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Revenues (Tables)
 6 Months Ended
Jun. 30, 2020
Revenue from Contract with Customer [Abstract]  
Revenues by product
Revenues by product are summarized as follows:
 
 
For the Three Months
Ended June 30,
(In millions)
 
2020
 
2019
 
 
United
States
 
Rest of
World
 
Total
 
United
States
 
Rest of
World
 
Total
Multiple Sclerosis (MS):
 
 
 
 
 
 
 
 
 
 
 
 
Fumarate*
 
$
921.7

 
$
268.6

 
$
1,190.3

 
$
869.8

 
$
280.4

 
$
1,150.2

Interferon**
 
345.6

 
135.8

 
481.4

 
379.7

 
174.7

 
554.4

TYSABRI
 
244.1

 
187.9

 
432.0

 
264.3

 
211.0

 
475.3

FAMPYRA
 
—

 
23.0

 
23.0

 
—

 
24.1

 
24.1

Subtotal: MS product revenues
 
1,511.4

 
615.3

 
2,126.7

 
1,513.8

 
690.2

 
2,204.0

 
 
 
 
 
 
 
 
 
 
 
 
 
Spinal Muscular Atrophy:
 
 
 
 
 

 
 
 
 
 

SPINRAZA
 
210.3

 
284.3

 
494.6

 
230.6

 
257.6

 
488.2

 
 
 
 
 
 
 
 
 
 
 
 
 
Biosimilars:
 
 
 
 
 

 
 
 
 
 

BENEPALI
 
—

 
106.2

 
106.2

 
—

 
120.3

 
120.3

IMRALDI
 
—

 
44.8

 
44.8

 
—

 
47.3

 
47.3

FLIXABI
 
—

 
20.6

 
20.6

 
—

 
16.8

 
16.8

Subtotal: Biosimilar product revenues
 
—

 
171.6

 
171.6

 
—

 
184.4

 
184.4

 
 
 
 
 
 
 
 
 
 
 
 
 
Other:
 
 
 
 
 
 
 
 
 
 
 
 
FUMADERM
 
—

 
2.8

 
2.8

 
—

 
3.7

 
3.7

Total product revenues
 
$
1,721.7

 
$
1,074.0

 
$
2,795.7

 
$
1,744.4

 
$
1,135.9

 
$
2,880.3

 
 
 

*Fumarate includes TECFIDERA and VUMERITY. VUMERITY became commercially available in the U.S. in November 2019.
**Interferon includes AVONEX and PLEGRIDY.
 
 
For the Six Months
Ended June 30,
(In millions)
 
2020
 
2019
 
 
United
States
 
Rest of
World
 
Total
 
United
States
 
Rest of
World
 
Total
Multiple Sclerosis (MS):
 
 
 
 
 
 
 
 
 
 
 
 
Fumarate*
 
$
1,699.2

 
$
591.9

 
$
2,291.1

 
$
1,587.5

 
$
561.5

 
$
2,149.0

Interferon**
 
638.2

 
309.2

 
947.4

 
707.0

 
348.3

 
1,055.3

TYSABRI
 
521.8

 
432.6

 
954.4

 
509.3

 
426.4

 
935.7

FAMPYRA
 
—

 
51.3

 
51.3

 
—

 
47.0

 
47.0

Subtotal: MS product revenues
 
2,859.2


1,385.0


4,244.2


2,803.8


1,383.2


4,187.0

 
 
 
 
 
 
 
 
 
 
 
 
 
Spinal Muscular Atrophy:
 
 
 
 
 
 
 
 
 
 
 
 
SPINRAZA
 
445.7

 
613.9

 
1,059.6

 
453.9

 
552.8

 
1,006.7

 
 
 
 
 
 
 
 
 
 
 
 
 
Biosimilars:
 
 
 
 
 
 
 
 
 
 
 
 
BENEPALI
 
—

 
239.7

 
239.7

 
—

 
244.3

 
244.3

IMRALDI
 
—

 
106.4

 
106.4

 
—

 
83.0

 
83.0

FLIXABI
 
—

 
44.3

 
44.3

 
—

 
31.5

 
31.5

Subtotal: Biosimilar product revenues
 
—


390.4


390.4


—


358.8


358.8

 
 
 
 
 
 
 
 
 
 
 
 
 
Other:
 
 
 
 
 
 
 
 
 
 
 
 
FUMADERM
 
—

 
6.1

 
6.1

 
—

 
7.8

 
7.8

Total product revenues
 
$
3,304.9


$
2,395.4


$
5,700.3


$
3,257.7


$
2,302.6


$
5,560.3

 
 
 
*Fumarate includes TECFIDERA and VUMERITY. VUMERITY became commercially 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
 
387.5

 
1,624.2

 
9.9

 
2,021.6

Adjustments relating to prior years
 
(1.3
)
 
(25.7
)
 
0.7

 
(26.3
)
Payments/credits relating to sales in current year
 
(251.4
)
 
(1,018.7
)
 
—

 
(1,270.1
)
Payments/credits relating to sales in prior years
 
(126.5
)
 
(612.9
)
 
(10.0
)
 
(749.4
)
Balance, as of June 30, 2020
 
$
139.4

 
$
994.2

 
$
41.1

 
$
1,174.7
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
June 30,
2020
 
As of
December 31,
2019
Reduction of accounts receivable, net
 
$
223.4

 
$
197.8

Component of accrued expenses and other
 
951.3

 
1,001.1

Total revenue-related reserves
 
$
1,174.7

 
$
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 June 30,
 
For the Six Months
Ended June 30,
(In millions)
 
2020
 
2019
 
2020
 
2019
Biogen’s share of pre-tax profits in the U.S. for RITUXAN and GAZYVA
 
$
257.5

 
$
377.2

 
$
598.8

 
$
768.0

Other revenues from anti-CD20 therapeutic programs
 
220.8

 
199.2

 
399.9

 
325.8

Total revenues from anti-CD20 therapeutic programs
 
$
478.3

 
$
576.4

 
$
998.7

 
$
1,093.8
Other revenues
Other revenues are summarized as follows:
 
 
For the Three Months
Ended June 30,
 
For the Six Months
Ended June 30,
(In millions)
 
2020
 
2019
 
2020
 
2019
Revenues from collaborative and other relationships:
 
 
 
 
 
 
 
 
Profit (loss) earned under our 50% share of the co-promotion losses on ZINBRYTA in the U.S. with AbbVie Inc.
 
$
0.5

 
$
(0.1
)
 
$
0.7

 
$
(0.5
)
Revenues earned under our technical development agreement, manufacturing services agreements and royalty revenues on biosimilar products with Samsung Bioepis
 
4.5

 
52.2

 
8.2

 
77.0

Other royalty and corporate revenues:
 
 
 
 
 
 
 
 
Royalty
 
7.1

 
2.7

 
18.5

 
6.6

Other corporate
 
395.5

 
105.2

 
489.5

 
369.3

Total other revenues
 
$
407.6

 
$
160.0

 
$
516.9

 
$
452.4