Biogen said Global SKYCLARYS revenue was $102.3 million for the quarter ended September 30, 2024, and it expects Global SPINRAZA revenue to decline by high-single digits in 2024. Biogen said SKYCLARYS revenue reached $280.3 million in 9 months.

10-QQuarterly reportFiled Oct 30, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Biogen said Global SKYCLARYS revenue was $102.3 million for the quarter ended September 30, 2024, and it expects Global SPINRAZA revenue to decline by high-single digits in 2024. Biogen said SKYCLARYS revenue reached $280.3 million in 9 months.
Biogen said Global TYSABRI revenue fell 11.0%, from $456.3 million to $406.1 million, for the quarter ended September 30, 2024. The company cited increased competition, unfavorable channel dynamics in the U.S. and lower pricing in some international markets as the main factors.
Biogen said it completed the acquisition of HI-Bio on July 2, 2024. It said it may pay up to $650.0 million in additional development and regulatory milestones. The company said the acquisition-date fair value was about $485.1 million, and that the first milestone of about $150.0 million could occur within 6 months.
Biogen said it entered into a $1.5 billion 5-year senior unsecured revolving credit facility in August 2024, replacing its existing $1.0 billion facility. As of September 30, 2024, the company said it had no outstanding borrowings under the revolving credit facility and that its long-term debt balance was $4.5 billion.

Key figures

Quarter ended September 30, 2024

Revenue: $2.5B
Net income: $389M
EPS: $2.66

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.

SKYCLARYS Sales and SPINRAZA Outlook

Biogen said Global SKYCLARYS revenue was $102.3 million for the quarter ended September 30, 2024, and it expects Global SPINRAZA revenue to decline by high-single digits in 2024. Biogen said SKYCLARYS revenue reached $280.3 million in 9 months.

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

TYSABRI Quarterly Revenue Change

Biogen said Global TYSABRI revenue fell 11.0%, from $456.3 million to $406.1 million, for the quarter ended September 30, 2024. The company cited increased competition, unfavorable channel dynamics in the U.S. and lower pricing in some international markets as the main factors.

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

HI-Bio Acquisition and Contingent Consideration

Biogen said it completed the acquisition of HI-Bio on July 2, 2024. It said it may pay up to $650.0 million in additional development and regulatory milestones. The company said the acquisition-date fair value was about $485.1 million, and that the first milestone of about $150.0 million could occur within 6 months.

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

Credit Facility and Debt Balance

Biogen said it entered into a $1.5 billion 5-year senior unsecured revolving credit facility in August 2024, replacing its existing $1.0 billion facility. As of September 30, 2024, the company said it had no outstanding borrowings under the revolving credit facility and that its long-term debt balance was $4.5 billion.

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.

View the original filing on SEC EDGAR ↗

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