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Stock research / United States / BIIB · Biological Products, (No Diagnostic Substances) · Nasdaq

Biogen Inc. (BIIB)

Biogen is a global biopharmaceutical company that discovers, develops and delivers therapies for serious and complex diseases, working mainly in neurology, specialised immunology and rare diseases. Its own marketed products are VUMERITY, TYSABRI, TECFIDERA, AVONEX and PLEGRIDY for multiple sclerosis; SPINRAZA for SMA; SKYCLARYS for FA; and QALSODY for ALS. The filing notes that the company introduced the first approved treatment for SMA, launched the first approved treatment targeting a genetic cause of ALS, and markets the first and only drug approved in the U.S., the E.U. and certain international markets for FA in adults and adolescents aged 16 years and older. Product sales of TYSABRI and of SPINRAZA each accounted for more than 10.0 percent of total revenue in 2025, 2024 and 2023. There were about 7,500 employees worldwide at the end of 2025, about 4,200 of them in the United States.

Biogen Inc.

Biogen is a global biopharmaceutical company that discovers, develops and delivers therapies for serious and complex diseases, working mainly in neurology, specialised immunology and rare diseases. Its own marketed products are VUMERITY, TYSABRI, TECFIDERA, AVONEX and PLEGRIDY for multiple sclerosis; SPINRAZA for SMA; SKYCLARYS for FA; and QALSODY for ALS. The filing notes that the company introduced the first approved treatment for SMA, launched the first approved treatment targeting a genetic cause of ALS, and markets the first and only drug approved in the U.S., the E.U. and certain international markets for FA in adults and adolescents aged 16 years and older. Product sales of TYSABRI and of SPINRAZA each accounted for more than 10.0 percent of total revenue in 2025, 2024 and 2023. There were about 7,500 employees worldwide at the end of 2025, about 4,200 of them in the United States.

Multiple sclerosis and the neurology line

The filing describes a broad portfolio of medicines to treat MS, covering TECFIDERA, VUMERITY, AVONEX, PLEGRIDY and TYSABRI. The collaboration and licence agreement for global commercialisation rights to FAMPYRA was terminated with effect from 1 January 2025. In Alzheimer's disease the company works with Eisai on LEQEMBI and takes a 50.0 percent share of that product's revenue, net, and cost of sales, including royalties. In neuropsychiatry it works with Supernus on ZURZUVAE for PPD in adults following childbirth, which the filing says is among the most common complications during and after pregnancy.

Rare disease

Rare disease covers SPINRAZA for SMA, QALSODY for ALS, which became commercially available in the E.U. during the second quarter of 2024, and SKYCLARYS for FA, which became commercially available there during the first quarter of 2024. In November 2025 the company acquired Alcyone Therapeutics, a clinical-stage business built around ThecaFlex DRx, an implantable subcutaneous port and catheter device being investigated for intrathecal delivery of antisense oligonucleotides including SPINRAZA, as an alternative to repeated lumbar punctures. Consideration was about $85.0 million, a $50.0 million payment on closing plus $35.0 million paid on FDA approval of a supplemental application in January 2026, with up to a further $75.0 million in development and regulatory milestones.

The Genentech and Roche relationships

The company holds certain business and financial rights in a set of anti-CD20 therapies developed with Genentech, a wholly owned member of the Roche Group: RITUXAN and RITUXAN HYCELA for non-Hodgkin's lymphoma and chronic lymphocytic leukemia, GAZYVA for chronic lymphocytic leukemia, follicular lymphoma and, after approval in October 2025, lupus nephritis, OCREVUS for primary progressive and relapsing multiple sclerosis, LUNSUMIO for relapsed or refractory follicular lymphoma, and COLUMVI, a bispecific antibody for non-Hodgkin's lymphoma. There is also an option to add other potential anti-CD20 therapies. All of these products are marketed and distributed by the Roche Group and its sublicensees, not by Biogen.

Biosimilars

The company commercialises biosimilars of advanced biologics under its agreement with Samsung Bioepis in certain international markets: BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; and FLIXABI, an infliximab biosimilar referencing REMICADE. It distributes these in certain European countries and holds an option to acquire exclusive distribution rights in China. During 2025 it completed the sale of its rights to two others, TOFIDENCE and BYOOVIZ.

Selling and making

Marketed products are promoted worldwide, including in the United States, Europe, Asia, the Middle East and Latin America, primarily through the company's own sales forces and marketing groups, with third-party partners used in some countries as it expands into new geographies. Selling effort goes to health care providers in private practice or at major medical centres, through sales representatives calling in person and virtually, advertisements, professional symposia, direct mail, digital and point of care marketing and public relations. In the United States the products are distributed principally through wholesale and specialty distributors and specialty pharmacies, while outside it the arrangement varies by country, in some cases through third-party distribution partners who take on most of the marketing and distribution. Manufacturing runs from Research Triangle Park in North Carolina, which makes AVONEX and PLEGRIDY and also holds a drug product facility with a parenteral plant and an oral solid dose plant, and from a large-scale biologics facility in Solothurn, Switzerland, which is operational and approved for LEQEMBI and TYSABRI. The company also uses strategic contract manufacturing partners.

From Biogen's annual report on Form 10-K for the year ended 31 December 2025. The filing

Compare with another name What $10,000 in Biogen became

Latest results

Latest quarterQ3 FY2026ended 30 September 2026 · 10-Q filed 28 October 2026
Revenue
$2.8 billion
+10.6% on the year · +2.5% on the quarter
Q4 FY2024Q3 FY2026
Net income
-$21 million
Q4 FY2024Q3 FY2026
Diluted EPS
-$0.14
Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

Read the Q3 FY2026 results →the 10-Q on EDGAR ↗
Last full yearFY2025ended 31 December 2025 · 10-K filed 6 February 2026
Revenue
$9.9 billion
+2.2% on the year
FY2018FY2025
Net income
$1.3 billion
-20.8% on the year
FY2018FY2025
Diluted EPS
$8.79
-21.4% on the year
FY2018FY2025

this yearthe year beforeHover a bar for its figure.

The years before, in wordsBiogen (BIIB) reported revenue of $9.9 billion for fiscal 2025, the year ended 31 December 2025, up 2.2% on the year before. Net income was $1.3 billion and diluted earnings per share $8.79. Revenue was $9.7 billion in fiscal 2024, $9.8 billion in fiscal 2023, $10.2 billion in fiscal 2022 and $11.0 billion in fiscal 2021. Net income in the same years was $1.6 billion, $1.2 billion, $3.0 billion and $1.6 billion. Over the twelve months to 30 September 2026, Biogen reported revenue of $10.3 billion and net income of $348 million. Revenue fell 6.0% a year, compounded, over the five years to fiscal 2025. Biogen had 148 million shares outstanding at the latest filed count. At 30 September 2026 it carried $7.7 billion of debt and $1.3 billion of cash. At the close of 6 November 2026 the market cap of Biogen was $36.7 billion, 106.2 times its earnings over the last twelve months.
Read the FY2025 results →the 10-K on EDGAR ↗

Ratios

From the filings

ROE1.8%
ROCE1.7%
Operating margin4.3%
Net margin3.4%
FCF margin20.1%
Interest cover1.5x
Debt to equity0.41x
Cash conversion6.47x
Share count, last 12 months0.8%
Sales CAGR, 3 years-0.9%
Profit CAGR, 3 years-24.9%
EPS, TTM$2.34

At the close of 6 November 2026

Price$248.50
Market cap$36.7 billion
Stock P/E106.2x
Price to book1.9x
EV / EBITDA32.5x
Dividend yieldn/a
Market cap / sales3.6x
52-week high$254.57
52-week low$155.51
Price, 1 year58.5%
Price CAGR, 3 years0.4%
Price CAGR, 5 years-2.3%

29 ready-made ratios, from FCF yield to net debt to EBITDA, wait on the Formulas page, each with what it tells you. Browse and add them →

Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowing lines of Biogen Inc.'s balance sheet, added together, finance leases inside them only where the company puts them there; operating leases are a separate line. Nothing here is a valuation or a view.
BIIBgreeksoup.ai
Daily prices to 6 November 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

Quarterly results

Q4 FY2021 *Q1 FY2022 †Q2 FY2022Q3 FY2022Q4 FY2022 * †Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024 †Q2 FY2024 †Q3 FY2024 †Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue2,7342,5322,5892,5082,5442,4632,4562,5302,3862,2902,4652,4662,4552,4312,6462,5352,2792,4782,7362,804
Cost of revenue660754484470571663593660618542546639584629605674496661777748
Gross profit2,0741,7782,1052,0391,9731,8001,8631,8711,7681,7481,9191,8271,8711,8022,0401,8601,7841,8171,9592,056
Gross margin76%70%81%81%78%73%76%74%74%76%78%74%76%74%77%73%78%73%72%73%
R&D700552529549602571584736571445505516532434399436509539530574
SG&A788635573563633605548788608582554588680572584595682607710752
Operating income5876111,2701,371604438708-141292465699451292311744557-56.0378132-9.0
Operating margin21%24%49%55%24%18%29%-6%12%20%28%18%12%13%28%22%-2%15%5%-0%
Interest expense66.266.165.859.954.862.549.163.871.569.261.359.860.060.072.667.467.567.682.387.5
Pre-tax income4053471,2701,371604438708-141292465699451292311744557-56.0378132-9.0
Tax rate109%36%17%17%9%12%16%n/a15%15%16%14%9%23%15%16%n/a15%26%n/a
Net income3683041,0581,135550388592-68.1250393584388267240635466-48.932097.5-20.6
Net margin13%12%41%45%22%16%24%-3%10%17%24%16%11%10%24%18%-2%13%4%-1%
Diluted EPS$2.50$2.06$7.24$7.84$3.79$2.67$4.07-$0.47$1.71$2.70$4.00$2.66$1.83$1.64$4.33$3.17-$0.33$2.15$0.66-$0.14
Operating cash flow838162736661-17545548759212.55536269367612591611,272512646449641
Capital expenditure51.657.936.959.186.466.671.074.265.245.933.535.039.337.126.646.243.951.240.940.4
Free cash flow787104700602-261389416518-52.75075929017222221341,226468594408600
Buybacks0.00.05002500.0n/an/a0.0n/an/an/an/an/an/an/an/an/an/an/an/a
Shares outstanding147m146m145m144m144m145m145m145m145m146m146m146m146m147m147m147m147m148m148m148m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss)

FY2007FY2008 †FY2009FY2010 †FY2011FY2012 †FY2013FY2014 †FY2015 †FY2016 †FY2017FY2018 †FY2019 †FY2020 †FY2021 †FY2022 †FY2023 †FY2024 †FY2025TTM
Revenue3,1724,0984,3774,7165,0495,5166,9329,70310,76411,44912,27413,45314,37813,44510,98210,1739,8369,6769,89110,297
Cost of revenue3354023824004675458581,1711,2401,4791,6301,8161,9551,8052,1102,2782,5332,3102,4042,682
Gross profit2,8363,6963,9954,3164,5824,9716,0748,5329,5239,97010,64411,63712,42211,6398,8727,8957,3027,3667,4867,616
Gross margin89.4%90.2%91.3%91.5%90.8%90.1%87.6%87.9%88.5%87.1%86.7%86.5%86.4%86.6%80.8%77.6%74.2%76.1%75.7%74.0%
Research and development9251,0721,2831,2491,2201,3351,4441,8932,0131,9732,2542,5972,2813,9912,5012,2312,4451,9801,7792,152
Selling, general and administrative7769259111,0321,0561,2771,7122,2322,1131,9481,9362,1062,3752,5042,6742,4042,5502,4042,4342,752
Operating income7801,2141,2951,2491,7251,8562,5163,9724,8915,1505,3445,8897,0434,5502,8413,5921,2971,9061,556445
Operating margin24.6%29.6%29.6%26.5%34.2%33.6%36.3%40.9%45.4%45.0%43.5%43.8%49.0%33.8%25.9%35.3%13.2%19.7%15.7%4.3%
Interest expensen/a52.035.836.133.036.531.929.595.5260251201187222254247247250268305
Pre-tax income8521,1561,3331,2301,7111,8552,4813,9474,7674,9335,1295,9007,1265,0481,7453,5921,2971,9061,556445
Income tax2723663563314454716019901,1621,2372,4591,4261,15899252.563313527426497.6
Effective tax rate32.0%31.6%26.7%26.9%26.0%25.4%24.2%25.1%24.4%25.1%47.9%24.2%16.3%19.7%3.0%17.6%10.4%14.4%16.9%21.9%
Net income6387839701,0051,2341,3801,8622,9353,5473,7032,5394,4315,8884,0011,5563,0471,1611,6321,293348
Net margin20.1%19.1%22.2%21.3%24.5%25.0%26.9%30.2%33.0%32.3%20.7%32.9%41.0%29.8%14.2%29.9%11.8%16.9%13.1%3.4%
Diluted EPS$1.99$2.65$3.35$3.94$5.04$5.76$7.81$12.37$15.34$16.93$11.92$21.58$31.42$24.80$10.40$20.87$7.97$11.18$8.79$2.34
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow

FY2007FY2008 †FY2009FY2010 †FY2011FY2012 †FY2013FY2014 †FY2015 †FY2016 †FY2017FY2018 †FY2019 †FY2020 †FY2021 †FY2022 †FY2023 †FY2024 †FY2025TTM
Operating cash flow1,0191,5621,0751,6251,7281,8802,3452,9423,9194,5874,5516,1887,0794,2303,6401,3841,5472,8762,2052,247
Capital expenditure284276166173208255246288643616867771514425258240277154154176
Free cash flow7351,2869091,4521,5201,6252,0992,6543,2763,9713,6845,4176,5643,8053,3821,1441,2702,7222,0512,071
Free cash flow margin23.2%31.4%20.8%30.8%30.1%29.5%30.3%27.4%30.4%34.7%30.0%40.3%45.7%28.3%30.8%11.2%12.9%28.1%20.7%20.1%
Cash from investing-287-366-395345-1,650-950-1,605-1,543-4,554-2,485-2,963-2,046470-609-5641,577-4,101-799-1,371-5,502
Cash from financing-733-1,235-724-1,785-320-877-717-756783-1,053-2,380-4,472-5,860-5,273-2,086-1,747149-684-302721
Depreciation and amortisation3804624283563593665326886006831,081650465457488518495673780882
Share-based compensation123146161168113119136155161155128158182198239254264291291302
Buybacks2,9917397512,0784989854008875,0001,0001,3654,3535,8686,6791,8007500.00.0n/an/a
Diluted shares, weighted320m295m289m255m245m240m238m237m231m219m213m205m187m161m150m146m146m146m147m148m
Shares outstanding at period endn/a288m275m241m242m237m236m235m219m216m212m197m174m152m147m144m145m146m147m148m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet

FY2007FY2008 †FY2009FY2010 †FY2011FY2012 †FY2013FY2014 †FY2015 †FY2016 †FY2017FY2018 †FY2019 †FY2020 †FY2021 †FY2022 †FY2023 †FY2024 †FY2025TTM
Funded by
Shareholders' equity5,5545,8066,2225,3976,4256,9628,62010,8099,37312,14012,61313,04013,34310,70010,89613,39814,79916,71618,25718,922
Non-controlling interestn/a27.940.452.91.52.30.65.02.1-11.5-14.7-8.0-4.1-14.263.5-9.50.0n/an/an/a
Debtn/a1,0851,0801,2041,0641,1415965836,5226,5135,9355,9365,9557,4267,2736,2816,9386,2966,2877,692
Operating lease liabilitiesn/an/an/an/an/an/an/an/an/an/an/a0.0413402330333400334290109
Other liabilitiesn/a1,5601,2101,4401,5592,0262,6472,9193,6084,2365,1206,3217,5286,1055,3144,5524,7074,7034,6065,331
Total liabilities and equityn/a8,4798,5528,0929,05010,13011,86314,31719,50522,87723,65325,28927,23424,61923,87724,55426,84528,04929,44032,054
Owned
Fixed assetsn/a1,5951,6371,6421,5711,7421,7511,7662,1882,5023,1823,6013,2473,4123,4163,2993,3103,1813,0552,968
Goodwilln/a1,1391,1391,1461,1461,2011,2331,7602,6643,6694,6325,7065,7585,7625,7615,7496,2196,4796,4916,993
Intangible assetsn/a2,1611,8711,7731,6081,6324,4754,0294,0853,8083,8803,1203,5273,0842,2211,8508,3639,6919,17813,380
Investmentsn/a1,6111,8761,1912,5933,1721,2462,1114,8815,3985,1723,6892,9702,0512,4332,1790.00.01,2390.0
Cash and equivalents6606225827605155716031,2051,3082,3261,5741,2252,9141,3312,2613,4191,0502,3753,0081,304
Receivablesn/a4475516055856878241,2921,2271,4421,7871,9581,8801,9141,5491,7051,6641,4051,342n/a
Inventoryn/a2642942893274476598048931,0029039308041,0691,3521,3442,5272,4602,1682,224
Other assetsn/a6416026867056781,0731,3502,2592,7302,5225,0596,1335,9964,8835,0083,7122,4582,9565,186
Total assetsn/a8,4798,5528,0929,05010,13011,86314,31719,50522,87723,65325,28927,23424,61923,87724,55426,84528,04929,44032,054
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded-0.8%-6.0%-0.9%2.3%
Profit growth, compounded-9.6%-20.2%-24.9%-78.4%
Return on equity, average22.8%12.3%8.2%7.1%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Biogen's revenue in fiscal 2025?

Biogen (BIIB) reported revenue of $9.9 billion for fiscal 2025, the year ended 31 December 2025, up 2.2% on the year before.

How much did Biogen earn in fiscal 2025?

Net income was $1.3 billion for fiscal 2025, and diluted earnings per share $8.79.

What is Biogen's P/E ratio?

At the close of 6 November 2026, Biogen traded at 106.2 times its earnings over the twelve months to 30 September 2026.

What is Biogen's market cap?

The market cap of Biogen was $36.7 billion at the close of 6 November 2026.

How much debt does Biogen have?

At 30 September 2026 Biogen carried $7.7 billion of debt and $1.3 billion of cash.

Peers: Pharmaceutical Products

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TTM		Debt to equityDiv. yield
Amgen Inc. AMGN$249.0 billion26.7065.4%32.4%8.2%3.762.2%
Gilead Sciences, Inc. GILD$207.1 billionn/a-29.6%-7.6%6.5%2.011.9%
Moderna, Inc. MRNA$102.7 billionn/a-40.8%-116.0%13.1%0.52n/a
argenx SE ARGX *$57.4 billion47.4317.6%n/a89.9%0.00n/a
Biogen Inc. BIIB$36.7 billion106.201.8%4.3%2.3%0.41n/a
BioNTech SE BNTX *$22.0 billionn/a-5.9%-49.0%4.3%0.01n/a
Exelixis, Inc. EXEL$17.0 billion20.8348.3%40.2%9.1%0.00n/a
Neurocrine Biosciences Inc. NBIX$16.7 billion24.4318.1%24.0%38.0%0.00n/a
Halozyme Therapeutics, Inc. HALO$11.8 billion26.38n/a37.4%45.0%n/an/a
Bio-Techne Corp. TECH$11.4 billion66.787.9%19.6%0.9%0.090.4%
Kymera Therapeutics, Inc. KYMR$11.2 billionn/a-21.6%-396.0%133.8%0.00n/a
Repligen Corp. RGEN$9.8 billionn/a-0.6%2.3%13.8%0.27n/a
All 175 in Pharmaceutical Products
CompanyMarket capP/EROEOp. marginSales growth
TTM		Debt to equityDiv. yield
Eli Lilly & Co. LLY$1.27 trillion43.9868.5%n/a45.5%1.230.5%
Johnson & Johnson JNJ$665.0 billion41.8619.7%n/a7.8%0.551.9%
AbbVie Inc. ABBV$514.8 billion50.13n/a32.2%10.7%n/a2.4%
Merck & Co., Inc. MRK$361.8 billion151.295.5%n/a4.9%1.202.3%
Novartis AG NVS *$310.3 billion22.7530.3%n/a8.4%0.622.5%
AstraZeneca PLC AZN *$289.1 billion28.5121.0%23.4%8.6%0.571.7%
Amgen Inc. AMGN$249.0 billion26.7065.4%32.4%8.2%3.762.2%
Gilead Sciences, Inc. GILD$207.1 billionn/a-29.6%-7.6%6.5%2.011.9%
Abbott Laboratories ABT$190.5 billion41.039.2%13.8%10.0%0.612.3%
Novo Nordisk A/S NVO *$179.9 billion11.7152.8%41.3%6.4%0.674.4%
Pfizer Inc. PFE$167.5 billion41.984.5%n/a1.3%0.705.9%
Vertex Pharmaceuticals Inc. VRTX$138.7 billion35.1919.0%33.2%10.5%0.22n/a
Bristol-Myers Squibb Co. BMY$127.0 billion13.7839.5%22.6%4.2%1.834.1%
Sanofi SNY *$114.7 billion13.2210.9%n/a6.2%0.264.7%
Moderna, Inc. MRNA$102.7 billionn/a-40.8%-116.0%13.1%0.52n/a
GSK plc GSK *$101.0 billion13.5334.9%24.3%4.1%1.083.4%
Regeneron Pharmaceuticals, Inc. REGN$95.5 billion19.9714.4%28.8%18.6%0.060.4%
Takeda Pharmaceutical Company Limited TAK *$66.4 billionn/a-2.1%0.1%-1.7%0.663.1%
argenx SE ARGX *$57.4 billion47.4317.6%n/a89.9%0.00n/a
IDEXX Laboratories Inc. IDXX$53.3 billion45.5863.2%32.3%11.9%0.45n/a
Teva Pharmaceutical Industries Ltd. TEVA$49.7 billion99.096.4%8.3%2.7%2.10n/a
Royalty Pharma plc RPRX$37.5 billion44.276.9%57.1%11.4%0.881.4%
Biogen Inc. BIIB$36.7 billion106.201.8%4.3%2.3%0.41n/a
Genmab A/S GMAB *$34.5 billion34.8916.5%28.6%19.2%0.90n/a
Zoetis Inc. ZTS$32.4 billion13.5175.3%n/a1.0%2.742.6%
Roivant Sciences Ltd. ROIV$28.1 billionn/a-6.3%-7,914.8%-67.6%0.00n/a
Insmed Inc. INSM$25.1 billionn/a-83.4%-37.1%240.0%0.76n/a
United Therapeutics Corp. UTHR$23.8 billion21.2119.6%41.4%1.9%0.00n/a
Viatris Inc. VTRS$22.8 billionn/a-4.4%-0.0%4.3%0.972.4%
BioNTech SE BNTX *$22.0 billionn/a-5.9%-49.0%4.3%0.01n/a
Alnylam Pharmaceuticals, Inc. ALNY$20.9 billion8.1075.6%19.5%56.2%0.28n/a
Exelixis, Inc. EXEL$17.0 billion20.8348.3%40.2%9.1%0.00n/a
Neurocrine Biosciences Inc. NBIX$16.7 billion24.4318.1%24.0%38.0%0.00n/a
Jazz Pharmaceuticals plc JAZZ$15.1 billion79.824.9%9.0%13.5%1.33n/a
Kiniksa Pharmaceuticals International, plc KNSA$14.7 billion72.1615.4%13.8%58.2%0.00n/a
BridgeBio Pharma, Inc. BBIO$14.6 billionn/an/a-38.5%167.3%n/an/a
Elanco Animal Health Inc. ELAN$12.9 billionn/a-2.2%n/a12.1%0.52n/a
Dr. Reddy’s Laboratories Limited RDY *$12.4 billion27.5111.4%15.0%3.2%0.210.6%
Halozyme Therapeutics, Inc. HALO$11.8 billion26.38n/a37.4%45.0%n/an/a
Bio-Techne Corp. TECH$11.4 billion66.787.9%19.6%0.9%0.090.4%
Kymera Therapeutics, Inc. KYMR$11.2 billionn/a-21.6%-396.0%133.8%0.00n/a
Biomarin Pharmaceutical Inc. BMRN$10.8 billionn/a-0.3%3.1%18.1%0.67n/a
Repligen Corp. RGEN$9.8 billionn/a-0.6%2.3%13.8%0.27n/a
Madrigal Pharmaceuticals, Inc. MDGL$9.3 billionn/a-24.8%-10.7%92.8%0.54n/a
TG Therapeutics, Inc. TGTX$9.2 billion21.8273.1%17.1%76.1%1.23n/a
ImmunityBio, Inc. IBRX$9.1 billionn/an/a-151.9%192.9%n/an/a
Krystal Biotech, Inc. KRYS$8.9 billion40.8215.7%48.4%26.0%0.00n/a
Protagonist Therapeutics, Inc. PTGX$8.6 billion27.9731.5%58.6%163.7%0.00n/a
Arrowhead Pharmaceuticals, Inc. ARWR$8.2 billionn/a-68.7%-33.8%16.8%1.86n/a
Corcept Therapeutics Inc. CORT$8.0 billion57.2419.5%11.5%30.0%0.00n/a
Rhythm Pharmaceuticals, Inc. RYTM$7.8 billionn/a-220.3%-66.7%61.0%1.17n/a
Alkermes plc. ALKS$7.7 billionn/a-0.0%3.7%15.3%0.81n/a
Twist Bioscience Corp. TWST$7.6 billionn/a-30.7%-33.6%19.2%0.03n/a
Cytokinetics Inc. CYTK$7.5 billionn/an/a-625.2%29.9%n/an/a
Axsome Therapeutics, Inc. AXSM$7.0 billionn/a-149.2%-17.5%54.2%1.78n/a
CG Oncology, Inc. CGON$6.8 billionn/a-24.0%-4,293.5%183.6%0.00n/a
Lantheus Holdings, Inc. LNTH$6.6 billion24.7819.9%18.6%2.4%0.42n/a
Ionis Pharmaceuticals Inc. IONS$6.5 billionn/a-128.5%-68.0%-7.4%3.01n/a
Amneal Pharmaceuticals, Inc. AMRX$6.4 billion41.10476.5%14.6%9.3%80.86n/a
Ligand Pharmaceuticals Inc. LGND$6.1 billion136.655.4%9.5%1.0%1.17n/a
Mirum Pharmaceuticals, Inc. MIRM$6.1 billionn/an/a-133.6%42.2%n/an/a
Scholar Rock Holding Corp. SRRK$5.7 billionn/an/an/an/a0.77n/a
PTC Therapeutics, Inc. PTCT$5.5 billionn/an/a12.8%-35.1%n/an/a
Crispr Therapeutics AG CRSP$4.9 billionn/a-27.7%-2,114.8%-34.3%0.36n/a
Gossamer Bio, Inc. GOSS$4.8 billionn/an/a-311.7%32.4%n/an/a
Travere Therapeutics, Inc. TVTX$4.7 billionn/a-538.0%-20.5%49.4%26.72n/a
Adaptive Biotechnologies Corp. ADPT$4.5 billionn/a-40.0%-16.2%17.9%1.90n/a
Relay Therapeutics, Inc. RLAY$4.1 billionn/a-35.9%-3,094.9%23.9%0.00n/a
Liquidia Corp. LQDA$4.0 billion32.3971.0%37.4%2,233.6%n/an/a
Xenon Pharmaceuticals Inc. XENE$3.8 billionn/a-32.9%n/an/a0.00n/a
Iovance Biotherapeutics, Inc. IOVA$3.7 billionn/a-27.1%-60.8%51.3%0.00n/a
Acadia Pharmaceuticals Inc. ACAD$3.7 billion10.0626.1%10.2%14.8%0.00n/a
AbCellera Biologics Inc. ABCL$3.6 billionn/a-18.4%-340.2%101.3%0.00n/a
Organon & Co. OGN$3.6 billion18.2217.9%n/a-3.2%7.170.6%
Tango Therapeutics, Inc. TNGX$3.6 billionn/a-12.1%-253.4%121.5%0.00n/a
Viking Therapeutics, Inc. VKTX$3.4 billionn/a-106.6%n/an/a0.43n/a
Tarsus Pharmaceuticals, Inc. TARS$3.4 billionn/a-675.0%-102.0%86.3%0.700.0%
Supernus, Inc. INDV$3.3 billion7.88n/a40.6%16.4%n/an/a
DBV Technologies S.A. DBVT$3.3 billionn/a-139.5%-5,420.1%-31.5%0.00n/a
Viridian Therapeutics, Inc. VRDN$3.2 billionn/a-78.1%-1,781.4%-62.8%0.63n/a
Arcutis Biotherapeutics, Inc. ARQT$3.2 billion121.6412.3%6.9%60.0%0.45n/a
Denali Therapeutics Inc. DNLI$3.2 billionn/an/an/an/a0.00n/a
Supernus, Inc. SUPN$3.1 billion9.62n/a45.5%16.2%n/an/a
Bausch Health Companies Inc. BHC$3.1 billionn/an/a11.2%10.8%n/an/a
Ideaya Biosciences, Inc. IDYA$3.0 billionn/an/an/an/a0.00n/a
Adma Biologics, Inc. ADMA$2.8 billion16.5241.6%46.5%6.3%0.45n/a
Silence Therapeutics plc SLN$2.8 billionn/a-155.8%-11,106.8%-97.7%0.00n/a
Vericel Corp. VCEL$2.8 billion85.298.7%8.3%25.3%0.00n/a
Xeris Biopharma Holdings, Inc. XERS$2.8 billionn/a-13.3%12.7%38.4%3.89n/a
Beam Therapeutics Inc. BEAM$2.7 billionn/a-11.2%-267.7%163.3%0.11n/a
Xencor Inc. XNCR$2.7 billionn/a-21.0%-72.7%33.5%0.17n/a
Neogen Corp. NEOG$2.6 billionn/a-2.7%-0.8%-0.3%0.37n/a
Celldex Therapeutics, Inc. CLDX$2.3 billionn/a-47.6%-213,033.8%-94.0%0.00n/a
Arcus Biosciences, Inc. RCUS$2.3 billionn/a-126.5%-475.0%-58.3%0.28n/a
NewAmsterdam Pharma Co. N.V. NAMS$2.3 billionn/a-32.5%-900.1%-26.4%0.00n/a
Schrodinger, Inc. SDGR$2.2 billionn/a-19.6%-49.6%4.8%0.00n/a
Septerna, Inc. SEPN$2.2 billionn/a-6.3%-44.0%13,520.1%0.00n/a
Aurinia Pharmaceuticals Inc. AUPH$2.2 billion7.1947.8%48.6%21.0%0.00n/a
Perrigo Co. plc PRGO$2.2 billionn/a-72.5%-39.4%-4.5%1.357.3%
Immunome Inc. IMNM$2.1 billionn/a-48.4%n/an/a0.00n/a
Zymeworks Inc. ZYME$2.1 billionn/a-186.6%-419.0%-69.8%0.00n/a
Vir Biotechnology, Inc. VIR$2.1 billionn/a-20.6%-69.8%1,696.0%0.00n/a
Prestige Consumer Healthcare Inc. PBH$2.0 billion13.268.0%25.0%5.1%1.07n/a
Recursion Pharmaceuticals, Inc. RXRX$2.0 billionn/a-52.5%-725.4%56.2%0.01n/a
Trulieve Cannabis Corp. TRLV$2.0 billionn/a-57.8%-25.6%-9.1%0.37n/a
Biocryst Pharmaceuticals Inc. BCRX$2.0 billionn/an/a-30.1%60.3%n/an/a
Harmony Biosciences Holdings, Inc. HRMY$1.9 billion10.9616.7%22.2%19.8%0.14n/a
Zenas BioPharma, Inc. ZBIO$1.9 billionn/an/an/an/a1.41n/a
Sarepta Therapeutics, Inc. SRPT$1.9 billionn/a-7.5%-2.5%-18.9%0.56n/a
Maze Therapeutics, Inc. MAZE$1.9 billionn/an/an/an/a0.09n/a
Novavax Inc. NVAX$1.8 billionn/an/a-21.2%-61.3%n/an/a
Agios Pharmaceuticals, Inc. AGIO$1.8 billionn/a-38.1%-297.7%214.4%0.00n/a
Stoke Therapeutics, Inc. STOK$1.7 billionn/a-69.0%-913.1%-86.3%0.00n/a
Generate Biomedicines, Inc. GENB$1.7 billionn/an/an/an/a0.00n/a
Nurix Therapeutics, Inc. NRIX$1.7 billion6.6130.5%41.3%738.8%0.000.0%
Eton Pharmaceuticals, Inc. ETON$1.6 billion37.1357.4%28.8%100.6%0.27n/a
Immunocore Holdings plc IMCR$1.6 billionn/a-7.7%-6.8%13.1%0.940.0%
Precigen, Inc. PGEN$1.6 billion128.0629.1%21.4%n/a1.12n/a
Intellia Therapeutics, Inc. NTLA$1.6 billionn/a-69.5%-821.2%-8.1%0.12n/a
Ultragenyx Pharmaceutical Inc. RARE$1.6 billionn/an/a-64.0%15.8%n/an/a
uniQure N.V. QURE$1.5 billionn/a-79.0%-1,001.7%28.0%0.17n/a
ANI Pharmaceuticals Inc. ANIP$1.5 billion13.2818.3%16.0%25.9%0.95n/a
Pacira BioSciences, Inc. PCRX$1.5 billion39.175.3%4.8%3.7%0.41n/a
Ocular Therapeutix, Inc. OCUL$1.4 billionn/a-58.0%-603.0%-8.1%0.14n/a
Nuvation Bio Inc. NUVB$1.4 billionn/a-59.6%-61.2%654.2%1.25n/a
Korsana Biosciences, Inc. KRSA$1.4 billionn/an/an/an/a0.00n/a
Taysha Gene Therapies, Inc. TSHA$1.4 billionn/a-38.6%-2,792.3%-32.3%0.13n/a
Innoviva, Inc. INVA$1.4 billion9.6017.0%38.8%12.8%0.23n/a
Phibro Animal Health Corp. PAHC$1.3 billion13.1824.6%12.5%10.1%1.761.5%
Cronos Group Inc. CRON$1.3 billion21.295.4%3.4%55.8%0.00n/a
Avalyn Pharma Inc. AVLN$1.3 billionn/an/an/an/a0.04n/a
Opko Health, Inc. OPK$1.3 billionn/a-13.3%-25.5%-21.9%0.43n/a
Mannkind Corp. MNKD$1.3 billionn/an/a-2.9%31.7%n/an/a
Inhibrx Biosciences, Inc. INBX$1.2 billionn/an/an/an/an/an/a
Omeros Corp. OMER$1.2 billionn/an/an/an/an/an/a
Amphastar Pharmaceuticals, Inc. AMPH$1.2 billion13.0112.1%18.7%3.1%0.75n/a
UroGen Pharma Ltd. URGN$1.2 billionn/an/a-12.4%159.3%n/an/a
Rapport Therapeutics, Inc. RAPP$1.2 billionn/an/an/an/a0.00n/a
Janux Therapeutics, Inc. JANX$1.1 billionn/a-11.0%-599.3%132.9%0.00n/a
Harrow, Inc. HROW$1.0 billionn/a-244.9%-1.0%21.1%19.24n/a
Cryoport, Inc. CYRX$969 millionn/a-7.8%-20.0%1.1%0.39n/a
Odyssey Therapeutics, Inc. ODTX$921 millionn/an/an/an/a0.00n/a
Monte Rosa Therapeutics, Inc. GLUE$901 millionn/a-26.4%-214.5%-61.3%0.00n/a
Syndax Pharmaceuticals Inc. SNDX$857 millionn/an/a-61.7%159.5%n/an/a
MeiraGTx Holdings plc MGTX$847 million12.6636.6%46.3%948.3%0.46n/a
Aktis Oncology, Inc. AKTS$847 millionn/an/an/an/a0.00n/a
Verastem, Inc. VSTM$794 millionn/an/an/an/a11.82n/a
Lexicon Pharmaceuticals, Inc. LXRX$791 millionn/a-38.1%-147.4%-45.6%0.32n/a
Nektar Therapeutics NKTR$759 millionn/a-17.4%-257.8%-27.2%0.00n/a
Collegium Pharmaceutical, Inc. COLL$752 million24.2012.9%15.2%7.7%3.65n/a
Rigel Pharmaceuticals Inc. RIGL$746 million2.5569.0%26.3%2.2%0.02n/a
QuidelOrtho Corp. QDEL$732 millionn/a-20.6%-4.9%-4.5%1.64n/a
Ironwood Pharmaceuticals Inc. IRWD$728 million4.89n/a62.9%18.1%n/an/a
Ardelyx, Inc. ARDX$722 millionn/a-33.8%-7.7%17.6%1.54n/a
Arbutus Biopharma Corp. ABUS$721 million4.6259.2%82.0%1,078.8%0.00n/a
Ginkgo Bioworks Holdings, Inc. DNA$718 millionn/a-69.2%-259.9%-51.5%0.00n/a
Zevra Therapeutics, Inc. ZVRA$690 million9.6032.7%60.8%75.1%0.00n/a
Wave Life Sciences, Inc. WVE$665 millionn/a-52.4%-320.9%n/a0.00n/a
Design Therapeutics, Inc. DSGN$651 millionn/a-36.6%n/an/a0.00n/a
Kura Oncology, Inc. KURA$645 millionn/a-612.8%-411.9%n/a0.20n/a
Geron Corp. GERN$636 millionn/an/an/an/a0.53n/a
Aclaris Therapeutics, Inc. ACRS$588 millionn/a-47.7%-1,414.0%-59.3%0.00n/a
Myriad Genetics Inc. MYGN$565 millionn/a-48.0%-14.3%-2.6%0.45n/a
Gyre Therapeutics, Inc. GYRE$510 millionn/a-37.5%-20.6%13.5%0.00n/a
Monopar Therapeutics MNPR$479 millionn/an/an/an/a0.00n/a
CytomX Therapeutics, Inc. CTMX$476 millionn/a-30.0%-676.5%-87.7%0.00n/a
Aquestive Therapeutics, Inc. AQST$454 millionn/an/a-114.1%12.5%n/an/a
Evolus, Inc. EOLS$450 millionn/an/a-4.8%13.9%n/an/a
Phathom Pharmaceuticals, Inc. PHAT$425 millionn/an/a-9.3%86.8%n/an/a
Puma Biotechnology, Inc. PBYI$421 million15.8519.3%13.2%-2.9%0.00n/a
Arvinas, Inc. ARVN$419 millionn/a-1.8%-12.1%-11.8%0.00n/a
CorMedix Inc. CRMD$412 million2.4840.6%47.0%n/a0.00n/a
Crescent Biopharma, Inc. CBIO$374 millionn/an/an/an/a0.00n/a
Canopy Growth Corp. CGC$276 millionn/an/a-54.2%10.7%0.38n/a
Atrium Therapeutics, Inc. RNA$143 millionn/an/an/an/an/an/a
38 companies share its SEC industry code (Biological Products, (No Diagnostic Substances)); the rest are the names nearest in size in its wider industry, Pharmaceutical Products, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

The public record on BIIB

Dividendsno dividend in its filings for fiscal 2007 onward
Filings20 in twelve months: 13 current reports (8-K), about 7 results of operations; 2 material agreement; 2 other events; 2 officer or director change; 1 shareholder vote
Planned insider sales4 Form 144 notices in twelve months, $905,414; latest 4 August 2026
Options tapeput/call 1.08 by open interest at the 6 November 2026 close; the straddle prices a 4.6% move to 13 November 2026
13F holders1,049 funds reported a position for the quarter to 30 June 2026; largest FMR LLC
Insider trading4 sales and 1 purchase on Form 4 in twelve months
Congress7 House trades disclosed in six months
Short interest5.5 million shares short, 4.39 days to cover at 15 October 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Filings

FilingPeriodFiledWhere
10-Q30 September 202628 October 2026EDGAR
10-Q30 June 202629 July 2026EDGAR
10-Q31 March 202629 April 2026EDGAR
10-K31 December 20256 February 2026EDGAR
10-Q30 September 202530 October 2025EDGAR
10-Q30 June 202531 July 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202412 February 2025EDGAR
10-Q30 September 202430 October 2024EDGAR
10-Q30 June 20241 August 2024EDGAR

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