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REVENUE, CREDIT CONCENTRATIONS AND GEOGRAPHIC INFORMATION
6 Months Ended
Jun. 30, 2021
Concentration Risk And Geographic Information [Abstract]  
REVENUE, CREDIT CONCENTRATIONS AND GEOGRAPHIC INFORMATION REVENUE, CREDIT CONCENTRATIONS AND GEOGRAPHIC INFORMATION
The Company operates in one business segment, which primarily focuses on the development and commercialization of innovative therapies for people with serious and life-threatening rare diseases and medical conditions. The Company considers there to be revenue concentration risks for regions where Net Product Revenues exceed 10% of consolidated Net Product Revenues. The concentration of the Company’s Net Product Revenues within the regions below may have a material adverse effect on the Company’s revenues and results of operations if sales in the respective regions experience difficulties.
The following table disaggregates Total Revenues from external customers and collaborative partners by geographic region. Net product revenues by geographic region are based on patient location for the Company’s commercial products, except for Aldurazyme, which is sold exclusively to Sanofi Genzyme (Genzyme) who markets and sells Aldurazyme worldwide. Aldurazyme revenues earned by the Company are included in the U.S. region as the transactions are with Genzyme, whose headquarters is located in the U.S.  
Three Months Ended
June 30,
Six Months Ended
June 30,
2021202020212020
Total revenues by geographic region:
United States$204,245 $232,552 $412,431 $476,724 
Europe172,678 109,259 334,519 254,295 
Latin America42,248 37,864 101,953 97,788 
Rest of world82,522 49,810 138,820 102,747 
Total revenues$501,693 $429,485 $987,723 $931,554 
The following table disaggregates total Net Product Revenues by product.
Three Months Ended
June 30,
Six Months Ended
June 30,
2021202020212020
Net product revenues by product:
Vimizim$171,655 $116,695 $329,953 $253,898 
Naglazyme118,813 81,006 226,149 195,262 
Kuvan78,807 122,611 149,570 244,611 
Palynziq58,935 40,630 112,973 75,262 
Brineura30,332 25,798 57,657 49,768 
Firdapse— — — 1,316 
Total net product revenues marketed by the Company$458,542 $386,740 $876,302 $820,117 
Aldurazyme net product revenues marketed by Genzyme28,128 32,292 $78,137 $87,958 
Total net product revenues$486,670 $419,032 $954,439 $908,075 
The table below disaggregates total Net Product Revenues based on patient location for products sold directly by the Company, and global sales of Aldurazyme, which is marketed by Genzyme. 
Three Months Ended
June 30,
Six Months Ended
June 30,
2021202020212020
United States$169,411 $197,171 $324,474 $378,842 
Europe166,704 104,319 315,576 245,170 
Latin America42,248 37,864 101,953 97,788 
Rest of world80,179 47,386 134,299 98,317 
Total net product revenues marketed by the Company$458,542 $386,740 $876,302 $820,117 
Aldurazyme net product revenues marketed by Genzyme28,128 32,292 78,137 87,958 
Total net product revenues$486,670 $419,032 $954,439 $908,075 
The following table illustrates the percentage of the Company’s total Net Product Revenues attributed to the Company’s largest customers for the periods presented. 
Three Months Ended
June 30,
Six Months Ended
June 30,
2021202020212020
Customer A16 %15 %16 %14 %
Customer B13 %16 %13 %14 %
Customer C12 %%10 %%
Customer D%13 %%12 %
Total50 %48 %48 %46 %
On a consolidated basis, two customers accounted for 28% and 15% of the Company’s June 30, 2021 accounts receivable balance, respectively, compared to December 31, 2020, when two customers accounted for 24% and 22% of the accounts receivable balance, respectively. As of June 30, 2021, and December 31, 2020, the accounts receivable balance for Genzyme included $91.3 million and $72.1 million, respectively, of unbilled accounts receivable, which becomes payable to the Company when the product is sold through by Genzyme. The Company does not require collateral from its customers, but does perform periodic credit evaluations of its customers’ financial condition and requires prepayments in certain circumstances.
The COVID-19 pandemic continues to affect economies and business around the world. The Company’s global revenue sources, mostly in the form of demand interruptions such as missed patient infusions and delayed treatment starts for new patients, and its business operations were impacted by the COVID-19 pandemic during the six months ended June 30, 2021 and 2020, and the Company anticipates a continued impact due to COVID-19 on its financial results in fiscal year 2021. The extent and duration of such effects remain uncertain and difficult to predict, particularly as virus variants continue to spread. The Company is actively monitoring and managing its response and assessing actual and potential impacts to its operating results and financial condition, as well as developments in its business, which could further impact developments, trends and expectations. See the risk factor related to the impact of the coronavirus pandemic, “The COVID-19 pandemic could continue to materially adversely affect our business, results of operations and financial condition.” described in “Risk Factors” in Part II, Item 1A of this Quarterly Report, for additional details on the impact of the COVID-19 pandemic.
The Company is mindful that conditions in the current macroeconomic environment could affect the Company’s ability to achieve its goals. The Company sells its products in countries that face economic volatility and weakness. Although the Company has historically collected receivables from customers in certain countries, sustained weakness or further deterioration of the local economies and currencies and effects of the impact of the ongoing COVID-19 pandemic may cause customers in those countries to delay payment or be unable to pay for the Company’s products. The Company believes that the allowances for doubtful accounts related to these countries, if any, are adequate based on its analysis of the specific business circumstances and expectations of collection for each of the underlying accounts in these countries. The Company will continue to monitor these conditions and will attempt to adjust its business processes, as appropriate, to mitigate macroeconomic risks to its business.