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BIOGEN ANTICIPATES SIGNIFICANT INCREASE IN 1992 REVENUES AND EARNINGS

BIOGEN ANTICIPATES SIGNIFICANT INCREASE IN 1992 REVENUES AND EARNINGS
 CAMBRIDGE, Mass., Sept. 9 /PRNewswire/ -- Biogen (NASDAQ: BGEN) announced today that it anticipates a significant increase in revenues for the third quarter ending Sept. 30, 1992, vs. the second quarter of 1992. The increase reflects exceptionally strong product sales by licensees from which the company derives the majority of its revenues. Sales of Biogen's products by it major licensees are expected to exceed $1 billion in 1992 as compared to approximately $700 million in 1991.
 The company stated that it is encouraged by the strong sales of its products: alpha interferon licensed to Schering-Plough, and hepatitis B vaccines licensed to SmithKline Beecham and Merck. Biogen said that the most dramatic increase has been in the sales of hepatitis B vaccines, which has occurred primarily in the United States and is due largely to the recent vaccination program for OSHA workers and the growth in childhood vaccinations. Furthermore, Biogen reported that revenues from sales of Interferon(R) A brand of alpha interferon have been increasing dramatically, primarily due to the recent approval in Japan for the treatment of hepatitis C.
 The accelerated growth in licensee sales, which began in the second quarter, appears to be continuing in the third quarter. The company believes that this is the result of both one-time events and a new, higher level of underlying vaccine sales. A significant portion of the increase in Biogen's expected revenues in the third quarter will be attributable to licensee sales that occurred in the second quarter. Biogen's chairman, Jim Vincent, stated, "Based on our current expectations for licensee sales, the company could earn in excess of 40 cents per share in 1992, barring any unforseen circumstances."
 The company also announced that, as a result of a reassessment of its European strategy and other recent developments, it has decided to write-down its investment in Bioferon, a 50-percent-owned joint venture with Dr. Rentschler Arzneimittel GmbH & Co. Accordingly, the company expects to record a charge of approximately $5 million in the third quarter.
 Jim Vincent, Biogen's chairman, commented, "The real message behind this growth in revenues is less about the magnitude of the short term increase in earnings and more about the added financial strength this provides us in the coming years prior to introducing our own marketed drugs. This strong revenue growth allows us to continue to be aggressive in our new drug development programs without exposing our shareholders to the degree of financial risk that is characteristic of our industry."
 Biogen, Inc., headquartered in Cambridge, Mass., is a biopharmaceutical company principally engaged in developing and manufacturing drugs for human healthcare through genetic engineering. The company's revenues are generated from the worldwide sales by licensees of six products, including alpha interferon and hepatitis B vaccines and diagnostic products. Biogen is focused primarily on developing and testing products for the treatment of cardiovascular disease, inflammatory diseases, AIDS and certain cancers.
 -0- 9/9/92
 /CONTACT: Amy D. Seltzer, director of investor relations, 617-252-9873/
 (BGEN) CO: Biogen, Inc. ST: Massachusetts IN: MTC SU:


CH -- NE011 -- 7549 09/09/92 13:28 EDT
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Publication:PR Newswire
Date:Sep 9, 1992
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