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.
