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Biogen Inc.

Biogen Inc.

NASDAQ•BIIB
CEO: Mr. Christopher A. Viehbacher
Sector: Healthcare
Industry: Drug Manufacturers - General
Listing Date: 1991-09-17
Biogen Inc. discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS. It offers RITUXAN for treating non-Hodgkin's lymphoma, chronic lymphocytic leukemia (CLL), rheumatoid arthritis, two forms of ANCA-associated vasculitis, and pemphigus vulgaris; RITUXAN HYCELA for non-Hodgkin's lymphoma and CLL; GAZYVA to treat CLL and follicular lymphoma; OCREVUS for relapsing MS and primary progressive MS; LUNSUMIO to treat relapsed or refractory follicular lymphoma; glofitamab for non-Hodgkin's lymphoma; and other anti-CD20 therapies. In addition, the company is developing various products for the treatment of MS, Alzheimer's disease and dementia, neuromuscular disorders, Parkinson's disease and movement disorders, neuropsychiatry, genetic neurodevelopmental disorders, and biosimilars, which are under various stages of development. It has collaboration and license agreements with Acorda Therapeutics, Inc.; Alkermes Pharma Ireland Limited; Denali Therapeutics Inc.; Eisai Co., Ltd.; Genentech, Inc.; Neurimmune SubOne AG; Ionis Pharmaceuticals, Inc.; Samsung Bioepis Co., Ltd.; Sangamo Therapeutics, Inc.; and Sage Therapeutics, Inc., as well as collaboration with Fujirebio to potentially identify and develop blood-based biomarkers for tau pathology in the brain. The company was founded in 1978 and is headquartered in Cambridge, Massachusetts.
Contact Information
225 Binney Street, Cambridge, MA, 02142, United States
617-679-2000
www.biogen.com
Market Cap
$22.99B
P/E (TTM)
14.3
22.8
Dividend Yield
--
52W High
$176.95
52W Low
$110.04
52W Range
70%
6.5
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6.5 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$2.45B-0.45%
4-Quarter Trend

EPS

$3.18+19.10%
4-Quarter Trend

FCF

$1.23B+52.22%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue and EPS Growth Total revenue $2.53B, up 2.8%. Diluted EPS $3.17, up 19.2% for Q3 results.
Product Revenue Increased Product revenue reached $1.85B, marking 4.4% increase driven by MS and Rare Disease segments.
R&D Spending Reduced R&D expense fell $80.1M (15.5%) due to portfolio prioritization and Fit for Growth measures.
Strong Cash Position Cash, equivalents, and securities totaled $4.0B, a 66.8% increase from December 31, 2024.

Risk Factors

Generic Competition Impact TECFIDERA revenue declined 27.7% globally due to multiple generic entrants in key markets.
Regulatory Pricing Uncertainty IRA drug pricing reforms may cause modest revenue impact of $50.0M to $100.0M in 2025.
TYSABRI Biosimilar Threat Future TYSABRI sales expected to be adversely affected by biosimilar entrance in international markets.
Operational Cybersecurity Risks Increased reliance on cloud systems heightens vulnerability to breaches, potentially causing operational disruption.

Outlook

Pipeline Advancement Focus Initiated global Phase 3 trials for felzartamab (IgAN, PMN) and announced Alcyone acquisition plans.
New Corporate Headquarters Entered lease for new 580,000 sq ft global HQ in Cambridge, commencing expectedly in May 2028.
Royalty Funding Utilization Recorded $150.0M reduction to R&D expense from Royalty Pharma funding for litifilimab program.
Upcoming Product Launches Expect growth driven by continued SKYCLARYS launch in U.S. and Europe markets throughout 2025.

Peer Comparison

Revenue (TTM)

Centene CorporationCNC
$185.86B
+14.9%
Tenet Healthcare CorporationTHC
$20.86B
-0.6%
Teva Pharmaceutical Industries LimitedTEVA
$16.78B
-0.0%

Gross Margin (Latest Quarter)

Genmab A/SGMAB
93.8%
-2.6 pp
United Therapeutics CorporationUTHR
87.4%
-1.5 pp
Biogen Inc.BIIB
73.4%
-0.7 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
TEVA$28.06B-176.1-2.6%42.8%
BIIB$22.99B14.39.3%22.6%
PODD$22.76B92.418.3%2.6%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
+0.0%
Moderate Growth
4Q Net Income CAGR
+20.5%
Profitability Improved
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 30, 2025|
    Revenue: $2.45B-0.4%
    |
    EPS: $3.18+19.1%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 31, 2025|
    Revenue: $2.65B+7.3%
    |
    EPS: $4.35+8.5%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 1, 2025|
    Revenue: $2.43B+6.1%
    |
    EPS: $1.65-39.1%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 12, 2025|
    Revenue: $9.68B-1.6%
    |
    EPS: $11.20+39.7%
    Miss
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 30, 2024|
    Revenue: $2.47B-2.5%
    |
    EPS: $2.67-668.1%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 1, 2024|
    Revenue: $2.46B+0.4%
    |
    EPS: $4.01-2.0%
    Meet
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: Apr 24, 2024|
    Revenue: $2.29B-7.0%
    |
    EPS: $2.71+0.7%
    Miss
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 14, 2024|
    Revenue: $9.84B-3.3%
    |
    EPS: $8.02-61.8%
    Miss