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Biotech / Medical : Biogen -- Ignore unavailable to you. Want to Upgrade?

To: Beltropolis Boy who wrote (1079)	7/10/1999 12:20:00 AM
From: Walkingshadow	Read Replies (1) \| Respond to of 1686

This, from The Motley Fool: Biogen Earnings Soar Biopharmaceutical company Biogen Inc. (Nasdaq: BGEN) posted second-quarter earnings of $0.34 a share, before charges, up 70% from $0.20 a year ago and ahead of analysts' mean estimate of $0.32. Revenues gained 47% to $188.9 million. Including a non-cash charge of about $15.3 million to write down certain publicly traded securities tied to collaborations with smaller biotechnology companies, earnings came in at $0.28 a share. The Cambridge, Massachusetts-based company attributed the strong quarterly performance to the success of its drug for multiple sclerosis, Avonex. Sales for the drug jumped 67% year-over-year to around $145.9 million during the quarter. Avonex is the world's leading drug for multiple sclerosis with roughly 70,000 patients now using it worldwide. Looking forward, Biogen said it is "proceeding aggressively" to start Phase III trials of its Amevive treatment for moderate-to-severe psoriasis. The company has begun human trials with Antova in islet cell transplantation for diabetes, in renal transplantation, and in lupus. WS