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Biogen's Revenue Drops 3.3%, EPS Plummets 61.8% Amidst Competition and Reata Acquisition Costs

BIIB10-KFiling Date: 2/14/2024
Biogen Inc.
Description

What this story covers

Biogen's 2023 revenue fell 3.3%, with EPS down 61.8%, hit by generic competition and high Reata acquisition costs. R&D spending increased, but future cost savings are planned. The company faces intense competition and regulatory risks, particularly from the Inflation Reduction Act.

Story snapshot

CompanyBiogen Inc.
TickerBIIB
VariantStandard detailed
Duration32:13
Filing type10-K
PeriodAnnual 2023
IndustryHealthcare & Pharmaceuticals
Accession0000875045-24-000009

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