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Revenues
9 Months Ended
Sep. 30, 2020
Revenue from Contract with Customer [Abstract]  
Revenues
Product Revenues
Revenues by product are summarized as follows:
 For the Three Months Ended September 30,
20202019
(In millions)United
States
Rest of
World
TotalUnited
States
Rest of
World
Total
Multiple Sclerosis (MS):
Fumarate*$684.2 $283.3 $967.5 $842.0 $280.4 $1,122.4 
Interferon**327.3 146.8 474.1 360.3 169.7 530.0 
TYSABRI304.2 212.3 516.5 263.0 220.6 483.6 
FAMPYRA— 26.8 26.8 — 24.2 24.2 
Subtotal: MS product revenues1,315.7 669.2 1,984.9 1,465.3 694.9 2,160.2 
Spinal Muscular Atrophy:
SPINRAZA182.5 311.9 494.4 236.7 310.4 547.1 
Biosimilars:
BENEPALI— 124.2 124.2 — 115.9 115.9 
IMRALDI— 56.2 56.2 — 49.3 49.3 
FLIXABI— 27.5 27.5 — 18.4 18.4 
Subtotal: Biosimilar product revenues— 207.9 207.9 — 183.6 183.6 
Other:
FUMADERM— 3.1 3.1 — 3.8 3.8 
Total product revenues$1,498.2 $1,192.1 $2,690.3 $1,702.0 $1,192.7 $2,894.7 
*Fumarate includes TECFIDERA and VUMERITY. VUMERITY became commercially available in the U.S. in November 2019.
**Interferon includes AVONEX and PLEGRIDY.
 For the Nine Months Ended September 30,
20202019
(In millions)United
States
Rest of
World
TotalUnited
States
Rest of
World
Total
Multiple Sclerosis (MS):
Fumarate*$2,383.4 $875.2 $3,258.6 $2,429.5 $841.9 $3,271.4 
Interferon**965.5 456.0 1,421.5 1,067.3 518.0 1,585.3 
TYSABRI826.0 644.9 1,470.9 772.3 647.0 1,419.3 
FAMPYRA— 78.1 78.1 — 71.2 71.2 
Subtotal: MS product revenues4,174.9 2,054.2 6,229.1 4,269.1 2,078.1 6,347.2 
Spinal Muscular Atrophy:
SPINRAZA628.2 925.8 1,554.0 690.6 863.2 1,553.8 
Biosimilars:
BENEPALI— 363.9 363.9 — 360.2 360.2 
IMRALDI— 162.6 162.6 — 132.3 132.3 
FLIXABI— 71.8 71.8 — 49.9 49.9 
Subtotal: Biosimilar product revenues— 598.3 598.3 — 542.4 542.4 
Other:
FUMADERM— 9.2 9.2 — 11.6 11.6 
Total product revenues$4,803.1 $3,587.5 $8,390.6 $4,959.7 $3,495.3 $8,455.0 
*Fumarate includes TECFIDERA and VUMERITY. VUMERITY became commercially available in the U.S. in November 2019.
**Interferon includes AVONEX and PLEGRIDY.
We recognized revenues from two wholesalers accounting for 31.2% and 15.6% of gross product revenues for the three months ended September 30, 2020, and 30.9% and 16.0% of gross product revenues for the nine months ended September 30, 2020.
We recognized revenues from two wholesalers accounting for 28.7% and 18.4% of gross product revenues for the three months ended September 30, 2019, and 30.1% and 17.0% of gross product revenues for the nine months ended September 30, 2019.
An analysis of the change in reserves for discounts and allowances is summarized as follows:
(In millions)DiscountsContractual
Adjustments
ReturnsTotal
Balance, December 31, 2019$131.1 $1,027.3 $40.5 $1,198.9 
Current provisions relating to sales in current year589.6 2,465.8 14.8 3,070.2 
Adjustments relating to prior years(1.0)(41.6)1.8 (40.8)
Payments/credits relating to sales in current year(457.9)(1,704.5)— (2,162.4)
Payments/credits relating to sales in prior years(120.3)(658.4)(15.4)(794.1)
Balance, September 30, 2020$141.5 $1,088.6 $41.7 $1,271.8 
The total reserves above, which are included in our condensed consolidated balance sheets, are summarized as follows:
(In millions)As of September 30, 2020As of December 31, 2019
Reduction of accounts receivable, net$227.9 $197.8 
Component of accrued expenses and other1,043.9 1,001.1 
Total revenue-related reserves$1,271.8 $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 September 30,For the Nine Months Ended September 30,
(In millions)2020201920202019
Biogen’s share of pre-tax profits in the U.S. for RITUXAN and GAZYVA$275.0 $393.2 $873.8 $1,161.2 
Other revenues from anti-CD20 therapeutic programs285.1 202.6 685.0 528.4 
Total revenues from anti-CD20 therapeutic programs$560.1 $595.8 $1,558.8 $1,689.6 
For additional information on our collaboration arrangements with Genentech, please read Note 18, Collaborative and Other Relationships, to our consolidated financial statements included in our 2019 Form 10-K.
Other Revenues
Other revenues are summarized as follows:
 For the Three Months Ended September 30,For the Nine Months Ended September 30,
(In millions)2020201920202019
Revenues from collaborative and other relationships:
Profit (loss) earned under our 50% share of the co-promotion losses on ZINBRYTA in the U.S. with AbbVie Inc.$— $0.3 $0.7 $(0.2)
Revenues earned under our technical development agreement, manufacturing services agreements and royalty revenues on biosimilar products with Samsung Bioepis5.4 12.9 13.6 89.9 
Other royalty and corporate revenues:
Royalty10.3 3.3 28.8 9.9 
Other corporate110.0 93.1 599.5 462.4 
Total other revenues$125.7 $109.6 $642.6 $562.0 
During the third quarter of 2019, we amended our agreement with a contract manufacturing customer pursuant to which we licensed certain of our manufacturing-related intellectual property to the customer. In the second quarter of 2020, the customer received regulatory approval for its product that is being manufactured using certain of our manufacturing-related intellectual property. As a result, we are entitled to $500.0 million in a series of three payments. The first payment became due upon regulatory approval of such product and was received during the second quarter of 2020. Subsequent payments are due on the first and second anniversaries of the regulatory approval.
Other corporate revenues for the nine months ended September 30, 2020, reflect $333.2 million related to the delivery of the license for certain of our manufacturing-related intellectual property under the amended agreement discussed above and the performance of manufacturing product supply services for such customer. We have allocated the remaining $166.8 million of the $500.0 million transaction price to the performance of manufacturing product supply services for the customer, which we expect to perform through 2026. The value allocated to the manufacturing services was based on expected demand for supply and the fair value of comparable manufacturing and development services.