(NASDAQ: AUXL)

June 2008

Exhibit 99.1

2

(NASDAQ: AUXL)

Safe Harbor Statement

Safe Harbor Statement

We

will

make

various

remarks

during

this

presentation

that

constitute

“forward-looking

statements”

for

purposes

of

the

safe

harbor

provisions

under

The

Private

Securities

Litigation

Reform

Act

of

1995,

including

statements

regarding

the

pricing,

time

to

market,

size

of

market,

growth

potential

and

therapeutic

benefits

of

the

Company’s

product

candidates,

including

those

for

the

treatment

of

Dupuytren’s

contracture,

Peyronie’s

disease,

and

Frozen

Shoulder

syndrome;

interpretation

of

market

research

data;

competition

within

certain

markets

relevant

to

the

Company’s

product

candidates;

interpretation

of

clinical

results,

including

the

efficacy

and

tolerability

of

the

Company’s

product

candidates;

the

timing

of

the

commencement

and

completion

of

clinical

trials

and

the

timing

of

reporting

of

results

therefrom;

the

timing

of

manufacturing

scale

up

for

the

Company’s

product

candidates;

the

Company’s

ability

to

manufacture

XIAFLEX™

(clostridial

collagenase

for

injection

–

formerly

referred

to

as

AA4500)

at

the

Company’s

Horsham

facility;

the

timing

of

the

completion

of 

phase

III

trials

for

XIAFLEX

for

the

treatment

of

Dupuytren’s

contracture

and

the

reporting

of

results

therefrom;

the

timing

of

the

filing

of

the

Biologics

License

Application

for

approval

of

XIAFLEX

for

the

treatment

of

Dupuytren’s

contracture

and

the

approval

thereof;

the

timing

of

the

phase

IIb

trials

for

XIAFLEX

for

the

treatment

of

Peyronie’s

disease;

competitive

developments

affecting

the

Company’s

products

and

product

candidates,

including

generic

competition;

the

success

of

the

Company’s

development

activities;

future

Testim

market

share,

prescriptions

and

sales

growth

and

factors

that

may

drive

such

growth;

size

and

growth

potential

of

the

testosterone

replacement

therapy

market

and

the

gel

segment

thereof

and

factors

that

may

drive

such

growth;

the

protection

for

Testim

afforded

by

U.S.

Patent

No.

7,320,968,

and

its

listing

in

the

Orange

Book,

the

value

of

extending

patent

protection

for

Testim

through

January

2025,

the

value

and

likelihood

that

patents

will

be

granted

from

the

continuation

and

divisional

applications

filed

by

Bentley

Pharmaceuticals,

Inc.;

the

absence

of

an

ANDA

for

the

generic

to

Testim;

the

Company’s

development

and

operational

goals

and

strategic

priorities

for

fiscal

2008;

the

ability

to

fund

future

operations;

and

the

Company’s

expected

financial

performance

during

2008

and

financial

milestones

that

it

may

achieve

for

2008,

including

2008

net

revenues,

research

and

development

spending,

selling,

general

and

administrative

expenses,

stock-based

compensation

expenses,

and

net

loss.

All

remarks

other

than

statements

of

historical

facts

made

during

this

presentation,

including

but

not

limited

to,

statements

regarding

future

expectations,

plans

and

prospects

for

the

Company,

statements

regarding

forward-looking

financial

information

and

other

statements

containing

the

words

“believe,”

“may,”

“could,”

“will,”

“estimate,”

“continue,”

“anticipate,”

“intend,”

“should,”

“plan,”

“expect,”

and

similar

expressions,

as

they

relate

to

the

Company,

constitute

forward-

looking

statements.

Actual

results

may

differ

materially

from

those

reflected

in

these

forward-looking

statements

due

to

various

factors,

including

general

financial,

economic,

regulatory

and

political

conditions

affecting

the

biotechnology

and

pharmaceutical

industries

and

those

discussed

in

the

Company’s

Annual

Report

on

Form

10-K

for

the

year

ended

December

31,

2007

under

the

heading

“Risk

Factors”,

which

is

on

file

with

the

Securities

and

Exchange

Commission

(the

“SEC”)

and

may

be

accessed

electronically

by

means

of

the

SEC’s

home

page

on

the

Internet

at

http://www.sec.gov

or

by

means

of

the

Company’s

home

page

on

the

Internet

at

http://www.auxilium.com

under

the

heading

“Investor

Relations

-

SEC

Filings.”

There

may

be

additional

risks

that

the

Company

does

not

presently

know

or

that

the

Company

currently

believes

are

immaterial

which

could

also

cause

actual

results

to

differ

from

those

contained

in

the

forward-looking

statements.

Given

these

risks

and

uncertainties,

any

or

all

of

these

forward-looking

statements

may

prove

to

be

incorrect.

Therefore,

you

should

not

rely

on

any

such

factors

or

forward-looking

statements.

In

addition,

forward-looking

statements

provide

the

Company’s

expectations,

plans

or

forecasts

of

future

events

and

views

as

of

the

date

of

this

presentation.

The

Company

anticipates

that

subsequent

events

and

developments

will

cause

the

Company’s

assessments

to

change.

However,

while

the

Company

may

elect

to

update

these

forward-looking

statements

at

some

point

in

the

future,

the

Company

specifically

disclaims

any

obligation

to

do

so.

These

forward-looking

statements

should

not

be

relied

upon

as

representing

the

Company’s

assessments

as

of

any

date

subsequent

to

the

date

of

this

presentation.

Fastest Growing

TRT product in

the U.S.

Late Stage

Blockbuster

Product

Opportunity

Poised for Growth

+

=

4

(NASDAQ: AUXL)

Auxilium Pharmaceuticals, Inc.  (NASDAQ: AUXL)

Auxilium Pharmaceuticals, Inc.  (NASDAQ: AUXL)

•

Specialty biopharmaceutical company focused on Urologists,

Endocrinologists, Orthopedists and certain PCPs

•

Founded in 1999

•

Headquarters in Malvern, Pa.

–

Manufacturing in Horsham, Pa.

–

Approximately 320 employees (~190 commercial)

•

I.P.O in July 2004

–

Currently approximately 41.2 million shares issued & outstanding

–

Additional 6.6 million shares subject to issuance from stock

options & warrants

•

A component of the NASDAQ BIOTECH INDEX

5

(NASDAQ: AUXL)

Broad Maturing Pipeline

Broad Maturing Pipeline

Note:  Worldwide rights for all products available, except Testim where ex -U.S. rights have been licensed.

XIAFLEX™

(clostridial collagenase for injection) was formally referred to as AA4500

Product

Testim®

gel

Approved in U.S.

Europe & Canada

XIAFLEX™

XIAFLEX™

XIAFLEX™

Transmucosal Film

AA4010

Transmucosal Film

Transmucosal Film

Hypogonadism

Dupuytren’s Contracture

Peyronie’s Disease

Frozen Shoulder Syndrome

Overactive Bladder

Hormones and Urology

Pain

Phase III

Market

Phase II

Phase I

Pre-clinical

Late Research

6

(NASDAQ: AUXL)

Anticipated News Flow Events

Anticipated News Flow Events

Q308:

•

XIAFLEX-Initiate

Peyronie's

Phase

IIb

Study

H109:

•

XIAFLEX-Open

Label

Safety

Data

Early 2009:

•

XIAFLEX-File

BLA

for

Dupuytren's

Contracture

Early 2010

•XIAFLEX –

FDA

Approval In

Dupuytren’s

Contracture

Q409

Q309

Q209

Q109

Q408

Q308

2010

XIAFLEX™

(clostridial collagenase for injection)

Unique, Late-Stage Opportunity with Blockbuster

Potential

8

(NASDAQ: AUXL)

XIAFLEX-

XIAFLEX-

Unique, Late-Stage, Blockbuster

Unique, Late-Stage, Blockbuster

Opportunity

Opportunity

•

Potential to be first effective non-surgical treatment for two

high unmet needs

–

Late-Stage Phase III data for the treatment of Dupuytren’s

contracture -expect to file U.S. BLA in early 2009

–

We believe promising Phase II data in Peyronie’s disease

•

Well-characterized mode of action

•

Worldwide rights offer options to build company or

generate cash –

exploring EU partnering opportunities

now

•

We believe there are at least 450,000 potential patients

annually in U.S. and EU for Dupuytren’s & Peyronie’s

indications -

> $1 Billion opportunity, based on market

research and analysis

9

(NASDAQ: AUXL)

Dupuytren’s Contracture—a Debilitating Condition

Dupuytren’s Contracture—a Debilitating Condition

•

Excessive collagen deposition

•

Nodules represent early, active

form

•

Cords develop over time, are

palpable, and result in

contractures

•

Debilitating effect on quality of life

•

Surgery may be reserved for

advanced disease due to

unpredictable results,

complications, long recovery and

recurrence/additional surgeries

10

(NASDAQ: AUXL)

Current Treatment Options Are Invasive or

Current Treatment Options Are Invasive or

Ineffective

Ineffective

•

Surgery

•

Non-surgical options

–

Splinting

–

Physical therapy

–

Corticosteroids

•

Needle

fasciotomy/

aponeurotomy

•

Amputation

11

(NASDAQ: AUXL)

Dupuytren’s Contracture—Unmet Medical Need

Dupuytren’s Contracture—Unmet Medical Need

•

Disease

prevalence

is

estimated

at

3%-6%

among

adult

Caucasians,

1

but

occurs

in

all

populations

•

Higher

prevalence

in

patients

of

northern-European

descent

1

•

Hereditary

component

in

approximately

40%

of

patients

2

•

On

average,

patients

have

2.2

affected

joints

at

the

time

of

diagnosis,

and

about

half

of

patients

have

bilateral

disease

3

•

Recurrence rate in surgical patients

4

–

30% in 2 years

–

55% in 10 years

•

We believe Dupuytren’s contracture is under-diagnosed and

under-treated

1

Tubiana

2006.

2 

Hueston 1963

3

Skoog 1948

4

Mikkelsen 1976

12

(NASDAQ: AUXL)

XIAFLEX—Potential to Revolutionize Treatment

XIAFLEX—Potential to Revolutionize Treatment

for Dupuytren’s Contracture

for Dupuytren’s Contracture

13

(NASDAQ: AUXL)

XIAFLEX—Potential to Revolutionize

XIAFLEX—Potential to Revolutionize

Treatment for Dupuytren’s Contracture

Treatment for Dupuytren’s Contracture

14

(NASDAQ: AUXL)

91%

86%

100%

85%

0%

0%

0%

0%

20%

40%

60%

80%

100%

Pivotal Phase III Study (DUPY-303): Results*

Pivotal Phase III Study (DUPY-303): Results*

•

54/62 (87%) joints achieved 0°-5°

contracture in the study

and its open-label extension

•

Recurrence rates

–

3 of 54 joints followed for 12 months

–

5 of 27 joints followed for 24 months

•

Mean number of injections for success was 1.4

•

Injections well tolerated with only local AEs

*The Journal of Hand Surgery.

2007;32(6).

* After up to three injections. Success rate was 70% after a single injection.

21/23

12/14

9/9

33/39

Primary joint

P<.001

MP joint

P<.001

PIP joint

P<.001

Non-Primary joints

0/12

0/7

0/5

XIAFLEX

Placebo

15

(NASDAQ: AUXL)

Most Patients Achieved Full Extension,

Most Patients Achieved Full Extension,

Regardless of Joint Affected or Severity

Regardless of Joint Affected or Severity

92%

78%

86%

61%

47%

53%

79%

60%

70%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

MP

PIP

Combined

10,000 units, approximately 0.58 mg.

Joint Type

Response rate by joint type and baseline joint severity

Studies 202-303-404 combined

Low severity

High severity

Total

16

(NASDAQ: AUXL)

CORD I Design

CORD I Design

•

Largest ever double-blind, placebo-controlled

trial in Dupuytren’s Contracture

–

randomized in 2:1 ratio of active to placebo

–

enrolled a 2:1 ratio of MP:PIP

–

enrolled 1:1 ratio of less severe to more severe joints

•

Primary

endpoint

is

reduction

in

contracture

to

within

0

-

5

o

of

normal

•

Secondary endpoints to measure clinical

improvement and time to success

–

50%

improvement

in

contracture

–

change in primary joint degree of contracture

•

3 month and 12 month safety profile

17

(NASDAQ: AUXL)

Primary Endpoint Outcome Compares Favorably

Primary Endpoint Outcome Compares Favorably

To Surgery

To Surgery

18

(NASDAQ: AUXL)

4 Out Of 5 Dupuytren’s Contracture Patients

4 Out Of 5 Dupuytren’s Contracture Patients

Improved By

Improved By

50%

50%

19

(NASDAQ: AUXL)

Contracture Reduction By Degrees Indicates Average

Contracture Reduction By Degrees Indicates Average

XIAFLEX Patient Achieves ~10°

XIAFLEX Patient Achieves ~10°

Of Contracture

Of Contracture

20

(NASDAQ: AUXL)

XIAFLEX Phase III AE and SAE Rates Should

XIAFLEX Phase III AE and SAE Rates Should

Compare Favorably To Surgical Complications

Compare Favorably To Surgical Complications

Serious Adverse Events

Number

Rate/Inj.

Tendon / Ligament:

Confirmed Tendon Rupture

3

0.14%

Unconfirmed Tendon Rupture

1

0.05%

Ligament Injury

1  

0.05%

Total Tendon / Ligament

5

0.24%

Deep Vein Thrombosis

1

0.05%

Complex Regional Pain Syndrome

1  

0.05%

Total

7  

0.33%

Note:  > 2,000 injections in approximately 850 patients from CORD,

JOINT and PK studies.

•

Common adverse events and rates were consistent with prior

XIAFLEX trials

21

(NASDAQ: AUXL)

CORD I Key Takeaways

CORD I Key Takeaways

•

Primary endpoint of

5°

reached in 64% of patients

(p<0.001)

–

25 of 26 endpoints met with statistical significance

of <0.001, 1 of 26 was met with a p-value = 0.002

–

Of the 73 patients who didn’t respond, 44 received

less than 3 injections and 25 had no palpable cord

•

Primary joint contractures improved

50% in 4 out of 5

patients

•

82.2% of patients receiving XIAFLEX completed the

study with contractures

25°

•

Less severe contractures responded better than more

severe contractures

•

MP joints responded better than PIP joints

•

Safety profile compares favorably to surgery

–

No systemic exposure and no allergic reactions

22

(NASDAQ: AUXL)

We believe:

•

There is a pent-up demand for non-surgical therapy

•

Surgeons and patients prefer non-invasive treatment

•

Each patient on average has 2.2 joints which will require

treatment; about half have contractures in both hands

•

Early data indicates on average 1.4 vials of XIAFLEX required

per joint

2.2 joints per patient x 1.4 vials per joint = 3.1 vials per patient on

average

•

We believe XIAFLEX treatment can be priced competitively to

cost

of

surgery

(~$5,000

in

the

U.S.

–

equates

to

$1,600

per

vial)

Dupuytren’s Commercial Opportunity

Dupuytren’s Commercial Opportunity

23

(NASDAQ: AUXL)

Market Research Performed –

Market Research Performed –

Dupuytren’s

Dupuytren’s

•

Multiple prevalence data sets proved to be highly variable in

numbers of patients

•

Two rounds of quantitative primary research have been

commissioned by Auxilium on XIAFLEX for Dupuytren’s

contracture

•

A combined 571 Orthopedic Surgeons have been interviewed to

estimate market size (401 in U.S.; 170 in Europe) and 391 have

given feedback on potential usage of XIAFLEX (221 U.S.; 170

Europe)

•

Second study (n=444 total & 340 in depth) was designed to

provide 95% confidence level and 7.5% margin of error

24

(NASDAQ: AUXL)

Patients

Seeking

Treatment

~1,030,000

No Prior

Surgery

~540,000

Had Surgery

Previously

~490,000

Watchful

Waiting

~270,000

Medical/

Surgical

Treatment

~270,000

Medical/

Surgical

Treatment

~125,000

Watchful Wait/

In Follow Up

~365,000

XIAFLEX

Potential

Candidates

~240,000 or 60%

of the

Medical/Surgical

Candidates

At least 240,000 Dupuytren’s Candidates In U.S. & Europe

At least 240,000 Dupuytren’s Candidates In U.S. & Europe

Annually

Annually

Source: 2006 Auxilium research and analysis

~150,000 in U.S.

~ 90,000 in Europe

Prevalence      

3 –

6% of

Population

~13,500,000 to

27,000,000

25

(NASDAQ: AUXL)

Expected Pathway to BLA Filing in Early 2009

Expected Pathway to BLA Filing in Early 2009

•

Complete 12 month open-label safety follow up from

>100 CORD I patients originally randomized to

XIAFLEX

•

Complete open-label CORD II and JOINT I/II trials to

attain 1,000 patient exposure data

•

Finalize BLA filing (CMC, etc.)

26

(NASDAQ: AUXL)

XIAFLEX I.P. Position  for Dupuytren’s

XIAFLEX I.P. Position  for Dupuytren’s

Contracture

Contracture

•U.S. Orphan Drug Exclusivity granted on May 23, 1996

for 7 years post approval

•Market Exclusivity expected in EU for 10 years post-

approval

–Data protection granted for 8 years

•Method of Use Patent in U.S. through 2014

•Use Patent in France, UK, Sweden through 2018

–Pending in Germany and Denmark

•Highly Purified Collagenase API  and manufacturing

patent filed (if issued, expected expiry 2027)

27

(NASDAQ: AUXL)

1. Smith BH. Am J Clin Pathol. 1966;45:670-678.

2. Somers KD, Dawson DM. J Urol. 1997;157:311-315.

Peyronie’s Disease—a Devastating Disorder

Peyronie’s Disease—a Devastating Disorder

•

Scarring phenomenon affecting the

tunica albuginea

1

•

Plaques show excessive collagen

deposition

2

•

Potential Symptoms

–

Pain with erection, penile

curvature/deviation, penile

shortening, indentations, and/or

erectile dysfunction

–

May experience difficulty with sexual

intercourse, loss of self-esteem, and

depression

•

There are no approved therapies

for the treatment of Peyronie’s

disease

28

(NASDAQ: AUXL)

Epidemiology—Peyronie’s Disease

Epidemiology—Peyronie’s Disease

•

Prevalence of Peyronie’s disease is estimated at 1 in 20

adult men

1

–

Actual prevalence higher based on autopsies

2

•

Prevalence rate increases with age

–

The average age of disease onset is 53 years

3

•

High association with other diseases such as:

–

Diabetes, erectile dysfunction (ED), Dupuytren’s

contracture, plantar fascial contracture,

tympanosclerosis,

gout,

and

Paget’s

disease

4

•

We believe Peyronie’s disease is under-diagnosed and

under-treated

1. Schwarzer

U, The prevalence of Peyronie’s disease: Results of a large survey.

BJU Int

2001;88:727–30;

Mulhall

et al: J Urology

2004:171: 2350 –

2353;Rhoden

et al: Int J. Impot

Res

2001 :13 : 291 –

293; La Pera

et al : EUR Urology

2001: 40

:525 –

530.

2. Smith BH. Am J Clin Pathol. 1966;45:670-678.

3. Lindsay MB, J Urol.

1991;146:1007–1009.

4. Nyberg L, J Urol.128: 48, 1982

29

(NASDAQ: AUXL)

Current Treatment—Surgical

Current Treatment—Surgical

•

The goal of surgery is simply to make the two sides of the

penis equal in size

•

Graft or prosthetic may be required

•

Cost of surgery in U.S. is ~$10-12K

30

(NASDAQ: AUXL)

Peyronie’s Disease—Unapproved Treatments

Peyronie’s Disease—Unapproved Treatments

Have Been Used With Little Reported Success

Have Been Used With Little Reported Success

•

Verapamil

•

Vitamin E

•

Colchicine

•

Potassium aminobenzoate (Potaba)

•

Tamoxifen

•

Interferon alpha-2a

•

Corticosteroids

•

Energy transfer treatment including

extracorporeal shock wave therapy (ESWT),

laser and ultrasound therapy, and

orthovoltage radiation

31

(NASDAQ: AUXL)

Promising Phase II Results: Patients With

Promising Phase II Results: Patients With

25%

25%

Reduction in the Angle of Deviation

Reduction in the Angle of Deviation

Study 1030

58%

53%

35%

0%

20%

40%

60%

80%

100%

Month 3

Month 6

Month 9

Study 1035

50%

100%

100%

89%

0%

20%

40%

60%

80%

100%

Week 6

Month 3

Month 6

Month 9

32

(NASDAQ: AUXL)

Market Research Performed –

Market Research Performed –

Peyronie’s

Peyronie’s

•

Two rounds of quantitative primary research have

been commissioned by Auxilium on XIAFLEX for

Peyronie’s disease

•

A combined 575 Urologists have been interviewed to

estimate market size (415 in U.S.; 160 in Europe) and

383 have given feedback on potential usage of

XIAFLEX (223 U.S.; 160 Europe)

•

Second study (n=472 total & 333 in depth) was

designed to provide 95% confidence level and 7.5%

margin of error

33

(NASDAQ: AUXL)

Patients

Seeking

Treatment

~475,000

Surgery Not

Recommended

~365,000

Watchful

Waiting

~160,000

Medical or

Intralesional

Therapy

~205,000

Surgery

Recommended

~110,000

XIAFLEX

Potential

Candidates or

67% of

Medical/

Surgical

candidates

~210,000

At least 210,000 Peyronie’s Candidates In U.S. and Europe

At least 210,000 Peyronie’s Candidates In U.S. and Europe

Annually

Annually

Source: 2006 Auxilium research and analysis

~135,000 in U.S.

~ 75,000 in Europe

Prevalence      

1 in 20 Adult

Males

34

(NASDAQ: AUXL)

Peyronie’s Clinical Plan

Peyronie’s Clinical Plan

•

Phase IIb dose ranging study expected to begin in

Q3 2008

•

A proprietary Patient Reported Outcome (PRO)

questionnaire has been developed

–

To be validated in Phase IIb and likely to be used as a

primary efficacy endpoint in Phase III clinical trials

•

File as a Supplemental BLA for Peyronie’s

indication

–

Will not be filed before Dupuytren’s BLA approved.

35

(NASDAQ: AUXL)

XIAFLEX I.P.  Position for Peyronie’s

XIAFLEX I.P.  Position for Peyronie’s

Disease

Disease

•U.S. Orphan Drug Exclusivity granted on March 12, 1996

for 7 years post approval

•Market Exclusivity in EU could be extended to 11 years on

approval of additional indication

–Biosimilars

would need to generate extensive regulatory, safety,

and efficacy data

•Method of Use Patent in U.S. through 2019

•Use Patent Granted in France, UK, and Ireland (expiry 2020)

–Pending in Germany, Denmark, and Norway

•Highly Purified Collagenase API and manufacturing patent

filed (if issued, expected expiry 2027)

Testim

®

1% Testosterone Gel:

Near-Term Growth Driver

Executing on Opportunities

37

(NASDAQ: AUXL)

Testim®

Testim®

is the Fastest Growing Testosterone

is the Fastest Growing Testosterone

Replacement Therapy Gel

Replacement Therapy Gel

•

Proprietary, topical

1% testosterone gel

–

Once-a-day application

–

Favorable clinical and commercial profile

•

Recent study indicates 39% of U.S. males over 45 yrs

are hypogonadal*

–

We estimate that less than 10% of affected population

receives treatment

•

We believe diagnosis is increasing through education

and awareness

*Mulligan T. et al. Int J. Clin Pract

2006

38

(NASDAQ: AUXL)

Patient Benefits are Clinically Proven

Patient Benefits are Clinically Proven

Note:

Adjusted geometric means (CV

b

%) of a single-dose (50 mg testosterone), randomized,

complete crossover study of 29 hypogonadal men.

Total Testosterone

2,000

3,000

4,000

5,000

6,000

Mean AUC

0-24

(ng*h/dL)

Testim

AndroGel

Free Testosterone

0

50

100

150

200

250

Mean AUC

0-24

(ng*h/dL)

Testim

AndroGel

•

16 clinical studies involving approx. 1,800 patients

–

largest placebo-controlled study ever conducted

•

Clinical trial of Testim

®

vs. AndroGel

®

–

Testim provides 30% higher testosterone absorption (p<0.001)

39

(NASDAQ: AUXL)

Gels Fastest Growing TRT Segment

Gels Fastest Growing TRT Segment

Source: IMS data

($ in millions)

Gel

Patch

Oral

Injectables

$35

$117

$200

$287

$340

$383

$449

0

100

200

300

400

500

600

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

$459

$399

$302

$210

$77

$59

$49

$499

$118

$568

Gel Segment Growth ($)

Apr 2008 L12M: 

23.6+%

Gel Segment Growth ($)

Gel Segment Growth ($)

Apr 2008 L12M: 

Apr 2008 L12M: 

23.6+%

2007

700

$685

$563

40

(NASDAQ: AUXL)

$-

$5

$10

$15

$20

$25

$30

0

20

40

60

80

100

120

Net Revs

TRX

Testim

®

®

quarterly net revenues and scripts

($ in millions)

Established Track Record of Consistent Growth

Established Track Record of Consistent Growth

Q1 2008 Net

Revenues

Y/Y Growth:

+47.2%

Q1 2008 Net

Q1 2008 Net

Revenues

Revenues

Y/Y Growth:

Y/Y Growth:

+47.2%

Q1 2008 TRX

YY Growth:

+31.2%

Q1 2008 TRX

Q1 2008 TRX

YY Growth:

YY Growth:

+31.2%

Source: Auxilium and IMS data

41

(NASDAQ: AUXL)

We Believe Testim Is Driving Growth in

Overall Gel Market

Source: IMS data

Testim Share of TRx of Gel Market

21.9%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

Mar-03

May-08

Strong market share with high-prescribing urologists & PCP’s;

41.3% gel market share of decile 8-10 Urologists and 28.8% share with

decile 8 –

10 PCP’s in April 2008

42

(NASDAQ: AUXL)

•

U.S. Patent # 7,320,968 covering method of use claims for Testim

issued January 22, 2008; expires 2025

•

We believe no Paragraph III ANDA was filed prior to issuance of the

’968 patent, since five months have passed since listing in the

Orange Book

•

Divisional application and continuations filed with U.S. PTO in late

2007 with a plan to protect additional inventions and seek additional

claims

•

New patent issued in Canada; expires 2023

•

New patent issued in Europe; expires 2023

•

Patents granted and applications pending in numerous countries

worldwide

Testim Patent Coverage

Note: The referenced Testim patents are owned by CPEX Pharmaceuticals, Inc

Financials / Strategic Priorities

44

(NASDAQ: AUXL)

2008

Q1 ’07

Q1 ’08

Guidance

Revenues

$18.4

$27.1

$120-125

R&D Expense

$8.7

$13.2

$52-56

SG&A Expense

$17.2

$21.0

$88-92

Net Loss

($11.9)

($12.3)        ($44-48)

Stock –

Based

Comp Expense

$1.2

$2.1

$9-11

Cash & cash equivalents

$56.9

1Q08 Financial Results and 2008 Guidance

1Q08 Financial Results and 2008 Guidance

($ Millions)

($ Millions)

45

(NASDAQ: AUXL)

Strategic Priorities

Strategic Priorities

•

Continue Development of XIAFLEX with a plan to:

–

File Dupuytren’s BLA in early 2009

–

Initiate Phase IIb in Peyronie’s Disease in Q3 2008

–

Continue market research activities; prepare commercial

team

–

Continue development of XIAFLEX in Peyronie’s Disease

and Frozen Shoulder Syndrome indications

•

Continue Driving Testim Growth

46

(NASDAQ: AUXL)

Fastest Growing

TRT product in

the U.S.

Late Stage

Blockbuster

Product

Opportunity

Poised for Growth

+

=