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CompareEarnings: May 31, 2026

Biogen Inc

Exchange: NASDAQSector: HealthcareIndustry: Drug Manufacturers - General

Eisai and Biogen have been collaborating on the joint development and commercialization of AD treatments since 2014. Eisai serves as the lead of lecanemab development and regulatory submissions globally with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority. About the Collaboration between Eisai and BioArctic for AD Since 2005, Eisai and BioArctic have had a long-term collaboration regarding the development and commercialization of AD treatments. Eisai obtained the global rights to study, develop, manufacture and market lecanemab for the treatment of AD pursuant to an agreement with BioArctic in December 2007. The development and commercialization agreement on the antibody lecanemab back-up was signed in May 2015. About Eisai Co., Ltd. Eisai's Corporate Concept is "to give first thought to patients and people in the daily living domain, and to increase the benefits that health care provides." Under this Concept (also known as human health care ( hhc ) Concept), we aim to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities. With a global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas of Neurology and Oncology. In addition, we demonstrate our commitment to the elimination of neglected tropical diseases (NTDs), which is a target (3.3) of the United Nations Sustainable Development Goals (SDGs), by working on various activities together with global partners.

Did you know?

Earnings per share grew at a -17.5% CAGR.

Current Price

$177.34

-3.50%

GoodMoat Value

$108.82

38.6% overvalued
Profile
Valuation (TTM)
Market Cap$26.02B
P/E20.12
EV$29.70B
P/B1.43
Shares Out146.70M
P/Sales2.63
Revenue$9.89B
EV/EBITDA12.28

Biogen Inc (BIIB) Company Profile

GoodMoat Analysis

Based on data as of March 26, 2026

Biogen is a mature biopharmaceutical company with a portfolio of legacy and new neurology drugs, but it faces significant challenges. Its business is under pressure from revenue declines and patent expirations, and its current valuation appears unfavourable relative to its growth profile and the GoodMoat target.

Read full analysis
Biogen Inc. discovers, develops, and sells therapies for neurological diseases, such as multiple sclerosis (MS), spinal muscular atrophy (SMA), and Alzheimer's. Its customers are healthcare providers and patients, with revenue primarily generated in the US and Europe. The company's historical moat, based on Section 1 of the framework, was built on technology leadership (criterion #9) through pioneering neuroscience research and regulatory barriers (#5) via patents. However, this moat is eroding as key patents for drugs like Tecfidera have expired, leading to generic competition and the -7.1% YoY revenue decline seen in the data. Current moat sources are narrower, potentially including new drug approvals like Leqembi for Alzheimer's, which face high regulatory hurdles. Key risks, aligned with Section 5 (Red Flags), are severe. The company exhibits clear signs of competitive erosion (#8) and faces ongoing patent expiration risks. The revenue decline and an operating margin of 15.7% may also indicate margin compression (#2). A value investor might be interested due to the 7.3% FCF yield and a P/E of 21.5, which is not extreme. However, the negative growth, combined with a price significantly above the GoodMoat target of $108.82, suggests the stock is priced for a successful turnaround that carries high execution risk. The business currently struggles to pass the 'Moat & Quality Gate' in the decision framework, as its durable advantages are in question and financial quality indicators like revenue growth are weak. Analysis based on data as of 2024-05-15.

BIIB Company Information

Eisai and Biogen have been collaborating on the joint development and commercialization of AD treatments since 2014. Eisai serves as the lead of lecanemab development and regulatory submissions globally with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority.

About the Collaboration between Eisai and BioArctic for AD Since 2005, Eisai and BioArctic have had a long-term collaboration regarding the development and commercialization of AD treatments. Eisai obtained the global rights to study, develop, manufacture and market lecanemab for the treatment of AD pursuant to an agreement with BioArctic in December 2007.

The development and commercialization agreement on the antibody lecanemab back-up was signed in May 2015. About Eisai Co., Ltd. Eisai's Corporate Concept is "to give first thought to patients and people in the daily living domain, and to increase the benefits that health care provides." Under this Concept (also known as human health care ( hhc ) Concept), we aim to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities.

With a global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas of Neurology and Oncology. In addition, we demonstrate our commitment to the elimination of neglected tropical diseases (NTDs), which is a target (3.3) of the United Nations Sustainable Development Goals (SDGs), by working on various activities together with global partners.

Sector

Healthcare

Industry

Drug Manufacturers - General

Exchange

NASDAQ

Country

Massachusetts, USA

BIIB Key Officers

Key officers data coming soon

BIIB Company Profile

Biogen Inc (BIIB) is a Healthcare company in the Drug Manufacturers - General industry, listed on NASDAQ. Headquartered in Massachusetts, USA.

Eisai and Biogen have been collaborating on the joint development and commercialization of AD treatments since 2014. Eisai serves as the lead of lecanemab development and regulatory submissions globally with both companies co-commercializing and co-promoting the product and Eisai having final decision-making authority. About the Collaboration between Eisai and BioArctic for AD Since 2005, Eisai and BioArctic have had a long-term collaboration regarding the development and commercialization of AD treatments. Eisai obtained the global rights to study, develop, manufacture and market lecanemab for the treatment of AD pursuant to an agreement with BioArctic in December 2007. The development and commercialization agreement on the antibody lecanemab back-up was signed in May 2015. About Eisai Co., Ltd. Eisai's Corporate Concept is "to give first thought to patients and people in the daily living domain, and to increase the benefits that health care provides." Under this Concept (also known as human health care ( hhc ) Concept), we aim to effectively achieve social good in the form of relieving anxiety over health and reducing health disparities. With a global network of R&D facilities, manufacturing sites and marketing subsidiaries, we strive to create and deliver innovative products to target diseases with high unmet medical needs, with a particular focus in our strategic areas of Neurology and Oncology. In addition, we demonstrate our commitment to the elimination of neglected tropical diseases (NTDs), which is a target (3.3) of the United Nations Sustainable Development Goals (SDGs), by working on various activities together with global partners.

Market capitalization: $26.02B. Shares outstanding: 146.7M.

View the complete company profile for Biogen Inc on GoodMoat, including key officers, financial metrics, sector classification, and investment analysis tools. Use the profile alongside GoodMoat's DCF calculator, fair value models, and quality score to evaluate whether BIIB is a sound investment opportunity.