XML 41 R10.htm IDEA: XBRL DOCUMENT
v3.21.2

Revenues | 9 Months Ended
--- | ---
Sep. 30, 2021
Revenue from Contract with Customer [Abstract] |
Revenues | Product Revenue Revenue by product is summarized as follows:
|  | For the Three Months Ended September 30,
|  | 2021 |  | 2020
(In millions) |  | United States |  | Rest of World |  | Total |  | United States |  | Rest of World |  | Total
Multiple Sclerosis (MS): |  |  |  |  |  |  |  |  |  |  |  |
Fumarate* |  | $ | 299.9 |  |  | $ | 319.6 |  |  | $ | 619.5 |  |  | $ | 684.2 |  |  | $ | 283.3 |  |  | $ | 967.5 |
Interferon** |  | 252.4 |  |  | 135.1 |  |  | 387.5 |  |  | 327.3 |  |  | 146.8 |  |  | 474.1 |
TYSABRI |  | 281.1 |  |  | 241.7 |  |  | 522.8 |  |  | 304.2 |  |  | 212.3 |  |  | 516.5 |
FAMPYRA |  | — |  |  | 26.2 |  |  | 26.2 |  |  | — |  |  | 26.8 |  |  | 26.8 |
Subtotal: MS product revenue |  | 833.4 |  |  | 722.6 |  |  | 1,556.0 |  |  | 1,315.7 |  |  | 669.2 |  |  | 1,984.9 |
Spinal Muscular Atrophy: |  |  |  |  |  |  |  |  |  |  |  |
SPINRAZA |  | 139.8 |  |  | 304.3 |  |  | 444.1 |  |  | 182.5 |  |  | 311.9 |  |  | 494.4 |
Alzheimer's disease: |  |  |  |  |  |  |  |  |  |  |  |
ADUHELM*** |  | 0.3 |  |  | — |  |  | 0.3 |  |  | — |  |  | — |  |  | — |
Biosimilars: |  |  |  |  |  |  |  |  |  |  |  |
BENEPALI |  | — |  |  | 120.8 |  |  | 120.8 |  |  | — |  |  | 124.2 |  |  | 124.2 |
IMRALDI |  | — |  |  | 57.4 |  |  | 57.4 |  |  | — |  |  | 56.2 |  |  | 56.2 |
FLIXABI |  | — |  |  | 24.6 |  |  | 24.6 |  |  | — |  |  | 27.5 |  |  | 27.5 |
Subtotal: Biosimilar product revenue |  | — |  |  | 202.8 |  |  | 202.8 |  |  | — |  |  | 207.9 |  |  | 207.9 |
Other: |  |  |  |  |  |  |  |  |  |  |  |
FUMADERM |  | — |  |  | 2.5 |  |  | 2.5 |  |  | — |  |  | 3.1 |  |  | 3.1 |
Total product revenue |  | $ | 973.5 |  |  | $ | 1,232.2 |  |  | $ | 2,205.7 |  |  | $ | 1,498.2 |  |  | $ | 1,192.1 |  |  | $ | 2,690.3 |
*Fumarate includes TECFIDERA and VUMERITY. **Interferon includes AVONEX and PLEGRIDY. *** In June 2021 the U.S. Food and Drug Administration (FDA) granted accelerated approval of ADUHELM, which became commercially available in the U.S. during the second quarter of 2021. For additional information, please read Note 16, Collaborative and Other Relationships - Eisai Co., Ltd. - ADUHELM Collaboration Agreement, to these condensed consolidated financial statements.
|  | For the Nine Months Ended September 30,
|  | 2021 |  | 2020
(In millions) |  | United States |  | Rest of World |  | Total |  | United States |  | Rest of World |  | Total
Multiple Sclerosis (MS): |  |  |  |  |  |  |  |  |  |  |  |
Fumarate* |  | $ | 805.1 |  |  | $ | 945.8 |  |  | $ | 1,750.9 |  |  | $ | 2,383.4 |  |  | $ | 875.2 |  |  | $ | 3,258.6 |
Interferon** |  | 751.6 |  |  | 436.8 |  |  | 1,188.4 |  |  | 965.5 |  |  | 456.0 |  |  | 1,421.5 |
TYSABRI |  | 854.2 |  |  | 696.2 |  |  | 1,550.4 |  |  | 826.0 |  |  | 644.9 |  |  | 1,470.9 |
FAMPYRA |  | — |  |  | 78.8 |  |  | 78.8 |  |  | — |  |  | 78.1 |  |  | 78.1 |
Subtotal: MS product revenue |  | 2,410.9 |  |  | 2,157.6 |  |  | 4,568.5 |  |  | 4,174.9 |  |  | 2,054.2 |  |  | 6,229.1 |
Spinal Muscular Atrophy: |  |  |  |  |  |  |  |  |  |  |  |
SPINRAZA |  | 437.8 |  |  | 1,026.6 |  |  | 1,464.4 |  |  | 628.2 |  |  | 925.8 |  |  | 1,554.0 |
Alzheimer's disease: |  |  |  |  |  |  |  |  |  |  |  |
ADUHELM*** |  | 2.0 |  |  | — |  |  | 2.0 |  |  | — |  |  | — |  |  | — |
Biosimilars: |  |  |  |  |  |  |  |  |  |  |  |
BENEPALI |  | — |  |  | 363.9 |  |  | 363.9 |  |  | — |  |  | 363.9 |  |  | 363.9 |
IMRALDI |  | — |  |  | 170.9 |  |  | 170.9 |  |  | — |  |  | 162.6 |  |  | 162.6 |
FLIXABI |  | — |  |  | 75.4 |  |  | 75.4 |  |  | — |  |  | 71.8 |  |  | 71.8 |
Subtotal: Biosimilar product revenue |  | — |  |  | 610.2 |  |  | 610.2 |  |  | — |  |  | 598.3 |  |  | 598.3 |
Other: |  |  |  |  |  |  |  |  |  |  |  |
FUMADERM |  | — |  |  | 8.3 |  |  | 8.3 |  |  | — |  |  | 9.2 |  |  | 9.2 |
Total product revenue |  | $ | 2,850.7 |  |  | $ | 3,802.7 |  |  | $ | 6,653.4 |  |  | $ | 4,803.1 |  |  | $ | 3,587.5 |  |  | $ | 8,390.6 |
*Fumarate includes TECFIDERA and VUMERITY. **Interferon includes AVONEX and PLEGRIDY. *** In June 2021 the FDA granted accelerated approval of ADUHELM, which became commercially available in the U.S. during the second quarter of 2021. For additional information, please read Note 16, Collaborative and Other Relationships - Eisai Co., Ltd. - ADUHELM Collaboration Agreement, to these condensed consolidated financial statements. We recognized revenue from two wholesalers accounting for 26.9% and 10.8% of gross product revenue for the three months ended September 30, 2021, and 29.1% and 10.0% of gross product revenue for the nine months ended September 30, 2021. We recognized revenue from two wholesalers accounting for 31.2% and 15.6% of gross product revenue for the three months ended September 30, 2020, and 30.9% and 16.0% of gross product revenue for the nine months ended September 30, 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 |  | 556.3 |  |  | 2,255.8 |  |  | 11.1 |  |  | 2,823.2 |
Adjustments relating to prior years |  | 1.2 |  |  | (71.5) |  |  | (0.5) |  |  | (70.8) |
Payments/credits relating to sales in current year |  | (422.2) |  |  | (1,598.6) |  |  | (0.3) |  |  | (2,021.1) |
Payments/credits relating to sales in prior years |  | (136.7) |  |  | (732.1) |  |  | (9.9) |  |  | (878.7) |
Balance, September 30, 2021 |  | $ | 140.0 |  |  | $ | 946.6 |  |  | $ | 42.0 |  |  | $ | 1,128.6 |
The total reserves above, which are included in our condensed consolidated balance sheets, are summarized as follows:
(In millions) |  | As of September 30, 2021 |  | As of December 31, 2020
Reduction of accounts receivable |  | $ | 146.2 |  |  | $ | 195.4 |
Component of accrued expense and other |  | 982.4 |  |  | 1,080.6 |
Total revenue-related reserves |  | $ | 1,128.6 |  |  | $ | 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 September 30, |  | For the Nine Months Ended September 30,
(In millions) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Biogen’s share of pre-tax profits in the U.S. for RITUXAN and GAZYVA |  | $ | 145.8 |  |  | $ | 275.0 |  |  | $ | 498.7 |  |  | $ | 873.8 |
Other revenue from anti-CD20 therapeutic programs |  | 269.6 |  |  | 285.1 |  |  | 745.7 |  |  | 685.0 |
Total revenue from anti-CD20 therapeutic programs |  | $ | 415.4 |  |  | $ | 560.1 |  |  | $ | 1,244.4 |  |  | $ | 1,558.8 |
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 September 30, |  | For the Nine Months Ended September 30,
(In millions) |  | 2021 |  | 2020 |  | 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 |  | $ | 6.3 |  |  | $ | 5.4 |  |  | $ | 15.7 |  |  | $ | 13.6 |
Other revenue from collaborative and other relationships |  | — |  |  | — |  |  | — |  |  | 0.7 |
Other royalty and corporate revenue: |  |  |  |  |  |  |  |
Royalty |  | 7.7 |  |  | 10.3 |  |  | 20.3 |  |  | 28.8 |
Other corporate |  | 143.8 |  |  | 110.0 |  |  | 314.1 |  |  | 599.5 |
Total other revenue |  | $ | 157.8 |  |  | $ | 125.7 |  |  | $ | 350.1 |  |  | $ | 642.6 |

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 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
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration