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Collaborative and Other Relationships (Tables) | 6 Months Ended
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Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Co-promotion profit sharing formula | As a result of the FDA approval of LUNSUMIO our share of the combined annual co-promotion profits for RITUXAN and LUNSUMIO in excess of $50.0 million varies upon the following events, as summarized in the table below:
After LUNSUMIO Approval until the First Threshold Date | 37.5 | %
After First Threshold Date until the Second Threshold Date | 35.0 | %
After Second Threshold Date | 30.0 | %
Pretax profit sharing formula | Our share of annual co-promotion profits in excess of $50.0 million varies upon the following events, as summarized in the table below:
Until Second GAZYVA Threshold Date | 37.5 | %
After Second GAZYVA Threshold Date | 35.0 | %
Summary of activity related to the UCB collaboration | A summary of development expense related to the UCB collaboration agreement is as follows:
|  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
(In millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Total UCB collaboration development expense |  | $ | 16.5 |  |  | $ | 14.3 |  |  | $ | 33.1 |  |  | $ | 32.6 |
Biogen's share of UCB collaboration development expense reflected in research and development expense in our condensed consolidated statements of income |  | 8.3 |  |  | 7.1 |  |  | 16.6 |  |  | 16.3 |
Summary of Activity Related to Denali Therapeutics Collaboration | A summary of development expense related to the Denali collaboration is as follows:
|  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
(In millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Total Denali collaboration development expense |  | $ | 15.4 |  |  | $ | 22.1 |  |  | $ | 29.6 |  |  | $ | 38.7 |
Biogen's share of Denali collaboration development expense reflected in research and development expense in our condensed consolidated statements of income |  | 9.3 |  |  | 13.2 |  |  | 17.8 |  |  | 23.2 |
Summary of Activity Related to BAN2401 and Elenbecestat Collaboration | A summary of development and sales and marketing expense related to the LEQEMBI Collaboration is as follows:
|  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
(In millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Total development expense incurred by the collaboration related to the advancement of LEQEMBI |  | $ | 90.6 |  |  | $ | 86.2 |  |  | $ | 177.9 |  |  | $ | 194.1 |
Biogen's share of the LEQEMBI Collaboration development expense reflected in research and development expense in our condensed consolidated statements of income |  | 45.4 |  |  | 43.0 |  |  | 89.0 |  |  | 97.0 |
Total sales and marketing expense incurred by the LEQEMBI Collaboration |  | 137.7 |  |  | 17.1 |  |  | 311.6 |  |  | 27.6 |
Biogen's share of the LEQEMBI Collaboration sales and marketing expense reflected in selling, general and administrative expense in our condensed consolidated statements of income |  | 68.9 |  |  | 8.5 |  |  | 155.8 |  |  | 13.8 |
Summary of Activity Related to Sage Therapeutics | A summary of development and sales and marketing expense related to the Sage collaboration is as follows:
|  | For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
(In millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Total Sage collaboration development expense |  | $ | 9.6 |  |  | $ | 52.1 |  |  | $ | 21.2 |  |  | $ | 86.9 |
Biogen's share of Sage collaboration development expense reflected in research and development expense in our condensed consolidated statements of income |  | 4.8 |  |  | 26.1 |  |  | 10.6 |  |  | 43.5 |
Total sales and marketing expense incurred by the Sage collaboration |  | 26.9 |  |  | 60.1 |  |  | 54.5 |  |  | 98.3 |
Biogen's share of Sage collaboration sales and marketing expense reflected in selling, general and administrative expense and collaboration profit sharing/(loss reimbursement) in our condensed consolidated statements of income |  | 13.5 |  |  | 30.0 |  |  | 27.3 |  |  | 49.1 |

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