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

To: Harold Engstrom who wrote (870)	2/22/1999 4:13:00 PM
From: Biomaven	Respond to of 1686

Harold, Here's a possible leading indicator as to what BGEN thinks of their pipeline: An extract: The Cambridge, Mass.-based biotechnology company has hired ADP Marshall, a Cary engineering and contracting firm, to design what sources say is a $60 million drug production plant that will be much larger than its existing 100,000-square-foot facility. Hal Price, general manager of Biogen's Research Triangle Park operation, confirmed the company is doing some preliminary planning, but he said officials in Massachusetts haven't given the final go-ahead on an expansion. "We're waiting on the results of some clinical tests to come in," Price said. "We haven't committed to anything ... (but) we're hopeful at this point that we will have a need to grow." A decision on a plant expansion likely would be made by the end of the second quarter, he said. The full article: amcity.com Any comments? Peter

To: Harold Engstrom who wrote (870)	2/22/1999 6:05:00 PM
From: Beltropolis Boy	Read Replies (1) \| Respond to of 1686

Biogen OKs 5.3 pct stock buyback February 22, 1999 04:20 PM CAMBRIDGE, Mass., Feb 22 (Reuters) -Pharmaceutical company Biogen Inc., maker of Avonex, the world's most widely prescribed drug for multiple sclerosis, on Monday said its board approved the the repurchase of up to 4 million shares, 5.3 percent of its stock. "We believe the repurchase of our stock is an attractive opportunity and is consistent with our objective of enhancing long-term shareholder value," Jim Vincent, chief executive, said in a statement. Shares of Biogen Monday closed up 1-1/4 to 93-3/8 on the Nasdaq. The company's 52-week high was 100-1/2, its low 41. The company said it will use the shares for general corporate purposes, such as stock to be issued under employee stock option and stock purchase plans. Stock purchases will occur from time to time over the next two years, depending on market conditions and other corporate considerations. From December 1997 through November 1998, Biogen completed a its first repurchase plan, a 2 million share buyback.