v3.25.3

Condensed Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
Total revenue	$ 2,534.7	$ 2,465.8	$ 7,611.2	$ 7,221.2
Cost and expenses:
Cost of sales, excluding amortization and impairment of acquired intangible assets	674.4	638.7	1,908.7	1,726.9
Research and development	436.1	516.2	1,269.2	1,467.0
Acquired in-process research and development, upfront and milestone expense	2.1	26.5	249.4	42.5
Selling, general and administrative	594.8	588.4	1,751.1	1,723.7
Amortization and impairment of acquired intangible assets	135.7	130.3	378.4	295.5
Collaboration profit sharing/(loss reimbursement)	87.2	69.3	220.3	197.3
Business Combination, Contingent Consideration, Change in Contingent Consideration, Liability, Increase (Decrease)	5.6	23.8	28.4	23.8
Restructuring charges	7.4	6.8	42.0	24.9
Gain on sale of priority review voucher, net	0.0	0.0	0.0	(88.6)
Other (income) expense, net	34.1	14.8	151.2	193.7
Total cost and expense	1,977.4	2,014.8	5,998.7	5,606.7
Income before income tax (benefit) expense	557.3	451.0	1,612.5	1,614.5
Income tax (benefit) expense	90.8	62.5	270.7	249.0
Net income attributable to Biogen Inc.	$ 466.5	$ 388.5	$ 1,341.8	$ 1,365.5
Net income per share:
Basic earnings per share attributable to Biogen Inc. (in USD per share)	$ 3.18	$ 2.67	$ 9.16	$ 9.38
Diluted earnings per share attributable to Biogen Inc. (in USD per share)	$ 3.17	$ 2.66	$ 9.14	$ 9.35
Weighted-average shares used in calculating:
Basic earnings per share attributable to Biogen Inc. (in USD per share)	146,600	145,700	146,400	145,500
Diluted earnings per share attributable to Biogen Inc. (in USD per share)	147,100	146,100	146,800	146,000
Product revenue, net
Total revenue	$ 1,846.9	$ 1,769.4	$ 5,452.1	$ 5,380.9
Revenue from anti-CD20 therapeutic programs
Total revenue	493.9	446.2	1,339.4	1,284.7
Alzheimer's collaboration revenue
Total revenue	42.7	18.6	130.6	33.2
Contract manufacturing, royalty and other revenue
Total revenue	$ 151.2	$ 231.6	$ 689.1	$ 522.4

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BIOGEN INC. 10-Q