(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

issuance

of

a

patent

from

the

pending

U.S.

application

for

Testim;

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

candidatesincluding

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.

Poised for Growth

+

=

Late Stage

Company

Transforming

Product

Fastest Growing

TRT product in

the U.S.

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

6

Product

Late Research

Testim®

gel

Approved in U.S.

Europe & Canada

XIAFLEX™

XIAFLEX™

XIAFLEX™

Transmucosal Film

AA4010

Transmucosal Film

Transmucosal Film

Market

Phase

III

Phase

II

Pre-clinical

Late Research

Hypogonadism

Peyronie’s Disease

Frozen Shoulder Syndrome

Overactive Bladder

Hormones and Urology

Pain

Dupuytren’s Contracture

Phase

I

6

(NASDAQ: AUXL)

Anticipated News Flow Events

Anticipated News Flow Events

Q108:

•

Testim-Patent Issuance

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

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

Journal

of

of

Hand

Hand

Surgery,

Surgery,

July/Aug

July/Aug

2007-

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 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)

$-

$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

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

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;

38.3% gel market share of decile

8-10 Urologists in October 2007

1.0%

21.3%

0%

5%

10%

15%

20%

25%

Mar-03

Nov-07

31

(NASDAQ: AUXL)

•

Current Testim

®

patent in U.S. expires in June 2008

•

New patent issued in Canada; expires 2023

•

New patent issued in Europe; expires 2023

•

Notice of Issuance for U.S. application # 10/473,724

mailed on January 2, 2008; expect patent to issue

within a month

•

Divisional application and continuations filed with

USPTO in late 2007 to protect additional inventions

and seek additional claims

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

+

=