XML 64 R28.htm IDEA: XBRL DOCUMENT v3.20.1
Revenues (Tables)
 3 Months Ended
Mar. 31, 2020
Revenue from Contract with Customer [Abstract]  
Revenues by product
Revenues by product are summarized as follows:
 
 
For the Three Months
Ended March 31,
(In millions)
 
2020
 
2019
 
 
United
States
 
Rest of
World
 
Total
 
United
States
 
Rest of
World
 
Total
Multiple Sclerosis (MS):
 
 
 
 
 
 
 
 
 
 
 
 
Fumarate*
 
$
777.5

 
$
323.3

 
$
1,100.8

 
$
717.7

 
$
281.1

 
$
998.8

Interferon**
 
292.6

 
173.4

 
466.0

 
327.3

 
173.6

 
500.9

TYSABRI
 
277.7

 
244.7

 
522.4

 
245.0

 
215.4

 
460.4

FAMPYRA
 
—

 
28.3

 
28.3

 
—

 
22.9

 
22.9

Subtotal: MS product revenues
 
1,347.8

 
769.7

 
2,117.5

 
1,290.0

 
693.0

 
1,983.0

 
 
 
 
 
 
 
 
 
 
 
 
 
Spinal Muscular Atrophy:
 
 
 
 
 

 
 
 
 
 

SPINRAZA
 
235.4

 
329.6

 
565.0

 
223.3

 
295.2

 
518.5

 
 
 
 
 
 
 
 
 
 
 
 
 
Biosimilars:
 
 
 
 
 

 
 
 
 
 

BENEPALI
 
—

 
133.5

 
133.5

 
—

 
124.0

 
124.0

IMRALDI
 
—

 
61.6

 
61.6

 
—

 
35.7

 
35.7

FLIXABI
 
—

 
23.7

 
23.7

 
—

 
14.7

 
14.7

Subtotal: Biosimilar product revenues
 
—

 
218.8

 
218.8

 
—

 
174.4

 
174.4

 
 
 
 
 
 
 
 
 
 
 
 
 
Other:
 
 
 
 
 
 
 
 
 
 
 
 
FUMADERM
 
—

 
3.3

 
3.3

 
—

 
4.1

 
4.1

Total product revenues
 
$
1,583.2

 
$
1,321.4

 
$
2,904.6

 
$
1,513.3

 
$
1,166.7

 
$
2,680.0

*Fumarate includes TECFIDERA and VUMERITY. VUMERITY became available in the U.S. in November 2019.
**Interferon includes AVONEX and PLEGRIDY.
Analysis of change In reserves
An analysis of the change in reserves for discounts and allowances is summarized as follows:
(In millions)
 
Discounts
 
Contractual
Adjustments
 
Returns
 
Total
Balance, as of December 31, 2019
 
$
131.1

 
$
1,027.3

 
$
40.5

 
$
1,198.9

Current provisions relating to sales in current year
 
200.7

 
827.9

 
4.7

 
1,033.3

Adjustments relating to prior years
 
(0.5
)
 
(15.9
)
 
(0.5
)
 
(16.9
)
Payments/credits relating to sales in current year
 
(73.4
)
 
(310.3
)
 
—

 
(383.7
)
Payments/credits relating to sales in prior years
 
(112.2
)
 
(432.8
)
 
(4.8
)
 
(549.8
)
Balance, as of March 31, 2020
 
$
145.7

 
$
1,096.2

 
$
39.9

 
$
1,281.8
Total reserves included in consolidated balance sheets
The total reserves above, which are included in our condensed consolidated balance sheets, are summarized as follows:
(In millions)
 
As of
March 31,
2020
 
As of
December 31,
2019
Reduction of accounts receivable, net
 
$
235.4

 
$
197.8

Component of accrued expenses and other
 
1,046.4

 
1,001.1

Total revenue-related reserves
 
$
1,281.8

 
$
1,198.9
Revenues from anti-CD20 therapeutic programs
Revenues from anti-CD20 therapeutic programs are summarized below. For the purposes of this footnote we refer to RITUXAN and RITUXAN HYCELA collectively as RITUXAN.
 
 
For the Three Months
Ended March 31,
(In millions)
 
2020
 
2019
Biogen’s share of pre-tax profits in the U.S. for RITUXAN and GAZYVA
 
$
341.3

 
$
390.8

Other revenues from anti-CD20 therapeutic programs
 
179.1

 
126.6

Total revenues from anti-CD20 therapeutic programs
 
$
520.4

 
$
517.4
Other revenues
Other revenues are summarized as follows:
 
 
For the Three Months
Ended March 31,
(In millions)
 
2020
 
2019
Revenues from collaborative and other relationships:
 
 
 
 
Revenues earned under our technical development agreement, manufacturing services agreements and royalty revenues on biosimilar products with Samsung Bioepis
 
$
3.7

 
$
24.8

Profit (loss) earned under our 50% share of the co-promotion losses on ZINBRYTA in the U.S. with AbbVie Inc.
 
0.2

 
(0.4
)
Other royalty and corporate revenues:
 
 
 
 
Royalty
 
11.4

 
3.9

Other corporate
 
94.0

 
264.1

Total other revenues
 
$
109.3

 
$
292.4