TABLE OF CONTENTS COMPANY OVERVIEW AND KEY FACTS CORPORATE VENTURING --Corporate Venturing – Overview --Corporate Venturing – Deal reports PARTNERSHIP --Partnership – Overview --Partnership – Deal reports DIVESTMENTS --Divestments – Overview --Divestments – Deal reports APPENDIX --About Datamonitor Financial Deals Database --Deal Definition and Methodology --About Datamonitor --Datamonitor Professional Services Knowledge Center LIST OF TABLES --Merck Serono S.A. activity by deal type – volume (2014-TTM2015) --Merck Serono S.A. activity by deal type – volume (2011 -YTD2015) --Merck Serono S.A. legal advisor ranking by value ($m) --Top Deals(2011 -YTD2015) --Merck Serono S.A. targets and partners (2011 -YTD2015) --Merck Serono S.A. corporate venturing volume and value trend (2011-YTD2015) --Merck Serono S.A. corporate venturing by geography (2011-YTD2015) --Merck Serono S.A. partnership volume and value trend (2011-YTD2015) --Merck Serono S.A. partnership trend by key deal type (2011-YTD2015) --Merck Serono S.A. divestments volume and value trend (2011-YTD2015) --Merck Serono S.A. divestments activity by geography (2011-YTD2015) LIST OF FIGURES --Merck Serono S.A. activity by deal type - volume (trailing twelve months (TTM)) --Merck Serono S.A. activity by deal type - volume (2011-YTD2015) --Merck Serono S.A. corporate venturing volume and value trend (2011-YTD2015) --Merck Serono S.A. corporate venturing by geography (2011-YTD2015) --Merck Serono S.A. partnership volume and value trend (2011-YTD2015) --Merck Serono S.A. partnership trend by key deal type (2011-YTD2015) --Merck Serono S.A. divestments volume and value trend (2011-YTD2015) --Merck Serono S.A. divestments by geography (2011-YTD2015)

Merck Serono S.A.