Collaboration, License, and Other Agreements (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

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

Schedule of accounts receivable and deferred revenue information

The following table summarizes contract balances in connection with the Company's Antibody Collaboration with Sanofi:


	As of December 31,
	2020		2019
Accounts receivable	$	407.7	$	272.7
Deferred revenue	$	347.7	$	328.8

The following table summarizes contract balances in connection with the Company's IO Collaboration with Sanofi:


	As of December 31,
	2020		2019
Accounts receivable, net	$	(6.5)	$	(16.7)
Deferred revenue	$	10.7	$	9.4
Other liabilities	$	280.9	$	558.6

Other liabilities include up-front payments received from Sanofi for which recognition has been deferred.

The following table summarizes contract balances in connection with our Bayer EYLEA collaboration:


	As of December 31,
	2020		2019
Accounts receivable - other	$	336.2	$	311.6
Deferred revenue	$	99.7	$	123.0

The following table summarizes contract balances in connection with the Teva Collaboration Agreement:


	As of December 31,
	2020		2019
Accounts receivable - other	$	27.7	$	21.2
Other liabilities	$	66.8	$	114.4