Financial Report: Biogen

Biogen

4Q Revenues: $2.9 billion (+1%)

4Q Earnings: $649 million (-22%)

FY Revenues: $11.4 billion (+6%)

FY Earnings: $3.7 billion (+4%)

Comments: Growth was driven by TECFIDERA revenues ($4.0 billion, up 9%); TYSABRI ($2.0 billion, up 4%); ELOCTATE ($513 million, up 61%); ALPROLIX ($334 million, up 42%); as well as BENEPALI, an etanercept biosimilar commercialized in Europe. Revenues were partially offset by a decrease in worldwide interferon sales. Earnings were negatively impacted by $339 million related to the settlement and license agreement with Forward Pharma A/S. R&D expenses were flat at $2.0 billion. Restructuring charges twelve months ended December 31, 2016, include charges of $17.7 million, in connection with additional cost savings measures intended to realign the company’s organizational structure in anticipation of the changes in roles and workforce resulting from the decision to spin off its hemophilia business.