Biogen (BIIB) Research & Development (2009 - 2026)
Biogen (BIIB) recorded Research & Development of $574 million in Q3 2026, up 31.6% from $436.1 million a year earlier and up 8.4% 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 $2.15 billion as of Sep 30, 2026, up 20.7% 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%).
- The Q3 2026 figure is the highest quarterly Research & Development since Q3 2023.
- On a year-over-year basis, Research & Development has increased for three consecutive quarters, with growth averaging 5.2% over the last eight quarters.
- 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 $529.6 million (Q2 2026), $539 million (Q1 2026) and $509.4 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,359.75 Bn | 1,333.37 Bn | 20.46 Bn | 4.25 Bn |
| 2 | Johnson & Johnson | 688.76 Bn | 608.62 Bn | 17.30 Bn | 4.65 Bn |
| 3 | AbbVie | 521.69 Bn | 489.75 Bn | 13.12 Bn | 2.57 Bn |
| 4 | Merck | 364.31 Bn | 327.31 Bn | 13.19 Bn | 4.54 Bn |
| 5 | Novartis Ag | 306.35 Bn | 279.93 Bn | - | - |
| 6 | Astrazeneca | 285.96 Bn | 259.56 Bn | 13.26 Bn | 3.89 Bn |
| 7 | Amgen | 251.88 Bn | 203.53 Bn | 7.58 Bn | 2.11 Bn |
| 8 | Gilead Sciences | 208.59 Bn | 183.61 Bn | 6.73 Bn | 1.61 Bn |
| 9 | Pfizer | 164.73 Bn | 112.38 Bn | 12.56 Bn | 3.02 Bn |
| 10 | Biogen | 37.46 Bn | 26.77 Bn | 2.06 Bn | 574.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 574.00 Mn |
| 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 |
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();