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Quarterly Financial Data (Unaudited) | 12 Months Ended
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Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Data (Unaudited) | Quarterly Financial Data (Unaudited)
(In millions, except per share amounts) | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter |  | Total Year
2017 | (a) |  | (a) (b) (c) (d) |  | (a) |  | (a) (e) (f) (g) (h) |  |
Product revenues, net | $ | 2,380.1 |  |  | $ | 2,639.7 |  |  | $ | 2,622.5 |  |  | $ | 2,712.4 |  |  | $ | 10,354.7 |
Revenues from anti-CD20 therapeutic programs | $ | 340.6 |  |  | $ | 397.1 |  |  | $ | 406.5 |  |  | $ | 415.0 |  |  | $ | 1,559.2 |
Other revenues | $ | 90.0 |  |  | $ | 41.6 |  |  | $ | 48.8 |  |  | $ | 179.6 |  |  | $ | 360.0 |
Total revenues | $ | 2,810.7 |  |  | $ | 3,078.4 |  |  | $ | 3,077.8 |  |  | $ | 3,307.0 |  |  | $ | 12,273.9 |
Gross profit (1) | $ | 2,426.1 |  |  | $ | 2,712.2 |  |  | $ | 2,707.8 |  |  | $ | 2,797.8 |  |  | $ | 10,643.9 |
Net income | $ | 747.5 |  |  | $ | 862.8 |  |  | $ | 1,226.1 |  |  | $ | (166.3 | ) |  | $ | 2,670.1 |
Net income attributable to Biogen Inc. | $ | 747.6 |  |  | $ | 862.8 |  |  | $ | 1,226.1 |  |  | $ | (297.4 | ) |  | $ | 2,539.1 |
Net income per share: |  |  |  |  |  |  |  |  |
Basic earnings per share attributable to Biogen Inc. | $ | 3.47 |  |  | $ | 4.07 |  |  | $ | 5.80 |  |  | $ | (1.41 | ) |  | $ | 11.94 |
Diluted earnings per share attributable to Biogen Inc. | $ | 3.46 |  |  | $ | 4.07 |  |  | $ | 5.79 |  |  | $ | (1.40 | ) |  | $ | 11.92 |
Weighted-average shares used in calculating: |  |  |  |  |  |  |  |  |
Basic earnings per share attributable to Biogen Inc. | 215.6 |  |  | 211.9 |  |  | 211.4 |  |  | 211.5 |  |  | 212.6 |
Diluted earnings per share attributable to Biogen Inc. | 215.9 |  |  | 212.2 |  |  | 211.8 |  |  | 212.0 |  |  | 213.0 |
(In millions, except per share amounts) | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter |  | Total Year
2016 |  |  | (i) |  | (i) (j) |  | (i) (k) (l) |  |
Product revenues, net | $ | 2,309.4 |  |  | $ | 2,466.0 |  |  | $ | 2,539.6 |  |  | $ | 2,502.9 |  |  | $ | 9,817.9 |
Revenues from anti-CD20 therapeutic programs | $ | 329.5 |  |  | $ | 349.2 |  |  | $ | 317.6 |  |  | $ | 318.2 |  |  | $ | 1,314.5 |
Other revenues | $ | 87.9 |  |  | $ | 79.0 |  |  | $ | 98.6 |  |  | $ | 50.9 |  |  | $ | 316.4 |
Total revenues | $ | 2,726.8 |  |  | $ | 2,894.2 |  |  | $ | 2,955.8 |  |  | $ | 2,872.0 |  |  | $ | 11,448.8 |
Gross profit (1) | $ | 2,413.8 |  |  | $ | 2,523.9 |  |  | $ | 2,538.9 |  |  | $ | 2,493.5 |  |  | $ | 9,970.1 |
Net income | $ | 969.2 |  |  | $ | 1,048.4 |  |  | $ | 1,030.2 |  |  | $ | 647.9 |  |  | $ | 3,695.7 |
Net income attributable to Biogen Inc. | $ | 970.9 |  |  | $ | 1,049.8 |  |  | $ | 1,032.9 |  |  | $ | 649.2 |  |  | $ | 3,702.8 |
Net income per share: |  |  |  |  |  |  |  |  |
Basic earnings per share attributable to Biogen Inc. | $ | 4.44 |  |  | $ | 4.79 |  |  | $ | 4.72 |  |  | $ | 3.00 |  |  | $ | 16.96 |
Diluted earnings per share attributable to Biogen Inc. | $ | 4.43 |  |  | $ | 4.79 |  |  | $ | 4.71 |  |  | $ | 2.99 |  |  | $ | 16.93 |
Weighted-average shares used in calculating: |  |  |  |  |  |  |  |  |
Basic earnings per share attributable to Biogen Inc. | 218.9 |  |  | 219.1 |  |  | 218.9 |  |  | 216.6 |  |  | 218.4 |
Diluted earnings per share attributable to Biogen Inc. | 219.3 |  |  | 219.4 |  |  | 219.4 |  |  | 217.0 |  |  | 218.8 |
(1) Gross profit is calculated as total revenues less cost of sales, excluding amortization of acquired intangible assets.
(a) | Net income and net income attributable to Biogen Inc. for the first, second, third and fourth quarters of 2017 include a pre-tax charge of $353.6 million, $29.4 million, $30.4 million and $30.8 million, respectively, related to our U.S. and rest of world licenses to Forward Pharma's intellectual property, including Forward Pharma's intellectual property related to TECFIDERA.
(b) | Net income and net income attributable to Biogen Inc. for the second quarter of 2017 includes a pre-tax charge to research and development expense of $300.0 million for an upfront payment to BMS upon the closing of our agreement to exclusively license BIIB092.
(c) | Net income and net income attributable to Biogen Inc. for the second quarter of 2017 includes a pre-tax charge to acquired in-process research and development of $120.0 million for an upfront payment to Remedy upon closing of the asset purchase transaction.
(d) | Net income and net income attributable to Biogen Inc. for the second quarter of 2017 includes a pre-tax charge to research and development expense of $60.0 million for a developmental milestone that became payable to the former shareholders of iPierian upon dosing of the first patient in the Phase 2 PSP study for BIIB092.
(e) | Net income attributable to Biogen Inc., for the fourth quarter of 2017, includes a pre-tax charge to noncontrolling interest of $150.0 million for a payment to Neurimmune in exchange for a 15% reduction in royalty rates payable on potential commercial sales of aducanumab.
(f) | Net income and net income attributable to Biogen Inc. for the fourth quarter of 2017 includes pre-tax charges to research and development expense of $28.0 million and $50.0 million for an upfront payment and a continuation payment, respectively, to Alkermes.
(g) | Net income and net income attributable to Biogen Inc. for the fourth quarter of 2017 includes a pre-tax charge to research and development expense of $25.0 million for an upfront payment to Ionis upon entering into a new collaboration agreement to identify new antisense-oligonucleotide drug candidates for the treatment of SMA.
(h) | Net income and net income attributable to Biogen Inc. for the fourth quarter of 2017 includes $1,173.6 million related to the provisions of the 2017 Tax Act, including a $989.6 million expense under the Transition Toll Tax.
(i) | Net income and net income attributable to Biogen Inc. for the second, third and fourth quarters of 2016 includes additional pre-tax depreciation expense totaling $15.8 million, $15.7 million and $14.0 million, respectively, as part of our decision to cease manufacturing and vacate our small-scale biologics manufacturing facility in Cambridge, MA as well as close and vacate our warehouse space in Somerville, MA.
(j) | Net income and net income attributable to Biogen Inc. for the third quarter of 2016 includes a pre-tax charge to research and development expense of $75.0 million for a license fee paid to Ionis as we exercised our option to develop and commercialize SPINRAZA.
(k) | Net income and net income attributable to Biogen Inc. for the fourth quarter of 2016 includes a pre-tax charge to research and development expense of $50.0 million for a milestone payment due to Eisai related to the initiation of a Phase 3 trial for E2609.
(l) | Net income and net income attributable to Biogen Inc. for the fourth quarter of 2016 includes a pre-tax charge of $454.8 million related to our January 2017 settlement and license agreement with Forward Pharma.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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