Epstein Secrets

t be reprinted, sold or redistributed without the written consent of Morgan Stanley. 13 EFTA00598634 Morgan Stanley MORGAN STANLEY RESEARCH The Americas 1585 Broadway New York. NY 10036-8293 United States Tel: +1 (1) 212 761 4000 Europe 20 Bank Street. Canary Wharf London E14 4AD United Kingdo

Portola Pharmaceuticals Inc, Regeneron Pharmaceuticals Inc., Relypsa, Inc.. Synageva Biopharma Corp, Theravance Inc, Ultragenyx Pharmaceutical Inc, Versartis, Inc., Vertex Pharmaceuticals. XenoPort Inc. Within the last 12 months. Morgan Stanley has received compensation for products and services other than inve

t be reprinted, sold or redistributed without the written consent of Morgan Stanley. 12 EFTA00598618 Morgan Stanley MORGAN STANLEY RESEARCH The Americas 1585 Broadway New York. NY 10036-8293 United States Tel: +1 (1) 212 761 4000 Europe 20 Bank Street. Canary Wharf London E14 4AD United Kingdo

Portola Pharmaceuticals Inc. Regeneron Pharmaceuticals Inc.. Relypsa, Inc., Synageva Biopharma Corp, Theravance Inc. Ultragenyx Pharmaceutical Inc, Versartis, Inc., Vertex Pharmaceuticals. XenoPort Inc. Within the last 12 months. Morgan Stanley has either provided or is providing non-investment banking. securi

s Shareholders under the CFC rules, and (ii) will be subject to the Section 1248 recharacterization rule described above. In addition, if the Fund is a United States Shareholder of a CFC and a U.S. Partner disposes of its Limited Partner Interest, that Partner generally will recognize income under Section 751 of t

2012 4.6 0.0 5.6 5.7 - 1.25 22.6% Treato Pharma Convergence 2013 3.0 - 3.0 3.0 - 1.00 0.0% Truveris, Inc. Convergence 2012 6.5 - 6.5 6.5 - 1.00 0.0% Versartis, Inc. Therapeutics 2011 21.2 - 93.6 93.6 - 4.41 129.4% Public Investments Therapeutics 2011 20.6 13.1 29.5 42.6 - 2.07 42.5% Total Unrealized Investments $