XML 42 R10.htm IDEA: XBRL DOCUMENT v3.22.1
Revenues
 3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenues
Product Revenue
Revenue by product is summarized as follows:
 For the Three Months Ended March 31,
20222021
(In millions)United
States		Rest of
World		TotalUnited
States		Rest of
World		Total
Multiple Sclerosis (MS):
Fumarate(1)
$242.3 $295.6 $537.9 $236.0 $316.9 $552.9 
Interferon(2)
182.3 127.3 309.6 241.8 158.7 400.5 
TYSABRI284.5 236.3 520.8 273.3 230.0 503.3 
FAMPYRA— 26.2 26.2 — 26.6 26.6 
Subtotal: MS709.1 685.4 1,394.5 751.1 732.2 1,483.3 
Spinal Muscular Atrophy:
SPINRAZA163.3 309.2 472.5 148.7 371.8 520.5 
Alzheimer's disease:
ADUHELM(3)
2.8 — 2.8 — — — 
Biosimilars:
BENEPALI— 114.7 114.7 — 121.7 121.7 
IMRALDI— 57.1 57.1 — 57.9 57.9 
FLIXABI— 22.5 22.5 — 25.5 25.5 
Subtotal: Biosimilars— 194.3 194.3 — 205.1 205.1 
Other:
FUMADERM— 2.2 2.2 — 2.8 2.8 
Total product revenue$875.2 $1,191.1 $2,066.3 $899.8 $1,311.9 $2,211.7 
(1) Fumarate includes TECFIDERA and VUMERITY. VUMERITY became commercially available in the E.U. during the fourth quarter of 2021.
(2) Interferon includes AVONEX and PLEGRIDY.
(3) In June 2021 the U.S. Food and Drug Administration (FDA) granted accelerated approval of ADUHELM, which became commercially available in the U.S. during the second quarter of 2021. For additional information, please read Note 16, Collaborative and Other Relationships - Eisai Co., Ltd. - ADUHELM Collaboration Agreement, to these condensed consolidated financial statements.
We recognized revenue from two wholesalers accounting for 26.3% and 10.5% of gross product revenue for the three months ended March 31, 2022, and 30.0% and 9.3% of gross product revenue for the three months ended March 31, 2021.
An analysis of the change in reserves for discounts and allowances is summarized as follows:
(In millions)DiscountsContractual
Adjustments		ReturnsTotal
Balance, December 31, 2021$137.7 $759.6 $38.0 $935.3 
Current provisions relating to sales in current year169.0 659.5 4.0 832.5 
Adjustments relating to prior years(3.9)(40.2)(2.5)(46.6)
Payments/credits relating to sales in current year(101.2)(271.6)(0.5)(373.3)
Payments/credits relating to sales in prior years(58.9)(314.5)(6.5)(379.9)
Balance, March 31, 2022$142.7 $792.8 $32.5 $968.0 
The total reserves above, which are included in our condensed consolidated balance sheets, are summarized as follows:
(In millions)As of March 31, 2022As of December 31, 2021
Reduction of accounts receivable$136.9 $133.2 
Component of accrued expense and other831.1 802.1 
Total revenue-related reserves$968.0 $935.3 
Revenue from Anti-CD20 Therapeutic Programs
Revenue from anti-CD20 therapeutic programs is summarized in the table 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)20222021
Biogen’s share of pre-tax profits in the U.S. for RITUXAN and GAZYVA$143.2 $174.1 
OCREVUS and other revenue from anti-CD20 therapeutic programs256.2 214.9 
Total revenue from anti-CD20 therapeutic programs$399.4 $389.0 
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 2021 Form 10-K.
Other Revenue
Other revenue is summarized as follows:
 For the Three Months Ended March 31,
(In millions)20222021
Revenue from collaborative and other relationships:
Revenue earned under our technical development agreement, manufacturing services agreements and royalty revenue on biosimilar products with Samsung Bioepis$8.0 $3.9 
Other royalty and corporate revenue:
Royalty10.6 6.2 
Other corporate47.5 83.2 
Total other revenue$66.1 $93.3 
We receive royalties from net sales on products related to patents that we have out-licensed and we record other corporate revenue primarily from amounts earned under contract manufacturing agreements.