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Home Industry News Biogen reports record-breaking financial results for 2017

Biogen reports record-breaking financial results for 2017

26th January 2018

Biogen has announced its financial results for the fourth quarter and full-year periods of 2017, during which it delivered a record-breaking performance.

The company's revenues for the full year came to $12.3 billion (GBP 8.63 billion), representing a seven percent year-on-year rise, or a 15 percent increase when excluding revenues from the haemophilia business, which was spun off into a new company called Bioverativ earlier this year.

During the fourth quarter, the firm generated revenues of $3.3 billion, up by seven percent on the previous quarter and 15 percent year over year. Drivers of this strong performance included brands such as Ocrevus, Tecfidera, Avonex, Plegridy and Tysabri.

Key highlights of 2017 included the addition of seven products to Biogen's neuroscience pipeline and the highly successful launch of Spinraza, as well as the completion of the Bioverativ spinoff.

For 2018, the company is targeting revenues of approximately $12.7 billion to $13 billion.

Michel Vounatsos, Biogen's chief executive officer, said: "Over the next 12 to 18 months, we expect several important data readouts across both our core and emerging growth areas as we continue to advance an industry-leading neuroscience portfolio."

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