Product Sales (Tables)

3 Months Ended

Mar. 31, 2021

Revenues [Abstract]

Schedule of product sales

Net product sales consist of the following:

(In millions)	Three Months Ended March 31,
Net Product Sales in the United States	2021		2020
EYLEA®	$	1,347.0	$	1,172.0
Libtayo®	69.1		61.7
Praluent®	43.3		*
REGEN-COV™ (casirivimab with imdevimab)	262.2		—
Evkeeza™	0.5		—
ARCALYST®	2.2		3.0
	$	1,724.3	$	1,236.7
* Effective April 1, 2020, the Company became 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	Three Months Ended March 31,
(In millions)		2021		2020
Antibody:
Regeneron's share of profits in connection with commercialization of antibodies	Collaboration revenue	$	260.6	$	170.9
Reimbursement for manufacturing of commercial supplies	Collaboration revenue	$	105.6	$	80.1
Reimbursement of research and development expenses	Reduction of Research and development expense	$	30.1	$	77.6
Regeneron's obligation for its share of Sanofi research and development expenses	Research and development expense	$	(11.9)	$	(16.7)
Reimbursement of commercialization-related expenses	Reduction of Selling, general, and administrative expense	$	60.4	$	91.2
Immuno-oncology:
Regeneron's share of losses in connection with commercialization of Libtayo outside the United States	Collaboration revenue	$	(6.1)	$	(6.2)
Reimbursement for manufacturing of commercial supplies	Collaboration revenue	$	4.7	$	2.1
Reimbursement of research and development expenses	Reduction of Research and development expense	$	21.9	$	39.9
Reimbursement of commercialization-related expenses	Reduction of Selling, general, and administrative expense	$	18.5	$	10.4
Regeneron's obligation for Sanofi's share of Libtayo U.S. gross profits	Cost of goods sold	$	(30.4)	$	(26.8)
Amounts recognized in connection with up-front payments received	Other operating income	$	22.9	$	16.5

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

	Statement of Operations Classification	Three Months Ended March 31,
(In millions)		2021		2020
Regeneron's net profit in connection with commercialization of EYLEA outside the United States	Collaboration revenue	$	308.9	$	253.8
Reimbursement for manufacturing of commercial supplies	Collaboration revenue	$	13.9	$	27.6
Reimbursement of research and development expenses	Reduction of Research and development expense	$	10.8	$	12.0
Regeneron's obligation for its share of Bayer research and development expenses	Research and development expense	$	(12.5)	$	(8.1)

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

	Statement of Operations Classification	Three Months Ended March 31,
(In millions)		2021		2020
Reimbursement of research and development expenses	Reduction of Research and development expense	$	19.8	$	25.2
Amounts recognized in connection with up-front and development milestone payments received	Other operating income	$	12.2	$	16.6

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

	Statement of Operations Classification	Three Months Ended March 31,
(In millions)		2021		2020
Regeneron's share of gross profits in connection with sales of casirivimab with imdevimab	Collaboration revenue	$	66.8	—
Reimbursement of research and development expenses	Reduction of Research and development expense	$	86.8	—

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:

	Three Months Ended March 31,
	2021		2020
Besse Medical, a subsidiary of AmerisourceBergen Corporation	46	%	54	%
McKesson Corporation	29	%	36	%
U.S. Government (see Note 3)	13	%	—