v3.25.2
Collaborative and Other Relationships (Tables)
 6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Co Promotion Profit Sharing Formula As a result of the FDA approval of LUNSUMIO our share of the combined annual co-promotion profits for RITUXAN and LUNSUMIO in excess of $50.0 million varies upon the following events, as summarized in the table below:
After LUNSUMIO Approval until the First Threshold Date37.5 %
After First Threshold Date until the Second Threshold Date35.0 %
After Second Threshold Date30.0 %
Summary of Activity Related to BAN2401 and Elenbecestat Collaboration
A summary of development and sales and marketing expense related to the LEQEMBI Collaboration is as follows:
For the Three Months Ended June 30,For the Six Months Ended June 30,
(In millions)2025202420252024
Total development expense incurred by the collaboration related to the advancement of LEQEMBI$54.9 $90.6 $107.5 $177.9 
Biogen's share of the LEQEMBI Collaboration development expense reflected in research and development expense in our condensed consolidated statements of income27.5 45.4 53.8 89.0 
Total sales and marketing expense incurred by the LEQEMBI Collaboration
171.2 137.7 348.9 311.6 
Biogen's share of the LEQEMBI Collaboration sales and marketing expense reflected in selling, general and administrative expense in our condensed consolidated statements of income85.7 68.9 174.5 155.8 
Summary of activity related to the UCB collaboration
A summary of development expense related to the UCB collaboration agreement is as follows:
For the Three Months Ended June 30,For the Six Months Ended June 30,
(In millions)2025202420252024
Total UCB collaboration development expense$17.8 $16.5 $39.6 $33.1 
Biogen's share of UCB collaboration development expense reflected in research and development expense in our condensed consolidated statements of income8.9 8.3 19.8 16.6 
Summary of Activity Related to Sage Therapeutics
A summary of development and sales and marketing expense related to the Sage collaboration is as follows:
For the Three Months Ended June 30,For the Six Months Ended June 30,
(In millions)2025202420252024
Total Sage collaboration development expense$1.5 $9.6 $3.9 $21.2 
Biogen's share of Sage collaboration development expense reflected in research and development expense in our condensed consolidated statements of income0.8 4.8 2.0 10.6 
Total sales and marketing expense incurred by the Sage collaboration45.7 26.9 89.2 54.5 
Biogen's share of Sage collaboration sales and marketing expense reflected in selling, general and administrative expense and collaboration profit sharing/(loss reimbursement) in our condensed consolidated statements of income22.9 13.5 44.6 27.3 
Summary of Activity Related to Denali Therapeutics Collaboration
A summary of development expense related to the Denali collaboration is as follows:
For the Three Months Ended June 30,For the Six Months Ended June 30,
(In millions)2025202420252024
Total Denali collaboration development expense$12.1 $15.4 $24.9 $29.6 
Biogen's share of Denali collaboration development expense reflected in research and development expense in our condensed consolidated statements of income7.2 9.3 14.9 17.8 
Summary of Activity Related to Stoke Therapeutics Collaboration
A summary of development expense related to the Stoke collaboration agreement is as follows:
(In millions)For the Three Months Ended June 30, 2025For the Six Months Ended June 30, 2025
Total Stoke collaboration development expense$8.9 $12.8 
Biogen's share of Stoke collaboration development expense reflected in research and development expense in our condensed consolidated statements of income2.6 3.8