XML 44 R28.htm IDEA: XBRL DOCUMENT v3.22.0.1
Collaboration, License, and Other Agreements (Tables)
 12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
Schedule of collaboration revenue
Net product sales consist of the following:
(In millions)Year Ended December 31,
Net Product Sales in the United States202120202019
EYLEA®
$5,792.3 $4,947.2 $4,644.2 
Libtayo®
306.3 270.7 175.7 
Praluent®
170.0 150.9 **
REGEN-COV***
5,828.0 185.7 — 
Evkeeza®
18.4 — — 
ARCALYST®
2.2 **13.1 14.5 
$12,117.2 $5,567.6 $4,834.4 
* Effective April 1, 2020, the Company became solely responsible for the development and commercialization of Praluent in the United States and records net product sales of Praluent in the United States. Previously, Sanofi recorded net product sales of Praluent in the United States. See Note 3 for further details.
** Effective April 1, 2021, Kiniksa records net product sales of ARCALYST in the United States. Previously, the Company recorded net product sales of ARCALYST in the United States.
*** Net product sales of REGEN-COV in the United States relate to product sold in connection with our agreements with the U.S. government. See Note 3 for further details.
Amounts recognized in our Statements of Operations in connection with our collaborations with Sanofi are detailed below:
Statement of Operations ClassificationYear Ended December 31,
(In millions)202120202019
Antibody:
Regeneron's share of profits in connection with commercialization of antibodiesSanofi collaboration revenue$1,363.0 $785.2 $209.3 
Sales-based milestones earnedSanofi collaboration revenue$50.0 $50.0 — 
Reimbursement for manufacturing of commercial suppliesSanofi collaboration revenue$488.8 $368.0 $216.0 
Reimbursement of research and development expensesReduction of Research and development expense$175.9 $226.7 $277.7 
Regeneron's obligation for its share of Sanofi research and development expensesResearch and development expense$(46.7)$(77.6)$(46.0)
Reimbursement of commercialization-related expenses Reduction of Selling, general, and administrative expense$320.5 $359.4 $479.9 
Immuno-oncology:
Regeneron's share of losses in connection with commercialization of Libtayo outside the United StatesSanofi collaboration revenue$(13.6)$(25.7)$(21.7)
Reimbursement for manufacturing of commercial suppliesSanofi collaboration revenue$14.0 $8.9 — 
Reimbursement of research and development expensesReduction of Research and development expense$85.1 $166.2 $163.0 
Reimbursement of commercialization-related expenses Reduction of Selling, general, and administrative expense$89.6 $64.7 $10.3 
Regeneron's obligation for its share of Sanofi commercial expensesSelling, general, and administrative expense$(36.3)$(22.4)$(15.4)
Regeneron's obligation for Sanofi's share of Libtayo U.S. gross profitsCost of goods sold$(133.0)$(119.1)$(78.2)
Amounts recognized in connection with up-front payments receivedOther operating income$6.1 $210.6 $92.7 
Amounts recognized in our Statements of Operations in connection with our Bayer collaboration are as follows:
Statement of Operations ClassificationYear Ended December 31,
(In millions)202120202019
Regeneron's net profit in connection with commercialization of EYLEA outside the United States
Other collaboration revenue$1,349.2 $1,107.9 $1,091.4 
Reimbursement for manufacturing of commercial supplies
Other collaboration revenue$60.1 $78.2 $54.2 
Reimbursement of development expenses
Reduction of Research and development expense
$46.1 $46.7 $23.0 
Regeneron's obligation for its share of Bayer research and development expenses
Research and development expense
$(40.9)$(35.8)$(20.1)
Amounts recognized in our Statements of Operations in connection with the Teva Collaboration Agreement are as follows:
Statement of Operations ClassificationYear Ended December 31,
(In millions)202120202019
Reimbursement of research and development expenses
Reduction of Research and development expense
$42.4 $109.4 $122.9 
Amounts recognized in connection with up-front and development milestone payments received
Other operating income
$26.2 $47.2 $82.2 
Amounts recognized in our Statements of Operations in connection with the Roche Collaboration Agreement are as follows:
Statement of Operations ClassificationYear Ended December 31,
(In millions)20212020
Global gross profit true-up payment from Roche in connection with sales of casirivimab and imdevimabOther collaboration revenue$361.8 — 
Reimbursement of research and development expensesReduction of Research and development expense$128.1 $78.5 
Global gross profit true-up payment to Roche in connection with sales of casirivimab and imdevimabCost of goods sold$259.6 — 
Schedule of accounts receivable and deferred revenue information
The following table summarizes contract balances in connection with the Company's Antibody Collaboration with Sanofi:
As of December 31,
(In millions)20212020
Accounts receivable, net$504.8 $407.7 
Deferred revenue
$368.7 $347.7 
The following table summarizes contract balances in connection with the Company's IO Collaboration with Sanofi:
As of December 31,
(In millions)20212020
Accounts receivable, net
$(22.5)$(6.5)
Deferred revenue
$16.0 $10.7 
Other liabilities
$276.1 $280.9 
Other liabilities include up-front payments received from Sanofi for which recognition has been deferred.
The following table summarizes contract balances in connection with our Bayer collaboration:
As of December 31,
(In millions)20212020
Accounts receivable, net$355.5 $336.2 
Deferred revenue
$129.4 $99.7 
The following table summarizes contract balances in connection with the Teva Collaboration Agreement:
As of December 31,
(In millions)20212020
Accounts receivable, net$11.0 $27.7 
Other liabilities$39.7 $66.8 
The following table summarizes contract balances in connection with the Roche Collaboration Agreement:
As of December 31,
(In millions)20212020
Accounts receivable, net— $77.1 
Accrued expenses and other current liabilities$268.8 —