Neuroscience therapeutics company
Biogen Inc.
Biogen earns revenue from multiple-sclerosis and rare-disease medicines and from collaborations with Genentech and Eisai. It spends on licensed drug candidates, joint development and outsourced biologics manufacturing.
Business categories Pharmaceuticals & Biotechnology · Biopharma & Life Sciences · primary
BIIB Updated Sep 23, 2026 5 AI consumers· 3 recurring
Per the valuechain.wiki graph, Biogen Inc. is directly linked to 4 companies (2 supply, 3 revenue relationships) and reaches 6 companies within two hops; the links are backed by 6 dated sources, 2 of them primary filings (as of 2026-09-23).
Financials & Segments
- Total revenue · FY2025 total revenue of $9.8906 billion
- Segments · Product revenue · Anti-CD20 therapeutic program revenue · Alzheimer's collaboration revenue · Contract manufacturing, royalty and other revenue
Revenue from
- Eisai High confidence· Amount $178M · FY2025 · Alzheimer's collaboration revenue recognized from the Eisai LEQEMBI collaboration
Biogen co-commercializes LEQEMBI with Eisai and recognizes 50% of collaboration economics after net product revenue and cost of sales. FY2025 Alzheimer's collaboration revenue was $177.7 million. - Cencora, Inc. High confidence· Revenue share 33 PERCENT · FY2014 · AmerisourceBergen share of Biogen gross product revenue
AmerisourceBergen, now Cencora, was a major U.S. wholesale distributor for Biogen. In FY2014 it exceeded 10% of total revenue and represented 33% of gross product revenue. - McKesson Corporation High confidence· Revenue share 27 PERCENT · FY2014 · McKesson share of Biogen gross product revenue
McKesson was a major U.S. wholesale distributor for Biogen. In FY2014 it exceeded 10% of total revenue and represented 27% of gross product revenue. - Genentech, Inc. (Roche Group) High confidence· Revenue share 18.8 PERCENT · FY2025 · Share of Biogen total revenue derived from Genentech collaboration arrangements
Genentech and the Roche Group pay Biogen profit shares and royalties on anti-CD20 therapies including RITUXAN, GAZYVA and OCREVUS. These arrangements generated 18.8% of Biogen's FY2025 revenue.
Pays to
- Stoke Therapeutics, Inc. High confidence· Amount $165M · FY2025 · Upfront payment at closing of the zorevunersen collaboration and license agreement
Biogen paid Stoke $165 million upfront for a collaboration covering co-development and ex-North American commercialization rights to zorevunersen for Dravet syndrome. - Eisai High confidence· Market share 50 PERCENT · 협업 계약기간 · Biogen share of LEQEMBI research, development, sales and marketing costs
Biogen shares LEQEMBI research, development, sales and marketing costs equally with Eisai. Eisai also has a supply agreement for Biogen to manufacture LEQEMBI drug substance and drug product through 2031. - Fujifilm Holdings Medium confidence
When Biogen sold its Hillerød site to the Fujifilm group, it entered manufacturing-services agreements for commercial biologics including TYSABRI. The manufacturing consideration was not disclosed.Confirms KO Yonhap News Agency Published Mar 13, 2019: Samsung Bioepis Changes Contract Manufacturer from Biogen to FujifilmConfirms EN Biogen Investor Relations Published Mar 12, 2019: Biogen Enters Into an Agreement to Sell Its Large-Scale Biologics Manufacturing Site in Hillerød, Denmark to Fujifilm
Investments
- Alcyone Therapeutics, Inc. High confidence· Amount $85M · FY2025 · Total consideration for the Alcyone Therapeutics acquisition
Biogen acquired Alcyone Therapeutics in November 2025 to secure ThecaFlex DRx, an intrathecal drug-delivery device. Consideration was approximately $85 million as of year-end 2025.Confirms EN Biogen Investor Relations Published Sep 18, 2025: Biogen to Acquire Alcyone Therapeutics, Expanding Drug Delivery Solution Portfolio for Key Product and Pipeline Candidates
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| CVS Health | lead2 | +54.9 | -7.6 | -12.5 | -40.8 | +84.3 | +24.7 |
| Walmart Inc | lead2 | +2 | -0.5 | +12.9 | +74 | +24.5 | +0.6 |
| McKesson Corporation | lead1 | +44.2 | +51.8 | +24.1 | +23.7 | +44.5 | +14.8 |
| Eisai | lead1 | -22.9 | +42.2 | -10.9 | -32.2 | -3.5 | +10.3 |
| Cencora, Inc. | lead1 | +44.1 | +26.3 | +25.3 | +10.4 | +51.5 | -1.4 |
| Biogen Inc. | node | -2 | +15.4 | -6.6 | -40.9 | +15.1 | +28.3 |
| Fujifilm Holdings | benef1 | +29.2 | -8.9 | +40.2 | +11.6 | -8.5 | +13.6 |
| Eisai | benef1 | -22.9 | +42.2 | -10.9 | -32.2 | -3.5 | +10.3 |
YTD as of 2026-10-09 · source: Yahoo Finance
Biogen Inc. operates across Neuroscience therapeutics company. It is +25.5% in 2026. Demand side (avg +4.8%), the stock (+25.5%) and supply side (avg +8.6%) are moving in step. Propagation has completed a lap, so the next leg depends on individual results more than chain direction. Among connected nodes the furthest ahead is McKesson Corporation (+11%) and the furthest behind is Cencora, Inc. (-1.4%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. It spends on licensed drug candidates, joint development and outsourced biologics manufacturing.
Analysis generated from returns as of 2026-09-04← All companiesMarkdown · JSON · Customers · Suppliers · Ripple