(NASDAQ: AUXL)

January 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

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

effect

of

the

Company’s

expansion

of

its

field

force;

the

protection

for

Testim

afforded

by

U.S.

Patent

No.

7,320,968,

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

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

known

as

AA4500)

at

the

Company’s

Horsham

facility;

the

timing

of

the

completion

of

dosing

of

patients

in

phase

III

trials

for

XIAFLEX

for

the

treatment

of

Dupuytren’s

contracture;

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;

the

Company’s

development

and

operational

goals

for

fiscal

2007;

the

ability

to

fund

future

operations;

and

the

Company’s

expected

financial

performance

during

2007

and

financial

milestones

that

it

may

achieve

for

2007,

including

2007

net

revenues,

research

and

development

spending,

selling,

general

and

administrative

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,

2006

and

the

Company’s

Quarterly

Report

on

Form

10-Q

for

the

period

ended

September

30,

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

Company

Transforming

Product

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 290 employees (~190 commercial)

•

I.P.O in July 2004

–

Currently approximately 40.0 million shares issued & outstanding

–

Additional 7 million shares subject to issuance from stock options

& warrants

•

A component of the NASDAQ BIOTECH INDEX

5

(NASDAQ: AUXL)

Broad Pipeline Maturing in Coming Years

Broad Pipeline Maturing in Coming Years

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

5

6

Product

Testim®

gel

Approved in U.S.

Europe & Canada

XIAFLEX™

XIAFLEX™

XIAFLEX™

Transmucosal Film

AA4010

Transmucosal Film

Transmucosal Film

Market

Phase III

Phase II

Phase I

Pre-clinical

Late Research

Hypogonadism

Dupuytren’s Contracture

Peyronie’s Disease

Frozen Shoulder Syndrome

Overactive Bladder

Hormones and Urology

Pain

6

(NASDAQ: AUXL)

Anticipated News Flow Events

Anticipated News Flow Events

5

Jan 22:

•

Testim-Patent Issued

Q108/Q208:

•

XIAFLEX-Complete Peyronie's Animal Study

•

XIAFLEX-Initiate Peyronie's Phase IIb Studies

Q208:

•

XIAFLEX-Top- line Phase III (Double Blind) Data

H109:

•

XIAFLEX-Open Label Safety Data

Early 2009:

•

XIAFLEX-File BLA for Dupuytren's Contracture

6

6

Q409

Q309

Q209

Q109

Q408

Q308

Q208

Q108

Early 2010

•

XIAFLEX –

FDA Approval

In Dupuytren’s Contracture

Early

2010

XIAFLEX™

(clostridial

collagenase for injection)

A Company Transforming Opportunity

8

(NASDAQ: AUXL)

XIAFLEX –

XIAFLEX –

Company Transforming Opportunity

Company Transforming Opportunity

•

Potential to replace surgery in certain indications

•

Great fit for Specialty Biopharmaceutical Company

•

Worldwide rights offer options to build company or

generate cash

•

We believe there are approximately 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

•

BLA for Dupuytren’s Contracture expected to file

in early 2009

9

(NASDAQ: AUXL)

XIAFLEX for Dupuytren’s

XIAFLEX for Dupuytren’s

Contracture

Contracture

•

Collagen accumulation in hand causes affected

fingers to become permanently flexed

Disease description

•

Patented through 2014; Orphan Drug Exclusivity for

7 years post approval

I.P. position

•

Surgery is only approved treatment -

expensive and

characterized by numerous complications

Current treatment

•

Enrollment in CORD I and CORD II completed in

December 2007

•

Last injections in CORD I and double blind portion of

Cord II expected in March 2008 –

Top line results in

Q2 2008

Clinical status

•

Prevalence estimated at 3-6% of Caucasian

populations -

highest among people of northern

European descent

Target population

Source: Badalamente, M. et al. J. Hand Surgery, September 2002

10

(NASDAQ: AUXL)

Potential to Revolutionize Treatment for Dupuytren’s

Potential to Revolutionize Treatment for Dupuytren’s

Contracture

Contracture

Current Treatment

XIAFLEX Treatment

11

(NASDAQ: AUXL)

Journal of Hand Surgery, July/Aug 2007-

Journal of Hand Surgery, July/Aug 2007-

Methods

Methods

•

Randomized, double-blind, placebo controlled

•

35 Patients (28 men, 7 women)

•

Mean Age was 61 ±

8.5 years

•

XIAFLEX Injections:

–

10,000 units dosing

–

Maximum 3 injections per joint at 4-6 week intervals

–

2:1 randomization vs. placebo

•

Primary Endpoint:

–

Contracture within 0 to 5°

of normal

–

Measured 30 days after last injection

12

(NASDAQ: AUXL)

Pivotal Phase III Study –

Pivotal Phase III Study –

Results

Results

XIAFLEX

Placebo

P-value

Primary End Point

21/23 (91%)*

0/12

< .001

-

MP Joint

12/14 (86%)

0/7

< .001

-

PIP Joint

9/9 (100%)

0/5

< .001

Secondary Joint

5/6 (83%)

0/3

.035

Median Time to

Success

8 Days

N/A

Mean # Injections

For Success

1.4

N/A

*  Success rates were 70% after a single injection

13

(NASDAQ: AUXL)

Pivotal Phase III Study –

Pivotal Phase III Study –

Other Findings

Other Findings

•

Adverse Events:

–

No Serious Adverse Events reported

–

Adverse events were mild to moderate, mostly local

reactions. Resolved within a mean of 3 weeks

–

No reports of loss of sensation or infections, and no skin

grafts required

•

In total, 54 / 62 (87%) joints achieved clinical success 

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

14

(NASDAQ: AUXL)

Dupuytren’s Clinical Plan ~ 725 total patients

Dupuytren’s Clinical Plan ~ 725 total patients

•

CORD I Study:

–

216 patients in at least 15 sites in the U.S.

–

Double blind placebo controlled, randomized in 2:1 ratio of active to

placebo

–

Primary endpoint is reduction in contracture to within 0 -

5º

of normal

–

Secondary endpoints to measure clinical improvement and time to

success

–

Top Line data expected to be

available Q2 2008

•

CORD II Study:

–

60 patients, following protocol similar to U.S. trial

–

Top Line data expected to be available Q2 2008

–

Five Australian sites

•

Enrolled >300 patients in CORD I / II by December 2007

•

Open-label studies to generate additional safety data (n ~ 450 -

>300 patients enrolled by December 2007)

15

(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; 49% 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.)

Dupuytren’s Commercial Opportunity

Dupuytren’s Commercial Opportunity

16

(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

17

(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

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

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

Annually

Annually

Source: 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

18

(NASDAQ: AUXL)

XIAFLEX for Peyronie’s Disease

XIAFLEX for Peyronie’s Disease

•

Patented through 2019

•

Orphan Drug exclusivity for 7 years post approval

I.P.  position

•

Treated by urologists

•

Lacks good treatment options

–

PABA, Vitamin E, Verapamil ineffective

–

Surgery may shorten penis; cause scarring

•

Unmet need for non-surgical treatment

Current treatment

•

Promising efficacy data from open label phase II studies. 

Statistically significant improvement vs. baseline was

achieved in:

–Correction of penile deviation (=

25% reduction in angle)

–In sexual functioning

Clinical status

•

Affects men predominantly over 50

Target population

•

Plaque or hard scar area on the penis

•

Deformity of the penis during erection precludes

intercourse

Disease description

Source: Mulhall, J. et al, June 2004

19

(NASDAQ: AUXL)

Peyronie’s Clinical Plan

Peyronie’s Clinical Plan

•

Local effects / tolerability pre-clinical study outside of plaque

requested by FDA.  In life stage of animal study completed 4Q

2007.  Expect to send final report to FDA in 1H 2008.

•

Phase IIb dose ranging study expected to begin in Q2 2008, 

pending FDA review of animal study results

•

Patient Reported Outcome Survey likely to be primary endpoint. 

We plan to validate of the Survey during a phase IIb study.

•

File as a Supplemental BLA for Peyronie’s indication.  Will not be

filed before Dupuytren’s BLA approved.

20

(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

AA4500 (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

21

(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

~210,000

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

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

Annually

Annually

Source: Auxilium research

~135,000 in U.S.

~ 75,000 in Europe

22

(NASDAQ: AUXL)

XIAFLEX for Frozen Shoulder Syndrome

XIAFLEX for Frozen Shoulder Syndrome

•

Arthroscopic procedure or surgery

Current treatment

•

Early studies showed trend to efficacy and

tolerability at highest dose (10,000 units)

•

Additional phase II studies needed to assess

optimal dose, primary endpoints and dosing

regimen

Clinical status

•

Estimated 3% of people develop frozen shoulder

syndrome over their lifetime

–

Higher incidence among patients with diabetes (10-

20%) vs general population (2-5%)

–

Higher incidence among patients with insulin-

dependent diabetes (36%), with increased frequency

of bilateral shoulder involvement

–

Market research indicates ~700,000 patients visit

doctors in the U.S. every year

•

Most common in patients between 45 –

70 yrs

Target population

•

Diminished shoulder motion, characterized by

restriction in active and passive range of motion

Disease description

Source: Pearsall, A. Adhesive capsulitis. eMedicine. 2005 http://www.emedicine.com/pmr/topics372.htm

Testim

®

1% Testosterone Gel:

Near-Term Growth Driver

Executing on Opportunities

24

(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

•

Comparative studies support advantages 

•

Non-substitutable with Androgel

•

Broad prescription coverage

•

Growing prescriber loyalty

25

(NASDAQ: AUXL)

Male Hypogonadism (Testosterone Deficiency) Overview

Male Hypogonadism (Testosterone Deficiency) Overview

•

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

hypogonadal

–

We estimate that less than 10% of affected population receives treatment

•

Diagnosis increasing through education and awareness

Signs/symptoms –

Brain Function

Libido and erections

Energy and vigor

Cognitive function

Sleep quality

Irritability and depressed mood

Signs/symptoms –

Body Composition

Muscle mass and strength

Bone mineral density

Male hair density and skin thickness

Fat mass –

abdominal obesity

Source: Mulligan T. et al. Int J. Clin Pract

2006

26

(NASDAQ: AUXL)

Clinical Results Show Testim

Clinical Results Show Testim

®

®

Changes Body Composition

Improves Sexual Activity

•

Sexual Activity

59%

•

Statistically significant

increases in sexual desire

•

Lean Body Mass         

4.8 lbs

•

Fat Mass

4.0 lbs

•

Bone Mineral Density  

2.6 %

12-month study

Placebo-controlled study, 90-day results

Source: Auxilium studies published in Journal of Clinical Metabolism & Review of Urology

27

(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)

28

(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 ($)

Sep 2007 L12M: 

+25%

2007 YTD (Sep):

+26%

Gel Segment Growth ($)

Gel Segment Growth ($)

Sep 2007 L12M: 

Sep 2007 L12M: 

+25%

2007 YTD (Sep):

2007 YTD (Sep):

+26%

29

(NASDAQ: AUXL)

Testim

®

®

quarterly net revenues and scripts

($ in millions)

Established Track Record of Consistent Growth

Established Track Record of Consistent Growth

Q3 2007 Net

Revenues

Y/Y Growth:

+49%

Q3 2007 Net

Q3 2007 Net

Revenues

Revenues

Y/Y Growth:

Y/Y Growth:

+49%

Q3 2007 TRX

Y/Y Growth:

+33%

Q3 2007 TRX

Q3 2007 TRX

Y/Y Growth:

Y/Y Growth:

+33%

Source: Auxilium and IMS data

$-

$5

$10

$15

$20

$25

$30

0

20

40

60

80

100

120

Net Revs

TRX

30

(NASDAQ: AUXL)

Testim

Testim

®

®

Driving Growth in Market

Driving Growth in Market

Source: IMS data

Testim

®

Share of TRx of Gel Market

Strong market share with high-prescribing urologists;

39.4% gel market share of decile

8-10 Urologists in November 2007

1.0%

21.5%

0%

5%

10%

15%

20%

25%

Mar-03

Dec-07

31

(NASDAQ: AUXL)

•

U.S. Testim

®

patent (covering Hsieh Enhancers)

expires in June 2008

•

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

for Testim issued January 22, 2008; expires 2025

•

Divisional application and continuations filed with

USPTO 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

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

Testim Patent Coverage

Financials / Strategic Priorities

33

(NASDAQ: AUXL)

YTD

2007

Q3 ’07

Sept ’07

Guidance

Revenues

$26.2

$68.0

$92-96

R&D Expense

$9.8

$28.3

$40-44

SG&A Expense

$18.2

$53.9

$74-77

Net Loss

$6.9

$28.8

$39-43

Stock –

Based

Comp Expense

$1.6

$4.3

$7-9

Cash & short term investments

$82.5

2007 Financial Results and Revised Guidance

2007 Financial Results and Revised Guidance

($ Millions)

($ Millions)

34

(NASDAQ: AUXL)

Strategic Priorities

Strategic Priorities

•

Continue Development of XIAFLEX with a plan to:

–

Complete dosing in CORD I and double blind portion of CORD II in

Q1 2008, allowing for top line results to be announced in Q2 2008 &

be prepared to file BLA in early 2009

–

Continue market research activities; prepare commercial team

–

Continue development of XIAFLEX in Peyronie’s Disease and

Frozen Shoulder Syndrome indications

•

Continue Driving Testim Growth

•

Implement infrastructure and processes to allow for rapid

growth

35

(NASDAQ: AUXL)

Fastest Growing

TRT product in

the U.S.

Late Stage

Company

Transforming

Product

Poised for Growth

+

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