Revenue Recognition and Collaborative Arrangements

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition and Collaborative Arrangements

3. Revenue Recognition and Collaborative Arrangements

We recognize royalty revenue on net sales of products with respect to which we have contractual royalty rights in the period in which the royalties are earned. Royalties, which may include adjustments of estimates of net sales in prior periods, are recognized net of amortization of capitalized fees associated with any approval and launch milestone payments made to GSK.

Net Revenue from Collaborative Arrangements

Net revenue recognized under our GSK Agreements was as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
(In thousands)	2022			2021			2022			2021
Royalties from a related party    - RELVAR/BREO	$	59,326		$	65,916		$	115,090		$	122,306
Royalties from a related party    - ANORO		9,630			11,960			18,072			22,460
Royalties from a related party    - TRELEGY		42,720			26,386			72,029			48,470
Total royalties from a related party		111,676			104,262			205,191			193,236
Less: amortization of capitalized fees    paid to a related party		(3,456	)		(3,456	)		(6,912	)		(6,912	)
Royalty revenue from GSK	$	108,220		$	100,806		$	198,279		$	186,324