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

To: Harold Engstrom who wrote (837)	1/12/1999 2:21:00 PM
From: Beltropolis Boy	Respond to of 1686

>Anyone attending Biogen's presentation at the H&Q conference in about an hour? Will someone report back on what is said? harold. unfortunately, i'm on the right bank of the country, but i'll post any highlights i might find. if a lehman bro's analyst attends, perhaps we might get a freebie report a full week later (for non-clients). in the meantime, while this investor piece tragically overlooks us, you might be interested in at least perusing it. fwiw, the author, dr. mack, indicates in the last para that "Later this week, we'll try to catch up on the buzz of the conference, and let you know which presentations fly or flop." -chris. ----- Posted 1/11/99 Sectors & Trends It's showtime for biotech stocks Hot biotechs and medical-device companies will strut their stuff again at the Hambrecht & Quist confab this week and the big money will be watching. Here's the lineup. By George S. Mack moneycentral.msn.com

To: Harold Engstrom who wrote (837)	1/12/1999 2:57:00 PM
From: William Partmann	Read Replies (2) \| Respond to of 1686

SAN FRANCISCO, Jan. 12 /PRNewswire/ -- Biogen's (Nasdaq: BGEN - news) AVONEX® (Interferon beta-1a) is the worldwide market leader among multiple sclerosis therapies, Jim Vincent, Chairman and Chief Executive Officer, said today at the annual Hambrecht & Quist Life Sciences Conference, and the Company anticipates announcing record sales and net income for 1998. Biogen will report fourth-quarter AVONEX® sales of more than $120 million worldwide, with European AVONEX® sales of more than $30 million. The Company also expects to announce fourth-quarter earnings of 54 cents per share and earnings of $1.80 for the full year of 1998. Driving this growth is a 60 percent increase in the number of patients on AVONEX® therapy during the past year. More than 55,000 patients worldwide are now taking AVONEX® for relapsing forms of multiple sclerosis (MS), compared to approximately 35,000 patients at year-end 1997, Mr. Vincent said, expressing confidence that the growth will continue. ''We can now see that 100,000 patients on AVONEX® worldwide should be an achievable goal over the next several years.'' He noted that growth and penetration in the European market will make a significant contribution to AVONEX® revenues in 1999. ''AVONEX® is the drug of choice in the MS marketplace,'' Mr. Vincent said. ''We have a two-to-one relative share in the United States, and we are leading in other important markets in Europe and elsewhere. The global MS treatment market is expanding rapidly, due to geographic market growth, increasing acceptance of the need to 'treat early' and treat all persons with MS, and growing patient awareness. We believe all of this supports our expectations of a strong 1999.'' Mr. Vincent said that Biogen currently has three compounds in clinical trials and has ongoing studies of AVONEX® that are designed to support a broader label, both for MS and additional indications. The compounds in clinical development are AMEVIVE™ (Human LFA-3/IgG1 fusion protein, LFA3TIP), a T-cell inhibiting protein that is being studied as a treatment for psoriasis; ANTOVA™ (Humanized anti-CD40 ligand antibody/5c8), for which the Company is conducting Phase 2 trials in ITP (immune thrombocytopenic purpura) and lupus; and ADENTRI™ (Adenosine A1 antagonist) for treatment of edema associated with congestive heart failure. Commenting on Biogen's royalty stream from out-licensed products, Mr. Vincent said Biogen has filed for arbitration under its license agreement with Schering-Plough relating to alpha interferon. The arbitration seeks to establish the appropriate royalty payments payable for sales of Rebetron®, Schering-Plough's new antiviral product recently launched for the treatment of hepatitis C. Rebetron® is an alpha interferon-based product licensed under the agreement. Biogen believes that the royalty payments being made by Schering-Plough are lower than what is required under the license. 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® revenue growth phase, the number of patients targeted to be on therapy in the future, and expansion of the MS market. 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® in Europe and in other new markets, 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., winner of the 1998 U.S. National Medal of Technology, is a biopharmaceutical company principally engaged in discovering and developing drugs for human healthcare through genetic engineering. Headquartered in Cambridge, MA, the Company's revenues are generated from U.S. and European sales of AVONEX® (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 and in 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.

To: Harold Engstrom who wrote (837)	1/12/1999 9:54:00 PM
From: Vector1	Read Replies (1) \| Respond to of 1686

Greetings from H&Q As Dick Vitale might say "Awesome baby" The following are my thoughts from the main presentation: Biogen presented in the main ballroom and it was packed with people standing three deep in the back. Vincent made an excellent presentation reminding people that he joined the company as CEO in 85 when the company was close to Bankrupt. It was Vincent who was instrumental is fixing the balance sheet, putting the company on solid financial footing and developing Avonex. He then talked about the progress and momentum of Avonex. 31,000 US patients at year end and 13,000 in Europe. I won't repeat what was in the press release but earnings and rev for the 4th q exceeded my expectations. They did not give an estimate for 99 but put up a slide that showed $700m in sales for 99. They also suggested that there would be slight bottom line margin improvements between now and 20001. Back of thevelope v1 estimates show $2.55-2.75 in EPS in 99. A lot will depend on the R&D spend which is ramping up. Avonex has a 2-1 market share lead in the US. Internal goal of 100,000 patients by 2001. Evidence is growing showing the benefit of early tretment to slow brain atrophy. We could be looking at a billion dollar drug by 2001-2002. More to come