Biogen Inc. (BIIB) reported on July 1, 2026, that its upcoming financial results will include sizable acquired in-process research and development, upfront and milestone expenses tied to collaboration, licensing and related transactions. In an Item 2.02 Form 8-K covering results of operations and financial condition, the company said it expects its GAAP and non-GAAP results for the second quarter of 2026 to include approximately **$164 million** of acquired in-process research and development, upfront and milestone expense on a pre-tax basis. Biogen estimated that the charge will reduce both GAAP and non-GAAP net income per diluted share for the quarter by approximately **$0.95 per share**. Biogen also said it anticipates additional similar expenses in the third quarter of 2026, ranging from approximately **$290 million to $320 million**. Those expected charges relate to potential milestones and transactions that had not yet closed as of the filing. The company estimated the third-quarter impact on GAAP and non-GAAP net income per diluted share at approximately **$1.75 to $1.95 per share**. The company explained that these expenses can include costs from collaboration and license agreements, such as upfront payments, milestone payments, premiums on equity securities and asset acquisitions involving acquired in-process research and development. Biogen noted that it does not forecast these expenses in its ordinary guidance because the occurrence, size and timing of such transactions are uncertain from period to period. The filing does not report an insider stock transaction, securities issuance, option award, share sale or change in ownership. Instead, it provides investors with an early warning that Biogen’s second- and third-quarter earnings will be meaningfully affected by business-development and pipeline-related expenses. The second-quarter figures remain preliminary and unaudited, and Biogen cautioned that final results for the quarter ended **June 30, 2026**, could differ after normal financial closing procedures are completed.