Earnings summaries and quarterly performance for BIOGEN.
Executive leadership at BIOGEN.
Christopher Viehbacher
Detailed
Chief Executive Officer
CEO
NM
Nicole Murphy
Detailed
Head of Pharmaceutical Operations and Technology
PS
Priya Singhal
Detailed
Head of Development
RK
Robin Kramer
Detailed
Chief Financial Officer
SG
Sean Godbout
Detailed
Chief Accounting Officer & Global Corporate Controller
SA
Susan Alexander
Detailed
Chief Legal Officer
Board of directors at BIOGEN.
CD
Caroline Dorsa
Detailed
Chair of the Board
ER
Eric Rowinsky
Detailed
Director
JM
Jesus Mantas
Detailed
Director
LM
Lloyd Minor
Detailed
Director
MF
Maria Freire
Detailed
Director
MP
Mene Pangalos
Detailed
Director
MP
Monish Patolawala
Detailed
Director
SS
Stephen Sherwin
Detailed
Director
SL
Susan Langer
Detailed
Director
WH
William Hawkins
Detailed
Director
Research analysts who have asked questions during BIOGEN earnings calls.
Brian Abrahams
RBC Capital Markets
5 questions for BIIB
Also covers: ACAD, ATAI, BCRX +17 more
Michael Yee
Jefferies
5 questions for BIIB
Also covers: ABBV, ALLO, AMGN +18 more
Salveen Richter
Goldman Sachs
5 questions for BIIB
Also covers: ACAD, AGIO, ALLO +20 more
Paul Matteis
Stifel
4 questions for BIIB
Also covers: ABOS, ACAD, ALKS +11 more
PN
Philip Nadeau
TD Cowen
4 questions for BIIB
Also covers: ADVM, APLS, ATRA +13 more
UR
Umer Raffat
Evercore ISI
4 questions for BIIB
Also covers: ALKS, AMGN, BHC +15 more
ES
Evan Seigerman
BMO Capital Markets
3 questions for BIIB
Also covers: ABBV, AMGN, ARVN +15 more
Jay Olson
Oppenheimer & Co. Inc.
3 questions for BIIB
Also covers: ACAD, AMGN, BNTX +22 more
CS
Christopher Schott
JPMorgan Chase & Co.
2 questions for BIIB
Also covers: ABBV, AMGN, AMRX +15 more
David Amsellem
Piper Sandler Companies
2 questions for BIIB
Also covers: ABBV, ALKS, AMGN +27 more
ES
Eric Schmidt
Cantor Fitzgerald & Co.
2 questions for BIIB
Also covers: ADCT, AGIO, BLUE +9 more
MG
Marc Goodman
Leerink Partners
2 questions for BIIB
Also covers: ACAD, ALDX, ALKS +14 more
Terence Flynn
Morgan Stanley
2 questions for BIIB
Also covers: ABBV, AMGN, ARVN +17 more
Geoffrey Meacham
Citi
1 question for BIIB
Also covers: ABBV, BMY, GILD +6 more
Michael DiFiore
Evercore ISI
1 question for BIIB
Also covers: AMGN, AMLX, ELAN +8 more
MM
Miles Minter
William Blair
1 question for BIIB
MM
Myles Minter
William Blair & Company
1 question for BIIB
Also covers: ALEC, ARCT, ARGX +11 more
TA
Tim Anderson
Bank of America
1 question for BIIB
Also covers: ABBV, AMLX, BMY +4 more
TA
Timothy Anderson
BofA Securities
1 question for BIIB
Also covers: ABBV, AMGN, AZN +10 more
Recent press releases and 8-K filings for BIIB.
Biogen reports Q4 2025 results
BIIB
Earnings
Guidance Update
M&A
- Biogen delivered Q4 2025 non-GAAP EPS of $1.99 and full-year 2025 EPS of $15.28, on $9.9 billion in revenue, up 2% year-over-year; growth products generated $800 million in Q4 (+6%) and $3.3 billion for the year (+9%).
- Key brands showed robust demand: Leqembi in-market sales of $134 million in Q4 (+10% sequential; +54% YoY), Skyclarys revenue of $133 million (+30% YoY), Spinraza at $356 million, and Vumerity at $181 million in the quarter.
- 2026 milestones include FDA decisions for Leqembi Iqlik initiation (PDUFA May 24) and Spinraza high-dose regimen (PDUFA April), Phase III litifilimab SLE readout by year-end, plus felzartamab AMR and pre-POC (BIIB122, BIIB080) data mid-year.
- Strengthened financial position with $2.1 billion free cash flow, $4.2 billion cash and marketable securities, $2 billion net debt; recorded $222 million of IPR&D charges tied to Alcyone acquisition and BD deals with Vanqua Bio and Dayra Therapeutics.
8 hours ago
Biogen reports Q4 and full-year 2025 results
BIIB
Earnings
Guidance Update
- Biogen delivered Q4 non-GAAP EPS of $1.99 and full-year non-GAAP EPS of $15.28, with total revenue of $9.9 billion, up 2% year-over-year.
- Growth products generated $800 million in Q4 (up 6% y/y) and $3.3 billion for FY2025 (up 9% y/y), including Leqembi in-market sales of $134 million (+54% y/y) and Skyclarys revenue of $133 million (+30% y/y) in Q4.
- Strong cash flow supported a $2.1 billion free cash flow in FY2025, leaving $4.2 billion in cash and marketable securities and $2 billion of net debt.
- Key pipeline milestones include a May 24 PDUFA for Leqembi subcutaneous induction , an April PDUFA for Spinraza high-dose in the US , and phase 3 readouts for litifilimab in SLE by end-2026 and felzartamab in AMR over the next 18 months.
- 2026 guidance targets non-GAAP EPS of $15.25–16.25 and a mid-single-digit percentage decline in total revenue, with core operating expenses expected to remain roughly flat versus 2025.
9 hours ago
Biogen reports Q4 2025 results
BIIB
Earnings
M&A
- Biogen delivered Q4 non-GAAP EPS of $1.99 and full-year non-GAAP EPS of $15.28, with FY revenue of $9.9 billion (+2% vs. 2024) and growth products generating $3.3 billion (+9%) for the year.
- In Q4, Leqembi in-market sales were $134 million (+10% Q/Q, +54% Y/Y), Skyclarys revenue reached $133 million (+30% Y/Y), and Spinraza sales totaled $356 million.
- The late-stage pipeline now includes 10 Phase 3 programs, with key readouts expected end-2026 for Litifilimab in SLE, mid-2026 for felzartamab in AMR, and a PDUFA date of May 24, 2026 for Leqembi iClick initiation.
- Strong cash generation with $2.1 billion free cash flow and $4.2 billion in cash and marketable securities at year-end; completed acquisition of Alcyone Therapeutics and collaborations with Vanqua and Deira.
9 hours ago
Biogen reports Q4 2025 results and provides 2026 guidance
BIIB
Earnings
Guidance Update
- Fourth quarter 2025 total revenue of $2.3 billion, GAAP diluted EPS of $(0.33) and Non-GAAP diluted EPS of $1.99; full year 2025 total revenue of $9.9 billion, GAAP diluted EPS $8.79 and Non-GAAP diluted EPS $15.28
- Growth products revenue increased 6% year-over-year in Q4, led by LEQEMBI global in-market sales of ~$134 million (up 54% yoy) with U.S. sales of ~$78 million
- FDA Priority Review granted for LEQEMBI IQLIK subcutaneous initiation (PDUFA date May 24, 2026); Breakthrough Therapy Designation for litifilimab in cutaneous lupus, with Phase 3 systemic lupus readouts expected in Q4 2026
- 2026 guidance: Non-GAAP diluted EPS of $15.25 to $16.25; total revenue expected to decline mid-single digit versus 2025
12 hours ago
Biogen reports Q4 2025 results
BIIB
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Q4 total revenue was $2.28 B, down 7% YoY, with GAAP diluted EPS of ($0.33) and Non-GAAP diluted EPS of $1.99.
- Growth products generated $808 M in Q4, up 6% YoY , and $3.3 B for FY 2025, up 19% YoY.
- FY 2026 Non-GAAP diluted EPS guidance is $15.25–$16.25.
- Generated $0.5 B of free cash flow in Q4 and $2.1 B for FY 2025, ending with $4.2 B in cash and marketable securities and $2.0 B net debt.
- Key pipeline milestone: U.S. PDUFA date of May 24, 2026 for subcutaneous LEQEMBI initiation, alongside advancement of multiple late-stage programs.
13 hours ago
Biogen’s litifilimab receives FDA Breakthrough Therapy designation for cutaneous lupus erythematosus
BIIB
Product Launch
- Biogen’s investigational antibody litifilimab (BIIB059) received FDA Breakthrough Therapy Designation for cutaneous lupus erythematosus, a chronic autoimmune skin disease with no approved targeted treatments.
- The designation is based on Phase 2 LILAC data showing litifilimab reduced CLE skin disease activity versus placebo and is intended to expedite its development and review.
- Litifilimab is a first-in-class humanized IgG1 monoclonal antibody targeting BDCA2 on plasmacytoid dendritic cells to inhibit pro-inflammatory cytokine production.
- Biogen is advancing the AMETHYST Phase 3 study of litifilimab, with a pivotal data readout expected in 2027.
Jan 28, 2026, 12:30 PM
Biogen forecasts Q4 2025 IPR&D charges impacting EPS
BIIB
Guidance Update
Accounting Changes
- Biogen estimates approximately $222 million of acquired in-process R&D, upfront and milestone expense in Q4 2025.
- This charge is expected to reduce GAAP and non-GAAP net income per diluted share by about $1.26 for the quarter.
- The company began separately presenting IPR&D, upfront and milestone expense as a distinct line item starting Q1 2025.
- Results for the quarter ended December 31, 2025, remain preliminary and subject to adjustment upon completion of closing procedures.
Jan 13, 2026, 10:38 PM
Biogen outlines transformation and growth strategy at JPM 2026
BIIB
Product Launch
New Projects/Investments
- Biogen delivered $1 billion gross / $800 million net savings under its Fit for Growth program, implemented a ~15% headcount reduction, and cut Non-GAAP R&D spend by 26% over the first nine months of 2025 vs. 2023.
- The late-stage pipeline now comprises 10 Phase 3 programs, including high-conviction registrational assets in systemic lupus erythematosus, nephrology, and Dravet syndrome, alongside an early-stage portfolio targeting Alzheimer’s, Parkinson’s, MS, and rare diseases.
- Marketed growth products achieved ~$1.9 billion in trailing twelve-month sales, with 53% revenue growth in the first three quarters of 2025 vs. 2024; key YTD year-over-year gains include LEQEMBI ~200%, QALSODY ~200%, and ZURZUVAE ~160%.
- 2026 marks the start of a multi-year registrational data flow, with a potential FDA decision on LEQEMBI subcutaneous autoinjector in Q2–Q3 2026, and topline readouts for both litifilimab SLE studies by year-end 2026.
Jan 12, 2026, 9:30 PM
Biogen outlines cost cuts and pipeline expansion at JPMorgan Healthcare Conference
BIIB
Product Launch
Layoffs
New Projects/Investments
- Biogen achieved $1 billion in gross and $800 million in net cost savings and reduced headcount by 15%, restructuring from an MS-centric model to a broader therapeutic focus.
- The company launched four new first-in-disease therapies (Alzheimer’s, Friedreich’s ataxia, postpartum depression, ALS) and now fields 10 Phase III programs with five potential new products, while cutting R&D spend by 26% vs. three years ago.
- Core growth drivers (Leqembi, Skyclarys, Zurzuvae, Qalsody, Vumerity, Spinraza) collectively grew 53% or $1.9 billion, highlighted by EU approval of high-dose Spinraza and double-digit growth for Vumerity with exclusivity into the next decade.
- Key 2026 catalysts include Phase III readouts of Litifilimab (SLE this year, CLE in 2027), Zorevunersen, Felzartamab and AMR, plus mid-year data for tau ASO BIIB080 and LRRK2 inhibitor BIIB122 in Parkinson’s.
Jan 12, 2026, 9:30 PM
Biogen outlines 2026 growth strategy and pipeline at JPMorgan Healthcare Conference
BIIB
Product Launch
New Projects/Investments
Revenue Acceleration/Inflection
- Executed a cost-structure overhaul with $1 billion gross and $800 million net savings, 15% headcount reduction, and 26% lower R&D spend while advancing to 10 Phase III programs targeting five new products.
- Diversified growth portfolio: four first-in-disease launches in Alzheimer’s, Friedreich’s ataxia, postpartum depression and ALS, alongside core drivers—Leqembi, Skyclarys, Zurzuvae, Qalsody, Vumerity and Spinraza—that grew 53% ($1.9 billion) to offset MS declines.
- Robust late-stage pipeline with 10 Phase III studies, including 2026 readouts for Litifilimab, Zorevunersen and Felzartamab, and longer-term assets BIIB080 (tau ASO) and BIIB122 (LRRK2) poised to sustain growth into 2028–2030.
- Strategic shift to external R&D collaborations in immunology to rebuild early-stage pipeline, and SMA franchise optimization via EU approval of high-dose Spinraza, next-gen BIIB115 and implantable delivery device.
Jan 12, 2026, 9:30 PM
Quarterly earnings call transcripts for BIOGEN.
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