Biogen Inc
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Biogen Inc
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Biogen Inc
Biogen is a biotechnology company that develops and sells medicines for serious diseases, with a long focus on conditions that affect the brain and nervous system. Its main products are prescription drugs for diseases such as multiple sclerosis, spinal muscular atrophy, Alzheimer’s disease, and certain rare neurological disorders. It also works on therapies for immunology and related areas, but its business is centered on specialty medicines that are prescribed by doctors rather than sold over the counter. The company makes money mainly by selling branded drugs to hospitals, clinics, pharmacies, and other healthcare providers. In some cases it also earns income from product royalties and collaborations with other drugmakers. Because these are complex medicines used in specialized care, Biogen’s business depends on scientific research, regulatory approval, and ongoing relationships with neurologists, specialists, and payers who decide whether patients can access the treatments. What makes Biogen different is that it sits at the high-science end of the pharmaceutical chain: it turns research in biology and neurology into treatments for hard-to-treat diseases. Instead of competing on broad, everyday medicines, it focuses on a smaller set of branded therapies where patient need is high and medical expertise matters. That gives Biogen a business model built around patents, clinical data, specialist prescribing, and close ties to the healthcare system.
Biogen is a biotechnology company that develops and sells medicines for serious diseases, with a long focus on conditions that affect the brain and nervous system. Its main products are prescription drugs for diseases such as multiple sclerosis, spinal muscular atrophy, Alzheimer’s disease, and certain rare neurological disorders. It also works on therapies for immunology and related areas, but its business is centered on specialty medicines that are prescribed by doctors rather than sold over the counter.
The company makes money mainly by selling branded drugs to hospitals, clinics, pharmacies, and other healthcare providers. In some cases it also earns income from product royalties and collaborations with other drugmakers. Because these are complex medicines used in specialized care, Biogen’s business depends on scientific research, regulatory approval, and ongoing relationships with neurologists, specialists, and payers who decide whether patients can access the treatments.
What makes Biogen different is that it sits at the high-science end of the pharmaceutical chain: it turns research in biology and neurology into treatments for hard-to-treat diseases. Instead of competing on broad, everyday medicines, it focuses on a smaller set of branded therapies where patient need is high and medical expertise matters. That gives Biogen a business model built around patents, clinical data, specialist prescribing, and close ties to the healthcare system.
Growth reacceleration: Biogen said second-quarter core pharmaceutical revenue was $1.8 billion, up 4% year over year and 12% quarter over quarter, driven by its growth portfolio and the newly added Apellis products.
Guidance raised: Full-year 2026 revenue guidance moved from a mid-single-digit percentage decline to a mid-single-digit percentage increase, and non-GAAP diluted EPS guidance is now $12 to $13.
SPINRAZA momentum: High-dose SPINRAZA is ramping faster than management expected, with strong conversion and early signs of switchbacks from oral therapy back to SPINRAZA.
LEQEMBI IQLIK: Biogen highlighted the recent FDA approval of LEQEMBI IQLIK initiation, saying home dosing could broaden access, improve persistence, and help LEQEMBI compete more effectively.
Apellis integration: SYFOVRE and EMPAVELI contributed $128 million in combined revenue post-close, and management said the integration is progressing well with strong commercial momentum.
Pipeline catalysts: Biogen expects 5 registrational readouts across SLE, CLE, AMR, and Dravet syndrome over the next several quarters, while also rebuilding its early-stage pipeline with 6 new programs planned this year.
Capital allocation: The company said it remains more selective on M&A, favoring earlier-stage deals, while continuing to invest in late-stage and pre-launch assets.