---
title: "Biogen: Competitors & Industry Structure"
description: "Biogen compared with companies that share its SEC industry classification: revenue, growth and margins from SEC filings, and how the peer group is chosen."
canonical: https://www.getswoopr.com/stocks/companies/biogen/competitors/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Biogen: Competitors & Industry Structure



## Direct Answer

SEC EDGAR classifies Biogen under SIC code 2836 (Biological Products, (No Diagnostic Substances)). Among Swoopr's S&P 500 Equal Weight companies, 86 others share that classification; by latest reported revenue, Biogen ranks 3 of 87. A filing classification is a starting point: a company's real competitors depend on its segments, which its 10-K describes.

## How Does Biogen Compare With Its Peers?

| Company | Revenue (latest FY) | Revenue growth | Operating margin | Net margin |
| --- | --- | --- | --- | --- |
| [Amgen (AMGN)](https://www.getswoopr.com/stocks/companies/amgen/) | $36.8 billion FY2025 | 10.0% | 24.7% | 21.0% |
| [Gilead Sciences (GILD)](https://www.getswoopr.com/stocks/companies/gilead-sciences/) | $29.4 billion FY2025 | 2.4% | 34.0% | 28.9% |
| **Biogen (BIIB)** | $9.9 billion FY2025 | 2.2% | n/a | 13.1% |
| [Neurocrine Biosciences Inc. (NBIX)](https://www.getswoopr.com/stocks/companies/neurocrine-biosciences-inc/) | $2.9 billion FY2025 | 21.4% | 21.6% | 16.7% |
| [Exelixis Inc. (EXEL)](https://www.getswoopr.com/stocks/companies/exelixis-inc/) | $2.3 billion FY2025 | 7.0% | 37.6% | 33.7% |
| [Moderna (MRNA)](https://www.getswoopr.com/stocks/companies/moderna/) | $1.9 billion FY2025 | -39.9% | -158.1% | -145.2% |
| [Halozyme Therapeutics Inc. (HALO)](https://www.getswoopr.com/stocks/companies/halozyme-therapeutics-inc/) | $1.4 billion FY2025 | 37.6% | 33.6% | 22.7% |
| [Bio-Techne (TECH)](https://www.getswoopr.com/stocks/companies/bio-techne/) | $1.2 billion FY2025 | 5.2% | 8.4% | 6.0% |
| [Novavax Inc. (NVAX)](https://www.getswoopr.com/stocks/companies/novavax-inc/) | $1.1 billion FY2025 | 64.7% | 40.3% | 39.2% |
| [BioCryst Pharmaceuticals Inc. (BCRX)](https://www.getswoopr.com/stocks/companies/biocryst-pharmaceuticals-inc/) | $875 million FY2025 | 94.1% | 39.0% | 30.2% |
| [Repligen Corporation (RGEN)](https://www.getswoopr.com/stocks/companies/repligen-corporation/) | $738 million FY2025 | 16.4% | 7.5% | 6.6% |
| [Tarsus Pharmaceuticals Inc. (TARS)](https://www.getswoopr.com/stocks/companies/tarsus-pharmaceuticals-inc/) | $451 million FY2025 | 146.7% | -15.7% | -14.6% |
| [Krystal Biotech Inc. (KRYS)](https://www.getswoopr.com/stocks/companies/krystal-biotech-inc/) | $389 million FY2025 | 33.9% | 41.5% | 52.6% |
| [Twist Bioscience Corporation (TWST)](https://www.getswoopr.com/stocks/companies/twist-bioscience-corporation/) | $377 million FY2025 | 20.3% | -36.2% | -20.6% |
| [Adaptive Biotechnologies Corporation (ADPT)](https://www.getswoopr.com/stocks/companies/adaptive-biotechnologies-corporation/) | $277 million FY2025 | 54.8% | -20.6% | -21.5% |
| [Iovance Biotherapeutics Inc. (IOVA)](https://www.getswoopr.com/stocks/companies/iovance-biotherapeutics-inc/) | $264 million FY2025 | 60.6% | -153.1% | -148.4% |
| [REGENXBIO Inc. (RGNX)](https://www.getswoopr.com/stocks/companies/regenxbio-inc/) | $170 million FY2025 | 104.5% | -94.6% | -113.8% |
| [Ginkgo Bioworks Holdings Inc. (DNA)](https://www.getswoopr.com/stocks/companies/ginkgo-bioworks-holdings-inc/) | $170 million FY2025 | -25.1% | -185.3% | -0.2% |
| [Maze Therapeutics Inc. (MAZE)](https://www.getswoopr.com/stocks/companies/maze-therapeutics-inc/) | $168 million FY2024 | n/a | 34.4% | 31.2% |
| [Beam Therapeutics Inc. (BEAM)](https://www.getswoopr.com/stocks/companies/beam-therapeutics-inc/) | $140 million FY2025 | 120.0% | -274.6% | -57.2% |
| [Monte Rosa Therapeutics Inc. (GLUE)](https://www.getswoopr.com/stocks/companies/monte-rosa-therapeutics-inc/) | $124 million FY2025 | 63.5% | -43.8% | -31.2% |
| [Atara Biotherapeutics Inc. (ATRA)](https://www.getswoopr.com/stocks/companies/atara-biotherapeutics-inc/) | $121 million FY2025 | -6.3% | 29.7% | 27.1% |
| [Agenus Inc. (AGEN)](https://www.getswoopr.com/stocks/companies/agenus-inc/) | $114 million FY2025 | 10.4% | -17.7% | -2.7% |
| [ImmunityBio Inc. (IBRX)](https://www.getswoopr.com/stocks/companies/immunitybio-inc/) | $113 million FY2025 | 668.3% | -226.0% | -310.3% |
| [Century Therapeutics Inc. (IPSC)](https://www.getswoopr.com/stocks/companies/century-therapeutics-inc/) | $109 million FY2025 | 1556.8% | -15.8% | -8.8% |
| [Sutro Biopharma Inc. (STRO)](https://www.getswoopr.com/stocks/companies/sutro-biopharma-inc/) | $102 million FY2025 | 65.2% | -154.5% | -186.4% |
| [4D Molecular Therapeutics Inc. (FDMT)](https://www.getswoopr.com/stocks/companies/4d-molecular-therapeutics-inc/) | $85 million FY2025 | 230194.6% | -187.2% | -164.4% |
| [MeiraGTx Holdings plc (MGTX)](https://www.getswoopr.com/stocks/companies/meiragtx-holdings-plc/) | $81 million FY2025 | 144.6% | -130.2% | -140.3% |
| [Recursion Pharmaceuticals Inc. (RXRX)](https://www.getswoopr.com/stocks/companies/recursion-pharmaceuticals-inc/) | $75 million FY2025 | 26.9% | -867.9% | -863.4% |
| [Black Diamond Therapeutics Inc. (BDTX)](https://www.getswoopr.com/stocks/companies/black-diamond-therapeutics-inc/) | $70 million FY2025 | n/a | 17.9% | 31952.9% |
| [Champions Oncology Inc. (CSBR)](https://www.getswoopr.com/stocks/companies/champions-oncology-inc/) | $59 million FY2026 | 4.4% | -1.9% | -0.0% |
| [Invivyd Inc. (IVVD)](https://www.getswoopr.com/stocks/companies/invivyd-inc/) | $53 million FY2025 | 110.5% | -104.0% | -98.2% |
| [BioStem Technologies Inc. (BSEM)](https://www.getswoopr.com/stocks/companies/biostem-technologies-inc/) | $47 million FY2025 | -31.8% | -1.5% | -13.9% |
| [Fennec Pharmaceuticals Inc. (FENC)](https://www.getswoopr.com/stocks/companies/fennec-pharmaceuticals-inc/) | $45 million FY2025 | -6.1% | -14.1% | -21820.3% |
| [Coherus Oncology Inc. (CHRS)](https://www.getswoopr.com/stocks/companies/coherus-oncology-inc/) | $42 million FY2025 | 59.8% | -429.5% | 398.4% |
| [Editas Medicine Inc. (EDIT)](https://www.getswoopr.com/stocks/companies/editas-medicine-inc/) | $41 million FY2025 | 25.4% | -394.9% | -395.0% |
| [Voyager Therapeutics Inc. (VYGR)](https://www.getswoopr.com/stocks/companies/voyager-therapeutics-inc/) | $40 million FY2025 | -49.5% | -326.6% | -296.5% |
| [Kymera Therapeutics Inc. (KYMR)](https://www.getswoopr.com/stocks/companies/kymera-therapeutics-inc/) | $39 million FY2025 | -16.7% | -891.1% | 794.0% |
| [C4 Therapeutics Inc. (CCCC)](https://www.getswoopr.com/stocks/companies/c4-therapeutics-inc/) | $36 million FY2025 | 1.0% | -320.5% | -292.1% |
| [Precision BioSciences Inc. (DTIL)](https://www.getswoopr.com/stocks/companies/precision-biosciences-inc/) | $34 million FY2025 | -50.1% | -152.2% | -133.4% |
| [Scilex Holding Company (SCLX)](https://www.getswoopr.com/stocks/companies/scilex-holding-company/) | $30 million FY2025 | -46.5% | -1143.7% | -1236.4% |
| [Metagenomi Therapeutics Inc. (MGX)](https://www.getswoopr.com/stocks/companies/metagenomi-therapeutics-inc/) | $25 million FY2025 | -51.8% | -380.9% | -348.5% |
| [Alector Inc. (ALEC)](https://www.getswoopr.com/stocks/companies/alector-inc/) | $21 million FY2025 | -79.1% | -741.3% | -679.5% |
| [LENZ Therapeutics Inc. (LENZ)](https://www.getswoopr.com/stocks/companies/lenz-therapeutics-inc/) | $19 million FY2025 | n/a | -477.5% | -430.3% |
| [Relay Therapeutics Inc. (RLAY)](https://www.getswoopr.com/stocks/companies/relay-therapeutics-inc/) | $15 million FY2025 | 53.4% | -1971.6% | -1800.6% |
| [Lineage Cell Therapeutics Inc. (LCTX)](https://www.getswoopr.com/stocks/companies/lineage-cell-therapeutics-inc/) | $15 million FY2025 | 53.2% | -251.6% | -436.5% |
| [Elutia Inc. (ELUT)](https://www.getswoopr.com/stocks/companies/elutia-inc/) | $12 million FY2025 | -15.0% | -218.9% | 434.2% |
| [Caribou Biosciences Inc. (CRBU)](https://www.getswoopr.com/stocks/companies/caribou-biosciences-inc/) | $11 million FY2025 | 11.7% | -1329.4% | -1327.4% |
| [TScan Therapeutics Inc. (TCRX)](https://www.getswoopr.com/stocks/companies/tscan-therapeutics-inc/) | $10 million FY2025 | 266.7% | -1315.4% | -1256.8% |
| [Taysha Gene Therapies Inc. (TSHA)](https://www.getswoopr.com/stocks/companies/taysha-gene-therapies-inc/) | $10 million FY2025 | 17.3% | -1130.6% | -1115.3% |
| [Curis Inc. (CRIS)](https://www.getswoopr.com/stocks/companies/curis-inc/) | $9 million FY2025 | -13.4% | -60.5% | -80.3% |
| [Solid Biosciences Inc. (SLDB)](https://www.getswoopr.com/stocks/companies/solid-biosciences-inc/) | $8 million FY2022 | n/a | -1315.2% | -1062.3% |
| [Fate Therapeutics Inc. (FATE)](https://www.getswoopr.com/stocks/companies/fate-therapeutics-inc/) | $7 million FY2025 | -51.2% | -2222.4% | -2051.1% |
| [X4 Pharmaceuticals Inc. (XFOR)](https://www.getswoopr.com/stocks/companies/x4-pharmaceuticals-inc/) | $7 million FY2025 | 150.0% | -1336.7% | -1218.4% |
| [Prime Medicine Inc. (PRME)](https://www.getswoopr.com/stocks/companies/prime-medicine-inc/) | $5 million FY2025 | 55.3% | -4498.1% | -4342.4% |
| [Ocugen Inc. (OCGN)](https://www.getswoopr.com/stocks/companies/ocugen-inc/) | $4 million FY2025 | 8.8% | -1425.7% | -1540.9% |
| [CG Oncology Inc. (CGON)](https://www.getswoopr.com/stocks/companies/cg-oncology-inc/) | $4 million FY2025 | 254.7% | -4722.1% | -3985.1% |
| [Surrozen Inc. (SRZN)](https://www.getswoopr.com/stocks/companies/surrozen-inc/) | $3 million FY2025 | -67.4% | -1210.6% | -6960.8% |
| [Dyadic International Inc. (DYAI)](https://www.getswoopr.com/stocks/companies/dyadic-international-inc/) | $3 million FY2025 | -11.6% | -232.8% | -238.3% |
| [Aligos Therapeutics Inc. (ALGS)](https://www.getswoopr.com/stocks/companies/aligos-therapeutics-inc/) | $2 million FY2025 | -39.5% | -4024.9% | -1106.7% |
| [Humacyte Inc. (HUMA)](https://www.getswoopr.com/stocks/companies/humacyte-inc/) | $2 million FY2025 | n/a | -5306.0% | -2003.6% |
| [Outlook Therapeutics Inc. (OTLK)](https://www.getswoopr.com/stocks/companies/outlook-therapeutics-inc/) | $1 million FY2025 | n/a | -4744.3% | -4416.2% |
| [Inhibrx Biosciences Inc. (INBX)](https://www.getswoopr.com/stocks/companies/inhibrx-biosciences-inc/) | $1 million FY2025 | 550.0% | -10386.5% | -10773.5% |
| [ProKidney Corp. (PROK)](https://www.getswoopr.com/stocks/companies/prokidney-corp/) | $893,000 FY2025 | 1075.0% | -18477.8% | -7725.2% |
| [ImageneBio Inc. (IMA)](https://www.getswoopr.com/stocks/companies/imagenebio-inc/) | $800,000 FY2025 | -77.1% | -6056.4% | -5668.6% |
| [Lexeo Therapeutics Inc. (LXEO)](https://www.getswoopr.com/stocks/companies/lexeo-therapeutics-inc/) | $654,000 FY2022 | n/a | -9252.1% | -9063.8% |
| [Cardiff Oncology Inc. (CRDF)](https://www.getswoopr.com/stocks/companies/cardiff-oncology-inc/) | $593,000 FY2025 | -13.2% | -8256.3% | -7.7% |
| [aTyr Pharma Inc. (ATYR)](https://www.getswoopr.com/stocks/companies/atyr-pharma-inc/) | $190,000 FY2025 | -19.1% | -40856.3% | -39009.5% |
| [VivoSim Labs Inc. (VIVS)](https://www.getswoopr.com/stocks/companies/vivosim-labs-inc/) | $131,000 FY2026 | -9.0% | -8768.7% | -10567.2% |
| [Candel Therapeutics Inc. (CADL)](https://www.getswoopr.com/stocks/companies/candel-therapeutics-inc/) | $125,000 FY2022 | n/a | -27777.6% | -15035.2% |
| [eXoZymes Inc. (EXOZ)](https://www.getswoopr.com/stocks/companies/exozymes-inc/) | $70,069 FY2023 | n/a | -2563.5% | -2909.1% |
| [INmune Bio Inc. (INMB)](https://www.getswoopr.com/stocks/companies/inmune-bio-inc/) | $50,000 FY2025 | 257.1% | -94766.0% | -92000.0% |
| [Senti Biosciences Holdings Inc. (SNTI)](https://www.getswoopr.com/stocks/companies/senti-biosciences-holdings-inc/) | $22,000 FY2025 | n/a | -312631.8% | -279263.6% |
| [Creative Medical Technology Holdings Inc. (CELZ)](https://www.getswoopr.com/stocks/companies/creative-medical-technology-holdings-inc/) | $6,000 FY2025 | -45.5% | -102380.2% | -99916.8% |
| [Allogene Therapeutics Inc. (ALLO)](https://www.getswoopr.com/stocks/companies/allogene-therapeutics-inc/) | $0 FY2025 | -100.0% | n/a | n/a |
| [Artiva Biotherapeutics Inc. (ARTV)](https://www.getswoopr.com/stocks/companies/artiva-biotherapeutics-inc/) | $0 FY2025 | -100.0% | n/a | n/a |
| [BioCardia Inc. (BCDA)](https://www.getswoopr.com/stocks/companies/biocardia-inc/) | $0 FY2025 | -100.0% | n/a | n/a |
| [Compass Therapeutics Inc. (CMPX)](https://www.getswoopr.com/stocks/companies/compass-therapeutics-inc/) | $0 FY2025 | -100.0% | n/a | n/a |
| [Cullinan Therapeutics Inc. (CGEM)](https://www.getswoopr.com/stocks/companies/cullinan-therapeutics-inc/) | $0 FY2022 | n/a | n/a | n/a |
| [Denali Therapeutics Inc. (DNLI)](https://www.getswoopr.com/stocks/companies/denali-therapeutics-inc/) | $0 FY2025 | n/a | n/a | n/a |
| [Eloxx Pharmaceuticals Inc. (ELOX)](https://www.getswoopr.com/stocks/companies/eloxx-pharmaceuticals-inc/) | $0 FY2025 | -100.0% | n/a | n/a |
| [Inhibikase Therapeutics Inc. (IKT)](https://www.getswoopr.com/stocks/companies/inhibikase-therapeutics-inc/) | $0 FY2024 | -100.0% | n/a | n/a |
| [Palisade Bio Inc. (PALI)](https://www.getswoopr.com/stocks/companies/palisade-bio-inc/) | $0 FY2025 | n/a | n/a | n/a |
| [PharmaCyte Biotech Inc. (PMCB)](https://www.getswoopr.com/stocks/companies/pharmacyte-biotech-inc/) | $0 FY2026 | n/a | n/a | n/a |
| [Revolution Medicines Inc. (RVMD)](https://www.getswoopr.com/stocks/companies/revolution-medicines-inc/) | $0 FY2025 | n/a | n/a | n/a |
| [SAB Biotherapeutics Inc. (SABS)](https://www.getswoopr.com/stocks/companies/sab-biotherapeutics-inc/) | $0 FY2025 | -100.0% | n/a | n/a |
| [Scholar Rock Holding Corporation (SRRK)](https://www.getswoopr.com/stocks/companies/scholar-rock-holding-corporation/) | $0 FY2025 | n/a | n/a | n/a |

Revenue growth compares each company's latest fiscal year with the one before. Fiscal years do not always end on the same date, so treat close comparisons with care.

## How Does Biogen Rank Among All SEC Filers in Its Industry Code?

74 companies with annual reports in Swoopr's SEC dataset share SIC code 2836 (Biological Products, (No Diagnostic Substances)), a wider group than the S&P 500 Equal Weight companies above. Ranks run from 1 (highest) and use each company's latest fiscal year, in U.S. dollars.

| Measure | Biogen | Median of filers | Rank |
| --- | --- | --- | --- |
| Revenue | $9.9 billion | $40 million | 3 of 74 |
| Revenue growth | 2.2% | 14.0% | 41 of 64 |
| Net margin | 13.1% | -212.3% | 15 of 74 |

A SIC code reflects the filer's main business as the SEC records it, so the group mixes companies of very different size; the median is a better guide than the average, and a rank near the top by revenue says nothing about quality.

## Where These Numbers Come From

Every figure on this page is a value Biogen reported in its own SEC filings, read from the SEC's XBRL data (accession 0000875045-26-000013 for fiscal year 2025). Ratios are computed from those reported values. Figures were retrieved on October 7, 2026; a later amendment or a new annual report can change them, and the filing itself always takes precedence over this summary.

Each fiscal year is labeled by the calendar year in which it ended, so a company that names the same period differently in its own filings (many retailers whose year ends in January) may use another label. A year is left out of the table when the SEC data set holds no value for it. A figure shown as "Not reported" means the company did not file a value under the standard tag Swoopr reads, not that the amount was zero. This page is educational and describes reported history only; it is not a forecast or a recommendation.

## Frequently Asked Questions

### Who are Biogen's competitors?

Companies sharing Biogen's SEC classification (SIC code 2836 (Biological Products, (No Diagnostic Substances))) include Amgen (AMGN), Gilead Sciences (GILD), Neurocrine Biosciences Inc. (NBIX), Exelixis Inc. (EXEL), Moderna (MRNA). Its 10-K names the competitors it considers most relevant.

### How does Biogen compare with its peers on margins?

A margin comparison needs reported operating income for Biogen and its peers; where either is missing, Swoopr leaves the comparison out.

### How are these peers chosen?

By the SEC Standard Industrial Classification code each company files under, within Swoopr's S&P 500 Equal Weight company set, falling back to the two-digit major group when fewer than two companies share the exact code. Classification codes are broad, so read the peer list as a screen, not a verdict.

### How does Biogen rank among all companies in its SEC industry?

Among 74 SEC filers under SIC code 2836, Biogen ranks 3 by latest revenue.

## References

- [SEC EDGAR: BIOGEN INC. Form 10-K filed February 6, 2026](https://www.sec.gov/Archives/edgar/data/875045/000087504526000013/biib-20251231.htm)
- [SEC EDGAR: BIOGEN INC. annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=875045&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)

## Related Pages

- [Biogen company dossier](https://www.getswoopr.com/stocks/companies/biogen/)
- [Biogen financial metrics](https://www.getswoopr.com/stocks/companies/biogen/metrics/)
- [Biogen financial risk indicators](https://www.getswoopr.com/stocks/companies/biogen/risks/)
- [Biogen peer comparison](https://www.getswoopr.com/stocks/companies/biogen/competitors/)
- [Biogen business model and revenue mix](https://www.getswoopr.com/stocks/companies/biogen/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)





**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**



Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).