EXHIBIT 11
BIOGEN, INC. and SUBSIDIARIES
Computation of Earnings Per Share
(unaudited)
(in thousands, except per share amounts)
Three Months Nine Months
Ended Sep. 30, Ended Sep 30,
1995 1994 1995 1994
Primary earnings per share
Weighted average number of
shares outstanding . . . . . . . 33,950 33,021 33,473 32,660
Shares deemed outstanding from
the assumed exercise of stock
options and warrants . . . . . . 2,770 -- 2,505 --
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Total . . . . . . . . . . . . . . 36,720 33,021 35,978 32,660
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Net income (loss) . . . . . . . . $ 1,128 $(26,421) $ 4,676 $(14,581)
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Primary earnings (loss) per
share of common stock. . . . . . $ 0.03 $ (0.80) $ 0.13 $ (0.45)
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Fully diluted earnings per share (a)
Weighted average number of
shares outstanding . . . . . . . 33,950 33,021 33,473 32,660
Shares deemed outstanding from
the assumed exercise of stock
options and warrants . . . . . . 3,360 -- 3,360 --
------- -------- -------- --------
Total . . . . . . . . . . . . . . 37,310 33,021 36,833 32,660
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Net income (loss) . . . . . . . . $ 1,128 $(26,421) $ 4,676 $(14,581)
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Fully diluted earnings (loss)
per share of common stock. . . . $ 0.03 $ (0.80) $ 0.13 $ (0.45)
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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%.