Summary
- Biogen has its origin in multiple sclerosis (MS'), with MS revenues peaking in 2017.
- Biogen dropped a molecule amiselimod that could have competed with Novartis' MS blockbuster Gilenya. A similar molecule etrasimod being developed by Arena is available.
- Biogen made a strategic decision to focus on neuro-degenerative disorders, while noble it has been costly to shareholders. Biogen should reconsider this decision.
Biogen (BIIB) is a biotechnology company founded by several notable scientists, two Nobel Prize recipients and one knighted. Biogen gained prominence during the late 90's for FDA and European approval of the interferon Avonex for the treatment of relapsing forms of multiple sclerosis (MS'), and rituximab for certain types of B-cell Non-Hodgkin's lymphoma; rituximab is the first monoclonal antibody therapy to be approved for a type of cancer. The FDA eventually approved rituximab for treatment of rheumatoid arthritis, granulomatosis with polyangiitis (Wegener's granulomatosis), microscopic polyangiitis and chronic lymphocytic leukemia.
Revenues and corporate strategy
Since then Biogen has gone on to build an impressive portfolio of medications, with an emphasis on MS. However, since 2016 Biogen's MS revenues as a percentage of total revenues has dropped from 89% to 78% as can be seen from revenues pulled from the company's annual reports:
