Biogen R&D Spending Dropped 19% from Last Quarter
Biogen’s spending on research and development for the first three months of the year dropped 19 percent from the previous quarter, lower than any quarter in the past year.
On a conference call this morning regarding the first-quarter financial report from Cambridge-based Biogen (Nasdaq: BIIB), an analyst pointed out the amount spent on R&D ($437 million) was just 16 percent of the company’s revenues during the same time, which he said appears to be an all-time low. However, CEO George Scangos is saying that doen’t mean the company is cutting back in that regard.
On a conference call this morning regarding the first-quarter financial report from Cambridge-based Biogen (Nasdaq: BIIB), an analyst pointed out the amount spent on R&D ($437 million) was just 16 percent of the company’s revenues during the same time, which he said appears to be an all-time low. However, CEO George Scangos is saying that doen’t mean the company is cutting back in that regard.