United states securities and exchange commission

Table of Contents
BIOGEN INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
F- 24
liabilities that may exist relating to its business activities, whether incurred prior to or after the distribution, including 
any pending or future litigation.
The services under these agreements generally commenced on February 1, 2017 (the distribution date), and 
terminate within 12 months of the distribution date, with the exception of the manufacturing and supply agreement, 
which has an initial term of 5 years, with a 5 year extension at Bioverativ's sole discretion and a further 5 year 
extension with Bioverativ's and our consent. 
In connection with the distribution we made a net cash contribution to Bioverativ, during the first quarter of 
2017, totaling $302.7 million. The following table summarizes the assets and liabilities that were charged against 
equity as a result of the spin-off of our hemophilia business:
(In millions)
Assets
Cash
$
302.7
Accounts receivable
144.7
Inventory
116.1
Property, plant and equipment, net
20.2
Intangible assets, net
56.8
Goodwill
314.1
Other, net
53.7
Assets transferred, net
$
1,008.3
Liabilities
Accrued expenses and other current liabilities
$
87.8
Other long-term liabilities
67.7
Liabilities transferred, net
$
155.5
Pursuant to the terms of our agreements with Bioverativ, upon completion of the spin-off, we distributed 
ALPROLIX and ELOCTATE on behalf of Bioverativ until Bioverativ obtained appropriate regulatory authorizations in 
certain countries, including a Biologics License Application transfer in the U.S., which was received in September 
2017. Accordingly, commencing October 2017, we ceased distribution of ALPROLIX and ELOCTATE on behalf of 
Bioverativ under this arrangement.
Under the manufacturing and supply agreement, we manufacture and supply certain products and materials to 
Bioverativ. For the year ended December 31, 2017, we recognized $64.8 million in revenues in relation to these 
contract manufacturing services, which is reflected as a component of other royalty and corporate revenues in our 
consolidated statements of income. We also recorded $15.1 million as cost of sales in relation to these services 
during the year ended December 31, 2017.
Amounts earned under the non-manufacturing and supply related transaction service agreements are recorded 
as a reduction of costs and expenses in their respective expense line items. These amounts, which were primarily 
reflected as a reduction to selling, general and administrative expenses in our consolidated statements of income, 
were not significant for the year ended December 31, 2017.
Hemophilia related product revenues reflected in our consolidated statements of income for the years ended 
December 31, 2017, 2016 and 2015 totaled $74.4 million, $846.9 million and $554.2 million, respectively. Results 
for the year ended December 31, 2017 only reflect hemophilia-related product revenues through January 31, 2017.
Patents
Prior to the spin-off of our hemophilia business, we were awarded various methods of treatment and 
composition of matter patents related to ELOCTATE and ALPROLIX. Upon completion of the spin-off, these patents 
were transferred to the patent portfolio of Bioverativ.  

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Table of Contents
BIOGEN INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
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4.      Restructuring, Business Transformation and Other Cost Saving Initiatives
2017 Corporate Strategy
In July 2017 we announced an updated strategic framework to optimize the value of our MS business while 
investing for the future across our core growth areas of MS and neuroimmunology, AD and dementia, movement 
disorders and neuromuscular diseases including SMA and ALS. We also plan to invest in emerging growth areas 
such as pain, ophthalmology, neuropsychiatry and acute neurology. In addition, we are employing innovative 
technologies to discover potential treatments for rare and genetic disorders, including new ways of treating diseases 
through gene therapy in the previously mentioned areas. 
In order to deliver positive results in the near term while investing in the next stages of our growth, we will focus 
on the following strategic priorities:
•  maximizing the resilience of our MS core business;
•  accelerating efforts in SMA as a significant new growth opportunity;
•  developing and expanding our neuroscience portfolio;
•  focusing our capital allocation efforts to drive investment for future growth; and
•  creating a leaner and simpler operating model to streamline our operations and reallocate resources towards 
prioritized research and development and commercial value creation opportunities.
In October 2017, in connection with creating a leaner and simpler operating model, we approved a corporate 
restructuring program intended to streamline our operations and reallocate resources. We expect to make total non-
recurring operating and capital expenditures of up to $170.0 million, primarily in 2018, and our goal is to redirect 
resources of up to $400.0 million annually by 2020 to prioritized research and development and other value creation 
opportunities.
For the year ended December 31, 2017, we recognized charges in our consolidated statements of income 
totaling $19.4 million related to this effort, of which $18.5 million is included in selling, general and administrative 
expense and $0.9 million is reflected as restructuring charges. These restructuring charges, which were substantially 
incurred and paid in 2017, were primarily related to severance.
2016 Organizational Changes and Cost Saving Initiatives
2016 Restructuring Charges
During the third quarter of 2016 we initiated cost saving measures primarily intended to realign our 
organizational structure due to the changes in roles and workforce resulting from our decision to spin-off our 
hemophilia business, and to achieve further targeted cost reductions. For the year ended December 31, 2016, we 
recognized charges totaling $17.7 million related to this effort, which are in addition to, and separate from, the 2015 
restructuring charges described below. These amounts, which were substantially incurred and paid by the end of 
2016, were primarily related to severance and are reflected in restructuring charges in our consolidated statements 
of income.
Cambridge, MA Manufacturing Facility
In June 2016 following an evaluation of our current and future manufacturing capabilities and capacity needs, 
we determined that we intended to cease manufacturing and vacate our 67,000 square foot small-scale biologics 
manufacturing facility in Cambridge, MA and close and vacate our 46,000 square foot warehouse space in 
Somerville, MA.
In December 2016 we subleased our rights to the Cambridge, MA manufacturing facility to Brammer Bio 
MA, LLC (Brammer). Brammer also purchased from us certain manufacturing equipment, leasehold improvements 
and other assets in exchange for shares of Brammer common LLC interests and assumed manufacturing operations 
effective January 1, 2017. In December 2016 we closed and vacated our warehouse space in Somerville, MA.
Our departure from these facilities shortened the expected useful lives of certain leasehold improvements and 
other assets at these facilities. As a result, we recorded additional depreciation expense to reflect the assets' new 

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