BGEN comments on Avonex theoretically positive for ACDO (23.33 +1.08) Biogen noted that it expects low-end royalty revenue to be offset by the strong performance of Avonex. ACDO is the main distributor of Avonex in the U.S. Note that market is softening here, so question for ACDO is will the Avonex comments offset general softening in stocks.
11:12 ET BGEN Biogen guidance details (46.96 -2.18) -- Update -- Co reaffirmed full-year 2003 guidance announced on April 17 (rev growth in the mid-teens and EPS of $1.72-$1.85), and reiterated previous guidance that the co expects quarterly earnings to be uneven during 2003 as the co continues to drive the U.S. launch of Amevive and Phase 3 clinical trials of Antegren. In addition, as discussed in SGP's May 13 announcement, sales of Intron A were reduced in Q1 due primarily to reductions in trade inventory levels, and as a result BGEN believes that full-year royalty rev will be at the low end of the guidance range, but anticipates this will be offset by the strong performance of Avonex. Finally, co said that reported EPS (GAAP) guidance "is not currently accessible" as the co cannot predict with any certainty the nature or the amount of non-operating or unusual charges for subsequent qtrs; the co does, however, anticipate that it may have to take such charges in subsequent qtrs and that such charges, if material, would cause reported EPS to differ from operating EPS.