Strong 2000 results for Immunex

Immunex Corp has reported net income of $154.4 million for the yearended December 31, 2000, on revenues of $861.8 million, reflecting significant growth over 1999, when the company posted net earnings of $44.3 million on revenues of $541.7 million. Sales of Enbrel (etanercept), the company's treatment for rheumatoid arthritis, increased 78% to $652.4 million in 2000, its second full year on the market, while the immune system modulator Leukine (sargramostim) grew 28% over 1999 to $88.3 million.

Net sales of Novantrone (mitoxantrone for injection concentrate) totaled $59.9 million, a rise of 35%. The drug recently received approval from the US Food and Drug Adminstration for the treatment of patients with the secondary-progressive form of multiple sclerosis (Marketletter October 23, 2000). Novantrone was previously indicated for reducing neurologic disability and/or the frequency of clinical relapses with SPMS, as well as the progressive-relapsing and worsening relapsing-remitting forms of the disease.

Immunex' R&D expenses totaled $166.7 million for the year, compared to $126.7 million in 1999, which the firm said reflects a range of new investments in research and product collaborations to expand and accelerate the company's new product pipeline.