Biogen Inc., known by its stock symbol BIIB, is a leading multinational biotechnology company based in the United States. The company was originally founded in 1978 in Geneva, Switzerland, and is now headquartered in Cambridge, Massachusetts. Biogen has gained recognition as one of the world’s oldest independent biotechnology companies, with a reputation for pioneering development of therapies for neurodegenerative, hematologic, and autoimmune diseases.
Biogen's primary focus is on developing medicines for diseases with few or no treatment options. Over the years, it has secured the global marketing rights for a variety of significant products which address medical conditions like multiple sclerosis (MS), spinal muscular atrophy (SMA), and Alzheimer’s disease.
One of Biogen's prominent products is TECFIDERA, a medicine for relapsing forms of MS. The company also made significant strides in SMA treatment with the development of SPINRAZA, a great achievement in the infant mortality combat.
Biogen's forward-thinking approach on R&D investment has led to a strong product pipeline. In March 2021, Biogen gained attention when its Alzheimer’s treatment, Aduhelm, became the first new Alzheimer’s medicine approved by the U.S. Food and Drug Administration (FDA) in nearly 20 years. However, the drug’s approval has been met with some controversy due to concerns about clinical trial data and its pricing.
In recent years, Biogen has also made strides in corporate responsibility, committing to carbon neutrality, and tackling diversity and inclusion. It has received recognition for its efforts in these areas, including featuring in the Dow Jones Sustainability World Index.
Biogen is publicly traded on the NASDAQ and forms part of the S&P 500 and NASDAQ-100. The company has shown significant growth and financial strength over the years with increasing revenue from a growing portfolio of drugs.
Under its current CEO Michel Vounatsos, Biogen continues to intensify its research and development activities, seeking to create new groundbreaking therapies, and deliver on its mission to improve the lives of those affected by serious diseases worldwide.