Income StatementBalance SheetCash FlowSegments
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Biogen Business Segments

Business, geographic, and product segment breakdowns

Biogen generates $9.9B in annual revenue across 4 key segments: AVONEX ($691.9M), BENEPALI ($464.0M), BYOOVIZ ($23.5M), and FAMPYRA ($1.1M). Based on the Q1 2026 filing.

AVONEX (TTM)$691.9MBENEPALI (TTM)$464.0MBYOOVIZ (TTM)$23.5MFAMPYRA (TTM)$1.1MFLIXABI (TTM)$50.0MFUMADERM And ADUHELM (TTM)$400.0KIMRALDI (TTM)$192.4MPLEGRIDY (TTM)$254.9M
Latest FilingQ1 2026
Report Date2026-04-29
Market Cap$28.3B
P/E Ratio19.94
ROE7.98%

Products & Services

Share of non-controling interest recognized

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Alzheimer's collaboration revenue50.0%50.0%50.0%50.0%50.0%—
LEQEMBI Collaboration———50.0%——

Total Revenue

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
AVONEX$166.8M$177.7M$188.5M$162.5M$163.2M—
BENEPALI$111.3M$112.1M$121.9M$107.9M$122.1M—
BYOOVIZ$8.9M$8.6M$7.0M$7.9M$0.0—
FAMPYRA$300.0K$0.0$0.0$1.1M$0.0—
FLIXABI$13.1M$14.3M$15.3M$9.9M$10.5M—
FUMADERM And ADUHELM$1.7M$400.0K$0.0$0.0$0.0—
IMRALDI$47.4M$46.7M$52.6M$43.5M$49.6M—
PLEGRIDY$59.5M$69.0M$58.4M$63.2M$64.3M—
QALSODY$15.5M$20.0M$26.4M$25.0M$32.5M—
SKYCLARYS$123.9M$130.3M$132.9M$133.4M$150.7M—
SPINRAZA$423.9M$392.7M$374.0M$356.2M$374.0M—
TECFIDERA$206.1M$193.6M$168.2M$111.8M$109.5M—
TOFIDENCE$100.0K$0.0$0.0$600.0K$0.0—
TYSABRI$381.5M$454.6M$431.8M$397.5M$441.5M—
VUMERITY$138.8M$212.3M$214.6M$181.1M$179.0M—
ZURZUVAE$27.7M$46.4M$55.3M$65.7M$55.4M—

Cost of sales, excluding amortization and impairment of acquired intangible assets

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
SPINRAZA$53.1M$53.1M$53.1M$53.1M——

Revenue

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Contract manufacturing, royalty and other revenue$183.2M$183.2M$183.2M$183.2M——
Other$29.4M$46.8M$55.3M$65.7M$55.4M—

Estimated additional payments upon achievement of development and commercial milestones

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Felzartamab—————$730.0M
Felzartamab And Izastobart/HIB210$640.0M$640.0M$640.0M$640.0M$640.0M—

After Second GAZYVA Threshold Date

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
GAZYVA35.0%35.0%35.0%35.0%35.0%—
LUNSUMIO35.0%35.0%35.0%—35.0%—
RITUXAN35.0%35.0%35.0%35.0%35.0%—

Collaborative Arrangement, Pre-Tax Profit Share Threshold

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
GAZYVA———$50.0M——
LUNSUMIO———$50.0M——

Limit of gross sale of GAZYVA to be achieved in any 12 months under option two

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
GAZYVA$125.0M$125.0M$125.0M$125.0M——

Expense incurred by the collaboration

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
LEQEMBI$177.7M$171.2M$176.8M$175.9M$169.5M—

Expense reflected within statements of income

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
LEQEMBI$88.8M$85.7M$88.3M$88.0M$84.7M—

Total development expense incurred by the collaboration related to the advancement of LEQEMBI

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
LEQEMBI$52.6M$54.9M$70.9M$74.7M$69.3M—

Co promotion operating profit threshold to determine share of co promotion operating profit prior to amendment

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
LUNSUMIO$50.0M$50.0M$50.0M—$50.0M—

Percentage of future development costs

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
LUNSUMIO7.5%7.5%7.5%7.5%——

Sales trigger gross sales threshold

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
LUNSUMIO$350.0M———$350.0M—

Threshold of Gross Sales Of To Be Achieved In Preceding Twelve Consecutive Months Under Option One

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
LUNSUMIO$500.0M———$500.0M—

After Second Threshold Date

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
RITUXAN30.0%30.0%30.0%30.0%30.0%—

Percentage of co promotion operating profits first fifty million

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
RITUXAN30.0%30.0%30.0%30.0%30.0%—

Until Second GAZYVA Threshold Date

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
RITUXAN37.5%37.5%37.5%37.5%37.5%—

Percentage of royalties as per collaboration

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
SPINRAZA3.8%3.8%3.8%3.8%——
VUMERITY4.0%4.0%4.0%4.0%——

Geographic

Other long-lived assets

SegmentQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Asia———$5.9M——
Europe———$2.1B——
Segment Geographical Groups Of Countries Group Other———$12.2M——

Business Segments

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Net income attributable to Biogen Inc.$240.5M$634.8M$466.5M$0.0$319.5M—
Other long-lived assets———$3.3B——
Other segment expense$353.9M$376.3M$360.8M$418.5M$317.0M—
Research and development:$178.5M$168.2M$167.1M$179.1M$172.8M—
SG&A$608.4M$608.4M$608.4M$608.4M——
Total Revenue$2.4B$2.6B$2.5B$2.3B$2.5B—