Revenues (Tables)

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenues by product

Revenues by product are summarized as follows:

	For the Three Months Ended September 30,
	2020						2019
(In millions)	United States		Rest of World		Total		United 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
TYSABRI	304.2		212.3		516.5		263.0		220.6		483.6
FAMPYRA	—		26.8		26.8		—		24.2		24.2
Subtotal: MS product revenues	1,315.7		669.2		1,984.9		1,465.3		694.9		2,160.2
Spinal Muscular Atrophy:
SPINRAZA	182.5		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,
	2020						2019
(In millions)	United States		Rest of World		Total		United 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
TYSABRI	826.0		644.9		1,470.9		772.3		647.0		1,419.3
FAMPYRA	—		78.1		78.1		—		71.2		71.2
Subtotal: MS product revenues	4,174.9		2,054.2		6,229.1		4,269.1		2,078.1		6,347.2
Spinal Muscular Atrophy:
SPINRAZA	628.2		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.

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, December 31, 2019	$	131.1	$	1,027.3	$	40.5	$	1,198.9
Current provisions relating to sales in current year	589.6		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

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 September 30, 2020		As of December 31, 2019
Reduction of accounts receivable, net	$	227.9	$	197.8
Component of accrued expenses and other	1,043.9		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)	2020		2019		2020		2019
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 programs	285.1		202.6		685.0		528.4
Total revenues from anti-CD20 therapeutic programs	$	560.1	$	595.8	$	1,558.8	$	1,689.6

Other revenues

Other revenues are summarized as follows:

	For the Three Months Ended September 30,				For the Nine Months Ended September 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.	$	—	$	0.3	$	0.7	$	(0.2)
Revenues earned under our technical development agreement, manufacturing services agreements and royalty revenues on biosimilar products with Samsung Bioepis	5.4		12.9		13.6		89.9
Other royalty and corporate revenues:
Royalty	10.3		3.3		28.8		9.9
Other corporate	110.0		93.1		599.5		462.4
Total other revenues	$	125.7	$	109.6	$	642.6	$	562.0