**Contacts:**

|   | **Wyeth:** Media                  Contacts:Sal                  FotiWyeth                  Pharmaceuticals(484)                  865-3490 Gwen                  FisherWyeth                  Pharmaceuticals(484)                  865-5160 Investor                  Contact:Justin                  VictoriaWyeth(973)                  660-5340   | **Progenics                  Pharmaceuticals, Inc.:** Investor                  Contacts:Richard                  W. Krawiec, Ph.D.Corporate                  Affairs(914)                  789-2814rkrawiec@progenics.com Dory                  LombardoCorporate                  Affairs(914)                  789-2818dlombardo@progenics.com Media                  Contact:Aline                  SchimmelWeissComm                  Partners(212)                  301-7218  |
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**WYETH        AND PROGENICS SUBMIT MARKETING APPLICATION IN AUSTRALIA FOR SUBCUTANEOUS        METHYLNALTREXONE**

**Collegeville,        Pa. **
**and Tarrytown, N.Y.**
**,**
**August 29, 2007 **

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**About        Methylnaltrexone**

**About        the Companies**

**Wyeth        Pharmaceuticals**

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**WYETH        DISCLOSURE NOTICE: **
*The statements in this press release that are        not historical facts are forward-looking statements based on current        expectations of future events and are subject to risks and uncertainties        that        could cause actual results to differ materially from those expressed or implied        by such statements. These risks and uncertainties include the inherent        uncertainty of the timing and success of, and expense associated with, research,        development, regulatory approval and commercialization of our products,        including with respect to our 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;        data        generated on our 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.” 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.,**
*in        vivo*

***      PROGENICS        DISCLOSURE        NOTICE:** The information contained in this document is current as of        August 29, 2007. This press release contains forward-looking statements.        Any        statements contained herein that are not statements of historical fact may        be        forward-looking statements. When the Company uses the words “anticipates,”“plans,” “expects” and similar expressions, it is identifying forward-looking        statements. Such forward-looking statements involve risks and uncertainties        which may cause the Company’s actual results, performance or achievements to be        materially different from those expressed or implied by forward-looking        statements. Such factors include, among others, the uncertainties associated        with product development, the risk that clinical trials will not commence        or        proceed as planned, the risks and uncertainties associated with dependence        upon        the actions of our corporate, academic and other collaborators and of government        regulatory agencies, the risk that our licenses to intellectual property        may be        terminated because of our failure to have satisfied performance milestones,        the        risk that products that appear promising in early clinical trials do not        demonstrate efficacy in larger-scale clinical trials, the risk that we may        not        be able to manufacture commercial quantities of our products, the uncertainty        of        future profitability and other factors set forth more fully in the Company’s        Annual Report on Form 10-K for the fiscal year ended December 31, 2006, and        other reports filed with the Securities and Exchange Commission to which        investors are referred for further information. In particular, the Company        cannot assure you that any of its programs will result in a commercial product.        Progenics does not have a policy of updating or revising forward-looking        statements and assumes no obligation to update any forward-looking statements        contained in this document as a result of new information or future events        or        developments. Thus, it should not be assumed that the Company’s silence over        time means that actual events are bearing out as expressed or implied in        such        forward-looking statements.*

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