XML 60 R34.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Revenues (Tables)
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenues by product
Revenue by product is summarized as follows:
 For the Three Months Ended June 30,
20242023
(In millions)United
States		Rest of
World		TotalUnited
States		Rest of
World		Total
Multiple Sclerosis:
TECFIDERA$44.1 $208.1 $252.2 $66.5 $187.7 $254.2 
VUMERITY144.2 21.6 165.8 130.3 15.9 146.2 
Total Fumarate188.3 229.7 418.0 196.8 203.6 400.4 
AVONEX117.2 65.6 182.8 145.9 74.4 220.3 
PLEGRIDY28.2 39.9 68.1 34.1 48.0 82.1 
Total Interferon145.4 105.5 250.9 180.0 122.4 302.4 
TYSABRI248.7 213.5 462.2 259.9 223.2 483.1 
FAMPYRA— 18.7 18.7 — 23.4 23.4 
Subtotal: Multiple Sclerosis582.4 567.4 1,149.8 636.7 572.6 1,209.3 
Rare Disease:
SPINRAZA157.3 271.8 429.1 155.8 281.3 437.1 
SKYCLARYS(1)
75.6 24.4 100.0 — — — 
QALSODY(2)
4.6 0.4 5.0 0.9 — 0.9 
Subtotal: Rare Disease237.5 296.6 534.1 156.7 281.3 438.0 
Biosimilars:
BENEPALI— 117.3 117.3 — 109.2 109.2 
IMRALDI— 53.2 53.2 — 58.8 58.8 
FLIXABI— 13.1 13.1 — 20.1 20.1 
BYOOVIZ(3)
10.3 3.4 13.7 7.0 — 7.0 
TOFIDENCE(4)
0.8 — 0.8 — — — 
Subtotal: Biosimilars11.1 187.0 198.1 7.0 188.1 195.1 
Other:
ZURZUVAE(5)
14.9 — 14.9 — — — 
Other(6)
0.8 1.9 2.7 0.6 2.8 3.4 
Subtotal: Other15.7 1.9 17.6 0.6 2.8 3.4 
Total product revenue, net$846.7 $1,052.9 $1,899.6 $801.0 $1,044.8 $1,845.8 
(1) 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.
(2) QALSODY became commercially available in the U.S. during the second quarter of 2023 and commercially available in the E.U. during the second quarter of 2024.
(3) BYOOVIZ became commercially available in certain international markets in 2023.
(4) TOFIDENCE became commercially available in the U.S. during the second quarter of 2024.
(5) ZURZUVAE became commercially available in the U.S. during the fourth quarter of 2023.
(6) Other includes FUMADERM and ADUHELM.
 For the Six Months Ended June 30,
20242023
(In millions)United
States		Rest of
World		TotalUnited
States		Rest of
World		Total
Multiple Sclerosis:
TECFIDERA$87.8 $418.7 $506.5 $141.2 $387.5 $528.7 
VUMERITY250.1 43.2 293.3 223.8 30.6 254.4 
Total Fumarate337.9 461.9 799.8 365.0 418.1 783.1 
AVONEX228.4 132.9 361.3 248.5 144.2 392.7 
PLEGRIDY56.8 76.4 133.2 64.0 91.3 155.3 
Total Interferon285.2 209.3 494.5 312.5 235.5 548.0 
TYSABRI462.5 431.0 893.5 505.3 450.6 955.9 
FAMPYRA— 37.9 37.9 — 47.5 47.5 
Subtotal: Multiple Sclerosis1,085.6 1,140.1 2,225.7 1,182.8 1,151.7 2,334.5 
Rare Disease:
SPINRAZA305.8 464.6 770.4 302.5 577.9 880.4 
SKYCLARYS(1)
148.6 29.4 178.0 — — — 
QALSODY(2)
9.0 0.6 9.6 0.9 — 0.9 
Subtotal: Rare Disease463.4 494.6 958.0 303.4 577.9 881.3 
Biosimilars:
BENEPALI— 236.0 236.0 — 218.2 218.2 
IMRALDI— 108.0 108.0 — 113.2 113.2 
FLIXABI— 30.9 30.9 — 40.5 40.5 
BYOOVIZ(3)
14.0 5.3 19.3 15.2 0.4 15.6 
TOFIDENCE(4)
0.8 — 0.8 — — — 
Subtotal: Biosimilars14.8 380.2 395.0 15.2 372.3 387.5 
Other:
ZURZUVAE(5)
27.3 — 27.3 — — — 
Other(6)
1.7 3.8 5.5 1.0 4.8 5.8 
Subtotal: Other29.0 3.8 32.8 1.0 4.8 5.8 
Total product revenue, net$1,592.8 $2,018.7 $3,611.5 $1,502.4 $2,106.7 $3,609.1 
(1) 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.
(2) QALSODY became commercially available in the U.S. during the second quarter of 2023 and commercially available in the E.U. during the second quarter of 2024.
(3) BYOOVIZ became commercially available in certain international markets in 2023.
(4) TOFIDENCE became commercially available in the U.S. during the second quarter of 2024.
(5) ZURZUVAE became commercially available in the U.S. during the fourth quarter of 2023.
(6) 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)DiscountsContractual
Adjustments		ReturnsTotal
Balance, December 31, 2023$173.3 $857.1 $31.6 $1,062.0 
Current provisions relating to sales in current year399.3 1,355.2 10.6 1,765.1 
Adjustments relating to prior years5.6 (27.3)12.7 (9.0)
Payments/credits relating to sales in current year(260.1)(797.8)(0.3)(1,058.2)
Payments/credits relating to sales in prior years(155.8)(477.0)(11.1)(643.9)
Balance, June 30, 2024$162.3 $910.2 $43.5 $1,116.0 
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 June 30, 2024As of December 31, 2023
Reduction of accounts receivable$151.5 $135.5 
Component of accrued expense and other964.5 926.5 
Total revenue-related reserves$1,116.0 $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 June 30,For the Six Months Ended June 30,
(In millions)2024202320242023
Royalty revenue on sales of OCREVUS$336.3 $325.5 $639.0 $609.1 
Biogen’s share of pre-tax profits in the U.S. for RITUXAN, GAZYVA and LUNSUMIO103.4 103.6 190.5 216.1 
Other revenue from anti-CD20 therapeutic programs4.8 4.3 9.0 7.7 
Total revenue from anti-CD20 therapeutic programs$444.5 $433.4 $838.5 $832.9 
Other revenues
Contract manufacturing, royalty and other revenue is summarized in the table below.
 For the Three Months Ended June 30,For the Six Months Ended June 30,
(In millions)2024202320242023
Contract manufacturing revenue$100.0 $183.1 $252.2 $490.0 
Royalty and other revenue
20.8 (6.3)53.2 (13.0)
Total contract manufacturing, royalty and other revenue$120.8 $176.8 $305.4 $477.0