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BIOGEN REPORTS SECOND QUARTER 1993 EARNINGS OF $5.6 MILLION VS. $0.7 MILLION IN SECOND QUARTER 1992

 CAMBRIDGE, Mass., July 14 /PRNewswire/ -- Biogen, Inc. (NASDAQ: BGEN) today reported net income of $5,644,000 or earnings per share of 17 cents for the three months ended June 30, 1993. Revenues for the quarter were $37,854,000. For the second quarter last year, the company reported net income of $665,000, or 2 cents per share, on revenues of $20,905,000. Revenues for the six months ended June 30, 1993 were $73,275,000 and earnings were $16,904,000. For the six months ended June 30, 1992, revenues were $40,027,000 and earnings were $1,479,000.
 Biogen's higher earnings were based on significant increases in royalty revenues, largely due to continuing strong sales by licensees of Intron(R)A alpha interferon and hepatitis B vaccines. The quarterly results also reflect a one-time charge of $4.3 million for certain obligations prior to 1993 as a result of the recently announced patent settlement between Schering-Plough and Genentech. During the quarter, research and development expenses were significantly higher than last year due to the continuing development of the company's lead proprietary drug candidates, Hirulog(tm) and recombinant beta interferon, which are in Phase II and Phase III clinical trials for a number of disease indications.
 Biogen's Chairman and Chief Executive Officer, James L. Vincent remarked, "We are very pleased with our results. Our product candidates continue to do very well and our financial performance was strong again this quarter. We recently made a strong statement about our future with our announcement of plans to construct a new 130,000 square foot laboratory and office building in Cambridge, Mass., to meet our expansion needs."
 Vincent added, "The financial impact of the Genentech-Schering licensing agreement is not expected to be significant to our company as the total future obligation to Genentech is capped by agreement at less than $11 million through 1996. Biogen and Schering-Plough have not yet reached agreement as to the allocation of that cost between our two companies."
 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, certain cancers and viruses.
 BIOGEN, INC.
 Financial Results For The Second Quarter 1993
 (in thousands, except per share amounts)
 Three-months ended Six-months ended
 6/30/93 6/30/92 6/30/93 6/30/92
 Revenues
 Royalties and product
 sales $34,714 $17,649 $67,254 $33,190
 Research and
 development contracts --- 500 --- 1,100
 Interest 3,140 2,756 6,021 5,737
 Total revenues 37,854 20,905 73,275 40,027
 Expenses
 Cost of sales 3,621 1,339 6,440 2,211
 Research and development 17,140 15,089 32,105 28,292
 General and
 administrative 4,851 4,154 8,804 8,048
 Other 6,088 (432) 7,432 (183)
 Total expenses 31,700 20,150 54,781 38,368
 Income before income taxes 6,154 755 18,494 1,659
 Income taxes 510 90 1,590 180
 Net income $5,644 $665 $16,904 $1,479
 Earnings per share of
 common stock 17 cents 2 cents 49 cents 4 cents
 Average number of shares
 outstanding 34,540 33,237 34,653 33,683
 -0- 7/14/93
 /CONTACT: Kathryn R. Bloom, director of communications, 617-252-9851 (media); Amy S. Hedison, director of investor relations, 617-252-9873, (investment community), both of Biogen/
 (BGEN)


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

DJ -- NE011 -- 1560 07/14/93 16:02 EDT
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Date:Jul 14, 1993
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