Update - dip in 2nd-qtr net income for Biogen

Biogen has reported a 0.3% decrease in net income for the second quarterof 2001 to $71.9 million, or $0.47 per share, while revenues were $261 million, a rise of 13%. Product sales were driven by the firm's multiple sclerosis treatment Avonex (interferon beta-1a), and chief executive James Mullen said that total revenues for 2001 should top $1 billion. Excluding exceptionals, Biogen expects EPS for the full year to be in the range of $1.90-$1.92.

Mr Mullen went on to note that, with the completion of Phase III trials of its treatment for chronic plaque psoriasis, Amevive (alefacept; Marketletter June 25), Biogen currently has six products in the clinic, "representing enormous progress from just a year ago."