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Biogen Inc.: Update to credit analysis following review for downgrade

Our credit view of this issuer reflects the pending decision of Medicare coverage for Aduhelm.

Moody's reviews Biogen's Baa1 ratings for downgrade

Rating Action: Moody's reviews Biogen's Baa1 ratings for downgrade. Global Credit Research- 14 Jan 2022. New York, January 14, 2022-- Moody's Investors Service placed the Baa1 senior unsecured ratings of Biogen Inc. under review for downgrade.

Biogen Inc. - September 2021 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Biogen Inc.: Update to credit analysis following outlook revision to n...

Our credit view of this issuer reflects its solid cash flow and low financial leverage, against pipeline execution risk and challenges in the Aduhelm launch.

Moody's announces completion of a periodic review of ratings of Biogen...

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Biogen Inc.. Global Credit Research- 10 Nov 2021. New York, November 10, 2021-- Moody's Investors Service has completed a periodic review of the ratings of Biogen Inc. and other ratings that are associated with the same analytical unit.

Moody's affirms Biogen at Baa1; revises outlook to negative

Rating Action: Moody's affirms Biogen at Baa1; revises outlook to negative. Global Credit Research- 10 Nov 2021. New York, November 10, 2021-- Moody's Investors Service affirmed the ratings of Biogen Inc. including the Baa1 senior unsecured rating.

Biogen Inc. - June 2021 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Biogen Inc.: Update to credit analysis following Aduhelm approval and ...

Our credit view of Biogen reflects its strong neurology presence, high revenue potential of Aduhelm and conservative financial polices, tempered by competitive pressure and limited diversity

Moody's confirms Biogen at Baa1; stable outlook

Rating Action: Moody's confirms Biogen at Baa1; stable outlook. Global Credit Research- 10 Jun 2021. New York, June 10, 2021-- Moody's Investors Service confirmed the Baa1 senior unsecured rating of Biogen Inc..

Biogen Inc. - March 2021 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Biogen Inc. - December 2020 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Moody's assign's Baa1 to Biogen's notes; on review for downgrade

Rating Action: Moody's assign's Baa1 to Biogen's notes; on review for downgrade. Global Credit Research- 04 Feb 2021. New York, February 04, 2021-- Moody's Investors Service assigned a Baa1 rating to the new senior unsecured notes being issued by Biogen Inc. that will be offered in exchange for a series of existing notes.

Moody's announces completion of a periodic review of ratings of Biogen...

Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Biogen Inc.. Global Credit Research- 15 Dec 2020. New York, December 15, 2020-- Moody's Investors Service has completed a periodic review of the ratings of Biogen Inc. and other ratings that are associated with the same analytical unit.

Biogen Inc. - September 2020 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Biogen Inc.: Update to credit analysis following review for downgrade

Our credit view of Biogen, reflecting its long track record of very low financial leverage, offset by intensifying competition and pipeline execution risk.

Moody's review's Biogen's Baa1 ratings for downgrade

Rating Action: Moody's review's Biogen's Baa1 ratings for downgrade. Global Credit Research- 09 Nov 2020. New York, November 09, 2020-- Moody's Investors Service placed the Baa1 ratings of Biogen Inc. under review for downgrade.

Biogen Inc.: Update to credit analysis following outlook change to neg...

Our credit view of Biogen, reflecting rising event risk related to acquisitions and greater reliance on aducanumab given recent generic competition on Tecfidera.

Moody's affirms Biogen at Baa1; outlook revised to negative

Rating Action: Moody's affirms Biogen at Baa1; outlook revised to negative. Global Credit Research- 28 Sep 2020. New York, September 28, 2020-- Moody's Investors Service affirmed the ratings of Biogen Inc. including the Baa1 senior unsecured rating.

Biogen Inc. - June 2020 (LTM): Peer Snapshot

Peer Snapshot:  Biogen Inc. - June 2020 (LTM) 28 August 2020 (in US millions) FYE Dec-18 FYE Dec-19 LTM Jun-20 FYE Dec-18 FYE Dec-19 LTM Jun-20 FYE Dec-18 FYE Dec-19 LTM Mar-20

Moody's: Tecfidera patent ruling credit negative for Biogen

Announcement: Moody's: Tecfidera patent ruling credit negative for Biogen. Global Credit Research- 18 Jun 2020. New York, June 18, 2020-- Moody's Investors Service commented that the recent patent ruling by a federal court in West Virginia related to the multiple sclerosis drug Tecfidera is credit negative for Biogen, Inc. This is because of increased uncertainty related to generic competition in the US occurring before 2028. Biogen will appeal the ruling, and Moody's does not...

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