BIIBBiogen

Health care · Biotechnology · Nasdaq

Biogen is a global biopharmaceutical company focused on discovering, developing and delivering innovative therapies for people living with serious and complex diseases. 10-K, Item 1

Employees: 7,500
Headquarters: Cambridge, MA
Next results: around Jan 13, 2027

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RevenueFY2016–25 $9.9B+2.2% FY2024: $9.7B 10-K FY2025 · XBRL Net incomeFY2016–25 $1.3B−20.8% FY2024: $1.6B 10-K FY2025 · XBRL Free cash flowFY2016–25 $2.1B−24.7% FY2024: $2.7B 10-K FY2025 · XBRL

What changed

10-K filed Feb 6, 2026 against Feb 12, 2025

Area	What changed	Source
Risk factors	8 new paragraphs, nothing like them in the previous 10-K	10-K Item 1A
Accounting checks	11 other checks clear	10-K · XBRL
Insiders	No open-market buys in the last 90 days	Form 4
Filings	2 in the last 30 days	EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

What's new, in their words

10-K filed Feb 6, 2026

Paragraphs in Risk Factors that were not in the 10-K filed 2025-02-12. Quoted as filed.

In July 2025 the U.S. signed into law the OBBBA, which enacts significant potential changes to Medicaid funding and rescinds or does not continue elements of the PPACA. The OBBBA implements additional eligibility rules on government health plans, expands administrative procedures around enrollment, modifies how states can obtain federal…
10-K, Item 1A

All 8 new paragraphs →

Accounting checks

latest 10-K

11 of 11 clear 0 worth a look. Checks, not verdicts.

✓
Receivables -4.4% vs revenue +2.2% (-6.7 pts)
✓
Cash from operations $2.2B vs net income $1.3B (FY ending 2025-12-31)
✓
Inventory -11.9% vs revenue +2.2% (-14.1 pts)
✓
Same auditor in both 10-Ks: PricewaterhouseCoopers LLP
✓
No statement of substantial doubt about going concern
✓
No 8-K item 4.02 in the last 2 years
✓
No NT 10-K or NT 10-Q in the last 2 years
✓
No longer listed: F-82; Acquisition of Human Immunology Biosciences, Inc. (HI-Bio) - Valuation of In-Process Research and Development Intangible Assets
✓
No sentence in the 10-K concludes that controls were not effective because of a material weakness
✓
No 8-K item 2.06 in the last 2 years
✓
No 8-K item 1.03 in the last 2 years

How each check works, with sources →

In the last 30 days

All filings →

Oct 28, 20268-K Quarterly results 8-K item 2.02
Oct 28, 202610-Q Quarterly report (10-Q) period ended Sep 30, 2026

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