Biogen Reports Progress on Corporate Responsibility Priorities

Rhea-AI Summary

Biogen Inc. (Nasdaq: BIIB) released its 2023 Corporate Responsibility Report, highlighting progress in key areas such as access to medicines, workforce diversity, community impact, and environmental sustainability. The report showcases achievements like adding new medicines to the portfolio, expanding access to treatments, increasing workforce diversity, supporting local communities, and enhancing environmental initiatives.

Positive

• Biogen added four first-in-class medicines to its portfolio, expanding treatment options for patients.

• The company increased access to SPINRAZA®, now available in 70 countries for those with spinal muscular atrophy.

• Biogen saw a 35% increase in patients accessing tofersen through the Early Access Program.

• The workforce and DE&I efforts led to an 81% employee satisfaction rate, with a focus on innovation and culture.

• Biogen contributed significantly to local communities through programs like the CoLab science education initiative and food security initiatives.

• The company enhanced its environmental sustainability efforts by certifying 100% of its labs through My Green Lab and maintaining a commitment to 100% renewable electricity.

Negative

• None.

• Efforts focused on four areas: access and health equity, workforce and DE&I, community impact and the environment
  

CAMBRIDGE, Mass., May 02, 2024 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB) today announced publication of its 2023 Corporate Responsibility Report detailing progress on the company’s commitment to making responsible business decisions in the best interests of all its stakeholders.

“As we reflect on the past year and set our sights on the path ahead, I am truly inspired by the progress we have made to advance Biogen’s enduring legacy of pioneering innovative science to deliver medicines that transform patients’ lives and create value for our communities and our shareholders,” said Christopher A. Viehbacher, Biogen President and Chief Executive Officer. “Our mission and business strategy are grounded in our commitment to responsible business, and in 2023, we refined our corporate responsibility strategy to advance our evolving business priorities and align with areas where we believe we can have the greatest impact.”

The Corporate Responsibility Report details progress across four key pillars:

• Access & Health Equity: Added four first-in-class medicines to the portfolio, LEQEMBI®, QALSODY®, SKYCLARYS® and ZURZUVAE™ and expanded access to SPINRAZA®, which is now available in 70 countries, for people living with spinal muscular atrophy. Realized a 35% increase in the number of patients with access to tofersen through Biogen’s Early Access Program. In 2023, 89% of clinical trials delivered race and ethnicity enrollment targets that reflect the epidemiology of the disease.
• Workforce & DE&I: Increased focus on employee engagement, spirit of innovation and culture while building on our strengths with a results-oriented mindset. In its annual internal survey, 81% of participating employee respondents said they have a sense of purpose by doing meaningful work at Biogen. Also fostered an employee base reflective of the broader workforce, with 48.6% of roles at the Director level and above globally held by women and 31.2% racial/ethnic representation across U.S. roles at the Manager level and above.
• Community Impact: Continued to make meaningful contributions to local communities. In 2023, Biogen refreshed its flagship science education program, which has reached more than 64,000 students since 2002, under the new CoLab name, expanding its reach and partnerships. Through the Biogen Foundation, worked to address social determinants of health, such as food security and access to healthcare, investing $4.37 million in grants and providing more than 750,000 meals to local families. Employees volunteered more than 10,000 hours.
• Environment: Revised environmental strategy, deepening the focus on efficiencies that can deliver both cost savings and environmental benefits. In 2023, Biogen was the first large biotech to certify 100% of its labs through My Green Lab, a program recognized by the United Nations Race to Zero campaign as the leading standard for laboratory sustainability. In addition, the company maintained a commitment to 100% renewable electricity across its sites and facilities. Biogen also conducted four life cycle assessments of how its products impact the environment.

The 2023 Corporate Responsibility Report is aligned with GRI, SASB, the Task Force on Climate-Related Financial Disclosures (TCFD) and reflects its commitment to the U.N. Sustainable Development Goals (SDGs).

To access the full report and learn more about Biogen's corporate responsibility initiatives, visit http://www.biogen.com/esgreport.

About Biogen
Founded in 1978, Biogen is a leading biotechnology company that pioneers innovative science to deliver new medicines to transform patients’ lives and to create value for shareholders and our communities. We apply deep understanding of human biology and leverage different modalities to advance first-in-class treatments or therapies that deliver superior outcomes. Our approach is to take bold risks, balanced with return on investment to deliver long-term growth.

We routinely post information that may be important to investors on our website at www.biogen.com. Follow us on social media - Facebook, LinkedIn, X, YouTube.

Biogen Safe Harbor 
This press release contains forward-looking statements, relating to: our strategy and plans; potential of, and expectations for, our commercial business and pipeline programs; corporate responsibility strategy, capital allocation and investment strategy; clinical development programs, clinical trials, and data readouts and presentations; regulatory discussions, submissions, filings, and approvals; the potential benefits, safety, and efficacy of our and our collaboration partners’ products and investigational therapies; the anticipated benefits and potential of investments. These forward-looking statements may be accompanied by such words as “aim,” “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “goal,” “intend,” “may,” “plan,” “potential,” “possible,” “prospect,” “will,” “would,” and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. 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 products; uncertainty of long-term success in developing, licensing, or acquiring other product candidates or additional indications for existing products; failure to compete effectively; failure to successfully execute or realize the anticipated benefits of our strategic and growth initiatives; difficulties in obtaining and maintaining adequate coverage, pricing, and reimbursement for our products; our dependence on collaborators and other third parties for the development, regulatory approval, and commercialization of products and other aspects of our business, which are outside of our full control; risks associated with current and potential future healthcare reforms; risks related to commercialization of biosimilars; failure to obtain, protect, and enforce our data, intellectual property, and other proprietary rights and the risks and uncertainties relating to intellectual property claims and challenges; 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; 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 occurrence of adverse safety events, restrictions on use with our products, or product liability claims; risks relating to technology failures or breaches; problems with our manufacturing processes; risks relating to management, personnel and other organizational changes, including attracting and retaining personnel; failure to comply with legal and regulatory requirements; the risks of doing business internationally, including currency exchange rate fluctuations; risks relating to investment in our manufacturing capacity; risks relating to the distribution and sale by third parties of counterfeit or unfit versions of our products; risks relating to the use of social media and artificial intelligence based software for our business; results of operations, and financial condition; fluctuations in our operating results; risks related to investment in properties; risks relating to access to capital and credit markets; risks related to indebtedness; the market, interest, and credit risks associated with our investment portfolio; risks relating to share repurchase programs; change in control provisions in certain of our collaboration agreements; fluctuations in our effective tax rate; environmental risks; and any other risks and uncertainties that are described in other reports we have filed with the U.S. Securities and Exchange Commission. These statements speak only as of the date of this press release. We do not undertake any obligation to publicly update any forward-looking statements.

MEDIA CONTACT: Biogen Jack Cox + 1 781 464 3260 public.affairs@biogen.com

INVESTOR CONTACT: Biogen Chuck Triano +1 781 464 2442 IR@biogen.com