The company said global TECFIDERA revenue fell from $274.5 million to $254.3 million in Q1 2024, a 7.4% decline, while TYSABRI revenue fell from $472.8 million to $431.3 million, down 8.8%, and VUMERITY revenue rose from $108.2 million to $127.5 million, up 17.8%.

10-QQuarterly reportFiled Apr 24, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said global TECFIDERA revenue fell from $274.5 million to $254.3 million in Q1 2024, a 7.4% decline, while TYSABRI revenue fell from $472.8 million to $431.3 million, down 8.8%, and VUMERITY revenue rose from $108.2 million to $127.5 million, up 17.8%.
Biogen said rest of world SPINRAZA revenue fell from $296.6 million to $192.8 million, down 35.0% in 2024, and mainly reflected the timing of shipments. Global SKYCLARYS revenue was $78.0 million.
The company said research and development expense was lower at 19.8% of total revenue in Q1 2023 compared with 23.2% a year earlier. It cited cost-reduction measures under its Fit for Growth program and clinical trial close-out costs for ADUHELM as factors. The company expects Fit for Growth to deliver gross operating expense savings of about $1.0 billion by the end of 2025.
The company repaid the remaining 364-day tranche and the three-year tranche of its 2023 Term Loan, totaling $150.0 million and $250.0 million, respectively, in Q1 2024. As of March 31, 2024, long-term debt was $6,290.1 million.

Key figures

Quarter ended March 31, 2024

Revenue: $2.3B
Net income: $393M
EPS: $2.70
Operating cash flow: $553M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

MS Product Revenue Changes

The company said global TECFIDERA revenue fell from $274.5 million to $254.3 million in Q1 2024, a 7.4% decline, while TYSABRI revenue fell from $472.8 million to $431.3 million, down 8.8%, and VUMERITY revenue rose from $108.2 million to $127.5 million, up 17.8%.

Source · Based on the MD&A text of the filing

SPINRAZA and SKYCLARYS Revenue

Biogen said rest of world SPINRAZA revenue fell from $296.6 million to $192.8 million, down 35.0% in 2024, and mainly reflected the timing of shipments. Global SKYCLARYS revenue was $78.0 million.

Source · Based on the MD&A text of the filing

R&D Expense and Fit for Growth

The company said research and development expense was lower at 19.8% of total revenue in Q1 2023 compared with 23.2% a year earlier. It cited cost-reduction measures under its Fit for Growth program and clinical trial close-out costs for ADUHELM as factors. The company expects Fit for Growth to deliver gross operating expense savings of about $1.0 billion by the end of 2025.

Source · Based on the MD&A text of the filing

Debt Repayment and Share Repurchase Authorization

The company repaid the remaining 364-day tranche and the three-year tranche of its 2023 Term Loan, totaling $150.0 million and $250.0 million, respectively, in Q1 2024. As of March 31, 2024, long-term debt was $6,290.1 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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