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v3.20.2

Revenues (Tables) | 6 Months Ended
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Jun. 30, 2020
Revenue from Contract with Customer [Abstract] |
Revenues by product | Revenues by product are summarized as follows:
|  | For the Three Months Ended June 30,
(In millions) |  | 2020 |  | 2019
|  | United States |  | Rest of World |  | Total |  | United States |  | Rest of World |  | Total
Multiple Sclerosis (MS): |  |  |  |  |  |  |  |  |  |  |  |
Fumarate* |  | $ | 921.7 |  |  | $ | 268.6 |  |  | $ | 1,190.3 |  |  | $ | 869.8 |  |  | $ | 280.4 |  |  | $ | 1,150.2 |
Interferon** |  | 345.6 |  |  | 135.8 |  |  | 481.4 |  |  | 379.7 |  |  | 174.7 |  |  | 554.4 |
TYSABRI |  | 244.1 |  |  | 187.9 |  |  | 432.0 |  |  | 264.3 |  |  | 211.0 |  |  | 475.3 |
FAMPYRA |  | — |  |  | 23.0 |  |  | 23.0 |  |  | — |  |  | 24.1 |  |  | 24.1 |
Subtotal: MS product revenues |  | 1,511.4 |  |  | 615.3 |  |  | 2,126.7 |  |  | 1,513.8 |  |  | 690.2 |  |  | 2,204.0 |
Spinal Muscular Atrophy: |  |  |  |  |  |  |  |  |  |  |  |
SPINRAZA |  | 210.3 |  |  | 284.3 |  |  | 494.6 |  |  | 230.6 |  |  | 257.6 |  |  | 488.2 |
Biosimilars: |  |  |  |  |  |  |  |  |  |  |  |
BENEPALI |  | — |  |  | 106.2 |  |  | 106.2 |  |  | — |  |  | 120.3 |  |  | 120.3 |
IMRALDI |  | — |  |  | 44.8 |  |  | 44.8 |  |  | — |  |  | 47.3 |  |  | 47.3 |
FLIXABI |  | — |  |  | 20.6 |  |  | 20.6 |  |  | — |  |  | 16.8 |  |  | 16.8 |
Subtotal: Biosimilar product revenues |  | — |  |  | 171.6 |  |  | 171.6 |  |  | — |  |  | 184.4 |  |  | 184.4 |
Other: |  |  |  |  |  |  |  |  |  |  |  |
FUMADERM |  | — |  |  | 2.8 |  |  | 2.8 |  |  | — |  |  | 3.7 |  |  | 3.7 |
Total product revenues |  | $ | 1,721.7 |  |  | $ | 1,074.0 |  |  | $ | 2,795.7 |  |  | $ | 1,744.4 |  |  | $ | 1,135.9 |  |  | $ | 2,880.3 |
*Fumarate includes TECFIDERA and VUMERITY. VUMERITY became commercially available in the U.S. in November 2019. **Interferon includes AVONEX and PLEGRIDY.
|  | For the Six Months Ended June 30,
(In millions) |  | 2020 |  | 2019
|  | United States |  | Rest of World |  | Total |  | United States |  | Rest of World |  | Total
Multiple Sclerosis (MS): |  |  |  |  |  |  |  |  |  |  |  |
Fumarate* |  | $ | 1,699.2 |  |  | $ | 591.9 |  |  | $ | 2,291.1 |  |  | $ | 1,587.5 |  |  | $ | 561.5 |  |  | $ | 2,149.0 |
Interferon** |  | 638.2 |  |  | 309.2 |  |  | 947.4 |  |  | 707.0 |  |  | 348.3 |  |  | 1,055.3 |
TYSABRI |  | 521.8 |  |  | 432.6 |  |  | 954.4 |  |  | 509.3 |  |  | 426.4 |  |  | 935.7 |
FAMPYRA |  | — |  |  | 51.3 |  |  | 51.3 |  |  | — |  |  | 47.0 |  |  | 47.0 |
Subtotal: MS product revenues |  | 2,859.2 |  |  | 1,385.0 |  |  | 4,244.2 |  |  | 2,803.8 |  |  | 1,383.2 |  |  | 4,187.0 |
Spinal Muscular Atrophy: |  |  |  |  |  |  |  |  |  |  |  |
SPINRAZA |  | 445.7 |  |  | 613.9 |  |  | 1,059.6 |  |  | 453.9 |  |  | 552.8 |  |  | 1,006.7 |
Biosimilars: |  |  |  |  |  |  |  |  |  |  |  |
BENEPALI |  | — |  |  | 239.7 |  |  | 239.7 |  |  | — |  |  | 244.3 |  |  | 244.3 |
IMRALDI |  | — |  |  | 106.4 |  |  | 106.4 |  |  | — |  |  | 83.0 |  |  | 83.0 |
FLIXABI |  | — |  |  | 44.3 |  |  | 44.3 |  |  | — |  |  | 31.5 |  |  | 31.5 |
Subtotal: Biosimilar product revenues |  | — |  |  | 390.4 |  |  | 390.4 |  |  | — |  |  | 358.8 |  |  | 358.8 |
Other: |  |  |  |  |  |  |  |  |  |  |  |
FUMADERM |  | — |  |  | 6.1 |  |  | 6.1 |  |  | — |  |  | 7.8 |  |  | 7.8 |
Total product revenues |  | $ | 3,304.9 |  |  | $ | 2,395.4 |  |  | $ | 5,700.3 |  |  | $ | 3,257.7 |  |  | $ | 2,302.6 |  |  | $ | 5,560.3 |
*Fumarate includes TECFIDERA and VUMERITY. VUMERITY became commercially available in the U.S. in November 2019. **Interferon includes AVONEX and PLEGRIDY.
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, as of December 31, 2019 |  | $ | 131.1 |  |  | $ | 1,027.3 |  |  | $ | 40.5 |  |  | $ | 1,198.9 |
Current provisions relating to sales in current year |  | 387.5 |  |  | 1,624.2 |  |  | 9.9 |  |  | 2,021.6 |
Adjustments relating to prior years |  | (1.3 | ) |  | (25.7 | ) |  | 0.7 |  |  | (26.3 | )
Payments/credits relating to sales in current year |  | (251.4 | ) |  | (1,018.7 | ) |  | — |  |  | (1,270.1 | )
Payments/credits relating to sales in prior years |  | (126.5 | ) |  | (612.9 | ) |  | (10.0 | ) |  | (749.4 | )
Balance, as of June 30, 2020 |  | $ | 139.4 |  |  | $ | 994.2 |  |  | $ | 41.1 |  |  | $ | 1,174.7 |
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 June 30, 2020 |  | As of December 31, 2019
Reduction of accounts receivable, net |  | $ | 223.4 |  |  | $ | 197.8 |
Component of accrued expenses and other |  | 951.3 |  |  | 1,001.1 |
Total revenue-related reserves |  | $ | 1,174.7 |  |  | $ | 1,198.9 |
Revenues from anti-CD20 therapeutic programs | Revenues from anti-CD20 therapeutic programs are summarized 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) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Biogen’s share of pre-tax profits in the U.S. for RITUXAN and GAZYVA |  | $ | 257.5 |  |  | $ | 377.2 |  |  | $ | 598.8 |  |  | $ | 768.0 |
Other revenues from anti-CD20 therapeutic programs |  | 220.8 |  |  | 199.2 |  |  | 399.9 |  |  | 325.8 |
Total revenues from anti-CD20 therapeutic programs |  | $ | 478.3 |  |  | $ | 576.4 |  |  | $ | 998.7 |  |  | $ | 1,093.8 |
Other revenues | Other revenues are summarized as follows:
|  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
(In millions) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Revenues from collaborative and other relationships: |  |  |  |  |  |  |  |
Profit (loss) earned under our 50% share of the co-promotion losses on ZINBRYTA in the U.S. with AbbVie Inc. |  | $ | 0.5 |  |  | $ | (0.1 | ) |  | $ | 0.7 |  |  | $ | (0.5 | )
Revenues earned under our technical development agreement, manufacturing services agreements and royalty revenues on biosimilar products with Samsung Bioepis |  | 4.5 |  |  | 52.2 |  |  | 8.2 |  |  | 77.0 |
Other royalty and corporate revenues: |  |  |  |  |  |  |  |
Royalty |  | 7.1 |  |  | 2.7 |  |  | 18.5 |  |  | 6.6 |
Other corporate |  | 395.5 |  |  | 105.2 |  |  | 489.5 |  |  | 369.3 |
Total other revenues |  | $ | 407.6 |  |  | $ | 160.0 |  |  | $ | 516.9 |  |  | $ | 452.4 |

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