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BIOGEN REPORTS FIRST QUARTER EARNINGS OF 32 CENTS PER SHARE

 CAMBRIDGE, Mass., April 20 /PRNewswire/ -- Biogen, Inc. (NASDAQ: BGEN) today reported net income of $11,260,000 or 32 cents per share for the three months ended March 31, 1993. Revenues for the quarter were $35,421,000. For the first quarter last year, the company reported net income of $814,000, or 2 cents per share, based on revenues of $19,122,000.
 Biogen's higher earnings were based on significant increases in royalty revenues, which grew more than 100 percent over the first quarter of 1992, largely due to increases in sales by licensees of Intron(R)A alpha interferon and hepatitis B vaccines. During the quarter, research and development activities continued on the company's lead proprietary drug ilable to all Americans, we are concerned about the inappropriate attacks on the pharmaceutical industry. This has the potential to weaken the vitality of one of America's premiere industries. The possible impact on the merging biopharmaceutical industry cannot be overstated -- the threat of pharmaceutical price controls is having a chilling effect. If controls were to be implemented, it will lead to a restructuring of the industry in the next two years, because capital markets will not be available to 85 percent of these emerging companies.
 "Fortunately, Biogen is well positioned to withstand many of the pressures currently being placed on the industry, with licensee sales remaining strong and development programs meeting goals," Vincent said. "We have an outstanding revenue stream that shows continued potential for growth, especially in the Intron A and hepatitis B vaccine markets. This enables us to underwrite our research and development costs without returning to the financial markets in the forseeable future. This is highly positive for Biogen, because these markets are closed to new stock issues in this uncertain environment.
 "One way in which to evaluate Biogen's strength is by the fact that we continue to attract outstanding senior-level talent to every area of the company. Our most recent addition to our senior management team underscores this, and we are delighted that Dr. Joseph M. Davie, the former corporate senior vice president of science and technology at G.D. Searle, has joined us as vice president of research. Joe's unique experience in both academe and industry should provide critical leadership in our research area."
 Biogen, Inc., headquartered in Cambridge, Mass., is a biopharmacuetical 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, certain cancers and viruses.
 BIOGEN INC.
 Financial Results For The First Quarter 1993
 (amounts in thousands, except per share data)
 Three months ended
 3/31/93 3/31/92
 Revenues
 Royalties and product
 sales $32,540 $15,541
 Research and
 development contracts --- 600
 Interest 2,881 2,981
 Total revenues 35,421 19,122
 Expenses
 Cost of sales 2,819 872
 Research and development 14,965 13,203
 General and
 administrative 3,953 3,894
 Other 1,344 249
 Total expenses 23,081 18,218
 Income before income
 taxes 12,340 904
 Income taxes 1,080 90
 Net income $11,260 $814
 Earnings per share of
 common stock 32 cents 2 cents
 Average number of shares
 outstanding 34,766 34,130
 -0- 4/20/93
 /CONTACT: Kathryn R. Bloom (media), 617-252-9851 or Amy S. Hedison (investment community), 617-252-9873, both of Biogen, Inc./
 (BGEN)


CO: Biogen, Inc. ST: Massachusetts IN: MTC SU: ERN

DD -- NE016 -- 8113 04/20/93 13:22 EDT
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Date:Apr 20, 1993
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