Year Established: 2003
Revenues: $13,453 (+10%)
Net Income: $4,431 (+75%)
R&D: $2,597 (+15%)
Top Selling Drugs
|Spinraza||spinal muscular atrophy||$1,724||95%|
A steady growth trajectory has Biogen up in the rankings this year. In addition to its flagship multiple sclerosis franchise, the continued global launch of spinal muscular atrophy drug Spinraza, which contributed $518 million in revenues in the first quarter, up 42%, is driving growth.
Biogen continues to diversify its pipeline in neuromuscular diseases and movement disorders, and, with the recent acquisition of Nightstar Therapeutics, specialty ophthalmology. By the end of 2020 the company expect results across its clinical programs in MS, progressive supranuclear palsy, ALS, Parkinson’s, pain, cognitive impairment in schizophrenia, epilepsy, stroke, and lupus.
In June, Biogen completed the acquisition of Nightstar Therapeutics, a gene therapy company focused on adeno-associated virus (AAV) treatments for inherited retinal disorders, in a transaction valued at approximately $800 million. Biogen added two mid- to late-stage clinical assets as well as preclinical programs in ophthalmology. NST’s lead asset is NSR-REP1 for the treatment of choroideremia, a rare, degenerative, X-linked inherited retinal disorder, which leads to blindness and has no approved treatments. NSR-RPGR is NST’s second clinical program for X-linked retinitis pigmentosa, which is also a rare inherited retinal disease with no approved treatments.
Further investing in its biosimilar business, under an asset transfer deal with its collaboration partner Samsung BioLogics, assets of Samsung Bioepis were transferred to Biogen on November 7th for approximately $677 million. Samsung Bioepis was founded in 2012 as an 85:15 joint venture between Samsung BioLogics and Biogen. Last June Biogen raised its stake in Bioepis, increasing its ownership to 49.9 percent.
Under the successful alliance, Biogen became the first company in Europe with approved biosimilars referencing the three most prescribed anti-TNF biologic treatments, with the launch of IMRALDI, a biosimilar referencing Abbvie’s Humira.
After evaluating its manufacturing strategy, in March, Biogen sold its large-scale biologics manufacturing operations in Hillerød, Denmark, to Fujifilm Corp. for up to $890 million. As part of the deal, Fujifilm will use the Hillerød site to produce commercial products for Biogen, such as TYSABRI, and other third-party products.
In unfortunate R&D news, the discontinuation of aducanumab for Alzheimer’s disease was a big disappointment. Biogen and partner Eisai discontinued global Phase III trials after futility analysis indicated the trials were unlikely to meet their primary endpoint.
On the upside, Biogen is a few months away from expanding its MS franchise with Vumerity, which has an FDA target action date in 4Q19. Recent Phase III study results showed Vumerity significantly reduced disease activity in newly diagnosed relapsing multiple sclerosis patients.
To support research efforts in neurological diseases, an alliance with C4 Therapeutics will investigate the use of C4’s protein degradation platform to develop new treatments for neurological conditions, such as Alzheimer’s and Parkinson’s. Biogen will pay C4 up to $415 million in upfront and potential milestones. Additionally, Biogen paid $74 million upfront to Skyhawk for research services and an exclusive license to therapeutic candidates for multiple sclerosis, spinal muscular atrophy and other neurological diseases to be developed using SkySTAR platform, which offers a new approach to target neurological conditions using selective RNA-modulating small molecules.