Biogen Expects Record Sales And Net Income In 1996

Biogen expects to announce record sales and net income for 1996,including fourth-quarter revenues of around $90 million and earnings of over $7 million. Total turnover for the year is set to be around $275 million and net income in excess of $40 million, Jim Vincent, chairman and chief executive of the firm, told delegates at the 15th annual Hambrecht & Quist health care conference.

Mr Vincent also said that the firm's treatment for multiple sclerosis, Avonex (interferon beta-1a), was the market leader for such therapies at the end of 1996 (although this was disputed by Berlex; Marketletter January 6). He believes that there are 21,000-23,000 patients taking Avonex for relapsing forms of MS and that 2,500-3,500 patients are starting Avonex therapy each month. Total 1996 turnover of the product, which was introduced to the US market in May last year, is said to be in excess of $75 million.

"Biogen is moving to a solid market leadership position in the USA," he said, adding that "for the future, we are looking at vigorous, multi-year growth coming from expanded markets and indications. We anticipate market approval in the European Community in the first half of 1997."