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Biogen Reaches $9.8 Billion in Revenue in 2023, Down 3%

Biogen reports a positive balance in 2023 with $9.8 billion in revenues, a 3% decrease. Q4 2023 sales were $2.4 billion, down 6% from the same period in 2022. Last year, in August, Biogen closed the acquisition agreement for Reata Pharmaceuticals after a payment of $7.3 billion, a pharmaceutical company focused on the development of therapies against rare diseases.




Positive balance for Biogen in 2023, although with a slight decrease. The biotechnology company specialized in the field of neurosciences has recorded revenues of $9.8 billion at the end of 2023 , 3% less than the previous year. The company has reported sales in the fourth quarter of 2023 of $2.4 billion, a decrease of 6% compared to the same period in 2022.

Although the company has forecast a single-digit percentage decline in total revenue by 2024, it has anticipated “relatively stable” pharmaceutical sales. In addition, it has announced that it plans to apply to the United States Food and Drug Administration (FDA) for approval of the subcutaneous formulation of lecanemab at the end of March .

Biogen has also announced that it will focus on improving the promotion of its treatment against Alzheimer’s, which is called Lequembi . The solution received approval from the US Food and Drug Administration for marketing at the beginning of July last year after presenting its clinical trials.

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Biogen plans to apply to the US Food and Drug Administration for approval of lecanemab at the end of March

In July of last year, the biotechnology company Biogen developed an adjustment plan for a thousand employees, 11% of its workforce, with the aim of transferring its resources to areas with greater potential value, among which is the drug Lequembi. Specifically, the company forecast savings of $1 billion in operating expenses, of which it planned to reinvest $300 million in product launches and research and development (R&D) programs.

In August of the same year, Biogen closed the acquisition agreement for Reata Pharmaceuticals after a payment of $7.3 billion, a pharmaceutical company focused on the development of therapies against rare diseases with the aim of adding products of great medical need to its portfolio. Specifically, Reata has made progress in developing therapies that regulate cellular metabolism and inflammation in serious neurological diseases.

Biogen discovers, develops and delivers innovative therapies globally for people living with serious neurological and neurodegenerative diseases, as well as related adjacent therapies. The company was founded in 1978 by Charles Weissmann, Heinz Schaller, Kenneth Murray and Nobel Prize winners Walter Gilbert and Phillip Sharp.


(Featured image by Robina Weermeijer via Unsplash)

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Eva Wesley is an experienced journalist, market trader, and financial executive. Driven by excellence and a passion to connect with people, she takes pride in writing think pieces that help people decide what to do with their investments. A blockchain enthusiast, she also engages in cryptocurrency trading. Her latest travels have also opened her eyes to other exciting markets, such as aerospace, cannabis, healthcare, and telcos.