EXHIBIT 11
EXHIBIT 11
BIOGEN, INC. and SUBSIDIARIES
Computation of Earnings Per Share
(unaudited)
(in thousands, except per share amounts)
Three Months Six Months
Ended June 30, Ended June 30,
1994 1993 1994 1993
Primary earnings per share
Weighted average number of
shares outstanding . . . . . . . 32,556 31,901 32,479 31,848
Shares deemed outstanding from
the assumed exercise of stock
options and warrants . . . . . . 1,871 2,639 2,605 2,805
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Total . . . . . . . . . . . . . . 34,427 34,540 35,084 34,653
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Net income. . . . . . . . . . . . $ 611 $ 5,644 $11,840 $16,904
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Primary earnings per
share of common stock. . . . . . $ 0.02 $ 0.17 $ 0.34 $ 0.49
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Fully diluted earnings per share (a)
Weighted average number of
shares outstanding . . . . . . . 32,556 31,901 32,479 31,848
Shares deemed outstanding from
the assumed exercise of stock
options and warrants . . . . . . 1,871 2,639 2,605 2,805
------- ------- ------- -------
Total . . . . . . . . . . . . . . 34,427 34,540 35,084 34,653
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Net income . . . . . . . . . . . $ 611 $ 5,644 $11,840 $16,904
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Fully diluted earnings
per share of common stock. . . . $ 0.02 $ 0.17 $ 0.34 $ 0.49
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(a) This calculation is submitted in accordance with Regulation S-K item
601 (b) (11) although not required by Footnote 2 to Paragraph 14 of
APB Opinion No. 15 because it results in dilution of less than 3%.