Biogen (BIIB) Research & Development (2009 - 2026)
Biogen (BIIB) recorded Research & Development of $529.6 million in Q2 2026, up 32.7% from $399 million a year earlier but down 1.7% from the prior quarter.
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Analysis
Biogen (BIIB) Research & Development (2009 - 2026) Analysis & Trends
On a TTM basis, Biogen's Research & Development came in at $2.01 billion as of Jun 30, 2026, up 8.1% year-over-year; for FY2025, it was $1.78 billion, down 10.2% from FY2024.
- Annual Research & Development has a five-year compound annual growth rate of -14.9% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $1.98 billion in FY2024 (-19.0%), $2.45 billion in FY2023 (+9.6%), $2.23 billion in FY2022 (-10.8%) and $2.5 billion in FY2021 (-37.3%).
- Quarterly Research & Development has ranged from $399 million in Q2 2025 to $736.3 million in Q3 2023 over the past five years.
- On a year-over-year basis, Research & Development rose in two of the last eight quarters, with an average decline of 2.5%.
- Peak year-over-year performance for Research & Development in the last five years was growth of 34.1% in Q3 2023, against a decline of 59.5% in Q4 2021 at the low end.
- Per Business Quant, the preceding three quarters came in at $539 million (Q1 2026), $509.4 million (Q4 2025) and $436.1 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 638.12 Bn | 556.64 Bn | 17.26 Bn | 3.65 Bn |
| 2 | AbbVie | 462.60 Bn | 435.75 Bn | 12.70 Bn | 2.34 Bn |
| 3 | Merck | 358.70 Bn | 313.13 Bn | 12.21 Bn | 9.74 Bn |
| 4 | Novartis Ag | 272.16 Bn | 228.03 Bn | 11.24 Bn | -2.85 Bn |
| 5 | Astrazeneca | 250.36 Bn | 223.92 Bn | 12.86 Bn | -4.05 Bn |
| 6 | Amgen | 227.87 Bn | 183.27 Bn | 7.24 Bn | 1.87 Bn |
| 7 | Gilead Sciences | 184.97 Bn | 159.08 Bn | 6.22 Bn | 1.76 Bn |
| 8 | Pfizer | 162.61 Bn | 109.56 Bn | 10.94 Bn | 2.81 Bn |
| 9 | Vertex Pharmaceuticals | 132.45 Bn | 104.46 Bn | 2.84 Bn | 993.80 Mn |
| 10 | Biogen | 33.37 Bn | 20.03 Bn | 1.96 Bn | 529.60 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 529.60 Mn |
| Mar 31, 2026 | 539.00 Mn |
| Dec 31, 2025 | 509.40 Mn |
| Sep 30, 2025 | 436.10 Mn |
| Jun 30, 2025 | 399.00 Mn |
| Mar 31, 2025 | 434.10 Mn |
| Dec 31, 2024 | 513.30 Mn |
| Sep 30, 2024 | 516.20 Mn |
| Jun 30, 2024 | 505.40 Mn |
| Mar 31, 2024 | 445.40 Mn |
| Dec 31, 2023 | 554.30 Mn |
| Sep 30, 2023 | 736.30 Mn |
| Jun 30, 2023 | 584.20 Mn |
| Mar 31, 2023 | 570.60 Mn |
| Dec 31, 2022 | 601.60 Mn |
| Sep 30, 2022 | 549.20 Mn |
| Jun 30, 2022 | 528.60 Mn |
| Mar 31, 2022 | 551.70 Mn |
| Dec 31, 2021 | 699.50 Mn |
| Sep 30, 2021 | 702.40 Mn |
API Access
Biogen 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=BIIB&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "BIIB", "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=BIIB&period=max&api_key=YOUR_API_KEY");
const data = await res.json();