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,
1995 1994 1995 1994
Primary earnings per share
Weighted average number of
shares outstanding . . . . . . . 33,302 32,556 33,234 32,479
Shares deemed outstanding from
the assumed exercise of stock
options and warrants . . . . . . 2,435 1,871 2,373 2,605
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Total . . . . . . . . . . . . . . 35,737 34,427 35,607 35,084
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Net income. . . . . . . . . . . . $ 714 $ 611 $ 3,548 $11,840
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Primary earnings per
share of common stock. . . . . . $ 0.02 $ 0.02 $ 0.10 $ 0.34
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Fully diluted earnings per share (a)
Weighted average number of
shares outstanding . . . . . . . 33,302 32,556 33,234 32,479
Shares deemed outstanding from
the assumed exercise of stock
options and warrants . . . . . . 2,827 1,871 2,827 2,605
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Total . . . . . . . . . . . . . . 36,129 34,427 36,061 35,084
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Net income . . . . . . . . . . . $ 714 $ 611 $ 3,548 $11,840
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Fully diluted earnings
per share of common stock. . . . $ 0.02 $ 0.02 $ 0.10 $ 0.34
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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%.