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Business Description
IDEC Pharmaceuticals Corporation is a biopharmaceutical company engaged primarily in the research, development, manufacture and commercialization of targeted therapies for the treatment of cancer and autoimmune and inflammatory diseases. The Company's two commercial products, Rituxan and Zevalin (ibritumomab tiuxetan), are for use in the treatment of certain B-cell non-Hodgkin's lymphomas. The Company is also developing products for the treatment of cancer and various autoimmune diseases such as rheumatoid arthritis, psoriasis, allergic asthma and allergic rhinitis. Rituxan, the Company's first product, and Zevalin, its second product approved for marketing in the United States, as well as its other primary products under development, address immune system disorders such as lymphomas, autoimmune and inflammatory diseases. In addition, the Company has discovered other product candidates through the application of its technology platform.

Financial Information
IDPH is primarily engaged in the commercialization and research and development of targeted therapies for the treatment of cancer and autoimmune and inflammatory diseases. For the six months ended 6/30/02, revenues increased 46% to $176.9 million. Net income increased 42% to $65.1 million. Revenues reflect IDEC's joint business arrangement with Genentech, Inc. Earnings were partially offset by decreased interest income.