Biogen Release: Company Reports 2016 Revenues Of $11.4 Billion

2016 GAAP diluted EPS rise 10%; Non-GAAP diluted EPS rise 19%

Board of Directors Appoints Michel Vounatsos as Chief Executive Officer

SPINRAZA^TM Approved and Launched in the US for Spinal Muscular Atrophy

Biogen and Forward Pharma Agree to Enter into Settlement and License Agreement

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Biogen Inc. (NASDAQ: BIIB) today reported full year and fourth quarter 2016 financial results, including:

• Full year total revenues of $11.4 billion, a 6% increase versus the prior year. On a constant currency basis¹, total revenues grew 9%.
  • Growth was driven by a 9% increase in worldwide TECFIDERA^® revenues as well as increased revenues from TYSABRI^®, ELOCTATE^®, ALPROLIX^®, and BENEPALI^®. Revenues were partially offset by a decrease in worldwide interferon sales.
  • Foreign exchange negatively impacted total revenues by approximately $211 million compared with 2015, primarily driven by changes in hedge results.
• Full year GAAP net income attributable to Biogen Inc. of $3.7 billion, a 4% increase versus the prior year.
  • GAAP net income was negatively impacted by $339 million, net of tax, related to the settlement and license agreement with Forward Pharma A/S.
• Full year GAAP diluted earnings per share (EPS) of $16.93, a 10% increase versus the prior year.
  • GAAP EPS were negatively impacted by $1.55, net of tax, related to the settlement and license agreement with Forward Pharma.
• Full year non-GAAP net income attributable to Biogen Inc. of $4.4 billion, a 12% increase versus the prior year.
• Full year non-GAAP diluted EPS of $20.22, a 19% increase versus the prior year.