BIOGEN INC
For the period ended Mar 31, 2024. Filed Apr 24, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 24, 2024
BIIB$253.25-0.6%Stored close · as of Nov 10, 2026
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Item 1. Financial Statements (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(unaudited, in millions, except per share amounts)
| For the Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Revenue: | ||
| Product, net | $1,711.9 | $1,763.3 |
| Revenue from anti-CD20 therapeutic programs | 394.0 | 399.5 |
| Contract manufacturing, royalty and other revenue | 184.6 | 300.2 |
| Total revenue | 2,290.5 | 2,463.0 |
| Cost and expense: | ||
| Cost of sales, excluding amortization and impairment of acquired intangible assets | 542.2 | 662.8 |
| Research and development | 452.9 | 570.6 |
| Selling, general and administrative | 581.5 | 605.0 |
| Amortization and impairment of acquired intangible assets | 78.3 | 50.2 |
| Collaboration profit sharing/(loss reimbursement) | 65.6 | 57.1 |
| Restructuring charges | 11.5 | 9.6 |
| Other (income) expense, net | 93.7 | 69.4 |
| Total cost and expense | 1,825.7 | 2,024.7 |
| Income before income tax (benefit) expense | 464.8 | 438.3 |
| Income tax (benefit) expense | 71.4 | 50.7 |
| Net income | 393.4 | 387.6 |
| Net income (loss) attributable to noncontrolling interests, net of tax | — | (0.3) |
| Net income attributable to Biogen Inc. | $393.4 | $387.9 |
| Net income per share: | ||
| Basic earnings per share attributable to Biogen Inc. | $2.71 | $2.69 |
| Diluted earnings per share attributable to Biogen Inc. | $2.70 | $2.67 |
| Weighted-average shares used in calculating: | ||
| Basic earnings per share attributable to Biogen Inc. | 145.2 | 144.4 |
| Diluted earnings per share attributable to Biogen Inc. | 145.9 | 145.2 |
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