2021 Revenues ($USD) : $10,981,700,000
2021 R&D spend : $2,501,200,000
2021 Number of Employees : 9,610
Fiscal Year End : 12/31/2021
Leader : CEO Michel Vounatsos

Focusing on developing therapies for neurological and neurodegenerative diseases, Biogen made headlines in 2021 when it won FDA approval for the first Alzheimer’s therapy, Aduhelm (aducanumab), in almost 20 years. That approval, however, proved to be controversial. As a result, Aduhelm brought in only $3 million in 2021. Other headwinds included waning sales of the multiple sclerosis drug Ocrevus (ocrelizumab), which fell 18% in 2021, while the spinal muscular atrophy therapy Spinraza (nusinersen) had a 7% revenue decrease. Overall, the company’s 2021 revenue dipped 18% over the prior year at actual currency. In 2022, the company began adopting cost-cutting measures to shore up its bottom line. —BB