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Financial Report: Biogen

TECFIDERA revenues top $1.0 billion in the quarter

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By: Kristin Brooks

Managing Editor, Contract Pharma

Biogen
 
3Q Revenues: $3.0 billion (+6%)

3Q Earnings: $1.0 billion (+1%)

YTD Revenues: $8.6 billion (+8%)

YTD Earnings: $3.0 billion (+10%)

Comments: Growth in the quarter was driven by a 10% increase in TECFIDERA revenues to $1.0 billion, as well as increased TYSABRI sales, up 7% to $515 million, ELOCTATE sales, up 46% to $132 million, ALPROLIX sales, up 30% to $85 million, and the launch of biosimilar products BENEPALI and FLIXABI in Europe. Biosimilar revenues were $31 million in the quarter. Revenues were partially offset by a 10% decrease in worldwide interferon sales to $708 million, with AVONEX sales down 15% to $580 million. R&D expenses for the quarter includes a $75 million payment to Ionis Pharmaceuticals in connection with Biogen’s exercise of its opt-in right to develop and commercialize nusinersen globally. Also, during the quarter, Biogen recognized $13 million in restructuring charges primarily related to organizational changes associated with the anticipated spin-off of Bioverativ, as well as additional cost saving measures.

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