Company Dossier · Health Care
Biogen
- S&P 500
- Russell 1000
What Biogen is doing, read from its filings, its own words and the news, with every figure dated and sourced. Not investment advice: no ratings, no price targets.
Open the full company record in Palanor: guidance, KPIs, ownership, calls, prices →
The latest read
Computed from the data on Oct 22, 2026. Every figure links back to its source in the sections below.
- Revenue over the four quarters to March 31, 2026: $9.94 billion, up 1.2% from a year earlier.SEC EDGAR filings (XBRL)
- Free cash flow (operating cash flow minus capital expenditure) over the four quarters to March 31, 2026: $2.42 billion, down 0.8% from a year earlier.SEC EDGAR filings (XBRL)
- Capital expenditure over the four quarters to March 31, 2026: $0.17 billion, up 21% from a year earlier.SEC EDGAR filings (XBRL)
- Long-term debt issued in the fiscal year to December 31, 2025: $1.73 billion.SEC EDGAR filings (10-K)
- Latest earnings call or results release (July 29, 2026): sentiment 0.60 on a −1 to +1 scale (mixed), confidence 0.80 of 1.Palanor Discourse
- Guidance in the last 90 days: 0 outlook figures raised, 1 lowered, 0 held.Guidance Ledger (8-K results releases)
- Latest annual report (filed February 6, 2026): 0 risk factors added, 0 removed.Risk Factor Changes (10-K Item 1A)
- Insiders were net sellers in Q3 2026: $0.2 million on the open market.SEC Form 4
- 1,048 institutional managers reported a position at June 30, 2026 (+34 on the quarter before).SEC Form 13F
- H-1B filings certified in Q2 2026: 28 (35 a year earlier).U.S. Department of Labor (OFLC)
Company Posture
How Company Posture is measured →What Biogen is doing, on three axes, from its filings and its own words, as of 2026-10-22. A description, not a rating: Company Posture never says whether to buy.
Expanding ↔ Retrenching
Withheld: 50% of the evidence is readable at this date (needs 60%).
- Capital spending—
- Debt raised—
- Buybacks vs capex—
- Hiring filings61st pct
- Deals and private raises95th pct
- Patent publications68th pct
Confident ↔ Hedging
Mixed
- Call sentiment58th pct
- Call confidence64th pct
- Guidance changes6th pct
- Risk factors added73rd pct
- Insider open-market trades31st pct
Pressure
Components only: Not yet shown as a score: in the back-test it did not add to a naive reader's forecast of impairment, debt acceleration or bankruptcy filings (8-K 2.06, 2.04, 1.03) (not enough events (17 in half 1; needs 20)).
- Fails-to-deliver24th pct
- Stress filings48th pct
Credit
How these are built →Biogen's borrowing from its SEC filings: the bonds it priced and the debt on its latest balance sheet. A description, not a rating.
Debt on the balance sheet
$6.3B
- Due within a year $0.0B
- Longer term $6.3B
- Default point $3.1B (short + ½ long)
Finance leases included · Mar 31, 2026 filing
Bonds priced, last 12 months
None
U.S. dollar tranches with a term sheet on EDGAR. Deals sold under Rule 144A file none and are not counted.
| Priced | Amount | Coupon | Matures | Spread | Yield |
|---|---|---|---|---|---|
| May 6, 2025 | $400M | 5.050% | 2031 (6y) | +115bp | 5.051% |
| May 6, 2025 | $650M | 5.750% | 2035 (10y) | +145bp | 5.760% |
| May 6, 2025 | $700M | 6.450% | 2055 (30y) | +165bp | 6.476% |
From the pricing term sheets Biogen filed with the SEC. Spread is to the benchmark Treasury (or Bund, Gilt) at pricing.
Charts
Live charts: each one redraws from today’s data and has an image link to paste into a document or slide.
Cash flow
Capital returned and raised
What the company says
Biogen: earnings call confidence
Palanor Discourse score per call, 0 to 1
Hiring and ownership
News
Biogen: headline tone
Net share of positive headlines, trailing 28 days, −1 to +1
In the news
Headlines that name Biogen, with the publisher and a link. The tone is read from each headline’s own words, never from a summary of the article.
- NeutralBiogen's Litifilimab Phase 2 Data Shows Progress in Lupus Treatment, BIIB Stock Nears Fair Valuation
gurufocus.com · via Marketaux · Oct 2, 2026
- NeutralBiogen (BIIB) Reports Promising 52-Week Phase 2 Data for Litifilimab in Cutaneous Lupus Erythematosus
gurufocus.com · via Marketaux · Oct 2, 2026
- NeutralEarnings roundup: Biogen’s ‘resiliency,’ AstraZeneca’s growth pitch and GSK’s oncology push
BioPharma Dive · Jul 29, 2026
Filings and records
The last two years of notable 8-Ks, offerings, annual reports, federal awards, lobbying reports, patents and other public records, newest first.
- Oct 21, 2026LobbyingLobbying report (FEDERAL STREET STRATEGIES, LLC)third_quarter 2026 · $0.1 million
- Oct 20, 2026LobbyingLobbying report (DLA PIPER LLP (US))third_quarter 2026 · $0.1 million
- Oct 20, 2026LobbyingLobbying report (BIOGEN)third_quarter 2026 · $0.9 million
- Oct 19, 2026LobbyingLobbying report (TODD STRATEGY GROUP)third_quarter 2026 · $0.1 million
- Oct 13, 2026Patent
- Oct 13, 2026Patent
- Sep 15, 2026PatentPatent granted: ANTI-VLA-4 ANTIBODIESUS 12734236
- Aug 25, 2026Patent
- Aug 18, 2026PatentPatent granted: TYK2 INHIBITORSUS 12709621
- Jul 21, 2026LobbyingLobbying report (FEDERAL STREET STRATEGIES, LLC)second_quarter 2026 · $0.1 million
- Jul 20, 2026LobbyingLobbying report (TODD STRATEGY GROUP)second_quarter 2026 · $0.1 million
- Jul 20, 2026LobbyingLobbying report (BIOGEN)second_quarter 2026 · $1.1 million
- Jul 20, 2026LobbyingLobbying report (DLA PIPER LLP (US))second_quarter 2026 · $0.1 million
- Jun 10, 20268-KShareholder vote resultsItem 5.07
- May 14, 20268-KMaterial agreement signedItem 1.01
- May 14, 20268-KAcquisition or sale completedItem 2.01
- Mar 31, 20268-KMaterial agreement signedItem 1.01
- Mar 11, 20268-KDirector or officer changeItem 5.02
- Feb 11, 20268-KDirector or officer changeItem 5.02
- Feb 6, 202610-KAnnual report (10-K)0 risk factors added, 0 removed
- Jun 23, 20258-KShareholder vote resultsItem 5.07
- Feb 12, 202510-KAnnual report (10-K)1 risk factors added, 0 removed
- Jan 15, 20258-KDirector or officer changeItem 5.02
- Oct 30, 20248-KDirector or officer changeItem 5.02
- Feb 14, 202410-KAnnual report (10-K)0 risk factors added, 1 removed
Peers
Companies in the same industry in the S&P 500, Russell 1000 or MidCap 400, closest in revenue first. Trailing twelve months, from SEC filings.
| Company | Revenue | Free cash flow | Through |
|---|---|---|---|
| Vertex Pharmaceuticals VRTX | $12.6B | $3.8B | Jun 30, 2026 |
| Regeneron Pharmaceuticals REGN | $15.5B | $3.8B | Jun 30, 2026 |
| Incyte INCY | $5.4B | — | Mar 31, 2026 |
| Neurocrine Biosciences NBIX | $3.4B | $0.6B | Jun 30, 2026 |
| Gilead Sciences GILD | $30.5B | $12.9B | Jun 30, 2026 |
| United Therapeutics UTHR | $3.1B | $1.1B | Jun 30, 2026 |
| Amgen AMGN | $38.1B | $10.2B | Jun 30, 2026 |
| Exelixis EXEL | $2.4B | $1.2B | Jul 3, 2026 |