What is Biogen's R&D?

Biogen (BIIB) reported R&D of $539M in Q1 2026.

How has Biogen's R&D changed year-over-year?

Biogen's R&D increased by 24.2% year-over-year, from $434.1M to $539M.

What is the long-term trend for Biogen's R&D?

Over 4 years (2021 to 2025), Biogen's R&D has grown at a -8.2% compound annual growth rate (CAGR), from $2.5B to $1.78B.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Biogen BIIB R&D

R&D at other companies

Eli LillyLLY

$3.51B+28.4%

Rogers CorporationROG

$6.7M-5.6%

TG TherapeuticsTGTX

$48.4M+4.4%

Acadia PharmaceuticalsACAD

$76.87M-1.8%

AnaptysBio, Inc.ANAB

$33.99M-17.5%

Syndax PharmaceuticalsSNDX

$58.85M-4.5%

Segments

By segment

See full

Reportable Segment$172.8M-3.2%

Other financials

Income statement

See full

Revenue$2.5B+1.9%

Gross profit$1.8B+0.8%

Operating income$610.7M—

Net income$319.5M+32.8%

EPS (diluted)$2.15+31.1%

Balance sheet

See full

Cash & equivalents$3.4B+30.2%

Total debt$6.6B+34.7%

Total equity$18.7B+9.9%

Total assets$29.5B+5.2%

Cash flow

See full

Operating cash flow$645.5M+149%

CapEx$51.2M+38.0%

Free cash flow$594.3M+167%

Valuation

See full

Market cap$31.89B+72.3%

Enterprise value$35.07B+57.0%

P/E22.5×+10.4×

P/S3.2×+1.4×

Profitability

See full

Gross margin75.5%-0.1pp

Operating margin22.9%—

Net margin14.3%-0.8pp

FCF margin24.4%-0.4pp

Returns & leverage

See full

Return on equity8%-1.2pp

Debt / equity0.4×+0.1×

Current ratio3.1×+1.6×

Where this comes from

Reported directly by Biogen in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost.

The official record: Biogen’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

Ask your AI about Biogen's r&d.

Connect your AI assistant and compare it to peers, right in your chat.

Connect your AI

Claude

Questions, answered.

What is Biogen's R&D?: Biogen (BIIB) reported R&D of $539M in Q1 2026.
How has Biogen's R&D changed year-over-year?: Biogen's R&D increased by 24.2% year-over-year, from $434.1M to $539M.
What is the long-term trend for Biogen's R&D?: Over 4 years (2021 to 2025), Biogen's R&D has grown at a -8.2% compound annual growth rate (CAGR), from $2.5B to $1.78B.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.