Biogen’s revenue trends
In 3Q17, Biogen (BIIB) generated revenue of ~$3.1 billion, which reflected ~4% growth YoY (year-over-year). Excluding the hemophilia segment, Biogen witnessed 13% growth YoY.
In 3Q17, Biogen reported net income of ~$1.2 billion, compared with $1.0 billion in 3Q16. It reported basic earnings per share (or EPS) of $5.80 in 3Q17 and $4.72 in 3Q16.
Spinraza and biosimilars primarily propelled revenue growth in 3Q17. In 3Q17, Ocrevus contributed to ~$65 million of Biogen’s net revenue, and Biogen’s biosimilars witnessed ~11% growth QoQ (quarter-over-quarter).
The chart above demonstrates Biogen’s revenue curve from 1Q16 to 3Q17, and analysts’ estimates for 4Q17. To learn more about Biogen’s revenue trends, read How Did Biogen Perform in 1H17?
Expenses in 3Q17
In 3Q17, Biogen reported a cost of sales of ~$370.0 million, compared with $416.9 million in 3Q16, and R&D (research and development) expenses and SG&A (selling, general, and administrative) expenses of around $446.4 million and $433.8 million, respectively, compared with $529.0 million and $462.7 million in 3Q16.In 3Q17, the company reported total costs and expenses of around $1.4 billion, compared with $1.5 billion in 3Q16.
Spinraza revenue trends
In 3Q17, Spinraza generated revenue of ~$271 million, which reflected ~33% growth QoQ. In 3Q17, US patients receiving Spinraza therapy rose 75% from 2Q17. Spinraza generated US revenue of ~$198 million.
Peers in the multiple sclerosis drug market include Teva Pharmaceutical, Sanofi, Novartis, AbbVie, and Merck. The iShares NASDAQ Biotechnology ETF (IBB) invests ~8.1% of its total portfolio in Biogen.