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

To: William Partmann who wrote (1129)	9/15/1999 8:53:00 PM
From: Beltropolis Boy	Read Replies (1) \| Respond to of 1686

thanks, william. fwiw, up after hours ... ----- Biogen sees higher-than-expected Q3 earnings By Stephanie O'Brien, CBS MarketWatch Last Update: 6:06 PM ET Sep 15, 1999 Cambridge, Mass. (CBS.MW) -- Biogen Inc.said it sees higher-than-expected third-quarter revenue, driven by brisk U.S. sales of its multiple sclerosis drug Avonex. Cambridge, Mass.-based Biogen (BGEN) said continued growth in prescriptions for the drug should push sales to about $160 million. The company sees earnings of about 38 cents a share, 2 cents higher than the average estimate of 24 analysts surveyed by First Call. Biogen said patient growth in the U.S. is driving the revenue increase Shares of Biogen rose 2 1/8, or 2.5 percent to 86 1/4 in Instinet trading after the market closed Wednesday. "We are very pleased by these results, which reflect the continued spread of the message that it is important to treat patients with MS as soon as they are diagnosed," the company's chief executive, Jim Vincent, said in a statement. "Avonex remains the treatment of choice, and has been receiving the greatest benefit as this message is more widely accepted and understood," he said. Lawrence Blumberg, president of Blumberg Capital Management in New York said the news may lift other biotech companies. "I"m very encouraged about the near-term strength of the sector," he said. The upbeat sales figures were good news after seeing some product sluggishness in the third quarter, Blumberg said. "The group has moved in aggregate with the performance of key products in the sector." Biogen said it expects to reinvest most of the top-line growth back into its drug development business.The company said it expects research & development expenditures in 2000 to be about $300 million, or an expected annual growth rate for R&D of more than a third.

To: William Partmann who wrote (1129)	10/20/1999 12:13:00 PM
From: Beltropolis Boy	Read Replies (1) \| Respond to of 1686

(a tiny bit of) yesterday's news. ----- CuraGen Corporation Raises $26 Million from Biogen and Genentech October 19, 1999 08:02 AM NEW HAVEN, Conn., Oct. 19 /PRNewswire/ -- CuraGen Corporation (CRGN), an integrated genomics-based drug discovery and development company, announced today that it has exercised its right under existing collaborative agreements with Biogen, Inc. (BGEN) and Genentech, Inc. (DNA) to borrow an aggregate of $26 million. Simultaneously, with this draw down, CuraGen converted these loans into approximately 1.6 million shares of CuraGen stock at $16.366 per share. These transactions increased Biogen's equity position in CuraGen by $10 million and Genentech's position by $16 million, combining to provide CuraGen with an additional $26 million in cash. "CuraGen is continuing to enhance and develop its suite of innovative technologies to remain at the cutting edge of the genomics industry," stated Jonathan M. Rothberg, Ph.D., Founder, Chairman, and CEO of CuraGen Corporation. Dr. Rothberg further stated, "This additional capital, when combined with Pequot Capital's recent investment, further strengthens CuraGen's ability to add appropriate technologies to better service its collaborators and to advance CuraGen's proprietary drug development programs." The Company previously announced, in September of this year, that Pequot Capital Management, Inc. invested $15 million in CuraGen through a private placement financing. CuraGen Corporation is advancing the discovery and development of pharmaceutical and life science products through the systematic application of genomics. CuraGen's fully integrated, Internet-based genomics technologies, services, and information systems are designed to rapidly generate comprehensive information about human genetic variations, gene expression, biological pathways, and potential products that affect these pathways. CuraGen's research collaborators include Biogen (BGEN), COR Therapeutics (CORR), Genentech (DNA), Glaxo Wellcome (GLX), Hoffmann-La Roche, and Pioneer Hi-Bred International (PHB). The Company employs over 300 people and is headquartered in New Haven, CT, with additional facilities in Branford, CT and Alachua, FL. Additional Company information is available at curagen.com.