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v3.22.4

Revenue (Tables) | 12 Months Ended
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Dec. 31, 2022
Revenue from Contract with Customer [Abstract] |
Revenue by product | Revenue by product are summarized as follows:
|  | For the Years Ended December 31,
|  | 2022 |  | 2021 |  | 2020
(In millions) |  | United States |  | Rest of World |  | Total |  | United States |  | Rest of World |  | Total |  | United States |  | Rest of World |  | Total
Multiple Sclerosis (MS): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
TECFIDERA |  | $ | 417.7 |  |  | $ | 1,026.2 |  |  | $ | 1,443.9 |  |  | $ | 680.6 |  |  | $ | 1,271.3 |  |  | $ | 1,951.9 |  |  | $ | 2,677.7 |  |  | $ | 1,163.4 |  |  | $ | 3,841.1 |
VUMERITY(1) |  | 521.3 |  |  | 32.1 |  |  | 553.4 |  |  | 408.9 |  |  | 1.5 |  |  | 410.4 |  |  | 64.3 |  |  | — |  |  | 64.3 |
Total Fumarate |  | 939.0 |  |  | 1,058.3 |  |  | 1,997.3 |  |  | 1,089.5 |  |  | 1,272.8 |  |  | 2,362.3 |  |  | 2,742.0 |  |  | 1,163.4 |  |  | 3,905.4 |
AVONEX |  | 649.2 |  |  | 324.3 |  |  | 973.5 |  |  | 830.2 |  |  | 378.5 |  |  | 1,208.7 |  |  | 1,083.4 |  |  | 408.5 |  |  | 1,491.9 |
PLEGRIDY |  | 148.4 |  |  | 183.5 |  |  | 331.9 |  |  | 152.9 |  |  | 204.5 |  |  | 357.4 |  |  | 190.1 |  |  | 195.5 |  |  | 385.6 |
Total Interferon |  | 797.6 |  |  | 507.8 |  |  | 1,305.4 |  |  | 983.1 |  |  | 583.0 |  |  | 1,566.1 |  |  | 1,273.5 |  |  | 604.0 |  |  | 1,877.5 |
TYSABRI |  | 1,123.4 |  |  | 907.5 |  |  | 2,030.9 |  |  | 1,142.2 |  |  | 920.9 |  |  | 2,063.1 |  |  | 1,096.8 |  |  | 849.3 |  |  | 1,946.1 |
FAMPYRA |  | — |  |  | 96.6 |  |  | 96.6 |  |  | — |  |  | 105.2 |  |  | 105.2 |  |  | — |  |  | 103.1 |  |  | 103.1 |
Subtotal: MS |  | 2,860.0 |  |  | 2,570.2 |  |  | 5,430.2 |  |  | 3,214.8 |  |  | 2,881.9 |  |  | 6,096.7 |  |  | 5,112.3 |  |  | 2,719.8 |  |  | 7,832.1 |
Spinal Muscular Atrophy: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
SPINRAZA |  | 600.2 |  |  | 1,193.3 |  |  | 1,793.5 |  |  | 587.9 |  |  | 1,317.2 |  |  | 1,905.1 |  |  | 787.8 |  |  | 1,264.3 |  |  | 2,052.1 |
Biosimilars: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BENEPALI |  | — |  |  | 441.0 |  |  | 441.0 |  |  | — |  |  | 498.3 |  |  | 498.3 |  |  | — |  |  | 481.6 |  |  | 481.6 |
IMRALDI |  | — |  |  | 224.5 |  |  | 224.5 |  |  | — |  |  | 233.4 |  |  | 233.4 |  |  | — |  |  | 216.3 |  |  | 216.3 |
FLIXABI |  | — |  |  | 81.3 |  |  | 81.3 |  |  | — |  |  | 99.4 |  |  | 99.4 |  |  | — |  |  | 97.9 |  |  | 97.9 |
BYOOVIZ(2) |  | 4.3 |  |  | — |  |  | 4.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Subtotal: Biosimilars |  | 4.3 |  |  | 746.8 |  |  | 751.1 |  |  | — |  |  | 831.1 |  |  | 831.1 |  |  | — |  |  | 795.8 |  |  | 795.8 |
Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FUMADERM |  | — |  |  | 8.2 |  |  | 8.2 |  |  | — |  |  | 11.0 |  |  | 11.0 |  |  | — |  |  | 12.2 |  |  | 12.2 |
ADUHELM |  | 4.8 |  |  | — |  |  | 4.8 |  |  | 3.0 |  |  | — |  |  | 3.0 |  |  | — |  |  | — |  |  | — |
Total product revenue |  | $ | 3,469.3 |  |  | $ | 4,518.5 |  |  | $ | 7,987.8 |  |  | $ | 3,805.7 |  |  | $ | 5,041.2 |  |  | $ | 8,846.9 |  |  | $ | 5,900.1 |  |  | $ | 4,792.1 |  |  | $ | 10,692.2 |
(1) VUMERITY became commercially available in the E.U. during the fourth quarter of 2021. (2) BYOOVIZ launched in the U.S. in June 2022 and became commercially available during the third quarter of 2022.
Analysis of change in reserves | An analysis of the change in reserves for discounts and allowances is summarized as follows:
|  | December 31, 2022
(In millions) |  | Discounts |  | Contractual Adjustments |  | Returns |  | Total
Beginning balance |  | $ | 137.7 |  |  | $ | 759.6 |  |  | $ | 38.0 |  |  | $ | 935.3 |
Current provisions relating to sales in current year |  | 666.6 |  |  | 2,715.5 |  |  | 12.3 |  |  | 3,394.4 |
Adjustments relating to prior years |  | (2.8) |  |  | 1.4 |  |  | (7.2) |  |  | (8.6) |
Payments/credits relating to sales in current year |  | (514.9) |  |  | (2,060.7) |  |  | (1.2) |  |  | (2,576.8) |
Payments/credits relating to sales in prior years |  | (132.8) |  |  | (558.1) |  |  | (18.4) |  |  | (709.3) |
Ending balance |  | $ | 153.8 |  |  | $ | 857.7 |  |  | $ | 23.5 |  |  | $ | 1,035.0 |
|  | December 31, 2021
(In millions) |  | Discounts |  | Contractual Adjustments |  | Returns |  | Total
Beginning balance |  | $ | 141.4 |  |  | $ | 1,093.0 |  |  | $ | 41.6 |  |  | $ | 1,276.0 |
Current provisions relating to sales in current year |  | 736.7 |  |  | 2,948.7 |  |  | 15.2 |  |  | 3,700.6 |
Adjustments relating to prior years |  | (4.0) |  |  | (96.1) |  |  | (3.3) |  |  | (103.4) |
Payments/credits relating to sales in current year |  | (599.3) |  |  | (2,283.1) |  |  | (0.4) |  |  | (2,882.8) |
Payments/credits relating to sales in prior years |  | (137.1) |  |  | (902.9) |  |  | (15.1) |  |  | (1,055.1) |
Ending balance |  | $ | 137.7 |  |  | $ | 759.6 |  |  | $ | 38.0 |  |  | $ | 935.3 |
|  | December 31, 2020
(In millions) |  | Discounts |  | Contractual Adjustments |  | Returns |  | Total
Beginning balance |  | $ | 131.1 |  |  | $ | 1,027.3 |  |  | $ | 40.5 |  |  | $ | 1,198.9 |
Current provisions relating to sales in current year |  | 774.7 |  |  | 3,308.8 |  |  | 19.0 |  |  | 4,102.5 |
Adjustments relating to prior years |  | (1.0) |  |  | (54.0) |  |  | 1.3 |  |  | (53.7) |
Payments/credits relating to sales in current year |  | (635.1) |  |  | (2,426.1) |  |  | — |  |  | (3,061.2) |
Payments/credits relating to sales in prior years |  | (128.3) |  |  | (763.0) |  |  | (19.2) |  |  | (910.5) |
Ending balance |  | $ | 141.4 |  |  | $ | 1,093.0 |  |  | $ | 41.6 |  |  | $ | 1,276.0 |
Total reserves included in consolidated balance sheet | The total reserves above, which are included in our consolidated balance sheets, are summarized as follows:
|  | As of December 31,
(In millions) |  | 2022 |  | 2021
Reduction of accounts receivable |  | $ | 143.4 |  |  | $ | 133.2 |
Component of accrued expense and other |  | 891.6 |  |  | 802.1 |
Total revenue-related reserves |  | $ | 1,035.0 |  |  | $ | 935.3 |
Revenues from anti-CD20 therapeutic programs | Revenue from anti-CD20 therapeutic programs is summarized in the table below. For purposes of this footnote, we refer to RITUXAN and RITUXAN HYCELA collectively as RITUXAN.
|  | For the Years Ended December 31,
(In millions) |  | 2022 |  | 2021 |  | 2020
Royalty revenue on sales of OCREVUS |  | $ | 1,136.3 |  |  | $ | 991.7 |  |  | $ | 845.4 |
Biogen's share of pre-tax profits in the U.S. for RITUXAN and GAZYVA |  | 547.0 |  |  | 647.7 |  |  | 1,080.2 |
Other revenue from anti-CD20 therapeutic programs |  | 17.2 |  |  | 19.1 |  |  | 52.2 |
Total revenue from anti-CD20 therapeutic programs |  | $ | 1,700.5 |  |  | $ | 1,658.5 |  |  | $ | 1,977.8 |
Revenue from anti-CD20 therapeutic programs is summarized as follows:
|  | For the Years Ended December 31,
(In millions) |  | 2022 |  | 2021 |  | 2020
Royalty revenue on sales of OCREVUS |  | $ | 1,136.3 |  |  | $ | 991.7 |  |  | $ | 845.4 |
Biogen's share of pre-tax profits in the U.S. for RITUXAN and GAZYVA |  | 547.0 |  |  | 647.7 |  |  | 1,080.2 |
Other revenue from anti-CD20 therapeutic programs |  | 17.2 |  |  | 19.1 |  |  | 52.2 |
Total revenue from anti-CD20 therapeutic programs |  | $ | 1,700.5 |  |  | $ | 1,658.5 |  |  | $ | 1,977.8 |
Other revenues | Other revenue consists of royalty revenue and contract manufacturing and other revenue and is summarized as follows:
|  | For the Years Ended December 31,
(In millions) |  | 2022 |  | 2021 |  | 2020
Contract manufacturing and other revenue |  | $ | 417.7 |  |  | $ | 427.7 |  |  | $ | 719.1 |
Royalty revenue |  | 67.4 |  |  | 48.6 |  |  | 55.5 |
Total other revenue |  | $ | 485.1 |  |  | $ | 476.3 |  |  | $ | 774.6 |

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