XML 21 R9.htm IDEA: XBRL DOCUMENT
v3.22.4

Product Sales | 12 Months Ended
--- | ---
Dec. 31, 2022
Revenue from Contract with Customer [Abstract] |
Product Sales | Product Sales Net product sales consist of the following:
|  |  | Year Ended December 31,
(In millions) |  |  | 2022 |  | 2021 |  | 2020
EYLEA® | U.S. |  | $ | 6,264.6 |  |  | $ | 5,792.3 |  |  | $ | 4,947.2 |
Libtayo®(a) | U.S. |  | 374.5 |  |  | 306.3 |  |  | 270.7 |
| ROW(b) |  | 73.0 |  |  | — |  |  | —
Praluent®(c) | U.S. |  | 130.0 |  |  | 170.0 |  |  | 150.9
REGEN-COV®(d) | U.S. |  | — |  |  | 5,828.0 |  |  | 185.7 |
Evkeeza® | U.S. |  | 48.6 |  |  | 18.4 |  |  | — |
Inmazeb® | U.S. |  | 3.0 |  |  | — |  |  | — |
ARCALYST®(e) | U.S. |  | — |  |  | 2.2 |  |  | 13.1 |
|  |  | $ | 6,893.7 |  |  | $ | 12,117.2 |  |  | $ | 5,567.6 |
(a) Prior to July 1, 2022, Regeneron recorded net product sales of Libtayo in the United States and Sanofi recorded net product sales of Libtayo outside the United States. Effective July 1, 2022, the Company records global net product sales of Libtayo. See Note 3 for further details.
(b) Rest of world ("ROW")
(c) Effective April 1, 2020, the Company became solely responsible for the development and commercialization of Praluent in the United States and records net product sales of Praluent in the United States. Previously, Sanofi recorded net product sales of Praluent in the United States. See Note 3 for further details.
(d) Net product sales of REGEN-COV in the United States relate to product sold in connection with the Company's agreements with the U.S. government. See Note 3 for further details.
(e) Effective April 1, 2021, Kiniksa records net product sales of ARCALYST in the United States. Previously, the Company recorded net product sales of ARCALYST in the United States.
As of December 31, 2022 and 2021, the Company had $3.586 billion and $5.059 billion, respectively, of trade accounts receivable that were recorded within Accounts receivable, net. The Company had product sales to certain customers that accounted for more than 10% of total gross product revenue for each of the years ended December 31, 2022, 2021, and 2020. Sales to each of these customers as a percentage of the Company's total gross product revenue are as follows:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Besse Medical, a subsidiary of AmerisourceBergen Corporation | 55 | % |  | 30 | % |  | 51 | %
McKesson Corporation | 28 | % |  | 18 | % |  | 32 | %
U.S. government | * |  | 43 | % |  | *
* Sales to the U.S. government represented less than 10% of total gross product revenue during the period
Revenue from product sales is recorded net of applicable provisions for rebates, chargebacks, and discounts, distribution-related fees, and other sales-related deductions. Accruals for chargebacks and discounts are recorded as a direct reduction to accounts receivable. Accruals for rebates, distribution-related fees, and other sales-related deductions are recorded within accrued liabilities. The following table summarizes the provisions, and credits/payments, for sales-related deductions.
(In millions) | Rebates, Chargebacks, and Discounts |  | Distribution- Related Fees |  | Other Sales- Related Deductions |  | Total
Balance as of December 31, 2019 | $ | 80.3 |  |  | $ | 46.4 |  |  | $ | 29.4 |  |  | $ | 156.1 |
Provisions | 762.9 |  |  | 279.9 |  |  | 94.1 |  |  | 1,136.9 |
Credits/payments | (641.0) |  |  | (249.1) |  |  | (78.7) |  |  | (968.8) |
Balance as of December 31, 2020 | 202.2 |  |  | 77.2 |  |  | 44.8 |  |  | 324.2 |
Provisions | 1,047.1 |  |  | 363.6 |  |  | 150.4 |  |  | 1,561.1 |
Credits/payments | (1,034.7) |  |  | (360.8) |  |  | (127.6) |  |  | (1,523.1) |
Balance as of December 31, 2021 | 214.6 |  |  | 80.0 |  |  | 67.6 |  |  | 362.2 |
Provisions | 1,537.3 |  |  | 431.1 |  |  | 141.1 |  |  | 2,109.5 |
Credits/payments | (1,398.0) |  |  | (399.7) |  |  | (127.2) |  |  | (1,924.9) |
Balance as of December 31, 2022 | $ | 353.9 |  |  | $ | 111.4 |  |  | $ | 81.5 |  |  | $ | 546.8 |

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration