Collaboration Agreement (Tables)

3 Months Ended

Mar. 31, 2015

The triggering events for the sales milestone payments are as follows:


Annual Global Net Sales in a Calendar Year	Milestone Payment⁽¹⁾
$400 million		⁽²	⁾
$800 million		⁽³	⁾
$1.2 billion	$	70 million
$1.6 billion	$	175 million

(1)	Each milestone shall only be paid once during the term of the Astellas Collaboration Agreement.

(2)	This milestone totaling $25.0 million was earned and recognized as collaboration revenue during the fourth quarter of 2013 and payment was received in the first quarter of 2014.

(3)	This milestone totaling $50.0 million was earned and recognized as collaboration revenue during the fourth quarter of 2014 and is included in receivable from collaboration partner on the consolidated balance sheet at December 31, 2014. Payment was received during the first quarter of 2015.

Collaboration revenue was as follows:


	Three Months Ended March 31,
	2015		2014
Collaboration revenue:
Related to U.S. XTANDI net sales	$	112,010	$	62,225
Related to ex-U.S. XTANDI net sales		15,767		5,731
Related to upfront and milestone payments		1,411		19,233

Total	$	129,188	$	87,189

Collaboration revenue related to U.S. XTANDI net sales was as follows:


	Three Months Ended March 31,
	2015			2014
U.S. XTANDI net sales (as reported by Astellas)	$	224,020		$	124,451
Shared U.S. development and commercialization costs		(110,313	)		(77,707	)

Pre-tax U.S. profit	$	113,707		$	46,744

Medivation’s share of pre-tax U.S. profit	$	56,853		$	23,372
Reimbursement of Medivation’s share of shared U.S. costs		55,157			38,853

Collaboration revenue related to U.S. XTANDI net sales	$	112,010		$	62,225

Collaboration revenue related to upfront and milestone payments from Astellas was as follows:


	Three Months Ended March 31,
	2015		2014
Development milestones earned	$	—	$	15,000
Amortization of deferred upfront and development milestones		1,411		4,233

Total	$	1,411	$	19,233