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
Market Cap
$25.77B
P/E (TTM)
19.9
20.3
Dividend Yield
--
52W High
$202.41
52W Low
$110.04
52W Range
Rank21Top 7.6%
6.0
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025
Financial Dashboard
Q4 2025 Data
Revenue
$2.28B+0.00%
4-Quarter Trend
EPS
-$0.33+0.00%
4-Quarter Trend
FCF
$555.90M+0.00%
4-Quarter Trend
2025 Annual Earnings Highlights
Key Highlights
Total Revenue Increased 2.2% Total revenue reached $9.89B USD in 2025, marking a 2.2% increase over 2024, driven by Rare Disease growth.
Rare Disease Revenue Strong Growth Rare disease revenue grew $166.1M (8.4%) due to SKYCLARYS sales of $520.5M and QALSODY launch success.
Alzheimer's Collaboration Revenue Rises Alzheimer's collaboration revenue hit $177.7M in 2025, reflecting strong initial uptake and continued launch of LEQEMBI.
Secured Major Funding Agreements Received $200.0M from Royalty Pharma for litifilimab program; acquired Alcyone for $85.0M in milestones.
Risk Factors
MS Revenue Faces Steep Decline Multiple Sclerosis revenue dropped $310.9M (7.1%) due to generic competition impacting TECFIDERA and TYSABRI sales.
Increased R&D and Milestone Costs Total costs rose $564.2M (7.3%), heavily impacted by $410.3M increase in acquired IPR&D, upfront, and milestone expenses.
Litigation Expense Significant Impact Other (Income) Expense, Net included $139.5M litigation expense related to Convergence acquisition settlement.
Manufacturing Capacity Utilization Risk Failure to fully utilize new Solothurn facility may result in excess capacity charges negatively affecting financial condition.
Outlook
Salanersen Phase 3 Study Starts Phase 3 registrational study for Salanersen (SMA treatment) is expected to commence in 2026, advancing pipeline.
MS Revenue Decline Expected Expect total MS revenue to continue declining in 2026 due to accelerating generic competition across key markets.
New Corporate Headquarters Lease New global HQ lease term commences May 31, 2028, part of a plan reducing Massachusetts real estate footprint 40%.
Increased R&D Investment Forecast Core research and development expense expected to increase slightly in 2026, focusing investments on late-stage programs.
Peer Comparison
Revenue (TTM)
$194.78B
$21.31B
$17.26B
Gross Margin (Latest Quarter)
92.3%
90.9%
86.9%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| TEVA | $34.16B | 24.5 | 20.1% | 42.7% |
| BIIB | $25.77B | 19.9 | 7.3% | 23.6% |
| UTHR | $24.79B | 18.8 | 19.3% | 0.0% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-2.1%
Flat Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
100%
Strong Cash Flow
Deep Research
Next earnings:Apr 29, 2026
EPS:-
|Revenue:-
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement | LTM |
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No Data