Taxing final quarter takes shine off strong 2017 revenue for Biogen

Like other drugmakers, East Coast USA-based Biogen (Nasdaq: BIIB) took a hefty tax charge following US tax reforms, paying $1.6 billion last quarter, resulting in a net loss of $297 million, or $1.4 per share, from revenues of $3.3 billion.

The company’s annual financial results statement shows that full year revenue was $12.3 billion, just shy of the Financial Times’ consensus forecast of $12.5 billion, and up from the $11.5 billion the company reported last year.

Net income, following generally accepted accounting principles (GAAP), was $2.5 billion, which equates to $11.9 per share.