CAMBRIDGE, Mass., Dec. 21 /PRNewswire/ -- Biogen, Inc. (Nasdaq: BGEN) said
today that 2001 revenues will exceed $1 billion dollars. This is the first
time Biogen has achieved this record level of sales and royalty revenues.
(Photo: http://www.newscom.com/cgi-bin/prnh/19990824/BIOLOGO )
James C. Mullen, Biogen's President and Chief Executive Officer, said,
"Achieving a billion dollars in annual revenues is an extraordinary
achievement for any company, and Biogen is now part of an elite group within
the biotechnology industry. To put this into financial perspective, our
annual revenues were less than a hundred million dollars as recently as 1991.
"The $1 billion revenue milestone reflects the dedication of our entire
organization to bringing Biogen to the next level of operating success.
During 2002, we will continue research on AVONEX(R) (Interferon beta-1a) and
continue our commitment to the MS community with the Phase III clinical trials
of ANTEGREN(TM) (natalizumab), which we are developing with Elan Corporation.
We also expect the FDA to complete its review of data from the Phase III
clinical trial of AMEVIVE(R) (alefacept), our candidate for treatment of
moderate-to-severe psoriasis. We intend to use our success with AVONEX as the
model for introducing our second proprietary product to the marketplace.
"The meaning of this achievement to the MS community is especially
important. AVONEX(R), the world's leading therapy for MS, is the drug of
choice for tens of thousands of men and women with MS and the physicians who
treat them. Biogen is committed to this community and dedicates approximately
30% of our annual product sales to ongoing research."
Biogen launched AVONEX in the U.S. market in 1996 and in Europe in 1997.
Today, more than 114,000 people with MS throughout the world take AVONEX as a
once-a-week intramuscular injection.
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 projections regarding
revenue amounts and anticipated events related to development stage products,
including AMEVIVE(R).
Factors which could cause actual revenue results to differ from the
Company's current expectations include, without limitation, any unexpected
negative results, any unanticipated increase in expenses, any unexpected costs
related to commercialization activities 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.
Factors which could cause actual results regarding development stage
programs to differ from the Company's current expectations include obstacles
that may arise or issues that are identified in connection with review of data
by regulatory authorities or the risk that regulatory authorities may disagree
with the Company's view of the data or may require additional data or
information or additional studies, as well as the other risks and
uncertainties associated with drug development described in the Company's
periodic reports filed with the Securities and Exchange Commission. Drug
development involves a high degree of risk. Success in early stage clinical
trials or preclinical work does not ensure that later stage or larger scale
clinical trials will be successful.
Biogen, Inc., winner of the 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(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 to treat inflammatory and autoimmune diseases, neurological diseases,
cancer, fibrosis and congestive heart failure. The Company maintains active
clinical research programs in protein therapeutics, small molecules, genomics
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
http://www.biogen.com.
AVONEX(R) (Interferon beta-1a) is a registered trademark of Biogen, Inc.
AMEVIVE(R) (alefacept) is a registered trademark of Biogen, Inc. ANTEGREN(R)
(natalizumab) is a registered trademark of Elan Corporation.
SOURCE Biogen, Inc.
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Related links:
http://www.biogen.com
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NewsCom:
http://www.newscom.com/cgi-bin/prnh/19990824/BIOLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 212-782-2840
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CONTACT:
Kathryn R. Bloom, Senior Director, Public
Affairs, +1-617-679-2851, or Elizabeth Woo, Associate Director,
Investor Relations, +1-617-679-2822, both of Biogen, Inc.
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