Collaboration Agreement (Tables)

9 Months Ended

Sep. 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			⁽⁴⁾
$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.

(4)	This milestone totaling $70.0 million was earned and recognized as collaboration revenue during the third quarter of 2015 and is included in receivable from collaboration partner on the condensed consolidated balance sheet at September 30, 2015.

Collaboration revenue was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Collaboration revenue:
Related to U.S. XTANDI net sales	$	156,501	$	90,723	$	417,731	$	224,814
Related to ex-U.S. XTANDI net sales		33,599		15,522		74,957		31,245
Related to upfront and milestone payments		70,565		94,233		72,822		179,698

Total	$	260,665	$	200,478	$	565,510	$	435,757

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


	Three Months Ended September 30,						Nine Months Ended September 30,
	2015			2014			2015			2014
U.S. XTANDI net sales (as reported by Astellas)	$	313,003		$	181,446		$	835,463		$	449,629
Shared U.S. development and commercialization costs		(85,384	)		(69,616	)		(280,644	)		(217,866	)

Pre-tax U.S. profit	$	227,619		$	111,830		$	554,819		$	231,763

Medivation’s share of pre-tax U.S. profit	$	113,809		$	55,915		$	277,409		$	115,881
Reimbursement of Medivation’s share of shared U.S. costs		42,692			34,808			140,322			108,933

Collaboration revenue related to U.S. XTANDI net sales	$	156,501		$	90,723		$	417,731		$	224,814

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Sales milestones earned	$	70,000	$	—	$	70,000	$	—
Development milestones earned		—		90,000		—		167,000
Amortization of deferred upfront and development milestones		565		4,233		2,822		12,698

Total	$	70,565	$	94,233	$	72,822	$	179,698