(b) Pro Forma Financial Information

As previously discussed in Item 2.01 of a Current Report on Form 8-K filed on January 2, 2009, Nektar Therapeutics, a Delaware corporation ("Nektar"), and Aerogen, Inc., a Delaware corporation and a subsidiary of Nektar, completed the sale of certain assets and obligations related to Nektar's pulmonary business, associated technology and intellectual property to Novartis Pharmaceuticals Corporation and Novartis Pharma AG for a purchase price of $115.0 million in cash on December 31, 2008.

The pro forma financial information required to be filed under Item 9.01(b) is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The Unaudited Pro Forma Condensed Consolidated Statements of Operations for the nine months ended September 30, 2008 and the twelve months ended December 31, 2007 and the Unaudited Pro Forma Condensed Consolidated Balance Sheet as of September 30, 2008 are presented for illustrative purposes only and are not necessarily indicative of the operating results or the financial position that would have been achieved had the disposition been consummated as of the dates indicated or of the results that may be obtained in the future.

(d) Exhibits

Exhibit Number   Description
99.1             Pro forma financial information.