Matej Mikulic
Research expert covering health, pharma & medtech
Biogen - Statistics & Facts
Today, Biogen Inc. is a Massachusetts-based multinational biotech company which generated around 9.8 billion U.S. dollars of revenue in 2023. Originally, the enterprise was established in 1978 in Geneva, Switzerland, under the name Biotechnology Geneva (abbreviated Biogen). In 1993, Biogen merged with Californian company IDEC Pharmaceuticals into a new entity named Biogen Idec. After several restructuring measures and M&A deals, the company’s name changed back to Biogen. With the construction of a modern facility in Switzerland in 2020, Biogen returned to its Swiss roots.
Focused on neurological diseases
Biogen is mostly focused on treatments and therapies for neurological diseases. In 2023, around half of its revenues were generated by products for the treatment of multiple sclerosis. Tecfidera and Tysabri are among the company’s best-selling drugs in this therapeutic area. Spinal muscular atrophy is another core area, represented by 1.7 billion-dollar drug Spinraza. Regarding new products, Alzheimer’s disease drug Aduhelm (aducanumab) is among the company’s biggest potentials, but also very controversial due to high costs, questioned efficacy, and potential adverse effects. It entered the U.S. market at the end of 2023. Additionally, Biogen produces biosimilars of blockbuster drugs like Humira and Enbrel.Leading among pure play biotechs
Since the forming of Biogen Idec, the company has constantly been among the largest pure play biotech drug companies worldwide. These are companies who derive their revenues totally or overwhelmingly from complex biotech products (large molecule), in contrast to classic pharmaceutical products (small molecule). Currently, Biogen is still among the global top 10 biotech companies but shooting stars like COVID-19 vaccine developer Moderna or BioNTech passed by in the last two years. Although Biogen reported decreasing revenues over the last four years, it is among the most profitable U.S. biotech drug companies.
