Collaboration Agreement (Tables)

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Collaboration revenue:
Related to U.S. XTANDI net sales	$	149,220	$	71,866	$	261,230	$	134,091
Related to ex-U.S. XTANDI net sales		25,591		9,992		41,358		15,723
Related to upfront and milestone payments		846		66,232		2,257		85,465

Total	$	175,657	$	148,090	$	304,845	$	235,279

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


	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
U.S. XTANDI net sales (as reported by Astellas)	$	298,440		$	143,732		$	522,460		$	268,183
Shared U.S. development and commercialization costs		(84,947	)		(70,543	)		(195,260	)		(148,250	)

Pre-tax U.S. profit	$	213,493		$	73,189		$	327,200		$	119,933

Medivation’s share of pre-tax U.S. profit	$	106,747		$	36,594		$	163,600		$	59,966
Reimbursement of Medivation’s share of shared U.S. costs		42,473			35,272			97,630			74,125

Collaboration revenue related to U.S. XTANDI net sales	$	149,220		$	71,866		$	261,230		$	134,091

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Development milestones earned	$	—	$	62,000	$	—	$	77,000
Amortization of deferred upfront and development milestones		846		4,232		2,257		8,465

Total	$	846	$	66,232	$	2,257	$	85,465