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International Internet Magazine. Baltic States news & analytics Friday, 10.07.2020, 20:17

Biogen establishes subsidiary in Lithuania

BC, Vilnius, 25.06.2020.Print version
Biogen, a US-best biotechnology company, one of the largest in the world, has established a subsidiary in Lithuania and it plans to research, produce, test and sell pharmaceutical and biological products., informs LETA/BNS.

Based on information from the Lithuanian Center of Registers, Biogen Lithuania was registered on June 22 and is led by Finnish citizen Mikko Juhani Fernstroem. The company's shares are owned by Switzerland's Biogen Swiss Investmens, part of the Biogen group.

Biogen posted 14.38 billion US dollars (12.75 billion euros) in revenue last year, up 6.9 percent from the same period last year, with 59 percent of it earned in the US market. The group's net profit rose 31.6 percent to 5.89 billion US dollars (5.22 billion euros).

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