SECURITIES AND EXCHANGE COMMISSION    
                               WASHINGTON, D.C. 20549          
                                              
                                         FORM 10-Q
(Mark one)

[X] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934

For the quarterly period ended      JUNE 30, 1997       

                                    OR

[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934

For the transition period from                   to                   

                      Commission File Number 0-12042
                                                         
                               BIOGEN, INC.                     
                                                                  
          (Exact name of registrant as specified in its charter)

          Massachusetts                                       04-3002117        
   (State or other jurisdiction of        (I.R.S. Employer Identification No.) 
 incorporation or organization)

14 Cambridge Center, Cambridge, MA                   02142                 
(Address of principal executive offices)           (Zip Code)

     Registrant's telephone number, including area code:  (617) 679-2000

     Former name, former address and former fiscal year, if changed since
last report:   Not Applicable

     Indicate by check mark whether the registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has
been subject to such filing requirements for the past 90 days.
                             Yes  X    No     

     Number of shares outstanding of each of the issuer's classes of common
stock, as of July 14, 1997:

  Common Stock, par value $0.01                73,935,753                  
      (Title of each class)                    (Number of Shares)

<PAGE>
                          B I O G E N , I N C .                      

                                   INDEX

                                                                    Page No.
PART I - FINANCIAL INFORMATION

   Condensed Consolidated Statements of Income -
     Three months and six months ended June 30, 1997 and 1996 . . . . . 3

   Condensed Consolidated Balance Sheets -
     June 30, 1997 and December 31, 1996. . . . . . . . . . . . . . . . 4

   Condensed Consolidated Statements of Cash Flows -
     Six months ended June 30, 1997 and 1996. . . . . . . . . . . . . . 5

   Notes to Condensed Consolidated Financial Statements . . . . . . . . 6

   Management's Discussion and Analysis of Financial
     Condition and Results of Operations. . . . . . . . . . . . . . . . 9

 PART II - OTHER INFORMATION. . . . . . . . . . . . . . . . . . . . . .15



                   * * * * * * * * * * * * * * * * * * 












Note concerning trademarks:   HIRULOG(R) and AVONEX(R) are
                              registered trademarks of Biogen, Inc.



<PAGE>
                       BIOGEN, INC. AND SUBSIDIARIES                 Page 3

      CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                (unaudited)
              (in thousands, except per share amounts)


                                         Three Months            Six Months
                                        Ended June 30,        Ended June 30,
                                     1997        1996       1997       1996 
REVENUES

Product sales. . . . . . . . . . . $56,440     $ 6,125    $109,056   $ 6,125
Royalties. . . . . . . . . . . . .  36,007      35,032      78,222    69,410
Interest . . . . . . . . . . . . .   5,206       4,244      10,113     8,709
                                   -------      ------     -------    ------  
 Total revenues. . . . . . . . . .  97,653      45,401     197,391    84,244
                                   -------      ------     -------    ------
EXPENSES

Cost of sales. . . . . . . . . . .  11,444       3,836      23,188     7,989
Research and development . . . . .  32,014      29,302      69,922    53,713
Selling, general and 
 administrative. . . . . . . . . .  20,960      19,747      42,124    32,993
Other. . . . . . . . . . . . . . .    (190)        809         144     1,318
                                    ------      ------      ------    ------
 Total expenses. . . . . . . . . .  64,228      53,694     135,378    96,013
                                    ------      ------     -------    ------

INCOME BEFORE INCOME
   TAXES . . . . . . . . . . . . .  33,425      (8,293)     62,013   (11,769)

Income taxes . . . . . . . . . . .  13,477         800      25,055       982
                                    ------      -------    -------    -------
NET INCOME . . . . . . . . . . . . $19,948     $(9,093)    $36,958  $(12,751)
                                   =======     ========    =======  =========  
    
NET INCOME PER SHARE . . . . . . . $  0.26     $ (0.13)    $  0.48  $  (0.18)
                                   =======     ========    =======  =========

Average shares outstanding . . . .  76,248      71,416      76,546    71,308
                                    ======      ======      ======    ======


See Notes to Condensed Consolidated Financial Statements.

                     BIOGEN, INC. AND SUBSIDIARIES              Page 4

                CONDENSED CONSOLIDATED BALANCE SHEETS
                                        (in thousands)

                                              June 30,1997        Dec.31,1996
                                               (unaudited)
ASSETS
   Current assets
    Cash and cash equivalents . . . . . . . .  $ 73,250             $ 62,032
    Marketable securities . . . . . . . . . .   282,611              259,349
    Accounts receivable, less allowances of 
     $1,312 in 1997 and $1,480 in 1996. . . .    59,807               42,952
    Deferred tax asset, net . . . . . . . . .    49,976               47,888
    Other . . . . . . . . . . . . . . . . . .    32,778               23,533
                                               --------              -------
    Total current assets. . . . . . . . . . .   498,422              435,754
                                               --------              --------
   Property, plant and equipment
    Total cost. . . . . . . . . . . . . . . .   224,970              217,926
    Less accumulated depreciation . . . . . .    57,681               52,603
                                               --------             --------
    Property, plant and equipment, net. . . .   167,289              165,323
                                               --------             --------
   Other assets     
   Patents, net. . .. . . . . . . . . . . . .    12,586               10,458
   Marketable securities  . . . . . . . . . .    18,936               16,003
   Other. . . . . . . . . . . . . . . . . . .     7,679                7,034    
                                               --------             --------
                                               $704,912             $634,572
                                               ========             ========


LIABILITIES AND SHAREHOLDERS' EQUITY
   Current liabilities
    Accounts payable. . . . . . . . . . . . . $ 11,460              $ 15,722
    Current portion long-term debt. . . . . .    4,888                 4,017
    Other current liabilities . . . . . . . .   65,342                68,209
                                              --------              --------
    Total current liabilities . . . . . . . .   81,690                87,948
                                              --------              --------
   Long-term debt . . . . . . . . . . . . . .   64,289                62,254
                                              --------              --------
   Shareholders' equity
    Common stock. . . . . . . . . . . . . . .      739                   725
    Additional paid-in capital. . . . . . . .  512,916               471,623
    Retained earnings . . . . . . . . . . . .   49,789                12,831
    Unrealized loss on
     marketable securities, net of tax  . . .   (4,579)                 (743) 
    Cumulative translation adjustment . . . .       68                   (66)
                                              --------               -------
    Total shareholders' equity. . . . . . . .  558,933               484,370
                                              --------               -------
                                              $704,912              $634,572
                                              ========              ========


See Notes to Condensed Consolidated Financial Statements.



                      BIOGEN, INC. AND SUBSIDIARIES                  Page 5

              CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                (unaudited)
                              (in thousands)

                                                           Six Months Ended
                                                                June 30,        
                                                           1997         1996  

CASH FLOWS FROM OPERATING ACTIVITIES 
  Net income(loss). . . . . . . . . . . . . . . . . .  $  36,958    $(12,751) 
  Adjustments to reconcile net income (loss)
   to net cash provided from (used by) 
    operating activities:
   Depreciation and amortization. . . . . . . . . . .      9,071       7,334
   Deferred income taxes. . . . . . . . . . . . . . .     20,683        (217)   
   Other. . . . . . . . . . . . . . . . . . . . . . .      2,550          -- 
   Changes in:
    Accounts receivable . . . . . . . . . . . . . . .    (16,855)     (7,925)
    Other current assets. . . . . . . . . . . . . . .     (9,245)    (10,603)
    Other assets. . . . . . . . . . . . . . . . . . .       (345)         87
    Accounts payable and 
     other current liabilities. . . . . . . . . . . .     (3,571)      8,064 
                                                         --------     -------
  Net cash provided from (used by) operating 
 activities. . . . . . .  . . . . . . . . . . . . . .     39,246     (16,011)
                                                         -------     -------
CASH FLOWS FROM INVESTING ACTIVITIES
  Purchases of marketable securities. . . . . . . . .   (217,012)   (179,859)
  Proceeds from sales of marketable securities. . . .    192,804     212,662
 Investments in research collaborations . . . . . . .    (11,000)        --
  Acquisitions of property and equipment. . . . . . .    (13,461)    (35,565)
  Additions to patents. . . . . . . . . . . . . . . .     (3,562)     (1,589)   
                                                          -------     -------   
  Net cash used by investing activities . . . . . . .     (52,231)    (4,351)
                                                          --------    -------
CASH FLOWS FROM FINANCING ACTIVITIES
  Proceeds from issuance of long-term debt. . . . . .       4,545      19,042
  Payments of long-term debt. . . . . . . . . . . . .      (1,639)       (833)
 Issuance of common stock . . . . . . . . . . . . . .      21,297       6,441
                                                           -------     -------
  Net cash provided from financing activities . . . .      24,203      24,650
                                                           -------     -------

NET INCREASE IN CASH AND 
  CASH EQUIVALENTS. . . . . . . . . . . . . . . . . .      11,218       4,288

CASH AND CASH EQUIVALENTS, 
  BEGINNING OF PERIOD . . . . . . . . . . . . . . . .      62,032      45,770
                                                          -------     -------   
CASH AND CASH EQUIVALENTS,
  END OF PERIOD . . . . . . . . . . . . . . . . . . .    $ 73,250    $ 50,058
                                                         ========    ========

See Notes to Condensed Consolidated Financial Statements.



                    BIOGEN, INC. AND SUBSIDIARIES                    Page 6

           NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                (unaudited)

1.  In the opinion of management, the accompanying unaudited condensed
    consolidated financial statements include all adjustments, consisting
    of only normal recurring accruals, necessary to present fairly the
    financial position, results of operations and cash flows of the
    Company.  The Company's accounting policies are described in the Notes
    to Consolidated Financial Statements in the Company's 1996 Annual
    Report.  Interim results are not necessarily indicative of the
    operating results for the full year.

 The preparation of financial statements in conformity with generally
 accepted accounting principles requires management to make estimates
 and assumptions that affect the reported amounts of assets and
 liabilities and disclosure of contingent assets and liabilities at
 the date of the financial statements and the reported amounts of
 revenues and expenses during the reporting period.  Actual results
 could differ from those estimates.

    In February 1997, the Financial Accounting Standards Board issued 
 Statement of Financial Accounting Standards Number 128 "Earnings per
 Share" ("SFAS 128") which changes the method of calculating earnings  
 per share.  SFAS 128 requires the presentation of "basic" earnings per 
 share and "diluted" earnings per share on the face of the income             
 statement. Basic earnings per share is computed by dividing the net 
 income available to common shareholders by the weighted average shares   
 of outstanding common stock.  The calculation of diluted earnings per
 share is similar to basic earnings per share except that the denominator 
 includes dilutive common stock equivalents such as stock
 options and warrants.  The Company will adopt SFAS 128 in the fourth
 quarter of 1997, as early adoption is not permitted. The Company does
 not expect the adoption of SFAS 128 to have a material impact on its
 earnings per share calculation.

2.  As of June 30, 1997, the Company had $21.7 million outstanding under a
    term loan secured by a laboratory and office building in Cambridge,
    Massachusetts.  Principal payments of $.8 million are due semi-
    annually through 2004 with the balance due May 8, 2005. 
    
 As of June 30, 1997 the Company had $47.5 million outstanding under the
 a loan agreement with a bank for financing the construction of its
 biological manufacturing facility in North Carolina (the "Construction
 Loan").  The Construction Loan is secured by the facility.  Payments of
 $.8 million are due quarterly through 2006 with the balance due on
 March 31, 2007. 
    
 Terms of the loan agreements include various covenants, including
 financial covenants which require the Company to maintain minimum net
 worth, cash flow and various financial ratios.  The loans are secured
 by the underlying buildings.  

                                                                          <PAGE>
3.  Inventories are stated at the lower of cost or market with cost        
determined under the first-in/first-out ("FIFO") method.  Raw
materials include inventory used in the production of pre-clinical
and clinical products and are expensed as research and development
costs when consumed.  Inventories, net of applicable reserves and
allowances, at June 30, 1997 and December 31, 1996 are as follows:
   
                                      (In Thousands)
                                 June 30, 1997          Dec.  31, 1996
            Raw materials         $     4,236       $       3,262
            Work in process             9,738                7,801
            Finished goods               9,957                5,495     
                                     ----------           ----------
                                    $    23,931       $     16,558
                                       ==========        ==========

4.  On July 3, 1996, Berlex Laboratories, Inc. ("Berlex") filed suit
    against Biogen in the United States District Court for the District of
    New Jersey alleging infringement by Biogen of Berlex's "McCormick"
    patent in the United States in the production of Biogen's
    AVONEX(R)(Interferon beta-1a).  Berlex seeks a judgment granting it
    unspecified damages, a trebling of any damages awarded and a permanent
    injunction restraining Biogen from alleged infringement.  An
    unfavorable ruling in the Berlex suit could have a material adverse
    effect on the Company's results of operations and financial position. 
    The Company believes that it has meritorious defenses to the Berlex
    claim; however, the ultimate outcome is not determinable at this time.
    Prior to the date of the suit filed by Berlex, Biogen had filed a suit
    against Schering AG ("Schering"), Berlex and the Board of Trustees of
    the Leland Stanford Jr. University ("Stanford") in the United States
    District Court for the District of Massachusetts for a declaratory
    judgment of non-infringement and invalidity of the McCormick patent
    contending that AVONEX(R), its manufacturing process and intermediates
    used in that process do not infringe the McCormick patent and that such
    patent is not valid.  In November 1996, the U.S. District Court in
    Massachusetts ruled that it had jurisdiction and Berlex's New Jersey
    action was transferred to Massachusetts.  Biogen and Stanford
    subsequently entered into an agreement voluntarily dismissing Stanford
    from the suit.  A trial is not expected before the latter part of 1998.

 In June 1996, ASTA Medica Aktiengesselschaft ("ASTA") filed for
 arbitration against Biogen with the International Chamber of Commerce
 (ICC) in Paris, France.  In its complaint, ASTA alleges that Biogen's
 1993  termination of a 1989 agreement licensing ASTA to market
 recombinant interferon beta in certain European territories was
 ineffective.  The agreement at issue also included as a party Bioferon,
 a Biogen joint venture that declared bankruptcy in 1993.  The ASTA
 complaint asks that an ICC panel declare that the 1989 license is still
 in force, and, in the alternative, seeks approximately $5 million in
 damages.  The territories in the 1989 license included most of Western
 Europe except Germany. The arbitration will take place in Zurich under
 Swiss law. The Company's management believes that it has meritorious
 defenses to this claim and given the defenses, believes the ultimate
 outcome of this legal proceeding will not have a material adverse
 effect on the results of operations or financial position of the
 Company.

  <PAGE>
                                                                   Page 8
The Company is also a party to a class action lawsuit in connection
with disclosures related to Biogen's Hirulog(R) product.  The Company's
management believes that it has meritorious defenses to the claims in
this lawsuit and given the defenses, believes the ultimate outcome of
this legal proceeding will not have a material adverse effect on the
results of operations or financial position of the Company.
    
5.  In March 1997, the Company and its wholly-owned subsidiary, Biotech
    Manufacturing Limited, signed a research collaboration and license
    agreement (the "Agreement") with CV Therapeutics, Inc. ("CVT") under
    which Biogen obtained rights to develop and market CVT's therapeutic
    CVT-124 for the treatment of edema associated with congestive heart
    failure.  Under the terms of the Agreement, the Company purchased
    approximately 670,000 shares of CVT common stock for $7 million and
    paid a one-time license fee of $5 million. In addition, pursuant to the
    terms of the Agreement, the Company established a $12 million line of
    credit that CVT may use for operating purposes.  At June 30, 1997, the
    Company had advanced $3 million under the line of credit to CVT. 

6.  Income tax expense for June 30, 1997 varied from the amount computed at
    U.S. statutory rates primarily due to the benefit of research and
    development and investment tax credits partially offset by foreign
    losses for which the Company will receive no current tax benefit.  The
    exercise of nonqualified stock options results in a reduction of
    taxable income of the Company equal to the difference between the
    option price and the fair market value on the date of the exercise. 
    During the three and six months ended June 30, 1997, $883,000 and $21
    million, respectively, was credited to additional paid-in capital
    relating to this tax benefit from stock option exercises. 






                                                                         
                                                                         
                                                                         
                                                                         
                                                                         
                                                                         
                                                                         
                                                                         
                                                                         
                                                                         
<PAGE>
                       BIOGEN, INC. AND SUBSIDIARIES                 Page 9    
             MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                    CONDITION AND RESULTS OF OPERATIONS

Overview

Biogen, Inc.  (the "Company" or "Biogen") is a biopharmaceutical company
principally engaged in the business of developing, manufacturing and
marketing drugs for human health care.  The Company currently derives
revenues from sales of AVONEX(R) which is sold under the Biogen name and
from royalties on worldwide sales by the Company's licensees of a number
of products covered under patents controlled by the Company, including
alpha interferon and hepatitis B products.  In May 1996, the Company
received a license from the United States Food and Drug Administration
("FDA") to market Biogen's new product AVONEX(R) as a treatment for
relapsing forms of multiple sclerosis ("MS").  MS is a chronic
inflammatory disease of the central nervous system that affects over one
million people worldwide.  In March 1997, the Company received regulatory
approval to market AVONEX(R) for the treatment of relapsing MS in the 15
member countries of the European Union. During the first quarter of 1997,
the Company began marketing AVONEX(R) in the United Kingdom, Germany,
Sweden, Finland and Switzerland.  Final pricing and reimbursement
approvals are anticipated in certain other countries of the European Union
during 1998.  AVONEX(R) is also on the market in Israel and Cyprus.  The
Company is also seeking approval for AVONEX(R) in Canada and several other
countries. 
 
Results of Operations


For the quarter ended June 30, 1997, the Company reported net income of  
$19.9 million or $0.26 per share as compared to a net loss of $9.1 million
or $(0.13) per share for the comparable period of 1996.  For the six
months ended June 30, 1997, the Company recorded net income of $37 million
or $0.48 per share as compared to a net loss of $12.8 million or $0.18 per
share for the comparable period of 1996.  

Total revenues for the current quarter were $97.7 million, as compared to
$45.4 million in the quarter ended June 30, 1996, an increase of $52.3
million or 115%. The increase in total revenues was primarily due to sales
of the Company's product AVONEX(R) which was introduced in May 1996.  
Sales of AVONEX(R) accounted for $56.4 million of total revenues in the
second quarter of 1997 compared to $6.1 million for the comparable period
in 1996. Revenues from royalties for the current quarter were $36 million,
an increase of $1 million or 2.9% as compared to the quarter ended June
30, 1996.  The Company expects product sales as a percentage of total
revenue to increase over the course of the fiscal year as the Company
continues its introduction of AVONEX(R) in new markets. The Company,
however, expects to face increasing competition in the MS marketplace from
other treatments for MS.

Total revenues for the six months ended June 30, 1997 were $197.4 million,
including $109.1 million from sales of AVONEX(R), as compared to $84.2
million in the comparable period of 1996. Royalties during the six months
ended June 30, 1997 increased $8.8 million, or 12.7% from the comparable
period in 1996, primarily as a result of an increase in alpha interferon
sales by Schering-Plough, which were partially offset by a decrease in
royalties on sales of Hepatitis B vaccines sold by SmithKline and Merck. 

                                                                         
                                                                  Page 10
                                                                         
In the near term, the Company expects overall sales of licensee products
and royalty revenues to fluctuate depending on changes in sales volumes
for specific products, patent expirations, new licensing arrangements or
other developments. Licensee sales levels may also fluctuate from quarter
to quarter due to the timing and extent of major events such as new
indication approvals or vaccination programs.  

Interest income for the current quarter was $5.2 million, an increase of
$1 million or 23.8% as compared to $4.2 million in the comparable period
in 1996.  For the six months ended June 30, 1997, interest income was
$10.1 million compared to $8.7 million in the six months ended June 30,
1996, an increase of $1.4 million or 16.1%. The increase in interest
income is primarily a result of increased funds invested. 

Total expenses for the current quarter were $64.2 million as compared to
$53.7 million in the quarter ended June 30, 1996, an increase of $10.5
million or 19.6%.  Cost of sales in the current quarter totaled $11.4
million an increase of $7.6 million from the quarter ended June 30, 1996. 
Cost of sales in the current quarter includes product costs of $8.8
million compared to $1 million in the quarter ended June 30, 1996, 
relating to sales of AVONEX(R). Research and development expenses for the
current quarter were $32 million, an increase of $2.7 million or 9.3% as
compared to the quarter ended June 30, 1996.  This increase was primarily
due to research funding under existing collaboration agreements, an
increase in clinical trial costs and an increase in the Company's
development efforts related to other research and development programs in
its pipeline.  The Company expects that, in the long-term, research and
development expenses will increase as the Company continues to expand its
development efforts with respect to new products and begins clinical
trials of these products.  Selling, general and administrative expenses
for the current quarter were $21 million, an increase of $1.3 million or
6.6% as compared to the quarter ended June 30, 1996.  This increase was
primarily due to the selling and marketing expenses related to sales of
AVONEX(R). The Company expects that selling, general and administrative
expenses will increase in the near and long-term as the Company continues
to put in place the commercial infrastructure and sales and marketing
organizations necessary to sell AVONEX(R) worldwide.  The anticipated
level of expense will depend on the overall sales levels achieved by
AVONEX(R).  

Total expenses for the six-month period ended June 30, 1997 were $135.4
million as compared to $96 million in the comparable period in 1996, an 
increase of $39.4 million or 41%.  Cost of sales for the six months ended
June 30, 1997 were $23.2 million as compared to $8 million in the
comparable period of 1996, an increase of $15.2 million or 190%.  Cost of
sales for the six months ended June 30, 1997 and 1996 included $16.6
million and $1 million of product costs, respectively, related to the
sales of AVONEX(R).  Cost of sales relating to royalty revenue decreased
$.5 million from $7.1 million to $6.6 million.  Research and development
expenses for the current six-month period were $69.9 million as compared
to $53.7 million in the comparable 1996 period, an increase of $16.2 
million or 30.2%. This increase was primarily due to the research
collaboration with CV Therapeutics, Inc. ("CVT"), an increase in clinical
trial costs and an increase in the Company's development efforts related
to other research and development programs in its pipeline.  In March
1997, the Company entered into a research collaboration and license
agreement with CVT under which Biogen obtained rights to develop and 

                                                                  Page 11

market CVT's therapeutic CVT-124 for treatment of edema associated with
congestive heart failure. In addition to CVT, Biogen currently has three
early stage compounds in clinical trials.  They are LFA3TIP, a T-cell
inhibiting protein being tested as a potential treatment for severe
psoriasis, Gelsolin, a mucolytic agent, that is being studied for
treatment of cystic fibrosis, chronic bronchitis and several other
pulmonary diseases, and CD40 ligand antibody, which is being studied as a
potential treatment for certain autoimmune diseases. The Company continues
to add additional internal resources in the area of research and
development. Selling, general and administrative expenses for the six-month 
period ended June 30, 1997 were $42.1 million as compared to $33
million in the comparable period in 1996, an increase of $9.1 million or
27.6%. This increase was primarily due to the selling and marketing
expenses related to sales of AVONEX(R).

Income tax expense for June 30, 1997 varied from the amount computed at
U.S. statutory rates primarily due to the benefit of research and
development and investment tax credits offset by foreign losses for which
the Company will receive no current tax benefit. The Company's effective
tax rate in 1997 is 40.5% and it is expected to continue at or near this
level for the remainder of 1997. 

In February 1997, the Financial Accounting Standards Board issued SFAS
128, "Earnings per Share" ("SFAS 128") which changes the method of
calculating  earnings per share.  SFAS 128 requires the presentation of
basic earnings per share and diluted earnings per share on the face of the
income statement. Basic earnings per share is computed by dividing the net
income available to common shareholders by the weighted average shares of
outstanding common stock.  The calculation of diluted earnings per share
is similar to basic earnings per share except that the denominator
includes dilutive common stock equivalents such as stock options and
warrants.  See Note 1 to the Condensed Consolidated Financial Statements.





                                                                         
<PAGE>
                                                                  Page 12
Financial Condition

At June 30, 1997, cash, cash equivalents and short term marketable
securities were $355.9 million compared with $321.4 million at December
31, 1996, an increase of $34.5 million.  Working capital increased $68.9
million to $416.7 million between December 31, 1996 and June 30, 1997. Net
cash provided from operating activities for the current quarter was $39.2
million, compared with $16.0 million used by operating activities in 1996. 
Cash outflows for the six months ended June 30, 1997, included investments
in property and equipment and patents of $17.0 million and $11 million
related to research collaboration agreements.  Cash inflows included $4.5
million from loan agreements with banks and $21.3 million from common
stock option exercises and stock purchase plan activity.

The Company has several research programs and collaborations underway.  In
March 1997, the Company and its wholly-owned subsidiary, Biotech
Manufacturing Limited, signed a research collaboration and license
agreement (the "Agreement") with CVT under which Biogen obtained rights to
develop and market CVT's therapeutic CVT-124 for the treatment of edema
associated with congestive heart failure.  Under the terms of the
Agreement, the Company purchased approximately 670,000 shares of CVT
common stock for $7 million and paid a one-time license fee of $5 million. 
In addition, pursuant to the terms of the Agreement, the Company
established a $12 million line of credit that CVT may use for operating
purposes.  At June 30, 1997, the Company had advanced $3 million under the
line of credit to CVT.
                                                                         
Several legal proceedings were pending during the current quarter which
involve the Company.  See Note 4 to the Condensed Consolidated Financial
Statement and Item 1 - Business, "Patents and Other Proprietary Rights" of
the Company's Annual Report on Form 10-K for the fiscal year ended
December 31, 1996 for discussions of these legal proceedings.
                                                                         
The Company currently believes that the financial resources available to
it, including its current working capital, revenues from product sales and
its existing and anticipated contractual relationships, will be sufficient
to finance its planned operations and capital expenditures for the near
term.  However, the Company may have additional funding needs, the extent 
of which will depend upon the level of royalties and product sales, the
outcome of clinical trial programs, the receipt and timing of required
regulatory approvals for products, the results of research and development
efforts and business expansion opportunities.  Accordingly, from time to
time, the Company may obtain funding through various means which could
include collaborative agreements, lease or mortgage financing, sales of 
equity or debt securities and other financing arrangements.




<PAGE>
                                                                  Page 13
Outlook

Safe Harbor Statement under Private Securities Litigation Reform Act of
1995

In addition to historical information, this quarterly report on Form 10-Q
contains forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially from those reflected
in such forward-looking statements.  Reference is made in particular to
forward-looking statements regarding the anticipated level of future
royalty revenues, product sales, expenses and profits and predictions as
to the anticipated outcome of pending litigation.  These and all other
forward-looking statements are made based on the Company's current belief
as to the outcome and timing of such future events.  Factors which could
cause actual results to differ from the Company's expectations and which
could negatively impact the Company's results of operations are discussed
below and elsewhere in this Management's Discussion and Analysis of
Financial Condition and Results of Operation.

Dependence on AVONEX(TM) Sales and Royalty Revenue

While in the past the Company's ability to achieve profitability has been
dependent mainly on the level of royalty revenues as compared to expenses, 
in the future, continued profitability will also be highly dependent on
the level of revenues and profitability from AVONEX(R) sales.  The
Company's ability to sustain profitability from sales of AVONEX(R) will
depend on a number of factors, including: continued market acceptance of
AVONEX(R) in the United States; the Company's ability to maintain a high
level of patient satisfaction with AVONEX(R) in treating the relapsing
form of multiple sclerosis, a disease which is characterized by an uneven
pattern of disease progression; the nature of regulatory and pricing
decisions related to AVONEX(R) worldwide and the extent to which AVONEX(R)
receives reimbursement coverage; market acceptance of AVONEX(R) outside
the United States; successful resolution of the lawsuit with Berlex
related to the "McCormick" patent, which if decided in Berlex's favor
could have a material adverse effect on the Company's operations; the
Company's ability to sustain market share of AVONEX(R) in light of the
introduction of competitive products for the treatment of multiple
sclerosis, such as Teva Pharmaceuticals' Copaxone(R) glatiramer acetate,
which was recently launched in the United States, and Ares-Serono's
Rebif(R), an interferon beta-1a product, which is the subject of a pending
application in the European Union, and also in light of the recent
decision of the European Patent Office to revoke the Company's European
patent covering the expression of recombinant beta interferon; the success
of ongoing development work related to AVONEX(R) in expanded multiple
sclerosis indications and the continued accessibility of third parties to
vial, label, and distribute AVONEX(R) on acceptable terms. The Company's
ability to maintain the level of its royalty revenues will depend on:
sustaining the scope and validity of existing patents; the efforts of
licensees in the clinical testing and marketing of products from which the
Company derives revenue; and the timing and extent of royalties from
additional licensing opportunities. There can be no assurance that the
Company will achieve a positive outcome with respect to any of the factors
discussed in this Section or that the timing and extent of the Company's
success with respect to any combination of these factors will be
sufficient to result in the sustained profitability of the Company.  For a
further discussion of risks regarding drug development, patent matters,
including the Berlex lawsuit on the "McCormick" patent, competition in the
                                                                  Page 14

multiple sclerosis market and regulatory matters, see the Company's Annual
Report on Form 10-K for the period ended December 31, 1996 under the
headings "Business - Risks Associated with Drug Development", "Business -
Patents and Other Proprietary Rights",  "Business - Competition and
Marketing -AVONEX(TM)(interferon beta 1a)", "Business - Regulation" and
"Legal Proceedings."

New Products

AVONEX(R) is currently the only product sold by the Company.  The
Company's long-term viability and growth will depend on the successful 
development and commercialization of other products from its research 
activities and collaborations. The Company has begun to expand its
development efforts related to other potential products in its pipeline. 
The expansion of the pipeline may include increases in spending on
internal projects, the acquisition of third party technologies or products
or other types of investments.  Product development involves a high degree
of risk.  Many important factors affect the Company's ability to
successfully develop and commercialize drugs, including the ability to
obtain and maintain necessary patents and licenses, to demonstrate safety
and efficacy of drug candidates at each stage of the clinical trial
process, to meet applicable regulatory standards and receive required
regulatory approvals, to be capable of producing drug candidates in
commercial quantities at reasonable costs, to compete successfully against
other products and to market products successfully. There can be no
assurance that the Company will be successful in its efforts to develop
and commercialize new products.

                                                                          <PAGE>
   
                                                                      Page 15


                        PART II - OTHER INFORMATION                        



Item 4 - Submission of Matters to a Vote of Security Holders

    (a) The information set forth in this Item 4 relates to matters
        submitted to a vote at the Annual Meeting of Stockholders of Biogen,
        Inc. on June 6, 1997.

    (b) Not applicable.

    (c) A proposal to elect Harold W. Buirkle, Dr. Alexander G. Bearn and
        James L. Vincent to serve for three year terms ending in 2000 and
        until their successors are duly elected and qualified was approved
        with the following vote:

             Nominee             For        Authority Withheld
         Harold W. Buirkle    58,446,168          324,067
         Alexander G. Bearn   58,457,629          312,606
         James L. Vincent     58,472,579          297,656

        A proposal to ratify the selection of Price Waterhouse LLP as the
        Company's independent accountants for the fiscal year ending December
        31, 1997 was approved with 55,588,299 affirmative votes, 44,860
        negative votes, 137,067 abstentions and 0 broker non-votes.

    (d) Not applicable.



Item 6 - Exhibits and Reports on Form 8-K

     (a) Exhibits       

         No. 11         Computation of Earnings per Share.

     (b)                There were no reports on Form 8-K filed for the
                        quarter ended June 30, 1997.

                        



                                SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                        BIOGEN, INC.

Dated: July 24, 1997                       /s/Timothy M. Kish              
                                        ----------------------------------
                                                Timothy M. Kish
                                          Vice President-Finance and
                                            Chief Financial Officer<PAGE>
 

                                                                    Page 16
                        PART II - OTHER INFORMATION                        

EXHIBITS                                                                   


Index to Exhibits.


No. 10.1       1985 Non-qualified Stock Option Plan (as amended               
through December 6, 1996).
    

No. 10.2       1987 Scientific Board Stock Option Plan (as amended             
through December 6, 1996)          

No. 11        Computation of Earnings per Share.<PAGE>