Revenues (Tables)

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue by product is summarized as follows:


	For the Three Months Ended March 31,
	2022						2021
(In millions)	United States		Rest of World		Total		United 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
TYSABRI	284.5		236.3		520.8		273.3		230.0		503.3
FAMPYRA	—		26.2		26.2		—		26.6		26.6
Subtotal: MS	709.1		685.4		1,394.5		751.1		732.2		1,483.3

Spinal Muscular Atrophy:
SPINRAZA	163.3		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.

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, 2021	$	137.7	$	759.6	$	38.0	$	935.3
Current provisions relating to sales in current year	169.0		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

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, 2022		As of December 31, 2021
Reduction of accounts receivable	$	136.9	$	133.2
Component of accrued expense and other	831.1		802.1
Total revenue-related reserves	$	968.0	$	935.3

Revenues 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)	2022		2021
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 programs	256.2		214.9
Total revenue from anti-CD20 therapeutic programs	$	399.4	$	389.0

Other revenues

Other revenue is summarized as follows:


	For the Three Months Ended March 31,
(In millions)	2022		2021
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:
Royalty	10.6		6.2
Other corporate	47.5		83.2
Total other revenue	$	66.1	$	93.3