Company Press Release
SOURCE: Biogen, Inc.
Biogen's AVONEX (Interferon Beta-1a) Maintains #1
Position in U.S. MS Market at End of First Full Year on
the Market
SAN FRANCISCO, Jan. 13 /PRNewswire/ -- Biogen's AVONEX(R) (Interferon beta-1a) is the
market leader among multiple sclerosis therapies in the U.S. and is at the front end of a major
sales-growth opportunity in Europe, Jim Tobin, Chief Executive Officer, said today at the annual
Hambrecht & Quist Life Sciences Conference. The Company anticipates announcing record sales
and net income for 1997. The Company will report fourth quarter AVONEX(R) sales of
approximately $70 million worldwide and European AVONEX(R) sales of approximately $10
million. The Company also expects to announce fourth- quarter earnings in excess of 40 cents per
share and earnings of more than $1.15 for the full year of 1997.
Mr. Tobin said that approximately 35,000 patients worldwide are now taking AVONEX(R) for
relapsing forms of MS, including approximately 31,000 patients in the United States. European sales
have doubled each quarter since market launches began in March 1997. Most recently, Biogen
launched AVONEX(R) in France last month, after receiving pricing and reimbursement approval
from local regulatory authorities.
Mr. Tobin said, ''After 20 months on the U.S. market, the votes are in -- and AVONEX(R) is the
drug of choice. Sales have continued to increase quarter-over-quarter. The fourth quarter of 1997
was the strongest growth quarter we have seen since early in the launch, driven by our 'treat early'
message in the U.S. and increasing penetration in Europe.
''Even with three drugs aggressively competing for U.S. market share, we are still only treating about
a third of the total relapsing MS population. Biogen's biggest challenge is to extend treatment to as
many of the remaining two-thirds of relapsing MS patients as possible. Our most important marketing
thrust is to promote early treatment of MS with AVONEX(R) -- to make sure that the neurology
community uses it to slow progression of disease, rather than waiting until irreversible deficit has
already happened.''
Mr. Tobin said that Biogen currently has four compounds in clinical trials and expects partners to
begin clinical trials of two other compounds this spring. The Company has ongoing studies of
AVONEX(R) that are designed to support a broader label, both for MS and additional indications.
Other compounds in clinical development are LFA3TIP, a T-cell inhibiting protein that is being
studied as a treatment for psoriasis; CVT-124 for treatment of edema associated with congestive
heart failure, and 5c8/CD40 ligand, which the Company expects to enter Phase 2 trials this year in
ITP (idiopathic thrombocytopenic purpura), lupus and Factor VIII antibody inhibition. The Company
expects Merck to begin clinical trials this spring of Biogen's anti- VLA4 inhibitor molecule as a
potential treatment for asthma and also anticipates that The Medicines Company will begin trials of
Biogen's HIRULOG(R) in angioplasty and acute myocardial infarction.
In addition to historical facts, this press release contains forward- looking statements that involve
risks and uncertainties that could cause actual results to differ materially from those reflected in the
forward- looking statements. Reference is made in particular to statements regarding the anticipated
AVONEX(R) revenue growth phase, anticipated entry into new markets and the expected
commencement of clinical trials. Factors which could cause actual results to differ from the
Company's expectations include, without limitation, the impact of competitive products, any delay or
failure in obtaining market acceptance for AVONEX(R) in Europe and in other new markets,
unexpected events related to the Company's drug candidates, and the other risks and uncertainties
associated with drug development and commercialization described in the Company's periodic
reports filed with the Securities and Exchange Commission.
Biogen, Inc., headquartered in Cambridge, MA, is a biopharmaceutical company principally engaged
in discovering and developing drugs for human healthcare through genetic engineering. The
Company's revenues are generated from U.S. and European sales of AVONEX(R) (Interferon
beta-1a) for treatment of relapsing forms of multiple sclerosis, and from the worldwide sales by
licensees of a number of products, including alpha interferon and hepatitis B vaccines and diagnostic
products. Biogen's research and development activities are focused on novel products for multiple
sclerosis, inflammatory, respiratory, kidney and cardiovascular diseases, developmental biology and
gene therapy. For copies of press releases and additional information about the Company, please
consult Biogen's Homepage on the World Wide Web at biogen.com.
SOURCE: Biogen, Inc. |
