XML 54 R35.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Revenues (Tables)
3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenues by product
Revenue by product is summarized as follows:
 For the Three Months Ended March 31,
20242023
(In millions)United
States
Rest of
World
TotalUnited
States
Rest of
World
Total
Multiple Sclerosis:
TECFIDERA$43.7 $210.6 $254.3 $74.7 $199.8 $274.5 
VUMERITY105.9 21.6 127.5 93.5 14.7 108.2 
Total Fumarate149.6 232.2 381.8 168.2 214.5 382.7 
AVONEX111.2 67.3 178.5 102.6 69.8 172.4 
PLEGRIDY28.6 36.5 65.1 29.9 43.3 73.2 
Total Interferon139.8 103.8 243.6 132.5 113.1 245.6 
TYSABRI213.8 217.5 431.3 245.4 227.4 472.8 
FAMPYRA— 19.2 19.2 — 24.1 24.1 
Subtotal: Multiple Sclerosis503.2 572.7 1,075.9 546.1 579.1 1,125.2 
Rare Disease:
SPINRAZA148.5 192.8 341.3 146.7 296.6 443.3 
QALSODY(1)
4.4 0.2 4.6 — — — 
SKYCLARYS(2)
73.0 5.0 78.0 — — — 
Subtotal: Rare Disease225.9 198.0 423.9 146.7 296.6 443.3 
Biosimilars:
BENEPALI— 118.7 118.7 — 109.0 109.0 
IMRALDI— 54.8 54.8 — 54.4 54.4 
FLIXABI— 17.8 17.8 — 20.4 20.4 
BYOOVIZ(3)
3.7 1.9 5.6 8.2 0.4 8.6 
Subtotal: Biosimilars3.7 193.2 196.9 8.2 184.2 192.4 
Other(4)
13.3 1.9 15.2 0.4 2.0 2.4 
Total product revenue$746.1 $965.8 $1,711.9 $701.4 $1,061.9 $1,763.3 
(1) QALSODY became commercially available in the U.S. during the second quarter of 2023.
(2) SKYCLARYS was obtained as part of our acquisition of Reata in September 2023. SKYCLARYS became commercially available in the U.S. during the second quarter of 2023 and we began recognizing revenue from SKYCLARYS in the U.S. during the fourth quarter of 2023, subsequent to our acquisition. SKYCLARYS was approved and became commercially available in the E.U. during the first quarter of 2024.
(3) BYOOVIZ became commercially available in certain international markets in 2023.
(4) Other includes FUMADERM, ADUHELM and ZURZUVAE, which became commercially available in the U.S. during the fourth 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)DiscountsContractual
Adjustments
ReturnsTotal
Balance, December 31, 2023$173.3 $857.1 $31.6 $1,062.0 
Current provisions relating to sales in current year181.5 682.6 5.0 869.1 
Adjustments relating to prior years6.1 (16.9)5.6 (5.2)
Payments/credits relating to sales in current year(109.1)(262.1)(0.2)(371.4)
Payments/credits relating to sales in prior years(94.2)(358.0)(5.6)(457.8)
Balance, March 31, 2024$157.6 $902.7 $36.4 $1,096.7 
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, 2024As of December 31, 2023
Reduction of accounts receivable$139.7 $135.5 
Component of accrued expense and other957.0 926.5 
Total revenue-related reserves$1,096.7 $1,062.0 
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)20242023
Royalty revenue on sales of OCREVUS$302.7 $283.6 
Biogen’s share of pre-tax profits in the U.S. for RITUXAN, GAZYVA and LUNSUMIO87.1 112.5 
Other revenue from anti-CD20 therapeutic programs4.2 3.4 
Total revenue from anti-CD20 therapeutic programs$394.0 $399.5 
Other revenues
Contract manufacturing, royalty and other revenue is summarized in the table below.
 For the Three Months Ended March 31,
(In millions)20242023
Contract manufacturing revenue$152.2 $306.9 
Royalty and other revenue
32.4 (6.7)
Total contract manufacturing, royalty and other revenue$184.6 $300.2