Revenue Recognition and Collaborative Arrangements

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition and Collaborative Arrangements

3. Revenue Recognition and Collaborative Arrangements

We recognize royalty revenue on net sales of products with respect to which we have contractual royalty rights in the period in which the royalties are earned. Royalties, which may include adjustments of estimates of net sales in prior periods, are recognized net of amortization of capitalized fees associated with any approval and launch milestone payments made to GSK.

Net Revenue from Collaborative Arrangements

Net revenue recognized under our GSK Agreements was as follows:

	Three Months Ended March 31,
(In thousands)	2022			2021
Royalties from a related party    - RELVAR/BREO	$	55,764		$	56,390
Royalties from a related party    - ANORO		8,442			10,500
Royalties from a related party    - TRELEGY		29,309			22,084
Total royalties from a related party		93,515			88,974
Less: amortization of capitalized fees    paid to a related party		(3,456	)		(3,456	)
Royalty revenue from GSK	$	90,059		$	85,518