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BIOGEN REPORTS THIRD QUARTER EARNINGS OF 33 CENTS PER SHARE

 BIOGEN REPORTS THIRD QUARTER EARNINGS OF 33 CENTS PER SHARE
 CAMBRIDGE, Mass., Oct. 8 /PRNewswire/ -- Biogen Inc., (NASDAQ: BGEN) today reported that revenues for the third quarter ended Sept. 30, 1992 were $40.6 million, more than double the amount from the third quarter of 1991, and net income and earnings per share for the quarter were $11.1 million and 33 cents respectively, compared to $1 million and 3 cents for the prior year's quarter. revenues for the nine months ended Sept. 30, 1992 were $80.6 million and net income was $12.6 million, as compared to revenues of $52 million and earnings of $3.5 million for the same period last year.
 The increase in revenues vs. both last year's third quarter and this year's second quarter, reflects exceptionally strong product sales by Biogen's major licensees.
 These products are hepatitis B vaccines, sold by SmithKline Beecham and Merck, and alpha interferon, sold by Schering-Plough as Intron R)A. The dramatic increase in sales of hepatitis B vaccines is due largely to the recent vaccination program for workers covered by OSHA regulations and the growth in childhood vaccinations in the United States. The significant increase in Intron A sales is attributed to sales in Japan for the treatment of hepatitis C. A significant portion of these sales increases began in the second quarter which contributed in excess of $10 million to third quarter revenues.
 Research and development expenses for the quarter grew by 40 percent over the same period last year. These increased expenses reflect the expansion of clinical trial programs for the company's two proprietary products, Hirulog(tm) and recombinant beta interferon, both of which are in Phase II and Phase III trials. Third quarter results also reflect a previously announced $5 million charge relating to the company's investment in Bioferon, a 50 percent-owned joint venture with Dr. Rentschler Arzneimittel GmbH & Co.
 Biogen chairman Jim Vincent stated, "The dramatic sales increases for both hepatitis B vaccines and Intron A are extremely encouraging. It now appears that sales of our licensed products will be well over $1 billion for 1992, as compared to approximately $700 million in 1991, an increase of more than 40 percent. As a result, we expect our revenues for the year to exceed $100 million, a milestone that only a few biopharmaceutical companies have achieved."
 "The importance to Biogen of this news is that we will be able to combine aggressive research investment and product devvelopment without added financial risk," Vincent continued. "Although we will see some volatility in quarterly results and our licensees may not be able to sustain the sales levels of recent quarters, this increase in royalty growth rate will enable us to proceed with the commercialization of Hirulog and beta interferon, both of which are showing great promise, with a financial profile that is unique to this 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.
 BIOGEN, INC.
 Financial Results For The Third Quarter 1992
 (amounts in thousands, except per share data)
 Three-months ended Nine-months ended
 9/30/92 9/30/91 9/30/92 9/30/91
 Revenues
 Royalties and product
 sales $37,489 $13,820 $70,679 $41,779
 Research and
 development contracts 400 965 1,500 4,215
 Interest 2,714 1,860 8,451 5,982
 Total revenues 40,603 16,645 80,630 51,976
 Expenses
 Cost of sales 2,946 868 5,157 2,649
 Research and development 16,307 11,666 44,599 32,363
 General and
 administrative 4,824 3,341 12,872 10,689
 Other 4,936 (348) 4,753 (169)
 Total expenses 29,013 15,527 67,381 45,532
 Income before income
 taxes 11,590 1,118 13,249 6,444
 Income taxes 450 85 630 260
 Net income 11,140 1,033 12,619 6,184
 Preferred dividends --- --- --- 2,679
 Earnings applicable to
 common stock $11,140 $1,033 $12,619 $3,505
 Earnings per share of
 common stock 33 cents 3 cents 37 cents 12 cents
 Average number of shares
 outstanding 33,984 31,595 33,784 28,923
 -0- 10/8/92
 /CONTACT: Kathryn R. Bloom (media), 617-252-9851 or Amy D. Seltzer (investment community), 617-252-9873, both of Biogen, Inc./
 (BGN) CO: Biogen, Inc. ST: Massachusetts IN: MTC SU: ERN


TM -- NE005 -- 0353 10/08/92 10:06 EDT
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Date:Oct 8, 1992
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