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v3.21.1

Revenues | 3 Months Ended
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Mar. 31, 2021
Revenue from Contract with Customer [Abstract] |
Revenues | Product Revenue Revenue by product is summarized as follows:
|  | For the Three Months Ended March 31,
|  | 2021 |  | 2020
(In millions) |  | United States |  | Rest of World |  | Total |  | United States |  | Rest of World |  | Total
Multiple Sclerosis (MS): |  |  |  |  |  |  |  |  |  |  |  |
Fumarate* |  | $ | 236.0 |  |  | $ | 316.9 |  |  | $ | 552.9 |  |  | $ | 777.5 |  |  | $ | 323.3 |  |  | $ | 1,100.8 |
Interferon** |  | 241.8 |  |  | 158.7 |  |  | 400.5 |  |  | 292.6 |  |  | 173.4 |  |  | 466.0 |
TYSABRI |  | 273.3 |  |  | 230.0 |  |  | 503.3 |  |  | 277.7 |  |  | 244.7 |  |  | 522.4 |
FAMPYRA |  | — |  |  | 26.6 |  |  | 26.6 |  |  | — |  |  | 28.3 |  |  | 28.3 |
Subtotal: MS product revenue |  | 751.1 |  |  | 732.2 |  |  | 1,483.3 |  |  | 1,347.8 |  |  | 769.7 |  |  | 2,117.5 |
Spinal Muscular Atrophy: |  |  |  |  |  |  |  |  |  |  |  |
SPINRAZA |  | 148.7 |  |  | 371.8 |  |  | 520.5 |  |  | 235.4 |  |  | 329.6 |  |  | 565.0 |
Biosimilars: |  |  |  |  |  |  |  |  |  |  |  |
BENEPALI |  | — |  |  | 121.7 |  |  | 121.7 |  |  | — |  |  | 133.5 |  |  | 133.5 |
IMRALDI |  | — |  |  | 57.9 |  |  | 57.9 |  |  | — |  |  | 61.6 |  |  | 61.6 |
FLIXABI |  | — |  |  | 25.5 |  |  | 25.5 |  |  | — |  |  | 23.7 |  |  | 23.7 |
Subtotal: Biosimilar product revenue |  | — |  |  | 205.1 |  |  | 205.1 |  |  | — |  |  | 218.8 |  |  | 218.8 |
Other: |  |  |  |  |  |  |  |  |  |  |  |
FUMADERM |  | — |  |  | 2.8 |  |  | 2.8 |  |  | — |  |  | 3.3 |  |  | 3.3 |
Total product revenue |  | $ | 899.8 |  |  | $ | 1,311.9 |  |  | $ | 2,211.7 |  |  | $ | 1,583.2 |  |  | $ | 1,321.4 |  |  | $ | 2,904.6 |
*Fumarate includes TECFIDERA and VUMERITY. VUMERITY became commercially available in the U.S. in November 2019. **Interferon includes AVONEX and PLEGRIDY. We recognized revenue from two wholesalers accounting for 30.0% and 9.3% of gross product revenue for the three months ended March 31, 2021, and 30.0% and 14.6% for the three months ended March 31, 2020. 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, 2020 |  | $ | 141.4 |  |  | $ | 1,093.0 |  |  | $ | 41.6 |  |  | $ | 1,276.0 |
Current provisions relating to sales in current year |  | 185.1 |  |  | 775.7 |  |  | 3.8 |  |  | 964.6 |
Adjustments relating to prior years |  | 0.9 |  |  | (32.1) |  |  | 1.0 |  |  | (30.2) |
Payments/credits relating to sales in current year |  | (111.8) |  |  | (284.8) |  |  | — |  |  | (396.6) |
Payments/credits relating to sales in prior years |  | (82.8) |  |  | (562.9) |  |  | (1.7) |  |  | (647.4) |
Balance, March 31, 2021 |  | $ | 132.8 |  |  | $ | 988.9 |  |  | $ | 44.7 |  |  | $ | 1,166.4 |
The total reserves above, which are included in our condensed consolidated balance sheets, are summarized as follows:
(In millions) |  | As of March 31, 2021 |  | As of December 31, 2020
Reduction of accounts receivable |  | $ | 173.4 |  |  | $ | 195.4 |
Component of accrued expense and other |  | 993.0 |  |  | 1,080.6 |
Total revenue-related reserves |  | $ | 1,166.4 |  |  | $ | 1,276.0 |
Revenue from Anti-CD20 Therapeutic Programs Revenue from anti-CD20 therapeutic programs are 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) |  | 2021 |  | 2020 |  |  |  |
Biogen’s share of pre-tax profits in the U.S. for RITUXAN and GAZYVA |  | $ | 174.1 |  |  | $ | 341.3 |  |  |  |  |
Other revenue from anti-CD20 therapeutic programs |  | 214.9 |  |  | 179.1 |  |  |  |  |
Total revenue from anti-CD20 therapeutic programs |  | $ | 389.0 |  |  | $ | 520.4 |  |  |  |  |
For additional information on our collaboration arrangements with Genentech, please read Note 18, Collaborative and Other Relationships, to our consolidated financial statements included in our 2020 Form 10-K. Other Revenue Other revenue is summarized as follows:
|  | For the Three Months Ended March 31, |  |
(In millions) |  | 2021 |  | 2020 |  |  |  |
Revenue from collaborative and other relationships: |  |  |  |  |  |  |  |
Revenue earned under our technical development agreement, manufacturing services agreements and royalty revenue on biosimilar products with Samsung Bioepis |  | $ | 3.9 |  |  | $ | 3.7 |  |  |  |  |
Other revenue from collaborative and other relationships |  | — |  |  | 0.2 |  |  |  |  |
Other royalty and corporate revenue: |  |  |  |  |  |  |  |
Royalty |  | 6.2 |  |  | 11.4 |  |  |  |  |
Other corporate |  | 83.2 |  |  | 94.0 |  |  |  |  |
Total other revenue |  | $ | 93.3 |  |  | $ | 109.3 |  |  |  |  |

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- 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 http://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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&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 http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 + Details
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