More MS news articles for Oct 2001

Increased sales of Avonex boost Biogen's Q3 profit

10:03 EDT Tuesday, 16th October, 2001

Cambridge-based Biogen Inc., maker of Avonex, the top-selling drug for treatment of multiple sclerosis, announced its third-quarter profit rose 2 percent because of increased sales of the drug.

The company reported quarterly net income of $69.8 million, or 46 cents per share, compared with net income of $68.4 million, or 44 cents a share, for the same quarter a year ago. Sales of Avonex increased 29 percent to $249.2 million from $193.2 million a year earlier, the company reported. For 2000, Biogen reported net income of $333.6 million on sales of $926.5 million. Shares of the company have traded on the Nasdaq exchange between a 52-week high of $75 and a 53-week low of $48.

Copyright 2001 American City Business Journals Inc