Revenues (Tables)

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue by product is summarized as follows:


	For the Three Months Ended March 31,
	2023						2022
(In millions)	United States		Rest of World		Total		United States		Rest of World		Total
Multiple Sclerosis (MS):
TECFIDERA	$	74.7	$	199.8	$	274.5	$	117.1	$	292.8	$	409.9
VUMERITY	93.5		14.7		108.2		125.2		2.8		128.0
Total Fumarate	168.2		214.5		382.7		242.3		295.6		537.9
AVONEX	102.6		69.8		172.4		148.0		81.6		229.6
PLEGRIDY	29.9		43.3		73.2		34.3		45.7		80.0
Total Interferon	132.5		113.1		245.6		182.3		127.3		309.6
TYSABRI	245.4		227.4		472.8		284.5		236.3		520.8
FAMPYRA	—		24.1		24.1		—		26.2		26.2
Subtotal: MS	546.1		579.1		1,125.2		709.1		685.4		1,394.5

Spinal Muscular Atrophy:
SPINRAZA	146.7		296.6		443.3		163.3		309.2		472.5

Biosimilars:
BENEPALI	—		109.0		109.0		—		114.7		114.7
IMRALDI	—		54.4		54.4		—		57.1		57.1
FLIXABI	—		20.4		20.4		—		22.5		22.5
BYOOVIZ	8.2		0.4		8.6		—		—		—
Subtotal: Biosimilars	8.2		184.2		192.4		—		194.3		194.3




Other(1)	0.4		2.0		2.4		2.8		2.2		5.0
Total product revenue	$	701.4	$	1,061.9	$	1,763.3	$	875.2	$	1,191.1	$	2,066.3

(1) Other includes FUMADERM and ADUHELM.

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, 2022	$	153.8	$	857.7	$	23.5	$	1,035.0
Current provisions relating to sales in current year	182.3		638.0		3.5		823.8
Adjustments relating to prior years	(1.1)		(8.1)		1.0		(8.2)
Payments/credits relating to sales in current year	(94.0)		(261.8)		(1.0)		(356.8)
Payments/credits relating to sales in prior years	(73.3)		(368.1)		(7.4)		(448.8)
Balance, March 31, 2023	$	167.7	$	857.7	$	19.6	$	1,045.0

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, 2023		As of December 31, 2022
Reduction of accounts receivable	$	137.8	$	143.4
Component of accrued expense and other	907.2		891.6
Total revenue-related reserves	$	1,045.0	$	1,035.0

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)	2023		2022
Royalty revenue on sales of OCREVUS	$	283.6	$	252.3
Biogen’s share of pre-tax profits in the U.S. for RITUXAN, GAZYVA and LUNSUMIO	112.5		143.2
Other revenue from anti-CD20 therapeutic programs	3.4		3.9
Total revenue from anti-CD20 therapeutic programs	$	399.5	$	399.4

Other revenues


	For the Three Months Ended March 31,
(In millions)	2023		2022
Contract manufacturing revenue	$	306.9	$	47.5
Royalty and other revenue	12.2		18.6
Total contract manufacturing, royalty and other revenue	$	319.1	$	66.1