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Biogen Inc.Stock · HealthcareS&P 500 0.0%
$202.19+$1.57 (+0.78%)as of market close, Jul 24, 2026
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How Biogen makes money

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How does Biogen make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

Biogen Inc. · FY2025 · year ended 2025-12-31
Revenue$9.9BGross profit$7.5B · 76%Cost of revenue$2.4B · 24%Operating income$3.3B · 33%Operating expenses$4.2B · 43%R&D$1.8B · 18%SG&A$2.4B · 25%Pre-tax income$1.6B · 16%Other expense$1.7B · 17%Net income$1.3B · 13%Income tax$264M · 3%Royalty Attributed To OCREVUS$1.4B · 14%Interferon$946M · 10%VUMERITY$747M · 8%Contract Manufacturing Royalty & Other Revenue$733M · 7%Biosimilars$729M · 7%AVONEX$696M · 7%TECFIDERA$680M · 7%Contract Manufacturing & Other Revenue$679M · 7%SKYCLARYS$521M · 5%BENEPALI$453M · 5%PLEGRIDY$250M · 3%Other$197M · 2%ZURZUVAE$195M · 2%IMRALDI$190M · 2%Alzheimers Collaboration$178M · 2%QALSODY$87M · 1%Royalty$54M · 1%FLIXABI$53M · 1%Other revenue$1.1B · 11%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.