Topic Report: Industry Overview FOR MEDIMMUNE INC(MEDI) provided BY BEAR STEARNS COMPANIES, INC. (THE)

Bear Stearns Companies, Inc. (The) issued Topic Report March 29, 2004: ABBOTT LABS, AFFYMETRIX INC, WYETH, AMGEN INC, BRISTOL MYRS SQ, CAMBREX CORP, CHIRON CORP, PERKINELMER INC, FISHER SCI NEW, GENENTECH INC, GENZYME-GENERAL, GILEAD SCIENCES, GLAXOSMITHKLINE, BIOGEN IDEC INC, INVITROGEN, LILLY ELI & CO, MOLECULAR DEVCE, MEDIMMUNE INC, MILLIPORE CORP, MERCK & CO INC, PFIZER INC, APPLD BIOS-APPL, QIAGEN NV, AVENTIS -ADR, NOVARTIS AG-ADR, SIGMA ALDRICH, SCHERING PLOUGH, TECHNE CORP, THERMO ELECTRON, WATERS CORP, ASTRAZENECA PLC, BRUKER BIOSCI, SERONO SA ADR