Published on Biogen Media (http://media.biogen.com) on 1/27/16 7:15 am EST
`
`Biogen 2015 Revenues Increase 11% to $10.8 Billion
`Release Date:
`Wednesday, January 27, 2016 7:15 am EST
`Terms:
`Investor Relations [1]
`Dateline City:
`CAMBRIDGE, Mass.
`2015 Non-GAAP Diluted EPS Rise 23%, GAAP Diluted EPS Rise 24%
`Company advances leading neuroscience portfolio including programs
`in Alzheimer’s disease, spinal muscular atrophy, and a repair &
`regeneration therapy for multiple sclerosis
`
`CAMBRIDGE, Mass.--(BUSINESS WIRE [2])--Biogen Inc. (NASDAQ: BIIB) today reported full year and fourth quarter 2015 results,
`including full year revenues of $10.8 billion, an 11% increase versus 2014. Full year 2015 Non-GAAP diluted earnings per share
`(EPS) were $17.01, an increase of 23% versus 2014. Non-GAAP net income attributable to Biogen Inc. for the year was $3.9
`billion, an increase of 20% versus the prior year.
`On a reported basis, GAAP diluted EPS for 2015 were $15.34, an increase of 24% versus 2014. GAAP net income attributable
`to Biogen Inc. for 2015 was $3.5 billion, an increase of 21% versus 2014. (A reconciliation of GAAP to Non-GAAP full year and
`quarterly financial results can be found in Table 3 at the end of this release).
`“We saw solid performance in our industry leading multiple sclerosis portfolio and strong adoption of our hemophilia
`therapies,” said Chief Executive Officer George A. Scangos, Ph.D. “We continue to make investments in important and
`promising programs that we believe have the potential to help people suffering from devastating diseases, and we are also
`excited about the potential to launch three new products this year: BENEPALI®, ZINBRYTATM, and an infliximab biosimilar.”
`“The year ahead will be very exciting for our pipeline, as we look to advance several potential breakthrough programs,” Dr.
`Scangos continued. “We are executing two Phase 3 clinical trials for aducanumab in Alzheimer’s disease, and are awaiting new
`data from two other Alzheimer’s candidates. We are encouraged by open label Phase 2 data for nusinersen for spinal
`muscular atrophy, the leading genetic cause of infant mortality, and are advancing two Phase 3 studies in infants and children
`with our collaboration partner Ionis. We expect to see Phase 2 data for anti-LINGO in multiple sclerosis in the middle of the
`year, allowing us to better understand its potential to reverse or repair damage caused by the disease. We are also focused
`on expanding our leadership in neurology by continuing to attract top talent and using new technology, novel science and a
`better understanding of disease biology to pursue early stage programs in areas such as Parkinson’s disease and ALS.”
`Full Year 2015 Financial Highlights
`TECFIDERA® revenues were $3.6 billion compared to $2.9 billion in 2014. These results consisted of $2.9 billion in U.S.
`sales and $730 million in sales outside the U.S. compared to $2.4 billion and $483 million, respectively, in 2014.
`Interferon revenues, including AVONEX® and PLEGRIDY®, were $3.0 billion compared to $3.1 billion in 2014. These
`results consisted of $2.0 billion in U.S. sales and $951 million in sales outside the U.S. compared to $2.0 billion and $1.1
`billion, respectively, in 2014.
`TYSABRI® revenues were $1.9 billion compared to $2.0 billion in 2014. These results consisted of $1.1 billion in U.S.
`sales and $783 million in sales outside the U.S. compared to $1.0 billion and $934 million, respectively, in 2014.
`Net revenues relating to RITUXAN® and GAZYVA® from our unconsolidated joint business arrangement were $1.3
`billion compared to $1.2 billion in 2014.
`ELOCTATE® revenues were $320 million compared to $58 million in 2014.
`ALPROLIX® revenues were $234 million compared to $76 million in 2014.
`Revenues for FAMPYRATM and FUMADERM™ were $141 million compared to $143 million in 2014.
`Royalty revenues were $48 million compared to $177 million in 2014.
`Corporate partner revenues were $189 million compared to $128 million in 2014.
`Foreign exchange, offset by $166 million in net hedging gains, weakened total revenues by approximately $227 million
`
`MYLAN PHARMS. INC. EXHIBIT 1107 PAGE 1
`
`

`
`compared to 2014.
`Non-GAAP and GAAP SG&A expense was $2.1 billion compared to $2.2 billion in 2014.
`Non-GAAP and GAAP R&D expense was $2.0 billion compared to $1.9 billion in 2014.
`Fourth Quarter 2015 Financial Highlights
`TECFIDERA revenues were $993 million compared to $916 million in the same quarter last year. These results consisted
`of $785 million in U.S. sales and $208 million in sales outside the U.S. compared to $743 million and $173 million,
`respectively, in the fourth quarter of 2014. TECFIDERA U.S. sales included 13 shipping weeks in the fourth quarter of
`2015 versus 14 in the fourth quarter of 2014.
`TECFIDERA revenues in the fourth quarter of 2015 increased 6% versus the third quarter of 2015, including a 4%
`increase in U.S. revenues, which benefited by approximately $30 million due to an increase of inventory in the
`wholesale channel.
`Interferon revenues, including AVONEX and PLEGRIDY, were $740 million compared to $777 million in the same quarter
`last year. These results consisted of $506 million in U.S. sales and $233 million in sales outside the U.S. compared to
`$528 million and $249 million, respectively, in the fourth quarter of 2014. AVONEX U.S. sales included 13 shipping weeks
`in the fourth quarter of 2015 versus 14 in the fourth quarter of 2014.
`TYSABRI revenues were $481 million compared to $484 million in the same quarter last year. These results consisted of
`$278 million in U.S. sales and $203 million in sales outside the U.S. compared to $266 million and $218 million,
`respectively, in the fourth quarter of 2014.
`Net revenues relating to RITUXAN and GAZYVA from our unconsolidated joint business arrangement were $334 million
`compared to $305 million in the same quarter last year.
`ELOCTATE revenues were $101 million compared to $37 million in the same quarter last year.
`ALPROLIX revenues were $71 million compared to $40 million in the same quarter last year.
`Revenues for FAMPYRA and FUMADERM were $40 million compared to $33 million in the same quarter last year.
`Royalty revenues were $10 million compared to $31 million in the same quarter last year.
`Corporate partner revenues were $69 million compared to $18 million in the same quarter last year.
`Corporate partner revenues in the fourth quarter of 2015 increased 74% versus the third quarter of 2015 related
`to contract manufacturing for Samsung Bioepis and another strategic partner.
`Foreign exchange, offset by $40 million in net hedging gains, weakened total revenues by approximately $35 million
`compared to the same quarter last year.
`Non-GAAP SG&A expense was $583 million compared to $573 million in the same quarter last year. GAAP SG&A
`expense was $583 million compared to $574 million in the same quarter last year.
`Non-GAAP R&D expense was $542 million compared to $499 million in the same quarter last year. GAAP R&D expense
`was $542 million compared to $500 million in the same quarter last year.
`GAAP diluted EPS were $3.77, an increase of 1% versus the fourth quarter of 2014. GAAP net income attributable to
`Biogen for the quarter was $832 million, a decrease of 6% versus the fourth quarter of 2014. GAAP results in 2015
`include the impact of a $93 million pretax restructuring charge for employee severance and R&D program termination
`costs in connection with the cost reduction initiative announced in October 2015.
`Non-GAAP diluted EPS were $4.50, an increase of 10% versus the fourth quarter of 2014. Non-GAAP net income
`attributable to Biogen for the quarter was $995 million, an increase of 3% from the fourth quarter of 2014.
`Capital Allocation Highlights
`In 2015, Biogen purchased approximately 16.8 million shares of its common stock, completing its previously authorized
`$5.0 billion share repurchase program.
`For 2015, the Company’s full year weighted average diluted shares were 231 million. For the fourth quarter of 2015, the
`Company’s weighted average diluted shares were 221 million. The Company ended the year with approximately 219
`million basic shares outstanding.
`At the end of 2015, Biogen had cash, cash equivalents and marketable securities totaling approximately $6.2 billion,
`and $6.5 billion in notes payable and other financing arrangements.
`2016 Financial Guidance
`Biogen also announced its full year 2016 financial guidance. This guidance consists of the following components:
`Revenue is expected to be approximately $11.1 to $11.3 billion.
`R&D expense is expected to be approximately 19% to 20% of total revenue.
`The Company plans to continue to invest in a number of R&D programs across its emerging mid- and late-stage
`pipeline, including aducanumab for Alzheimer’s disease, nusinersen for spinal muscular atrophy, raxatrigine for
`trigeminal neuralgia and amiselimod for inflammatory bowel disease.
`SG&A expense is expected to be approximately 17% to 18% of total revenue.
`The Company anticipates an approximately 200 basis point improvement over 2015 driven by the headcount
`reduction announced in October 2015 as well as a reduction in fees and services expenses.
`Non-GAAP diluted EPS is expected to be between $18.30 and $18.60.
`GAAP diluted EPS is expected to be between $16.85 and $17.15.
`Biogen may incur charges, realize gains or experience other events in 2016 that could cause actual results to vary from this
`guidance.
`
`MYLAN PHARMS. INC. EXHIBIT 1107 PAGE 2
`
`

`
`In 2016, the Company plans to provide one update to its annual financial guidance, which is expected to be provided in
`connection with its second quarter earnings release. This approach is intended to synchronize guidance with internal business
`planning processes and to ensure a continued focus on long-term value creation.
`Recent Company Events
`In November 2015, Biogen and Swedish Orphan Biovitrum AB (Sobi) announced that the European Commission approved
`ELOCTA® (rFVIIIFc) for the treatment of hemophilia A in all 28 European Union (EU) member states, as well as Iceland,
`Liechtenstein and Norway. ELOCTA, the trade name for ELOCTATE in Sobi’s territory, is the first hemophilia A treatment
`in the EU to offer prolonged protection against bleeding episodes with prophylactic injections every three to five days.
`Sobi will lead commercialization in Europe.
`In December 2015, Biogen presented new data demonstrating that ELOCTATE and ALPROLIX may effectively manage
`target joint bleeding and maintain low annualized bleeding rates in people with severe hemophilia A and B. The data
`were presented by Biogen and Sobi at the 57th American Society of Hematology (ASH) Annual Meeting and Exposition.
`In December 2015, Biogen initiated a Phase 1/2 clinical study of IONIS-SOD1Rx (BIIB067) in patients with amyotrophic
`lateral sclerosis (ALS), including patients with a mutation in superoxide dismutase 1 (SOD1), which accounts for
`approximately 2% of ALS patients. IONIS-SOD1Rx is an antisense oligonucleotide designed to reduce the production of
`SOD1 and is being developed in collaboration with Ionis Pharmaceuticals.
`In January 2016, Samsung Bioepis, the joint venture between Biogen and Samsung Biologics, received approval from the
`European Commission for BENEPALI, the first etanercept biosimilar referencing Enbrel® to be approved in the EU.
`BENEPALI will be manufactured and commercialized in the EU by Biogen and is the first product from its biosimilar
`pipeline to be approved.
`Conference Call and Webcast
`The Company's earnings conference call for the fourth quarter will be broadcast via the internet at 8:30 a.m. EST on January
`27, 2016, and will be accessible through the Investors section of Biogen’s homepage, www.biogen.com [3]. Supplemental
`information in the form of a slide presentation will also be accessible at the same location on the internet at the time of the
`conference call and will be subsequently available on the website for at least one month.
`About Biogen
`Through cutting-edge science and medicine, Biogen discovers, develops and delivers to patients worldwide innovative
`therapies for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders. Founded in
`1978, Biogen is one of the world’s oldest independent biotechnology companies and patients worldwide benefit from its
`leading multiple sclerosis and innovative hemophilia therapies. For product labeling, press releases and additional information
`about the Company, please visit www.biogen.com [4].
`Safe Harbor
`This press release contains forward-looking statements, including statements relating to: Biogen’s commercial business and
`prospects; investments in, and potential of, pipeline and collaboration programs; anticipated timing of data readouts;
`potential product approvals and timing of launches; 2016 full year guidance and other financial matters. These forward-
`looking statements may be accompanied by such words as “anticipate,” “believe,” “could,” “estimate,” “expect,”
`“forecast,” “intend,” “may,” “plan,” “potential,” “project,” “target,” “will” and other words and terms of similar meaning. You
`should not place undue reliance on these statements.
`These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in
`such statements, including: our dependence on sales from our principal products; failure to compete effectively due to
`significant product competition in the markets for our products; difficulties in obtaining and maintaining adequate coverage,
`pricing and reimbursement for our products; risks associated with current and potential future healthcare reforms; the
`occurrence of adverse safety events, restrictions on use with our products or product liability claims; failure to protect and
`enforce our data, intellectual property and other proprietary rights and the risks and uncertainties relating to intellectual
`property claims and challenges; uncertainty of long-term success in developing, licensing or acquiring other product
`candidates or additional indications for existing products; risks associated with clinical trials, including our ability to
`adequately manage clinical activities, unexpected concerns that may arise from additional data or analysis obtained during
`clinical trials, regulatory authorities may require additional information or further studies or may fail to approve or may delay
`approval of our drug candidates; the risk that positive results in a clinical trial may not be replicated in subsequent or
`confirmatory trials or success in early stage clinical trials may not be predictive of results in later stage or large scale clinical
`trials or trials in other potential indications; problems with our manufacturing processes; our dependence on collaborators
`and other third parties for the development and commercialization of products and other aspects of our business, which are
`outside of our control; failure to manage our growth and execute our growth initiatives; failure to achieve the anticipated
`benefits and savings from our corporate restructuring efforts; risks relating to technology failures or breaches; failure to
`comply with legal and regulatory requirements; risks related to indebtedness; the risks of doing business internationally,
`including currency exchange rate fluctuations; charges and other costs relating to our properties; fluctuations in our
`effective tax rate; risks relating to investment in and expansion of manufacturing capacity for future clinical and commercial
`requirements; the market, interest and credit risks associated with our portfolio of marketable securities; risks relating to
`our ability to repurchase stock, including at favorable prices; risks relating to access to capital and credit markets;
`environmental risks; risks relating to the sale and distribution by third parties of counterfeit versions of our products; risks
`relating to the use of social media for our business; change in control provisions in certain of our collaboration agreements;
`and the other risks and uncertainties that are described in the Risk Factors section of our most recent annual or quarterly
`report and in other reports we have filed with the SEC.
`These statements are based on our current beliefs and expectations and speak only as of the date of this press release.
`We do not undertake any obligation to publicly update any forward-looking statements.
`
`
`
`
`
`TABLE 1
`
`BIOGEN INC. AND SUBSIDIARIES
`
`MYLAN PHARMS. INC. EXHIBIT 1107 PAGE 3
`
`

`
`CONDENSED CONSOLIDATED STATEMENTS OF INCOME
`(unaudited, in millions, except per share amounts)
`
`
`For the Three Months
`Ended December 31,
`2015
`2014
`
`
`
`
`For the Twelve Months
`Ended December 31,
`2015
`2014
`
`$ 8,203.4
`1,195.4
`176.7
`127.8
`
` 9,703.3
`
`1,171.0
`1,893.4
`2,232.3
`489.8
`-
`(38.9)
`
` 5,747.7
`
`16.8
`3,972.4
`(25.8)
`
`
`
`
`
`3,946.6
`989.9
`15.1
`2,941.6
`6.8
`
`$ 2,934.8
`
`
`
`Revenues:
`Product, net
`Unconsolidated joint business
`Royalty
`Corporate partner
`Total revenues
`Cost and expenses:
`Cost of sales, excluding amortization of acquired intangible assets
`Research and development
`Selling, general and administrative
`Amortization of acquired intangible assets
`Restructuring charges
`(Gain) loss on fair value remeasurement of contingent consideration
`Total cost and expenses
`Gain on sale of rights
`Income from operations
`Other income (expense), net
`Income before income tax expense and equity in loss of investee,
`net of tax
`Income tax expense
`Equity in loss of investee, net of tax
`Net income
`Net income (loss) attributable to noncontrolling interests, net of tax
`Net income attributable to Biogen Inc.
`
`$ 2,425.9
`333.9
`10.1
`69.4
`
` 2,839.3
`
`331.8
`541.7
`583.0
`96.6
`93.4
`24.6
`
` 1,671.1
`
`-
`1,168.2
`(82.4)
`
`
`
`
`
`1,085.8
`257.1
`-
`828.7
`(2.9)
`
`$ 831.6
`
`$ 2,287.0
`304.5
`31.4
`17.8
`
` 2,640.7
`
`297.3
`500.1
`573.6
`107.2
`-
`7.3
`
` 1,485.5
`
`4.6
`1,159.8
`(8.8)
`
`
`
`
`
`1,151.0
`268.2
`0.2
`882.6
`(0.9)
`
`$ 883.5
`
`$ 9,188.5
`1,339.2
`47.5
`188.6
`
` 10,763.8
`
`1,240.4
`2,012.8
`2,113.1
`382.6
`93.4
`30.5
`
` 5,872.8
`
`-
`4,891.0
`(123.7)
`
`
`
`
`
`4,767.3
`1,161.6
`12.5
`3,593.2
`46.2
`
`$ 3,547.0
`
`Net income per share:
`Basic earnings per share attributable to Biogen Inc.
`Diluted earnings per share attributable to Biogen Inc.
`
`$
`$
`
`3.77
`3.77
`
`$
`$
`
`3.75
`3.74
`
`$
`$
`
`15.38
`15.34
`
`$ 12.42
`$ 12.37
`
`236.4
`237.2
`
`
`
`
`
`
`
`Weighted-average shares used in calculating:
`Basic earnings per share attributable to Biogen Inc.
`Diluted earnings per share attributable to Biogen Inc.
`
`
`
`
`220.4
`220.8
`
`
`
`
`235.5
`236.3
`
`
`
`
`230.7
`231.2
`
`
`
`ASSETS
`
`TABLE 2
`BIOGEN INC. AND SUBSIDIARIES
`CONDENSED CONSOLIDATED BALANCE SHEETS
`(unaudited, in millions)
`
`
`
`
`
`
`As of
`December 31, 2015
`
`As of
`December 31, 2014
`
`MYLAN PHARMS. INC. EXHIBIT 1107 PAGE 4
`
`

`
`Cash, cash equivalents and marketable securities
`Accounts receivable, net
`Inventory
`Other current assets
`Total current assets
`Marketable securities
`Property, plant and equipment, net
`Intangible assets, net
`Goodwill
`Investments and other assets
`TOTAL ASSETS
`
`LIABILITIES AND EQUITY
`Current liabilities
`Notes payable and other financing arrangements
`Other long-term liabilities
`Equity
`TOTAL LIABILITIES AND EQUITY
`
`$
`
`$
`
`$
`
`$
`
`
`
`
`
`
`
`1,845.4
`1,292.4
`804.0
`593.2
`4,535.0
`1,470.7
`1,765.7
`4,028.5
`1,760.2
`754.6
`14,314.7
`
`2,218.1
`580.3
`702.3
`10,814.0
`14,314.7
`
`3,428.5
`1,227.0
`893.4
`1,151.4
`6,700.3
`2,760.4
`2,187.6
`4,085.1
`2,663.8
`1,107.6
`19,504.8
`
`2,577.7
`6,521.5
`1,030.7
`9,374.9
`19,504.8
`
`$
`
`$
`
`$
`
`$
`
`
`
`
`
`
`
`
`
`
`
`TABLE 3
`
`
`
`
`
`
`
`
`
`BIOGEN INC. AND SUBSIDIARIES
`GAAP TO NON-GAAP RECONCILIATION:
`NET INCOME ATTRIBUTABLE TO BIOGEN INC. AND DILUTED EARNINGS PER SHARE
`(unaudited, in millions, except per share amounts)
`
`
`
`
`
`
`An itemized reconciliation between diluted earnings per share on a GAAP basis and on a Non-GAAP basis is as follows:
`
`For the Twelve Months
`Ended December 31,
`2015
`2014
`
`For the Three Months
`Ended December 31,
`2015
`2014
`
`
`$ 12.37
`1.46
`$ 13.83
`
`
`
`
`
`GAAP earnings per share - Diluted
`Adjustments to GAAP net income attributable to Biogen Inc. (as
`detailed below)
`Non-GAAP earnings per share - Diluted
`
`$
`
`
`
`$
`
`3.77
`0.74
`4.50
`
`$ 3.74
` 0.35
`$ 4.09
`
`
`
`$ 15.34
`1.67
`$ 17.01
`
`An itemized reconciliation between net income attributable to Biogen Inc. on a GAAP basis and on a Non-GAAP basis is as
`follows:
`
`For the Three Months
`Ended December 31,
`2015
`2014
`
`
`For the Twelve Months
`Ended December 31,
`2015
`2014
`
`
`
`MYLAN PHARMS. INC. EXHIBIT 1107 PAGE 5
`
`

`
`GAAP net income attributable to Biogen Inc.
`Adjustments:
`Amortization of acquired intangible assets
`(Gain) loss on fair value remeasurement of contingent consideration
`Restructuring charges
`SG&A: Stock option expense
`R&D: Stock option expense
`Donation to Biogen Foundation
`Income tax effect related to reconciling items
`Non-GAAP net income attributable to Biogen Inc.
`
`$ 831.6
`
`$ 883.5
`
`$3,547.0
`
`$2,934.8
`
`92.0
`24.6
`93.4
`-
`-
`-
`(46.9)
`
`$ 994.7
`
`101.4
`7.3
`-
`1.1
`1.0
`-
` (28.7)
`$965.6
`
`365.3
`30.5
`93.4
`-
`-
`-
`(104.3)
`
`$3,931.9
`
`472.9
`(38.9)
`-
`6.4
`5.8
`35.0
`(134.9)
`
`$3,281.1
`
`
`2016 Full Year Guidance: GAAP to Non-GAAP Reconciliation
`An itemized reconciliation between projected net income attributable to Biogen Inc. and diluted earnings per share on a
`GAAP basis and on a Non-GAAP basis is as follows:
`
`Projected GAAP net income attributable to Biogen Inc.
`Adjustments:
`Amortization of acquired intangible assets
`(Gain) loss on fair value remeasurement of contingent consideration
`Restructuring charges
`Income tax effect related to reconciling items
`Projected Non-GAAP net income attributable to Biogen Inc.
`
`Numbers may not foot due to rounding.
`
`$
`$3,722.0
`
`350.0
`20.0
`10.0
`(65.0)
`
`$4,037.0
`
`Shares
`
`218.8
`
`Diluted
`EPS
`$ 17.01
`
`218.8
`
`$ 18.45
`
`
`
`
`
`
`
`Use of Non-GAAP Financial Measures
`We supplement our consolidated financial statements presented on a GAAP basis by providing additional measures which
`may be considered “non-GAAP” financial measures under applicable SEC rules. We believe that the disclosure of these non-
`GAAP financial measures provides additional insight into the ongoing economics of our business and reflects how we manage
`our business internally, set operational goals and forms the basis of our management incentive programs. These non-GAAP
`financial measures are not in accordance with generally accepted accounting principles in the United States and should not
`be viewed in isolation or as a substitute for reported, or GAAP, net income attributable to Biogen Inc. and diluted earnings
`per share.
`Our “Non-GAAP net income attributable to Biogen Inc.” and “Non-GAAP earnings per share - Diluted” financial measures
`exclude the following items from "GAAP net income attributable to Biogen Inc." and "GAAP earnings per share - Diluted":
`1. Purchase accounting and merger-related adjustments.
`We exclude certain purchase accounting related items associated with the acquisition of businesses, assets and amounts in
`relation to the consolidation of variable interest entities for which we are the primary beneficiary. These adjustments include
`charges for in-process research and development, the amortization of certain acquired intangible assets and fair value
`remeasurement of our contingent consideration obligations.
`2. Stock option expense recorded in accordance with the accounting standard for share-based payments.
`3. Other items.
`We evaluate other items on an individual basis, and consider both the quantitative and qualitative aspects of the item,
`including (i) its size and nature, (ii) whether or not it relates to our ongoing business operations, and (iii) whether or not we
`expect it to occur as part of our normal business on a regular basis. We also include an adjustment to reflect the related tax
`effect of all reconciling items within our reconciliation of our GAAP to Non-GAAP net income attributable to Biogen Inc.
`
`
`
`
`
`TABLE 4
`
`BIOGEN INC. AND SUBSIDIARIES
`PRODUCT REVENUES
`(unaudited, in millions)
`
`
`
`
`
`
`
`MYLAN PHARMS. INC. EXHIBIT 1107 PAGE 6
`
`

`
`PRODUCT REVENUES
`
`Multiple Sclerosis (MS):
`TECFIDERA
`AVONEX
`PLEGRIDY
`TYSABRI
`FAMPYRA
`
`Hemophilia:
`ALPROLIX
`ELOCTATE
`
`Other product revenues:
`FUMADERM
`
`For the Three Months
`Ended December 31,
`2015
`2014
`
`For the Twelve Months
`Ended December 31,
`2015
`2014
`
`
`
`$
`
`992.8
`637.2
`102.5
`480.7
`27.6
`
`71.3
`101.2
`
`$ 916.0 $ 3,638.4
`736.0
`2,630.2
`41.1
`338.5
`483.9
`1,886.1
`18.5
`89.7
`
`$ 2,909.2
`3,013.1
`44.5
`1,959.5
`80.2
`
`40.3
`36.8
`
`234.5
`319.7
`
`
`
`
`
`76.0
`58.4
`
`12.6
`
`14.4
`
`51.4
`
`62.5
`
`Total product revenues, net
`
`
`
`
`$ 2,425.9
`
`
`$ 2,287.0 $ 9,188.5
`
`
`$ 8,203.4
`
`
`Language:
`English
`Contact:
`Biogen
`For Media:
`Jason Glashow, 781-464-3260
`or
`For Investor:
`Matt Calistri, 781-464-2442
`Ticker Slug:
`Ticker:BIIB
`Exchange:NASDAQ
`ISIN:
`US09062X1037
`
`Source URL: http://media.biogen.com/press-release/investor-relations/biogen-2015-revenues-increase-11-108-billion
`Links:
`[1] http://media.biogen.com/category/press-release-category/%5Bcatpath-raw%5D
`[2] http://www.businesswire.com
`[3] http://cts.businesswire.com/ct/CT?
`id=smartlink&url=http%3A%2F%2Fwww.biogen.com&esheet=51267182&newsitemid=20160127005645&lan=en-
`US&anchor=www.biogen.com&index=1&md5=8d30f762a498f8076a63b1928fec45dd
`[4] http://cts.businesswire.com/ct/CT?
`id=smartlink&url=http%3A%2F%2Fwww.biogen.com&esheet=51267182&newsitemid=20160127005645&lan=en-
`US&anchor=www.biogen.com&index=2&md5=b45d4d91f6f09e78ddd612c9fc514677
`
`MYLAN PHARMS. INC. EXHIBIT 1107 PAGE 7