Revenues (Tables)

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue by product is summarized as follows:


	For the Three Months Ended September 30,
	2022						2021
(In millions)	United States		Rest of World		Total		United States		Rest of World		Total
Multiple Sclerosis (MS):
TECFIDERA	$	92.5	$	246.5	$	339.0	$	179.2	$	319.4	$	498.6
VUMERITY(1)	127.9		9.9		137.8		120.7		0.2		120.9
Total Fumarate	220.4		256.4		476.8		299.9		319.6		619.5
AVONEX	174.8		80.3		255.1		213.2		88.1		301.3
PLEGRIDY	39.7		41.2		80.9		39.2		47.0		86.2
Total Interferon	214.5		121.5		336.0		252.4		135.1		387.5
TYSABRI	273.0		232.5		505.5		281.1		241.7		522.8
FAMPYRA	—		22.0		22.0		—		26.2		26.2
Subtotal: MS	707.9		632.4		1,340.3		833.4		722.6		1,556.0

Spinal Muscular Atrophy:
SPINRAZA	140.2		290.9		431.1		139.8		304.3		444.1

Biosimilars:
BENEPALI	—		110.2		110.2		—		120.8		120.8
IMRALDI	—		57.7		57.7		—		57.4		57.4
FLIXABI	—		19.0		19.0		—		24.6		24.6
BYOOVIZ(2)	0.7		—		0.7		—		—		—
Subtotal: Biosimilars	0.7		186.9		187.6		—		202.8		202.8

Other:
FUMADERM	—		1.5		1.5		—		2.5		2.5
ADUHELM	1.6		—		1.6		0.3		—		0.3
Total product revenue	$	850.4	$	1,111.7	$	1,962.1	$	973.5	$	1,232.2	$	2,205.7

(1) VUMERITY became commercially available in the European Union (E.U.) during the fourth quarter of 2021.

(2) BYOOVIZ launched in the United States (U.S.) in June 2022 and became commercially available during the third quarter of 2022.


	For the Nine Months Ended September 30,
	2022						2021
(In millions)	United States		Rest of World		Total		United States		Rest of World		Total
Multiple Sclerosis (MS):
TECFIDERA	$	330.3	$	816.5	$	1,146.8	$	520.1	$	945.3	$	1,465.4
VUMERITY(1)	383.0		19.6		402.6		285.0		0.5		285.5
Total Fumarate	713.3		836.1		1,549.4		805.1		945.8		1,750.9
AVONEX	493.8		249.6		743.4		636.4		286.9		923.3
PLEGRIDY	114.2		138.2		252.4		115.2		149.9		265.1
Total Interferon	608.0		387.8		995.8		751.6		436.8		1,188.4
TYSABRI	849.4		693.1		1,542.5		854.2		696.2		1,550.4
FAMPYRA	—		73.7		73.7		—		78.8		78.8
Subtotal: MS	2,170.7		1,990.7		4,161.4		2,410.9		2,157.6		4,568.5

Spinal Muscular Atrophy:
SPINRAZA	443.3		891.4		1,334.7		437.8		1,026.6		1,464.4

Biosimilars:
BENEPALI	—		340.7		340.7		—		363.9		363.9
IMRALDI	—		172.4		172.4		—		170.9		170.9
FLIXABI	—		62.0		62.0		—		75.4		75.4
BYOOVIZ(2)	1.2		—		1.2		—		—		—
Subtotal: Biosimilars	1.2		575.1		576.3		—		610.2		610.2

Other:
FUMADERM	—		6.4		6.4		—		8.3		8.3
ADUHELM	4.5		—		4.5		2.0		—		2.0
Total product revenue	$	2,619.7	$	3,463.6	$	6,083.3	$	2,850.7	$	3,802.7	$	6,653.4

(1) VUMERITY became commercially available in the E.U. during the fourth quarter of 2021.

(2) BYOOVIZ launched in the U.S. in June 2022 and became commercially available during the third quarter of 2022.

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	499.3		1,993.6		8.5		2,501.4
Adjustments relating to prior years	(2.5)		(18.4)		(7.7)		(28.6)
Payments/credits relating to sales in current year	(379.6)		(1,442.0)		—		(1,821.6)
Payments/credits relating to sales in prior years	(124.5)		(463.7)		(14.4)		(602.6)
Balance, September 30, 2022	$	130.4	$	829.1	$	24.4	$	983.9

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, 2022		As of December 31, 2021
Reduction of accounts receivable	$	129.4	$	133.2
Component of accrued expense and other	854.5		802.1
Total revenue-related reserves	$	983.9	$	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 September 30,				For the Nine Months Ended September 30,
(In millions)	2022		2021		2022		2021
Biogen’s share of pre-tax profits in the U.S. for RITUXAN and GAZYVA	$	131.1	$	145.8	$	414.2	$	498.7
OCREVUS and other revenue from anti-CD20 therapeutic programs	285.8		269.6		838.4		745.7
Total revenue from anti-CD20 therapeutic programs	$	416.9	$	415.4	$	1,252.6	$	1,244.4

Other revenues

Other revenue is summarized as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(In millions)	2022		2021		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	$	6.5	$	6.3	$	20.9	$	15.7

Other royalty and corporate revenue:
Royalty	8.8		7.7		29.7		20.3
Other corporate	114.2		143.8		242.9		314.1
Total other revenue	$	129.5	$	157.8	$	293.5	$	350.1