyeth has worldwide rights to develop
and commercialize all forms of RELISTOR, except in Japan where Progenics has
granted Ono Pharmaceutical Co., Ltd. an exclusive license to the subcutaneous
form of RELISTOR for development and commercialization in that country. In the
U.S., RELISTOR (methylnaltrexone bromide) subcutaneous injection is indicated
for the treatment of opioid-induced constipation (OIC) in patients with advanced
illness who are receiving palliative care, when response to laxative therapy has
not been sufficient. In Canada, RELISTOR (methylnaltrexone bromide injection)
for subcutaneous use is indicated for the treatment of OIC in patients with
advanced illness receiving palliative care. In European member states and
Iceland, Norway and Liechtenstein, RELISTOR (methylnaltrexone bromide)
subcutaneous injection is indicated for the treatment of OIC in patients with
advanced illness who are receiving palliative care, when response to the usual
laxative therapy has not been sufficient. Marketing applications are pending for
RELISTOR in other countries. In the area of virology, Progenics is developing
the HIV entry inhibitor PRO 140, a humanized monoclonal antibody targeting the
entry co-receptor CCR5, which is in phase 2 clinical testing. A novel HCV entry
inhibitor, PRO 206, has been selected for clinical development and is currently
undergoing IND-enabling studies. In the area of oncology, the Company is
conducting a phase 1 clinical trial of a human monoclonal antibody-drug
conjugate (ADC) for the treatment of prostate cancer--a selectively targeted
cytotoxin-linked antibody directed against prostate-specific membrane antigen
(PSMA). PSMA is a protein found on the surface of prostate cancer cells as well
as in blood vessels supplying other solid tumors. Progenics is also conducting a
phase 1 clinical trial of a vaccine designed to treat prostate cancer by
stimulating an immune response to PSMA.





PROGENICS DISCLOSURE NOTICE:
This document contains
statements that do not relate strictly to historical fact, any of which may be
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. When we use the words "anticipates," "plans,"
"expects" and similar expressions, we are identifying forward-looking
statements. Forward-looking statements involve known and unknown risks and
uncertainties which may cause our actual results, performance or achievements to
be materially different from those expressed or implied by forward-looking
statements. While it is impossible to identify or predict all such matters, this
may result from, among other things, the inherent uncertainty of the timing and
success of, and expense associated with, research, development, regulatory
approval and commercialization of our products and product candidates, including
the risks that clinical trials will not commence or proceed as planned; products
appearing promising in early trials will not demonstrate efficacy or safety in
larger-scale trials; clinical trial data on our products and product candidates
will be unfavorable; our products will not receive marketing approval from
regulators or, if approved, do not gain sufficient market acceptance to justify
development and commercialization costs; we, our collaborators or others might
identify side effects after the product is on the market; or efficacy or safety
concerns regarding marketed products, whether or not originating from subsequent
testing or other activities by us, governmental regulators, other entities or
organizations or otherwise, and whether or not scientifically justified, may
lead to product recalls, withdrawals of marketing approval, reformulation of the
product, additional pre-clinical testing or clinical trials, changes in labeling
of the product, the need for additional marketing applications, declining sales
or other adverse events.











We
are also subject to risks and uncertainties associated with the actions of our
corporate, academic and other collaborators and government regulatory agencies;
potential product liability; intellectual property, litigation, environmental
and other risks; the risk that licenses to intellectual property may be
terminated for our failure to satisfy performance milestones; the risk of
difficulties in, and regulatory compliance relating to, manufacturing products;
and the uncertainty of our future profitability.





Risks
and uncertainties also include general economic conditions, including interest
and currency exchange rate fluctuations and the availability of capital; changes
in generally accepted accounting principles; the impact of legislation and
regulatory compliance; the highly regulated nature of our business, including
government cost-containment initiatives and restrictions on third-party payments
for our products; trade buying patterns; the competitive climate of our
industry; and other factors set forth in our Annual Report on Form 10-K and
other reports filed with the U.S. Securities and Exchange Commission. In
particular, we cannot assure you that our lead product, RELISTOR®, will be
commercially successful or be approved in the future in other formulations,
indications or jurisdictions, or that any of our other programs will result in a
commercial product.





We
do not have a policy of updating or revising forward-looking statements and
assume no obligation to update any statements as a result of new information or
future events or developments. Thus, it should not be assumed that our silence
over time means that actual events are bearing out as expressed or implied in
forward-looking statements.





(PGNX-C)





Editor’s
Note:





Additional
information on Progenics is available at www.progenics.com.


Additional
information on Wyeth is available at www.wyeth.com.


Additional
information regarding RELISTOR is available at www.relistor.com.