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REVENUE, CREDIT CONCENTRATIONS AND GEOGRAPHIC INFORMATION | 6 Months Ended
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Jun. 30, 2022
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 following table disaggregates total Net Product Revenues by product.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Net product revenues by product: |  |  |  |  |  |  |
Vimizim | $ | 173,206 |  |  | $ | 171,655 |  |  | $ | 356,265 |  |  | $ | 329,953 |
Naglazyme | 115,783 |  |  | 118,813 |  |  | 243,814 |  |  | 226,149 |
Palynziq | 61,643 |  |  | 58,935 |  |  | 116,528 |  |  | 112,973 |
Kuvan | 57,602 |  |  | 78,807 |  |  | 116,939 |  |  | 149,570 |
Brineura | 37,725 |  |  | 30,332 |  |  | 73,898 |  |  | 57,657 |
Voxzogo | 34,374 |  |  | — |  |  | 54,032 |  |  | — |
Total net product revenues marketed by the Company | 480,333 |  |  | 458,542 |  |  | 961,476 |  |  | 876,302 |
Aldurazyme net product revenues marketed by Sanofi | 37,327 |  |  | 28,128 |  |  | 61,709 |  |  | 78,137 |
Total net product revenues | 517,660 |  |  | 486,670 |  |  | 1,023,185 |  |  | 954,439 |
Royalty and other revenues | 16,138 |  |  | 15,023 |  |  | 29,972 |  |  | 33,284 |
Total revenues | $ | 533,798 |  |  | $ | 501,693 |  |  | $ | 1,053,157 |  |  | $ | 987,723 |
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 table below disaggregates total Net Product Revenues by geographic region, which is based on patient location for Company's commercial products sold directly by the Company, except for Aldurazyme, which is sold exclusively by Sanofi worldwide.
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
United States | $ | 169,838 |  |  | $ | 169,411 |  |  | $ | 320,653 |  |  | $ | 324,474 |
Europe | 161,230 |  |  | 166,704 |  |  | 318,062 |  |  | 315,576 |
Latin America | 89,911 |  |  | 42,248 |  |  | 152,455 |  |  | 101,953 |
Rest of world | 59,354 |  |  | 80,179 |  |  | 170,306 |  |  | 134,299 |
Total net product revenues marketed by the Company | $ | 480,333 |  |  | $ | 458,542 |  |  | $ | 961,476 |  |  | $ | 876,302 |
Aldurazyme net product revenues marketed by Sanofi | 37,327 |  |  | 28,128 |  |  | 61,709 |  |  | 78,137 |
Total net product revenues | $ | 517,660 |  |  | $ | 486,670 |  |  | $ | 1,023,185 |  |  | $ | 954,439 |
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,
| 2022 |  | 2021 |  | 2022 |  | 2021
Customer A | 16 | % |  | 16 | % |  | 16 | % |  | 16 | %
Customer B | 12 | % |  | 13 | % |  | 12 | % |  | 13 | %
Customer C | 5 | % |  | 12 | % |  | 5 | % |  | 10 | %
Total | 33 | % |  | 41 | % |  | 33 | % |  | 39 | %
On a consolidated basis, two customers accounted for 21% and 16% of the Company’s June 30, 2022 accounts receivable balance, respectively, compared to December 31, 2021, when two customers accounted for 28% and 16% of the accounts receivable balance, respectively. As of June 30, 2022, and December 31, 2021, the accounts receivable balance for Sanofi included $69.5 million and $67.9 million, respectively, of unbilled accounts receivable, which becomes payable to the Company when the product is sold through by Sanofi. 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 Company's global revenue sources and its business operations were impacted by the COVID-19 pandemic during the six months ended June 30, 2022 and 2021, mostly in the form of demand interruptions such as missed patient infusions and delayed treatment starts for new patients, and the Company anticipates a continued impact due to COVID-19 on its financial results in 2022. 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. 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.

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