XML 36 R20.htm IDEA: XBRL DOCUMENT v3.21.2
Revenues (Tables)
 6 Months Ended
Jul. 02, 2021
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Revenues consisted of the following (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Product revenues:
Gross product revenues$380,204 $229,898 $694,409 $482,464 
Discounts and allowances(95,956)(51,168)(182,949)(109,854)
Net product revenues284,248 178,730 511,460 372,610 
Collaboration revenues:
License revenues39,640 59,234 67,168 80,113 
Collaboration services revenues61,289 21,515 76,779 33,671 
Total collaboration revenues100,929 80,749 143,947 113,784 
Total revenues$385,177 $259,479 $655,407 $486,394 
Net product revenues by product were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
CABOMETYX$275,614 $173,610 $499,209 $362,826 
COMETRIQ8,634 5,120 12,251 9,784 
Net product revenues$284,248 $178,730 $511,460 $372,610 
Schedule of Concentration Risks
The percentage of total revenues by customer who individually accounted for 10% or more of our total revenues were as follows:
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
Ipsen Pharma SAS24 %20 %19 %17 %
Affiliates of McKesson Corporation14 %11 %14 %13 %
Affiliates of CVS Health Corporation13 %13 %14 %15 %
Affiliates of AmerisourceBergen Corporation12 %11 %13 %11 %
Affiliates of Optum Specialty Pharmacy8 %10 %9 %11 %
Accredo Health, Incorporated8 %10 %8 %9 %
Takeda Pharmaceutical Company Limited2 %10 %2 %5 %
The percentage of trade receivables by customer who individually accounted for 10% or more of our trade receivables were as follows:
June 30, 2021December 31, 2020
Ipsen Pharma SAS24 %23 %
Affiliates of McKesson Corporation21 %12 %
Affiliates of AmerisourceBergen Corporation19 %11 %
Affiliates of CVS Health Corporation13 %11 %
Takeda Pharmaceutical Company Limited4 %10 %
Schedule of Revenues Disaggregated by Geographic Region
Revenues by geographic region were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2021202020212020
U.S.$287,190 $181,231 $517,147 $377,827 
Europe90,921 52,917 124,727 81,953 
Japan7,066 25,331 13,533 26,614 
Total revenues$385,177 $259,479 $655,407 $486,394 
Schedule of Activities and Ending Reserve Balances for Significant Categories of Discounts and Allowances
The activities and ending reserve balances for each significant category of discounts and allowances, which constitute variable consideration, were as follows (in thousands):
Chargebacks, Discounts for Prompt Payment and Other
Other Customer Credits/Fees and Co-pay Assistance
Rebates
Total
Balance at December 31, 2020
$9,853 $3,279 $17,404 $30,536 
Provision related to sales made in:
Current period114,489 15,392 51,355 181,236 
Prior periods(40)(164)1,917 1,713 
Payments and customer credits issued(108,487)(11,637)(46,349)(166,473)
Balance at June 30, 2021
$15,815 $6,870 $24,327 $47,012 
Schedule of Other Assets and Other Liabilities Contract assets and liabilities were as follows (in thousands):
June 30, 2021December 31, 2020
Contract assets
Current portion(1)
$9,749 $— 
Long-term portion(1)
948 — 
Total contract assets$10,697 $— 
Contract liabilities:
Current portion(2)
$6,314 $1,790 
Long-term portion(2)
8,577 3,755 
Total contract liabilities$14,891 $5,545 
____________________
(1)    Presented in prepaid and other current assets and other long-term assets, respectively, on the accompanying Condensed Consolidated Balance Sheets.
(2)    Presented in other current liabilities and long-term portion of deferred revenues, respectively, in the accompanying Condensed Consolidated Balance Sheets.