Product Sales (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Net product sales consist of the following:


(In millions)	Year Ended December 31,
Net Product Sales in the United States	2021			2020			2019
EYLEA®	$	5,792.3		$	4,947.2		$	4,644.2
Libtayo®	306.3			270.7			175.7
Praluent®	170.0			150.9		*	*
REGEN-COV***	5,828.0			185.7			—
Evkeeza®	18.4			—			—
ARCALYST®	2.2		**	13.1			14.5
	$	12,117.2		$	5,567.6		$	4,834.4

* 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. Previously, Sanofi recorded net product sales of Praluent in the United States. See Note 3 for further details.
** Effective April 1, 2021, Kiniksa records net product sales of ARCALYST in the United States. Previously, the Company recorded net product sales of ARCALYST in the United States.
*** Net product sales of REGEN-COV in the United States relate to product sold in connection with our agreements with the U.S. government. 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,
(In millions)		2021		2020		2019
Antibody:
Regeneron's share of profits in connection with commercialization of antibodies	Sanofi collaboration revenue	$	1,363.0	$	785.2	$	209.3
Sales-based milestones earned	Sanofi collaboration revenue	$	50.0	$	50.0	—
Reimbursement for manufacturing of commercial supplies	Sanofi collaboration revenue	$	488.8	$	368.0	$	216.0
Reimbursement of research and development expenses	Reduction of Research and development expense	$	175.9	$	226.7	$	277.7
Regeneron's obligation for its share of Sanofi research and development expenses	Research and development expense	$	(46.7)	$	(77.6)	$	(46.0)
Reimbursement of commercialization-related expenses	Reduction of Selling, general, and administrative expense	$	320.5	$	359.4	$	479.9

Immuno-oncology:
Regeneron's share of losses in connection with commercialization of Libtayo outside the United States	Sanofi collaboration revenue	$	(13.6)	$	(25.7)	$	(21.7)
Reimbursement for manufacturing of commercial supplies	Sanofi collaboration revenue	$	14.0	$	8.9	—
Reimbursement of research and development expenses	Reduction of Research and development expense	$	85.1	$	166.2	$	163.0
Reimbursement of commercialization-related expenses	Reduction of Selling, general, and administrative expense	$	89.6	$	64.7	$	10.3
Regeneron's obligation for its share of Sanofi commercial expenses	Selling, general, and administrative expense	$	(36.3)	$	(22.4)	$	(15.4)
Regeneron's obligation for Sanofi's share of Libtayo U.S. gross profits	Cost of goods sold	$	(133.0)	$	(119.1)	$	(78.2)
Amounts recognized in connection with up-front payments received	Other operating income	$	6.1	$	210.6	$	92.7

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


	Statement of Operations Classification	Year Ended December 31,
(In millions)		2021		2020		2019
Regeneron's net profit in connection with commercialization of EYLEA outside the United States	Other collaboration revenue	$	1,349.2	$	1,107.9	$	1,091.4
Reimbursement for manufacturing of commercial supplies	Other collaboration revenue	$	60.1	$	78.2	$	54.2
Reimbursement of development expenses	Reduction of Research and development expense	$	46.1	$	46.7	$	23.0
Regeneron's obligation for its share of Bayer research and development expenses	Research and development expense	$	(40.9)	$	(35.8)	$	(20.1)

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,
(In millions)		2021		2020		2019
Reimbursement of research and development expenses	Reduction of Research and development expense	$	42.4	$	109.4	$	122.9
Amounts recognized in connection with up-front and development milestone payments received	Other operating income	$	26.2	$	47.2	$	82.2

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


	Statement of Operations Classification	Year Ended December 31,
(In millions)		2021		2020
Global gross profit true-up payment from Roche in connection with sales of casirivimab and imdevimab	Other collaboration revenue	$	361.8	—
Reimbursement of research and development expenses	Reduction of Research and development expense	$	128.1	$	78.5
Global gross profit true-up payment to Roche in connection with sales of casirivimab and imdevimab	Cost of goods sold	$	259.6	—

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,
	2021		2020		2019
Besse Medical, a subsidiary of AmerisourceBergen Corporation	30	%	51	%	57	%
McKesson Corporation	18	%	32	%	33	%
U.S. government	43	%	*		—

* Sales to the U.S. government represented less than 10% of total gross product revenue during the period

Sales related deductions activity

The following table summarizes the provisions, and credits/payments, for sales-related deductions.


(In millions)	Rebates, Chargebacks, and Discounts		Distribution- Related Fees		Other Sales- Related Deductions		Total
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
Provisions	1,047.1		363.6		150.4		1,561.1
Credits/payments	(1,034.7)		(360.8)		(127.6)		(1,523.1)
Balance as of December 31, 2021	$	214.6	$	80.0	$	67.6	$	362.2