Revenues (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue by product is summarized as follows:


	For the Three Months Ended June 30,
	2023						2022
(In millions)	United States		Rest of World		Total		United States		Rest of World		Total
Multiple Sclerosis:
TECFIDERA	$	66.5	$	187.7	$	254.2	$	120.7	$	277.2	$	397.9
VUMERITY	130.3		15.9		146.2		129.9		6.9		136.8
Total Fumarate	196.8		203.6		400.4		250.6		284.1		534.7
AVONEX	145.9		74.4		220.3		171.0		87.7		258.7
PLEGRIDY	34.1		48.0		82.1		40.2		51.3		91.5
Total Interferon	180.0		122.4		302.4		211.2		139.0		350.2
TYSABRI	259.9		223.2		483.1		291.9		224.3		516.2
FAMPYRA	—		23.4		23.4		—		25.5		25.5
Subtotal: MS	636.7		572.6		1,209.3		753.7		672.9		1,426.6

Spinal Muscular Atrophy:
SPINRAZA	155.8		281.3		437.1		139.8		291.3		431.1
Subtotal: SMA	155.8		281.3		437.1		139.8		291.3		431.1

Biosimilars:
BENEPALI	—		109.2		109.2		—		115.8		115.8
IMRALDI	—		58.8		58.8		—		57.6		57.6
FLIXABI	—		20.1		20.1		—		20.5		20.5
BYOOVIZ(1)	7.0		—		7.0		0.5		—		0.5
Subtotal: Biosimilars	7.0		188.1		195.1		0.5		193.9		194.4





Other(2)	1.5		2.8		4.3		0.1		2.7		2.8
Total product revenue	$	801.0	$	1,044.8	$	1,845.8	$	894.1	$	1,160.8	$	2,054.9

(1) BYOOVIZ became commercially available in the U.S. during the third quarter of 2022 and commercially available in international markets in 2023.

(2) Other includes FUMADERM, ADUHELM and QALSODY, which became commercially available in the U.S. during the second quarter of 2023.


	For the Six Months Ended June 30,
	2023						2022
(In millions)	United States		Rest of World		Total		United States		Rest of World		Total
Multiple Sclerosis:
TECFIDERA	$	141.2	$	387.5	$	528.7	$	237.8	$	570.0	$	807.8
VUMERITY	223.8		30.6		254.4		255.1		9.7		264.8
Total Fumarate	365.0		418.1		783.1		492.9		579.7		1,072.6
AVONEX	248.5		144.2		392.7		319.0		169.3		488.3
PLEGRIDY	64.0		91.3		155.3		74.5		97.0		171.5
Total Interferon	312.5		235.5		548.0		393.5		266.3		659.8
TYSABRI	505.3		450.6		955.9		576.4		460.6		1,037.0
FAMPYRA	—		47.5		47.5		—		51.7		51.7
Subtotal: MS	1,182.8		1,151.7		2,334.5		1,462.8		1,358.3		2,821.1

Spinal Muscular Atrophy:
SPINRAZA	302.5		577.9		880.4		303.1		600.5		903.6
Subtotal: SMA	302.5		577.9		880.4		303.1		600.5		903.6

Biosimilars:
BENEPALI	—		218.2		218.2		—		230.5		230.5
IMRALDI	—		113.2		113.2		—		114.7		114.7
FLIXABI	—		40.5		40.5		—		43.0		43.0
BYOOVIZ(1)	15.2		0.4		15.6		0.5		—		0.5
Subtotal: Biosimilars	15.2		372.3		387.5		0.5		388.2		388.7





Other(2)	1.9		4.8		6.7		2.9		4.9		7.8
Total product revenue	$	1,502.4	$	2,106.7	$	3,609.1	$	1,769.3	$	2,351.9	$	4,121.2

(1) BYOOVIZ became commercially available in the U.S. during the third quarter of 2022 and commercially available in international markets in 2023.

(2) Other includes FUMADERM, ADUHELM and QALSODY, which became commercially available in the U.S. during the second quarter of 2023.

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	381.8		1,324.7		7.8		1,714.3
Adjustments relating to prior years	0.8		(19.6)		6.2		(12.6)
Payments/credits relating to sales in current year	(257.5)		(757.4)		(1.8)		(1,016.7)
Payments/credits relating to sales in prior years	(113.7)		(477.7)		(14.1)		(605.5)
Balance, June 30, 2023	$	165.2	$	927.7	$	21.6	$	1,114.5

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 June 30, 2023		As of December 31, 2022
Reduction of accounts receivable	$	149.8	$	143.4
Component of accrued expense and other	964.7		891.6
Total revenue-related reserves	$	1,114.5	$	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 June 30,				For the Six Months Ended June 30,
(In millions)	2023		2022		2023		2022
Royalty revenue on sales of OCREVUS	$	325.5	$	291.8	$	609.1	$	544.1
Biogen’s share of pre-tax profits in the U.S. for RITUXAN, GAZYVA and LUNSUMIO(1)	103.6		139.9		216.1		283.1
Other revenue from anti-CD20 therapeutic programs	4.3		4.6		7.7		8.5
Total revenue from anti-CD20 therapeutic programs	$	433.4	$	436.3	$	832.9	$	835.7

(1) LUNSUMIO became commercially available in the U.S. during the first quarter of 2023.

Other revenues


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(In millions)	2023		2022		2023		2022
Contract manufacturing revenue	$	183.1	$	81.2	$	490.0	$	128.7
Royalty and other revenue	14.4		16.7		26.6		35.3
Total contract manufacturing, royalty and other revenue	$	197.5	$	97.9	$	516.6	$	164.0