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BIOGEN COMPLETES ACQUISITION OF BETA INTERFERON PATENT RIGHTS, AND CONCLUDES LILLY AGREEMENT FOR GENE EXPRESSION PATENTS

 SAN FRANCISCO, Jan. 11 /PRNewswire/ -- Biogen, Inc. (NASDAQ: BGEN) today announced it has completed the aquisition of patent rights for its recombinant beta interferon and entered into an agreement with Eli Lilly and Company regarding Lilly's use of Biogen's patents for gene expression. Specific terms of the agreements were not discussed.
 Speaking today at the annual Hambrecht & Quist Life Sciences conference. Jim Vincent, Biogen's chairman, indicated that earnings in 1993 would be slightly in excess of 90 cents per share, reflecting the payments associated with obtaining the beta interferon patent rights. Vincent remarked, "As a result of recent agreements, Biogen has all the patents necessary to make, use and sell beta interferon worldwide."
 "Furthermore, " Vincent continued, "the Lilly deal provides significant economic value to Biogen. The company expects that this agreement will generate around $15 million in 1994, the majority of which will be recognized in the first quarter."
 Under the agreement, Lilly obtains access to Biogen's patents for widely used expression vectors and methods for manufacturing recombinantly derived products. Lilly utilizes Biogen's technology for products that are on the market or currently in development. Lilly will pay Biogen for the value of the technology from the issuance of the patent as well as future royalties.
 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 five 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 other cancers and viruses.
 -0- 1/11/94
 /CONTACT: Kathryn R. Bloom, director of communications, 617-252-9851 (media), or Amy S. Hedison, director of investor relations, 617-252-9873 (investment), both of Biogen/
 (BGEN)


CO: Biogen, Inc.; Eli Lilly and Company ST: Massachusetts; California IN: MTC SU: TNM ERP

JL-CM -- NE008 -- 1148 01/11/94 17:02 EST
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Publication:PR Newswire
Date:Jan 11, 1994
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