Biohaven (BHVN) Research & Development (2021 - 2026)
Biohaven (BHVN) recorded Research & Development of $101.85 million in Q3 2026, down 27.9% from $141.17 million a year earlier but up 1.0% from the prior quarter.
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Analysis
Biohaven (BHVN) Research & Development (2021 - 2026) Analysis & Trends
On a TTM basis, Biohaven's Research & Development came in at $428.44 million as of Sep 30, 2026, down 37.0% year-over-year; for FY2025, it came in at $635.07 million, down 20.2% from FY2024.
- Annual Research & Development has a five-year compound annual growth rate of 45.2% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $795.87 million in FY2024 (+113.2%), $373.28 million in FY2023 (-14.6%), $437.07 million in FY2022 (+140.8%) and $181.49 million in FY2021 (+84.3%).
- Quarterly Research & Development has ranged from $41.82 million in Q4 2021 to $314.82 million in Q2 2024 over the past five years.
- On a year-over-year basis, Research & Development has declined for six consecutive quarters, with an average decline of 19.0% over the last eight quarters.
- Peak year-over-year performance for Research & Development in the last five years was growth of 296.0% in Q2 2024, against a decline of 55.1% in Q2 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at $100.81 million (Q2 2026), $103.83 million (Q1 2026) and $121.95 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,348.13 Bn | 1,321.74 Bn | 20.46 Bn | 4.25 Bn |
| 2 | Johnson & Johnson | 675.90 Bn | 595.76 Bn | 17.30 Bn | 4.65 Bn |
| 3 | AbbVie | 519.45 Bn | 487.50 Bn | 13.12 Bn | 2.57 Bn |
| 4 | Merck | 364.95 Bn | 327.95 Bn | 13.19 Bn | 4.54 Bn |
| 5 | Novartis Ag | 311.58 Bn | 285.16 Bn | - | - |
| 6 | Astrazeneca | 289.34 Bn | 262.94 Bn | 13.26 Bn | 3.89 Bn |
| 7 | Amgen | 251.64 Bn | 203.30 Bn | 7.58 Bn | 2.11 Bn |
| 8 | Gilead Sciences | 212.05 Bn | 187.07 Bn | 6.73 Bn | 1.61 Bn |
| 9 | Pfizer | 167.35 Bn | 115.00 Bn | 12.56 Bn | 3.02 Bn |
| 10 | Biohaven | 2.28 Bn | 1.18 Bn | - | 101.85 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 101.85 Mn |
| Jun 30, 2026 | 100.81 Mn |
| Mar 31, 2026 | 103.83 Mn |
| Dec 31, 2025 | 121.95 Mn |
| Sep 30, 2025 | 141.17 Mn |
| Jun 30, 2025 | 184.37 Mn |
| Mar 31, 2025 | 187.58 Mn |
| Dec 31, 2024 | 167.47 Mn |
| Sep 30, 2024 | 157.61 Mn |
| Jun 30, 2024 | 314.82 Mn |
| Mar 31, 2024 | 155.97 Mn |
| Dec 31, 2023 | 134.81 Mn |
| Sep 30, 2023 | 95.52 Mn |
| Jun 30, 2023 | 79.49 Mn |
| Mar 31, 2023 | 63.46 Mn |
| Dec 31, 2022 | 137.04 Mn |
| Sep 30, 2022 | 52.85 Mn |
| Jun 30, 2022 | 177.09 Mn |
| Mar 31, 2022 | 70.10 Mn |
| Dec 31, 2021 | 41.82 Mn |
API Access
Biohaven Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=BHVN&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "BHVN", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=BHVN&period=max&api_key=YOUR_API_KEY");
const data = await res.json();