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v3.21.1

Revenues (Tables) | 3 Months Ended
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Mar. 31, 2021
Revenue from Contract with Customer [Abstract] |
Revenues by product | 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.
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, 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 |
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, 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 |
Revenues 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 |  |  |  |  |
Other revenues | 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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