U.S. COMPANY FILING
BIOGEN INC. — Form 10-K filed 2026-02-06
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Biogen's 2025 revenue increased 2.2% to ~$9.86B, but diluted EPS decreased 21.4%. MS revenue declined 7.1% due to generics/biosimilars, while rare disease grew 8.4%. Completed Alcyone acquisition, issued $1.75B senior notes. Cash and marketable securities rose to $4.2B. Risks include TECFIDERA patent revocation and TYSABRI biosimilar competition.
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