Biogen’s Biosimilars Sales Rise, But Future Still Unknown

As Off-Patent Competition Made A Dent In Firm’s Branded MS Portfolio

Biogen has yet again hinted about “strategic alternatives” for its biosimilars business albeit with no clear future plans, while its branded multiple sclerosis portfolio fights off generic and biosimilar competitors.

Results Graph With Pen And Question Mark
Biogen made $770m in biosimilar revenues in 2023 • Source: Shutterstock

One year after announcing that its biosimilars business may find a new home, Biogen is yet to provide more concrete answers on these plans. During the firm’s Q4 and full year 2023 earnings call, chief financial officer Michael McDonnell reiterated that the company continues to evaluate its options but did not specify any timelines or potential buyers.

“We continue to explore strategic alternatives for this business and are working to ensure that we maximize its value for...

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