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Biogen

Biogen Inc. is an American multinational biotechnology company based in Cambridge, Massachusetts, specializing in the discovery, development, and delivery of therapies for the treatment of neurological diseases to patients worldwide.[4]

Biogen Inc.
The Biogen headquarters[1]
FormerlyBiogen Idec Inc.
(2003–2015)
TypePublic company
IndustryBiotechnology
Founded1978; 45 years ago (1978)
FoundersKenneth Murray
Phillip Allen Sharp
Walter Gilbert
Heinz Schaller
Charles Weissmann
Headquarters
Key people
Stelios Papadopoulos (Chairman)
Christopher Viehbacher (CEO)
ProductsAvonex, Fampyra, Plegridy, Tecfidera, Tysabri, Spinraza
Revenue US$10.981 billion (2021)[2]
US$2.84 billion (2021)[2]
US$1.727 billion (2021)[2]
Total assets US$23.877 billion (2021)[2]
Total equity US$10.96 billion (2021)[2]
Number of employees
9,100 (2020)[3]
Websitebiogen.com
Footnotes / references
*Commercialized by Genentech/Roche

History

Biogen was founded in 1978 in Geneva as Biotechnology Geneva by several prominent biologists, including Kenneth Murray from the University of Edinburgh, Phillip Allen Sharp from the Massachusetts Institute of Technology, Walter Gilbert from Harvard University (Gilbert served as CEO during the start-up phase of Biogen), Heinz Schaller from the University of Heidelberg, and Charles Weissmann from the University of Zurich (Weissmann contributed the first product interferon alpha).[5][6] Gilbert and Sharp were subsequently honored with Nobel Prizes: Gilbert was recognized in 1980 with the Nobel Prize in Chemistry for his understanding of DNA sequencing and Sharp received the Nobel Prize in Physiology or Medicine in 1993 for his discovery of split genes.[citation needed]

In 2003, Biogen merged with San Diego, California-based IDEC Pharmaceuticals (formed in 1985 by University of California-San Diego's physicians and immunologists Ivor Royston and Robert E. Sobol, San Diego bio entrepreneur Howard Birndorf, and Stanford University cancer researchers Ron Levy and Richard Miller) and adopted the name Biogen Idec.[7][8] After the merger, Biogen Idec became the 3rd largest Biotechnology company in the world.[9]

Following shifts in research core areas, the company has since shortened its name, reverting to simply Biogen.[10] Biogen stock is a component of several stock indices such as the S&P 100, S&P 500, S&P 1500, and NASDAQ-100 and the company is listed on the NASDAQ stock exchange under the ticker symbol, BIIB.[11]

In May 2006, the company announced it would acquire cancer specialist, Conforma Therapeutics for $250 million.[12] Later in the same month, the company announced its intention to acquire Fumapharm AG, consolidating ownership of Fumaderm and BG-12, an oral fumarate, which was being studied for the treatment of multiple sclerosis and psoriasis.[13]

In January 2007, the company announced it would acquire Syntonix Pharmaceuticals for up to $120 million, gaining Syntonix's lead product for hemophilia B as well as the technology for developing inhalable treatments.[14][15]

In 2008, two new brain infection cases from Tysabri users surfaced in Europe that raised international concern about Tysabri and its effects with the progressive multifocal leukoencephalopathy (PML) brain condition. Biogen is one of the drug’s producers.[16]

In 2011, Biogen announced that its drug Fampyra received conditional marketing approval. Under the conditional approval, Biogen agrees to provide additional data on the long-term benefits and safety of Fampyra.[17]

On December 10, 2012, Biogen announced its global collaboration agreement with Isis Pharmaceuticals to develop and research antisense drugs to treat neurological and neuromuscular diseases.[18]

In February 2013, Bloomberg broke the news that Biogen was planning to pay Elan $3.25 billion for the full rights to Tysabri, used to treat multiple sclerosis.[19]

In January 2015, the company announced that it would acquire Convergence Pharmaceuticals for up to $675 million, with the acquisition aiming to accelerate the development of Convergence's pipeline, in particular CNV1014802 – a Phase II small molecule sodium channel blocking candidate.[20] In October 2015, the company announced that it would lay off 11% of its workforce, effective immediately.[21]

On May 3, 2016, Biogen announced to spin off its hemophilia business, known as Bioverativ. The hemophilia business would become an independent publicly-traded company. Bioverativ offered two hemophilia drugs in 2016, Alprolix and Eloctate, and plans on developing its Hemophilia-focused goals.[22]

In 2016, Biogen released Spinraza (nusersin), a treatment for Spinal Muscular Atrophy. The drug is among the most expensive treatments available, with a price of $750,000 for the first year of doses, and $375,000 for each subsequent year and likely for the rest of a patient's life.[23] While there still isn’t a cure, Spinraza significantly improves the quality of life in infants and adults.

In 2017, Biogen announced that its drug Fampyra converted from conditional marketing authorization to standard marketing approval. EU multiple sclerosis (MS) patients use Fampyra to improve walking.[17]

In February 2020, Biogen and Sangamo Therapeutics announced a global licensing deal to develop compounds for neuromuscular and neurological diseases.[24]

In September 2020, Biogen Inc. made a $10 million deposit in OneUnited Bank to provide more capital to fund home loans and commercial development in Black communities.[25] In November, the company announced it would acquire a $650 million stake in Sage Therapeutics and make an upfront payment of $875 million, in order to jointly develop a number of depression treatments.[26]

Aducanumab

In 2007, the company reached a licensing agreement with Neurimmune, a spin-off from the University of Zurich, for the Alzheimer's disease drug Aducanumab developed by this Swiss company. Later, Neurimmune sold its rights for license fees for $200 million to Biogen.[5]

In December 2014, Biogen announced that its Aducanumab drug for Alzheimer’s treatment is preparing to go through a late-stage trial of its experimental Alzheimer's disease treatment after the medication dramatically improved cognition and reduced brain plaque levels in early-stage study.[27]

In March 2015, Biogen’s Aducanumab drug for Alzheimer’s treatment becomes the first experimental Alzheimer’s treatment to show significant results in regard to slowing down cognitive decline and reducing brain-destroying plaques.[28]

In July 2015, Biogen initiates two late-stage studies called ENGAGE and EMERGE, which will assess Aducanumab in adults with early Alzheimer's disease.[29]

In 2016, Biogen’s Aducanumab decreases amoyloid-beta in the brains of people with early-stage Alzheimer's disease, according to a report published in Nature on August 31, 2016.[30]

On March 21, 2019, Biogen announced that the Phase 3 clinical trials of Aducanumab were halted.[31]

In March 2019, Biogen announced it would acquire Nightstar Therapeutics for $25.50 per share ($800 million in total). Nightstar focus on adeno-associated virus based gene-therapies for inherited retinal disorders.[32][33] With a setback in their Alzheimer's drug research, in March 2019 Biogen's shares fell sharply.[34] It ended the trial of its drug aducanumab, which it was making along with Eisai.[35] In October 2019, however, they announced that they would pursue FDA approval for aducanumab together with Eisai.[36]

On October 22, 2019, despite two Phase 3 clinical trials being previously halted for futility, Biogen announced its plan to submit for the FDA’s approval of Aducanumab.[37]

In May 2020, Biogen wrapped up construction on a state-of-the-art facility in Solothurn, Switzerland, which will produce the Alzheimer's drug aducanumab by late 2021, alongside its North Carolina manufacturing facility. The monoclonal antibody, co-developed with Eisai, attracted considerable interest from biotech investors when Warren Buffett's Berkshire Hathaway bought 648,447 Biogen shares at a combined value of $192.4 million.[38]

On July 8, 2020, Biogen and Eisai announced that both companies had together successfully submitted for Aducanumab’s FDA regulatory and marketing approval.[39]

On June 7, 2021, the FDA gave accelerated approval to aducanumab under the name Aduhelm,[40] which proved to be controversial.[41][42] The drug was priced at $56,000 US dollars per year but it is not covered by many insurers as they wait for further proof that the drug is effective.[43] Also the US Government will not subsidise it outside clinical trials.[44] According to the Food and Treatment Administration's website, the drug is proven to reduce amyloid-beta plaques in the brain, which is likely to benefit patients. The FDA has stated that if the post-approval trial does not indicate that Aduhelm works, the drug may be taken out of the market.[45]

Bioverativ

In May 2016, the company announced that it would spin off its hemophilia drug business (Eloctate and Alprolix) into a public company.[46] In August, the company announced that the spun off company would be called Bioverativ, in order to show heritage with Biogen.[47] The company would trade on the NASDAQ exchange under the ticker symbol BIVV[48][49] and would look to be spun off in early 2017.[50] Bioverativ was acquired by Sanofi in 2018.

Acquisition history

The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):

Biogen
Biogen IDEC

Biogen
(Founded 1978)

IDEC Pharmaceuticals

Conforma Therapeutics
(Acq 2006)

Fumapharm AG
(Acq 2006)

Syntonix Pharmaceuticals
(Acq 2007)

Convergence Pharmaceuticals
(Acq 2015)

Nightstar Therapeutics
(Acq 2019)

COVID-19 pandemic

On March 5, Biogen reported that three individuals who met with their employees at a conference in Boston had tested positive for COVID-19 the previous week.[51] On March 6, public health officials reported five new cases associated with the Biogen leadership meeting[52][53] and by March 9, Massachusetts health officials had announced 30 new presumptive COVID-19 cases, all connected to the Biogen conference.[54][55] Researchers first estimated that the conference would be linked to over 20,000 of the state's coronavirus cases.[56][57] Researchers later estimated that up to 300,000 cases worldwide had been caused by the Biogen conference, including 1.6% of all U.S. cases of the coronavirus.[57]

Finances

For the fiscal year 2017, Biogen reported earnings of US$2.539 billion, with an annual revenue of US$12.274 billion, an increase of 7.2% over the previous fiscal cycle. Biogen's shares traded at over $289 per share, and its market capitalization was valued at over US$63 billion in November 2018.[58] The company ranked 228 on the 2021 Fortune 500 list of the largest United States corporations by revenue.[59]

Year Revenue
in mil. USD$
Net income
in mil. USD$
Total Assets
in mil. USD$
Price per Share
in USD$
Employees
2005 2,423 161 8,382 39.89
2006 2,683 218 8,553 42.39
2007 3,172 638 8,629 52.16
2008 4,098 783 8,479 51.09
2009 4,377 970 8,552 45.11
2010 4,716 1,005 8,092 51.95
2011 5,049 1,234 9,050 84.78
2012 5,516 1,380 10,130 125.83
2013 6,932 1,862 11,863 198.43 6,850
2014 9,703 2,935 14,315 293.10 7,550
2015 10,764 3,547 19,505 324.99 7,350
2016 11,449 3,703 22,877 258.27 7,400
2017 12,274 2,539 23,653 289.19 7,300
2018[60] 13,453 4,431 25,289 7,800
2019[61] 14,378 5,889 27,234 7,400
2020[62] 13,445 4,001 24,619 9,100

Products

Therapy Indication (In United States unless otherwise noted) Year Approved (US) Year Approved (EU) Additional Information
ADUHELM™ [(aducanumab) Human Immunoglobulin Gamma 1 (IgG1) monoclonal antibody] Indicated for all stages of Alzheimer’s disease, including patients with confirmed presence of amyloid pathology and mild cognitive impairment or mild dementia. 2021 (pending) U.S. FDA accelerated approval.

Biogen and Japanese Eisai are collaborators in the development and commercialization of ADUHELM.[63]

ALPROLIX™ [Coagulation Factor IX (Recombinant), Fc Fusion Protein] Control and prevention of bleeding episodes, perioperative management and routine prophylaxis in adults and children with hemophilia B 2021 1993 Also approved in Canada and Australia.

Biogen and Swedish Orphan Biovitrum (Sobi) are collaborators in the development and commercialization of ALPROLIX.[64]

AVONEX® (interferon beta-1a) Relapsing forms of multiple sclerosis 1996 1997 Includes the AVONEX PEN auto-injector and the AVOSTARTGRIP titration kit approved in the U.S. in 2012.[65]
ELOCTATE™ [Antihemophilic Factor (Recombinant), Fc Fusion Protein] Control and prevention of bleeding episodes, perioperative (surgical) management and routine prophylaxis in adults and children with hemophilia A 2014 1999 Biogen and Swedish Orphan Biovitrum (Sobi) are collaborators in the development and commercialization of ELOCTATE.[66]
FAMPYRA (prolonged-release fampridine tablets) Multiple sclerosis (Walking ability) 2010 2011 Marketed by Biogen in markets outside of the United States.

Commercialized in the United States as AMPYRA (dalfampridine) Extended Release Tablets, by Acorda Therapeutics.[67]

FUMADERM (fumaric acid esters) Psoriasis German use 1994 (Germany only) Approved in Germany.

Acquired in acquisition of Fumapharm AG in 2006.[68]

GAZYVA (obinutuzumab) Chronic lymphocytic leukemia 2013 2014 The first medicine approved with the FDA's Breakthrough Therapy Designation and is also currently in Phase 3 trials for NHL and diffuse large B-cell lymphoma.

Currently commercialized in the United States by Genentech, a wholly owned subsidiary of Roche.[69]

IMRALDI (adalimumab) Immunosuppressive drug to treat autoimmune disorders such as inflammatory bowel disease 2019 2018 Biosimilar of AbbVie's Humira.[70][71]
SPINRAZA (nusinersen) Spinal muscular atrophy (SMA) 2016 2017 The first drug approved for the treatment of spinal muscular atrophy, developed in collaboration with Ionis Pharmaceuticals.[72][73]
PLEGRIDY (peginterferon beta-1a) Relapsing forms of multiple sclerosis 2014[74] 2014[75]
RITUXAN (rituximab) Non-Hodgkin lymphoma (NHL)

Anti-TNF Refractory Rheumatoid Arthritis

ANCA-Associated Vasculitis

Chronic lymphocytic leukemia

1997[76]

2006[77]

2011[78]

1998 (as MabThera) The first monoclonal antibody for cancer developed by IDEC, prior to merging with Biogen.

Currently commercialized by Roche and its subsidiary, Genentech.

TECFIDERA (dimethyl fumarate) Relapsing forms of multiple sclerosis 2013[79] 2014[80]
TYSABRI (natalizumab) Relapsing-remitting multiple sclerosis 2004 Re-introduced in 2006 2006 Full rights purchased from partner Elan in 2013.[81]

Pipeline

Biogen focused its R&D efforts on the discovery and development of treatments for patients with high unmet medical needs in the areas of neurology, hematology, and immunology.[citation needed]

Investigational MS medicines:

  • Daclizumab High-Yield Process (DAC HYP): is being developed as a potential once-monthly subcutaneous injection in the treatment of relapsing-remitting multiple sclerosis (RRMS). DAC HYP is being developed in collaboration with Abbvie, Inc. In June 2014, the companies announced positive top-line results from the Phase III DECIDE clinical trial, where DAC HYP demonstrated superiority over interferon beta-1a in annualized relapse rate.[82]
  • Anti-LINGO-1 (BIIB033) (Opicinumab): is the first candidate being investigated for its potential to remyelinate and repair neurons damaged by MS, currently in Phase 2 trials.[83]

Biogen has several candidates in Phase 1 and 2 clinical trials in neurodegenerative and immunological diseases including MS, neuropathic pain, spinal muscular atrophy and lupus nephritis:

  • Phase 2a: anti-LINGO-1 molecule (Opicinumab) in acute optic neuritis
  • Phase 2b: anti-TWEAK monoclonal antibody in lupus nephritis
  • Phase 2a: STX-100 in patients with idiopathic pulmonary fibrosis
  • Phase 2: Neublastin for neuropathic pain in 2013
  • Phase 1/2: BIIB067 (ISIS-SOD1Rx) for amyotrophic lateral sclerosis, in collaboration with Ionis

Biogen also has several development agreements in place with Ionis Pharmaceuticals to collaborate to leverage antisense technology in advancing the treatment of neurological disorders.[84]

In February 2012, Biogen formalized a joint venture with Samsung, creating Samsung Bioepis. This joint venture brings Biogen's expertise and capabilities in protein engineering, cell line development, and recombinant biologics manufacturing to position the joint venture so Biogen can participate in the emerging market for biosimilars.[85]

In early 2014, Biogen entered into an agreement with Eisai, Inc., to jointly develop and commercialize two of their candidates for Alzheimer's disease, which have the potential to reduce Aβ plaques that form in the brains of patients, as well as to slow the formation of new plaques, potentially improving symptoms and suppressing disease progression.[86]

Biogen also has since 2015 an agreement with AGTC to develop gene therapy for several genetic diseases, including X-linked retinoschisis (XLRS) and X-linked Retinitis pigmentosa (XLRP) ophthalmologic diseases. To this aim, Biogen paid AGTC $124 million, including an equity investment of $30 million, and up to 1,1 billion in future milestones.[87]

In March 2019, Biogen halted Phase 3 trials of Alzheimer's disease drug Aducanumab after "an independent group's analysis show[ed] that the trials were unlikely to 'meet their primary endpoint.'"[88] However, in October 2019 they reversed their plans and said that they would be pursuing US FDA approval for Aducanumab. The reversal came after Biogen said a new analysis of a larger patient pool showed promising results.[36] In July 2020, Biogen completed submission of a Biologics license application (BLA) to the FDA for review, and requested accelerated review.[89] However, an advisory panel for the FDA voted against approval of this drug.[90] On June 7, 2021 the FDA granted approval of Aducanumab for the treatment of Alzheimer's disease. Aducanumab was approved using the accelerated approval pathway, and Biogen will be required to conduct a post-approval clinical trial to verify clinical benefit for continued approval.[91]

Lawsuits

In September 2022, Biogen agreed to pay $900 million to the U.S. federal governments, states, and a whistleblower who accused the company of paying kickbacks to doctors between 2009 and 2014 to increase prescriptions of Avonex, Tysabri, and Tecfidera (all for multiple sclerosis).[92]

See also

References

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  92. ^ Biogen pays $900m to settle whistle-blower suit over kickbacks

External links

  • Official website
  • Business data for Biogen:
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biogen, american, multinational, biotechnology, company, based, cambridge, massachusetts, specializing, discovery, development, delivery, therapies, treatment, neurological, diseases, patients, worldwide, headquarters, formerly, idec, 2003, 2015, typepublic, c. Biogen Inc is an American multinational biotechnology company based in Cambridge Massachusetts specializing in the discovery development and delivery of therapies for the treatment of neurological diseases to patients worldwide 4 Biogen Inc The Biogen headquarters 1 FormerlyBiogen Idec Inc 2003 2015 TypePublic companyTraded asNasdaq BIIBNASDAQ 100 componentS amp P 500 componentIndustryBiotechnologyFounded1978 45 years ago 1978 FoundersKenneth MurrayPhillip Allen SharpWalter GilbertHeinz Schaller Charles WeissmannHeadquartersCambridge Massachusetts U S Key peopleStelios Papadopoulos Chairman Christopher Viehbacher CEO ProductsAvonex Fampyra Plegridy Tecfidera Tysabri SpinrazaRevenueUS 10 981 billion 2021 2 Operating incomeUS 2 84 billion 2021 2 Net incomeUS 1 727 billion 2021 2 Total assetsUS 23 877 billion 2021 2 Total equityUS 10 96 billion 2021 2 Number of employees9 100 2020 3 Websitebiogen wbr comFootnotes references Commercialized by Genentech Roche Contents 1 History 1 1 Aducanumab 1 2 Bioverativ 1 3 Acquisition history 1 4 COVID 19 pandemic 2 Finances 3 Products 4 Pipeline 5 Lawsuits 6 See also 7 References 8 External linksHistory EditBiogen was founded in 1978 in Geneva as Biotechnology Geneva by several prominent biologists including Kenneth Murray from the University of Edinburgh Phillip Allen Sharp from the Massachusetts Institute of Technology Walter Gilbert from Harvard University Gilbert served as CEO during the start up phase of Biogen Heinz Schaller from the University of Heidelberg and Charles Weissmann from the University of Zurich Weissmann contributed the first product interferon alpha 5 6 Gilbert and Sharp were subsequently honored with Nobel Prizes Gilbert was recognized in 1980 with the Nobel Prize in Chemistry for his understanding of DNA sequencing and Sharp received the Nobel Prize in Physiology or Medicine in 1993 for his discovery of split genes citation needed In 2003 Biogen merged with San Diego California based IDEC Pharmaceuticals formed in 1985 by University of California San Diego s physicians and immunologists Ivor Royston and Robert E Sobol San Diego bio entrepreneur Howard Birndorf and Stanford University cancer researchers Ron Levy and Richard Miller and adopted the name Biogen Idec 7 8 After the merger Biogen Idec became the 3rd largest Biotechnology company in the world 9 Following shifts in research core areas the company has since shortened its name reverting to simply Biogen 10 Biogen stock is a component of several stock indices such as the S amp P 100 S amp P 500 S amp P 1500 and NASDAQ 100 and the company is listed on the NASDAQ stock exchange under the ticker symbol BIIB 11 In May 2006 the company announced it would acquire cancer specialist Conforma Therapeutics for 250 million 12 Later in the same month the company announced its intention to acquire Fumapharm AG consolidating ownership of Fumaderm and BG 12 an oral fumarate which was being studied for the treatment of multiple sclerosis and psoriasis 13 In January 2007 the company announced it would acquire Syntonix Pharmaceuticals for up to 120 million gaining Syntonix s lead product for hemophilia B as well as the technology for developing inhalable treatments 14 15 In 2008 two new brain infection cases from Tysabri users surfaced in Europe that raised international concern about Tysabri and its effects with the progressive multifocal leukoencephalopathy PML brain condition Biogen is one of the drug s producers 16 In 2011 Biogen announced that its drug Fampyra received conditional marketing approval Under the conditional approval Biogen agrees to provide additional data on the long term benefits and safety of Fampyra 17 On December 10 2012 Biogen announced its global collaboration agreement with Isis Pharmaceuticals to develop and research antisense drugs to treat neurological and neuromuscular diseases 18 In February 2013 Bloomberg broke the news that Biogen was planning to pay Elan 3 25 billion for the full rights to Tysabri used to treat multiple sclerosis 19 In January 2015 the company announced that it would acquire Convergence Pharmaceuticals for up to 675 million with the acquisition aiming to accelerate the development of Convergence s pipeline in particular CNV1014802 a Phase II small molecule sodium channel blocking candidate 20 In October 2015 the company announced that it would lay off 11 of its workforce effective immediately 21 On May 3 2016 Biogen announced to spin off its hemophilia business known as Bioverativ The hemophilia business would become an independent publicly traded company Bioverativ offered two hemophilia drugs in 2016 Alprolix and Eloctate and plans on developing its Hemophilia focused goals 22 In 2016 Biogen released Spinraza nusersin a treatment for Spinal Muscular Atrophy The drug is among the most expensive treatments available with a price of 750 000 for the first year of doses and 375 000 for each subsequent year and likely for the rest of a patient s life 23 While there still isn t a cure Spinraza significantly improves the quality of life in infants and adults In 2017 Biogen announced that its drug Fampyra converted from conditional marketing authorization to standard marketing approval EU multiple sclerosis MS patients use Fampyra to improve walking 17 In February 2020 Biogen and Sangamo Therapeutics announced a global licensing deal to develop compounds for neuromuscular and neurological diseases 24 In September 2020 Biogen Inc made a 10 million deposit in OneUnited Bank to provide more capital to fund home loans and commercial development in Black communities 25 In November the company announced it would acquire a 650 million stake in Sage Therapeutics and make an upfront payment of 875 million in order to jointly develop a number of depression treatments 26 Aducanumab Edit Main article Aducanumab In 2007 the company reached a licensing agreement with Neurimmune a spin off from the University of Zurich for the Alzheimer s disease drug Aducanumab developed by this Swiss company Later Neurimmune sold its rights for license fees for 200 million to Biogen 5 In December 2014 Biogen announced that its Aducanumab drug for Alzheimer s treatment is preparing to go through a late stage trial of its experimental Alzheimer s disease treatment after the medication dramatically improved cognition and reduced brain plaque levels in early stage study 27 In March 2015 Biogen s Aducanumab drug for Alzheimer s treatment becomes the first experimental Alzheimer s treatment to show significant results in regard to slowing down cognitive decline and reducing brain destroying plaques 28 In July 2015 Biogen initiates two late stage studies called ENGAGE and EMERGE which will assess Aducanumab in adults with early Alzheimer s disease 29 In 2016 Biogen s Aducanumab decreases amoyloid beta in the brains of people with early stage Alzheimer s disease according to a report published in Nature on August 31 2016 30 On March 21 2019 Biogen announced that the Phase 3 clinical trials of Aducanumab were halted 31 In March 2019 Biogen announced it would acquire Nightstar Therapeutics for 25 50 per share 800 million in total Nightstar focus on adeno associated virus based gene therapies for inherited retinal disorders 32 33 With a setback in their Alzheimer s drug research in March 2019 Biogen s shares fell sharply 34 It ended the trial of its drug aducanumab which it was making along with Eisai 35 In October 2019 however they announced that they would pursue FDA approval for aducanumab together with Eisai 36 On October 22 2019 despite two Phase 3 clinical trials being previously halted for futility Biogen announced its plan to submit for the FDA s approval of Aducanumab 37 In May 2020 Biogen wrapped up construction on a state of the art facility in Solothurn Switzerland which will produce the Alzheimer s drug aducanumab by late 2021 alongside its North Carolina manufacturing facility The monoclonal antibody co developed with Eisai attracted considerable interest from biotech investors when Warren Buffett s Berkshire Hathaway bought 648 447 Biogen shares at a combined value of 192 4 million 38 On July 8 2020 Biogen and Eisai announced that both companies had together successfully submitted for Aducanumab s FDA regulatory and marketing approval 39 On June 7 2021 the FDA gave accelerated approval to aducanumab under the name Aduhelm 40 which proved to be controversial 41 42 The drug was priced at 56 000 US dollars per year but it is not covered by many insurers as they wait for further proof that the drug is effective 43 Also the US Government will not subsidise it outside clinical trials 44 According to the Food and Treatment Administration s website the drug is proven to reduce amyloid beta plaques in the brain which is likely to benefit patients The FDA has stated that if the post approval trial does not indicate that Aduhelm works the drug may be taken out of the market 45 Bioverativ Edit In May 2016 the company announced that it would spin off its hemophilia drug business Eloctate and Alprolix into a public company 46 In August the company announced that the spun off company would be called Bioverativ in order to show heritage with Biogen 47 The company would trade on the NASDAQ exchange under the ticker symbol BIVV 48 49 and would look to be spun off in early 2017 50 Bioverativ was acquired by Sanofi in 2018 Acquisition history Edit The following is an illustration of the company s major mergers and acquisitions and historical predecessors this is not a comprehensive list Biogen Biogen IDEC Biogen Founded 1978 IDEC PharmaceuticalsConforma Therapeutics Acq 2006 Fumapharm AG Acq 2006 Syntonix Pharmaceuticals Acq 2007 Convergence Pharmaceuticals Acq 2015 Nightstar Therapeutics Acq 2019 COVID 19 pandemic Edit See also COVID 19 pandemic On March 5 Biogen reported that three individuals who met with their employees at a conference in Boston had tested positive for COVID 19 the previous week 51 On March 6 public health officials reported five new cases associated with the Biogen leadership meeting 52 53 and by March 9 Massachusetts health officials had announced 30 new presumptive COVID 19 cases all connected to the Biogen conference 54 55 Researchers first estimated that the conference would be linked to over 20 000 of the state s coronavirus cases 56 57 Researchers later estimated that up to 300 000 cases worldwide had been caused by the Biogen conference including 1 6 of all U S cases of the coronavirus 57 Finances EditFor the fiscal year 2017 Biogen reported earnings of US 2 539 billion with an annual revenue of US 12 274 billion an increase of 7 2 over the previous fiscal cycle Biogen s shares traded at over 289 per share and its market capitalization was valued at over US 63 billion in November 2018 58 The company ranked 228 on the 2021 Fortune 500 list of the largest United States corporations by revenue 59 Year Revenuein mil USD Net incomein mil USD Total Assetsin mil USD Price per Sharein USD Employees2005 2 423 161 8 382 39 892006 2 683 218 8 553 42 392007 3 172 638 8 629 52 162008 4 098 783 8 479 51 092009 4 377 970 8 552 45 112010 4 716 1 005 8 092 51 952011 5 049 1 234 9 050 84 782012 5 516 1 380 10 130 125 832013 6 932 1 862 11 863 198 43 6 8502014 9 703 2 935 14 315 293 10 7 5502015 10 764 3 547 19 505 324 99 7 3502016 11 449 3 703 22 877 258 27 7 4002017 12 274 2 539 23 653 289 19 7 3002018 60 13 453 4 431 25 289 7 8002019 61 14 378 5 889 27 234 7 4002020 62 13 445 4 001 24 619 9 100Products EditTherapy Indication In United States unless otherwise noted Year Approved US Year Approved EU Additional InformationADUHELM aducanumab Human Immunoglobulin Gamma 1 IgG1 monoclonal antibody Indicated for all stages of Alzheimer s disease including patients with confirmed presence of amyloid pathology and mild cognitive impairment or mild dementia 2021 pending U S FDA accelerated approval Biogen and Japanese Eisai are collaborators in the development and commercialization of ADUHELM 63 ALPROLIX Coagulation Factor IX Recombinant Fc Fusion Protein Control and prevention of bleeding episodes perioperative management and routine prophylaxis in adults and children with hemophilia B 2021 1993 Also approved in Canada and Australia Biogen and Swedish Orphan Biovitrum Sobi are collaborators in the development and commercialization of ALPROLIX 64 AVONEX interferon beta 1a Relapsing forms of multiple sclerosis 1996 1997 Includes the AVONEX PEN auto injector and the AVOSTARTGRIP titration kit approved in the U S in 2012 65 ELOCTATE Antihemophilic Factor Recombinant Fc Fusion Protein Control and prevention of bleeding episodes perioperative surgical management and routine prophylaxis in adults and children with hemophilia A 2014 1999 Biogen and Swedish Orphan Biovitrum Sobi are collaborators in the development and commercialization of ELOCTATE 66 FAMPYRA prolonged release fampridine tablets Multiple sclerosis Walking ability 2010 2011 Marketed by Biogen in markets outside of the United States Commercialized in the United States as AMPYRA dalfampridine Extended Release Tablets by Acorda Therapeutics 67 FUMADERM fumaric acid esters Psoriasis German use 1994 Germany only Approved in Germany Acquired in acquisition of Fumapharm AG in 2006 68 GAZYVA obinutuzumab Chronic lymphocytic leukemia 2013 2014 The first medicine approved with the FDA s Breakthrough Therapy Designation and is also currently in Phase 3 trials for NHL and diffuse large B cell lymphoma Currently commercialized in the United States by Genentech a wholly owned subsidiary of Roche 69 IMRALDI adalimumab Immunosuppressive drug to treat autoimmune disorders such as inflammatory bowel disease 2019 2018 Biosimilar of AbbVie s Humira 70 71 SPINRAZA nusinersen Spinal muscular atrophy SMA 2016 2017 The first drug approved for the treatment of spinal muscular atrophy developed in collaboration with Ionis Pharmaceuticals 72 73 PLEGRIDY peginterferon beta 1a Relapsing forms of multiple sclerosis 2014 74 2014 75 RITUXAN rituximab Non Hodgkin lymphoma NHL Anti TNF Refractory Rheumatoid ArthritisANCA Associated VasculitisChronic lymphocytic leukemia 1997 76 2006 77 2011 78 1998 as MabThera The first monoclonal antibody for cancer developed by IDEC prior to merging with Biogen Currently commercialized by Roche and its subsidiary Genentech TECFIDERA dimethyl fumarate Relapsing forms of multiple sclerosis 2013 79 2014 80 TYSABRI natalizumab Relapsing remitting multiple sclerosis 2004 Re introduced in 2006 2006 Full rights purchased from partner Elan in 2013 81 Pipeline EditBiogen focused its R amp D efforts on the discovery and development of treatments for patients with high unmet medical needs in the areas of neurology hematology and immunology citation needed Investigational MS medicines Daclizumab High Yield Process DAC HYP is being developed as a potential once monthly subcutaneous injection in the treatment of relapsing remitting multiple sclerosis RRMS DAC HYP is being developed in collaboration with Abbvie Inc In June 2014 the companies announced positive top line results from the Phase III DECIDE clinical trial where DAC HYP demonstrated superiority over interferon beta 1a in annualized relapse rate 82 Anti LINGO 1 BIIB033 Opicinumab is the first candidate being investigated for its potential to remyelinate and repair neurons damaged by MS currently in Phase 2 trials 83 Biogen has several candidates in Phase 1 and 2 clinical trials in neurodegenerative and immunological diseases including MS neuropathic pain spinal muscular atrophy and lupus nephritis Phase 2a anti LINGO 1 molecule Opicinumab in acute optic neuritis Phase 2b anti TWEAK monoclonal antibody in lupus nephritis Phase 2a STX 100 in patients with idiopathic pulmonary fibrosis Phase 2 Neublastin for neuropathic pain in 2013 Phase 1 2 BIIB067 ISIS SOD1Rx for amyotrophic lateral sclerosis in collaboration with IonisBiogen also has several development agreements in place with Ionis Pharmaceuticals to collaborate to leverage antisense technology in advancing the treatment of neurological disorders 84 In February 2012 Biogen formalized a joint venture with Samsung creating Samsung Bioepis This joint venture brings Biogen s expertise and capabilities in protein engineering cell line development and recombinant biologics manufacturing to position the joint venture so Biogen can participate in the emerging market for biosimilars 85 In early 2014 Biogen entered into an agreement with Eisai Inc to jointly develop and commercialize two of their candidates for Alzheimer s disease which have the potential to reduce Ab plaques that form in the brains of patients as well as to slow the formation of new plaques potentially improving symptoms and suppressing disease progression 86 Biogen also has since 2015 an agreement with AGTC to develop gene therapy for several genetic diseases including X linked retinoschisis XLRS and X linked Retinitis pigmentosa XLRP ophthalmologic diseases To this aim Biogen paid AGTC 124 million including an equity investment of 30 million and up to 1 1 billion in future milestones 87 In March 2019 Biogen halted Phase 3 trials of Alzheimer s disease drug Aducanumab after an independent group s analysis show ed that the trials were unlikely to meet their primary endpoint 88 However in October 2019 they reversed their plans and said that they would be pursuing US FDA approval for Aducanumab The reversal came after Biogen said a new analysis of a larger patient pool showed promising results 36 In July 2020 Biogen completed submission of a Biologics license application BLA to the FDA for review and requested accelerated review 89 However an advisory panel for the FDA voted against approval of this drug 90 On June 7 2021 the FDA granted approval of Aducanumab for the treatment of Alzheimer s disease Aducanumab was approved using the accelerated approval pathway and Biogen will be required to conduct a post approval clinical trial to verify clinical benefit for continued approval 91 Lawsuits EditIn September 2022 Biogen agreed to pay 900 million to the U S federal governments states and a whistleblower who accused the company of paying kickbacks to doctors between 2009 and 2014 to increase prescriptions of Avonex Tysabri and Tecfidera all for multiple sclerosis 92 See also EditNeurological diseases Kenneth Murray Eisai Tim Harris biochemist References Edit Biogen global offices Biogen Retrieved 17 January 2022 a b c d e Biogen Inc 2021 Annual Report investors biogen com 31 December 2021 Retrieved 4 February 2022 Biogen Inc 2017 Annual Report Form 10 K SEC U S Securities and Exchange Commission January 2021 Biogen Inc Bloomberg a b Werner Grundlehner Zurcher Antikorper gegen Alzheimer hat Milliardenpotenzial und Gegenwind Neue Zurcher Zeitung June 8 2021 Retrieved June 8 2021 Biotech s Comeback Kid Forbes Retrieved 2012 12 04 The San Diego Technology Archive Biogen and IDEC Pharmaceuticals Announce Merger To Create a New Biotechnology Industry Leader Exhibit 99 1 Retrieved 1 December 2018 IDEC Founded in 1985 to develop monoclonal antibodies Founders include Ivor Royston Howard Birndorf Richard Miller and Brook Byers Pollack Andrew 24 June 2003 Idec to Merge With Biogen in 6 8 Billion Deal New York Times Retrieved 2003 06 24 Dulaney Chelsey 23 March 2015 Biogen Drops Idec From Name Wall Street Journal Retrieved 2015 03 23 Biogen Idec Inc Stock Quote amp Summary Data NASDAQ Biogen Idec agrees to buy Swiss company Fumapharm Pharma Times 2006 06 01 Retrieved 2017 12 28 Biogen Idec to Acquire Fumapharm AG Consolidates Ownership of Oral Compound BG 12 Being Studied for Multiple Sclerosis Businesswire Retrieved 2017 12 28 Biogen to buy Syntonix in 120M deal FierceBiotech Fierce Biotech 3 January 2007 Retrieved 2017 12 28 Biogen Idec to Acquire Syntonix Businesswire Retrieved 2017 12 28 Health Highlights August 1 2008 ABC News Retrieved 2021 09 11 a b TMX Money money tmx com Retrieved 2021 10 05 Biogen Idec and Isis Pharmaceuticals Announce Collaboration For Antisense Programs To Treat Neurological Disorders Ionis Pharmaceuticals Inc ir ionispharma com Retrieved 2021 10 05 Biogen to Pay Elan 3 25 Billion for Full Tysabri Rights Bloomberg 2013 02 06 Retrieved 2017 12 28 Biogen Idec Snaps Up Convergence for Up to 675M GEN News Highlights GEN 12 January 2015 Biogen is cutting 11 of its workforce Business Insider Biogen puzzles Wall Street with plans to spin off its hemophilia business STAT 2016 05 03 Retrieved 2021 10 05 Katie Thomas Costly Drug for Fatal Muscular Disease Wins F D A Approval New York Times Retrieved 2022 02 28 Biogen and Sangamo Ink 2 7 Billion Neurodegeneration Deal BioSpace Retrieved 2020 02 28 Staff Report Biotech company partners with Black owned bank The Miami Times Retrieved 2020 09 13 Reuters Pierson Ransdell 2014 12 02 Biogen plans late stage Alzheimer s trial shares rise Reuters Retrieved 2021 09 11 Berkrot Bill 2015 03 20 Biogen s Alzheimer s drug slows mental decline in early study Reuters Retrieved 2021 09 11 Biogen Enrolls First Patient in Global Phase 3 Study of Investigational Treatment Aducanumab BIIB037 for Early Alzheimer s Disease www businesswire com 2015 09 08 Retrieved 2021 09 11 Kirsten Investigational antibody treatment yields exciting though preliminary results UCI MIND Retrieved 2021 10 11 Kirsten Phase 3 Trials of Aducanumab Halted UCI MIND Retrieved 2021 10 11 BIOGEN ANNOUNCES AGREEMENT TO ACQUIRE NIGHTSTAR THERAPEUTICS TO ESTABLISH CLINICAL PIPELINE OF GENE THERAPY CANDIDATES IN OPHTHALMOLOGY BioSpace Retrieved 2 June 2019 Biogen Banks on Ophthalmology Gene Therapies With 800 Million Acquisition of Nightstar BioSpace Retrieved 2 June 2019 Annett Timothy 21 March 2019 Biogen shares plunge after Alzheimer s drug setback The Boston Globe Retrieved 2 June 2019 Li Yun 21 March 2019 Biogen posts its the worst day in 14 years after ending trial for blockbuster Alzheimer s drug CNBC Retrieved 2 June 2019 a b Jacqueline Howard Jamie Gumbrecht 22 October 2019 Drugmaker to seek approval for Alzheimer s treatment CNN Retrieved 2019 10 23 Chelsea Biogen s About Face UCI MIND Retrieved 2021 10 11 Kyle Blankenship May 7 2020 Biogen gears up Swiss manufacturing facility for potential aducanumab rollout Fierce Pharma Manufacturing Retrieved 9 June 2021 Kirsten Biogen and Eisai submit aducanumab for FDA approval UCI MIND Retrieved 2021 10 11 Commissioner Office of the 2021 06 07 FDA Grants Accelerated Approval for Alzheimer s Drug FDA Retrieved 2022 03 22 Belluck Pam Kaplan Sheila Robbins Rebecca 2021 07 20 How an Unproven Alzheimer s Drug Got Approved The New York Times ISSN 0362 4331 Retrieved 2022 03 22 Lovelace Berkeley Jr 2021 07 09 Biogen stock falls after FDA calls for federal investigation into Alzheimer s drug approval CNBC Retrieved 2022 03 22 King Robert 2021 11 22 Major insurers won t pay for Biogen s Alzheimer s drug until they get more proof that it works Bloomberg survey Fierce Healthcare Retrieved 2022 03 22 Liu Angus 2022 01 12 For Biogen s Aduhelm narrow coverage from CMS could effectively spell the end analyst Fierce Pharma Retrieved 2022 03 22 Steenhuysen Julie Beasley Deena 2021 06 08 U S approval of Biogen Alzheimer s drug sends shares soaring hailed as big day for patients Reuters Retrieved 2021 10 11 D Souza Savio May 3 2016 Biogen to spin off hemophilia drug business into a public company Reuters Retrieved May 3 2016 Amid takeover chatter Biogen introduces hemophilia spinoff Bioverativ FiercePharma 10 August 2016 Biogen Announces Bioverativ as Name of New Hemophilia Focused Company Business Wire Businesswire Press release Retrieved 2017 12 28 Biogen unveils name for hemophilia drug spinoff Bioverativ Boston Globe Biogen Announces Bioverativ as Name of New Hemophilia Focused Company Biogen Media Archived from the original on 2016 08 13 Retrieved 2016 08 11 3 Who Attended Biogen Meeting in Boston Test Positive for Coronavirus NBC Boston Retrieved 2020 03 09 Coronavirus Cases Linked to Biogen Boston Meeting What We Know NBC Boston Retrieved 2020 03 09 Workers who attended Boston Biogen meeting test positive for coronavirus WCVB 2020 03 06 Retrieved 2020 03 09 Live updates Multiple Mass schools closed Monday after 15 new presumptive positive COVID 19 cases reported WFXT Retrieved 2020 03 09 Top Biogen execs were at meeting where attendees had Covid 19 STAT 2020 03 06 Retrieved 2020 03 09 Biogen Conference May Be Tied To 20 000 Massachusetts Coronavirus Cases CBS Boston 2020 08 25 Retrieved 2020 08 25 a b Genetic Fingerprints Suggest Superspreader Biogen Conference Seeded 40 Of Boston Coronavirus Cases www wbur org Retrieved 2021 09 27 Biogen Revenue 2006 2018 BIIB Macro Trends Retrieved 2018 11 05 Fortune 500 Companies 2021 Who Made the List Fortune Retrieved 2022 02 08 2018 Annual Report biogen com Retrieved 17 March 2022 2019 Annual Report biogen com Retrieved 17 March 2022 2020 Annual Report biogen com Retrieved 18 March 2022 ADUHELMTM aducanumab avwa injection for intravenous use prescribing Information PDF FDA gov Retrieved 2021 06 09 Does Biogen Idec Inc Have a New Blockbuster Hemophilia Therapy The Motley Fool Retrieved 2014 07 04 Avonex National MS Society Biogen Idec s Eloctate gains FDA approval The Pharma Letter Retrieved 2014 09 06 Fampridine Fampyra MS Trust Biogen Idec enters deal to acquire Fumapharm First Word Pharma Retrieved 2006 05 31 FDA approves Gazyva for chronic lymphocytic leukemia FDA Retrieved 2013 01 11 FDA Approves Adalimumab Biosimilar Samsung Bioepis Hadlima The Center For Biosimilars Retrieved 2021 06 07 IMRALDI Biogen s Adalimumab Biosimilar Referencing Humira Is Launched in the European Union Biogen media biogen com Retrieved 2021 06 07 Wadman Meredith 23 December 2016 Updated FDA approves drug that rescues babies with fatal neurodegenerative disease Science doi 10 1126 science aal0476 Grant Charley 2016 12 27 Surprise Drug Approval Is Holiday Gift for Biogen Wall Street Journal ISSN 0099 9660 Retrieved 2016 12 27 Biogen Idec s PLEGRIDY Peginterferon Beta 1a Approved in the US for the Treatment of Multiple Sclerosis Reuters Archived from the original on 2014 09 16 Retrieved 2017 06 30 Biogen Idec s Plegridy approved in Europe for relapsing remitting multiple sclerosis The Pharma Letter FDA Approval for Rituximab National Cancer Institute UPDATE 1 Roche Biogen end dispute over Rituxan follow ons Reuters Archived from the original on 2014 07 27 Retrieved 2010 10 21 FDA approves Rituxan to treat two rare disorders FDA Retrieved 2011 04 19 Cell Therapeutics buys Zevalin from Biogen Idec for 10M with up to 20M extra plus milestones The Pharma Letter Retrieved 2007 09 03 Tecifedra National MS Society Tysabri National MS Society Once monthly MS drug from Biogen Idec AbbVie clears Phase III hurdle Fierce Biotech Retrieved 2013 04 08 Lingo a promising remyelination target in MS Multiple Sclerosis Research Retrieved 2014 06 16 Isis Pharmaceuticals and Biogen Idec Fierce Biotech Biogen Sees Eloctate FDA Delay Pushing Marketing to Mid 2014 BusinessWeek Retrieved 2013 12 11 Isis Pharmaceuticals and Biogen Idec Fierce Biotech David Holley July 2 2015 Biogen Offers Up To 1 Billion for AGTC s Ophthalmology Gene Therapy Xconomy Boston Li Yun 21 March 2019 Biogen shares plunge nearly 30 after ending trial for Alzheimer s drug Aducanumab CNBC Biogen submitted its Alzheimer s drug for approval Now what BioPharma Dive Retrieved 2020 07 29 Pam Belluck F D A Panel Declines to Endorse Controversial Alzheimer s Drug New York Times November 6 2020 Retrieved January 20 2021 FDA Grants Accelerated Approval for Alzheimer s Drug Press release US Food amp Drug Administration 7 Jun 2021 Retrieved 7 Jun 2021 Biogen pays 900m to settle whistle blower suit over kickbacksExternal links EditOfficial website Business data for Biogen GoogleSEC filingsYahoo Portal Companies Coordinates 42 21 58 3 N 71 5 13 2 W 42 366194 N 71 087000 W 42 366194 71 087000 Retrieved from https en wikipedia org w index php title Biogen amp oldid 1128085356, wikipedia, wiki, book, books, library,

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