Product Sales (Tables)

12 Months Ended

Dec. 31, 2020

Net product sales consist of the following:


	Year Ended December 31,
Net Product Sales in the United States	2020		2019		2018
EYLEA	$	4,947.2	$	4,644.2	$	4,076.7
Libtayo	270.7		175.7		14.8
Praluent	150.9		*		*
REGEN-COV	185.7		—		—
ARCALYST	13.1		14.5		14.7
	$	5,567.6	$	4,834.4	$	4,106.2

* Effective April 1, 2020, the Company is solely responsible for the development and commercialization of Praluent in the United States and records net product sales of Praluent in the United States. See Note 3 for further details.

Amounts recognized in our Statements of Operations in connection with our collaborations with Sanofi are detailed below:


	Statement of Operations Classification	Year Ended December 31,
		2020		2019		2018
Antibody:
Regeneron's share of profits (losses) in connection with commercialization of antibodies	Sanofi collaboration revenue	$	785.2	$	209.3	$	(227.0)
Sales-based milestone earned	Sanofi collaboration revenue	$	50.0	—		—
Reimbursement for manufacturing of commercial supplies	Sanofi collaboration revenue	$	368.0	$	216.0	$	113.7
Reimbursement of research and development expenses	Reduction of Research and development expense	$	226.7	$	277.7	$	265.3
Regeneron's obligation for its share of Sanofi research and development expenses	Research and development expense	$	(77.6)	$	(46.0)	$	(47.7)
Reimbursement of commercialization-related expenses	Reduction of Selling, general, and administrative expense	$	359.4	$	479.9	$	417.2
Regeneron's obligation for its share of Sanofi other expenses	Cost of collaboration and contract manufacturing	$	(21.5)	$	(12.8)	$	(16.1)

Immuno-oncology:
Regeneron's share of losses in connection with commercialization of Libtayo outside the United States	Sanofi collaboration revenue	$	(25.7)	$	(21.7)	$	(12.4)
Reimbursement for manufacturing of commercial supplies	Sanofi collaboration revenue	$	8.9	—		—
Reimbursement of research and development expenses	Reduction of Research and development expense	$	166.2	$	163.0	$	311.8
Reimbursement of commercialization-related expenses	Reduction of Selling, general, and administrative expense	$	64.7	$	10.3	$	8.9
Regeneron's obligation for Sanofi's share of Libtayo U.S. gross profits	Cost of goods sold	$	(119.1)	$	(78.2)	$	(6.8)
Amounts recognized in connection with up-front payments received	Other operating income	$	210.6	$	92.7	$	243.8

Amounts recognized in our Statements of Operations in connection with our Bayer EYLEA collaboration are as follows:


	Statement of Operations Classification	Year Ended December 31,
		2020		2019		2018
Regeneron's net profit in connection with commercialization of EYLEA outside the United States	Bayer collaboration revenue	$	1,107.9	$	1,091.4	$	992.3
Reimbursement for manufacturing of commercial supplies	Bayer collaboration revenue	$	78.2	$	54.2	$	43.8
Reimbursement of development expenses	Reduction of Research and development expense	$	46.7	$	23.0	$	11.2
Regeneron's obligation for its share of Bayer research and development expenses	Research and development expense	$	(35.8)	$	(20.1)	$	(0.5)
Reimbursement of other expenses	Cost of collaboration and contract manufacturing	$	7.4	$	19.0	$	28.9

Amounts recognized in our Statements of Operations in connection with the Teva Collaboration Agreement are as follows:


	Statement of Operations Classification	Year Ended December 31,
		2020		2019		2018
Reimbursement of research and development expenses	Reduction of Research and development expense	$	109.4	$	122.9	$	129.5
Amounts recognized in connection with up-front and development milestone payments received	Other operating income	$	47.2	$	82.2	$	113.2

Schedules of concentration of risk, by risk factor

Sales to each of these customers as a percentage of the Company's total gross product revenue are as follows:


	Year Ended December 31,
	2020		2019		2018
Besse Medical, a subsidiary of AmerisourceBergen Corporation	51	%	57	%	56	%
McKesson Corporation	32	%	33	%	36	%

Sales related deductions activity

The following table summarizes the provisions, and credits/payments, for sales-related deductions for the years ended December 31, 2020, 2019, and 2018.


	Rebates, Chargebacks, and Discounts		Distribution- Related Fees		Other Sales- Related Deductions		Total
Balance as of December 31, 2017	$	29.9	$	34.1	$	21.3	$	85.3
Provisions	223.4		211.0		44.5		478.9
Credits/payments	(212.2)		(203.1)		(57.5)		(472.8)
Balance as of December 31, 2018	41.1		42.0		8.3		91.4
Provisions	423.2		242.9		61.8		727.9
Credits/payments	(384.0)		(238.5)		(40.7)		(663.2)
Balance as of December 31, 2019	80.3		46.4		29.4		156.1
Provisions	762.9		279.9		94.1		1,136.9
Credits/payments	(641.0)		(249.1)		(78.7)		(968.8)
Balance as of December 31, 2020	$	202.2	$	77.2	$	44.8	$	324.2