Biogen misses Street EPS

BGEN reported second quarter EPS of $0.29, a penny shy of the Street's $0.30 estimate. BGEN's revenues for the quarter were $269.3 million, up from $260.6 million in the second quarter of 2001. Sales of BGEN's Avonex drug for multiple sclerosis were $250.5 million, up from $243.1 million in the prior year's second quarter. The company attributed the slow revenue growth to an inventory reduction by wholesalers. For the third quarter, BGEN reiterated its expectation of operating EPS of $0.32-$0.38. ...