Product Sales (Tables)

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Net product sales consist of the following:


(In millions)	Three Months Ended June 30,				Six Months Ended June 30,
Net Product Sales in the United States	2022		2021		2022		2021
EYLEA®	$	1,621.2	$	1,424.7	$	3,138.8	$	2,771.7
Libtayo®*	90.9		78.0		169.8		147.1
Praluent®	31.2		41.9		64.8		85.2
REGEN-COV®**	—		2,591.2		—		2,853.4
Evkeeza®	11.1		2.0		19.6		2.5
ARCALYST®***	—		—		—		2.2
	$	1,754.4	$	4,137.8	$	3,393.0	$	5,862.1

** 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.
*** 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.
* Prior to July 1, 2022, Regeneron recorded net product sales of Libtayo in the United States and Sanofi recorded net product sales of Libtayo outside the United States. Effective July 1, 2022, the Company will record global net product sales of Libtayo. 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 June 30,				Six Months Ended June 30,
(In millions)		2022		2021		2022		2021
Antibody:
Regeneron's share of profits in connection with commercialization of antibodies	Collaboration revenue	$	496.6	$	327.6	$	911.9	$	588.2
Sales-based milestone earned	Collaboration revenue	$	—	$	—	$	50.0	$	—
Reimbursement for manufacturing of commercial supplies	Collaboration revenue	$	145.5	$	110.9	$	306.3	$	216.5
Other	Collaboration revenue	$	28.9	$	—	$	28.9	$	—
Reimbursement of research and development expenses	Reduction of Research and development expense	$	52.7	$	46.5	$	89.2	$	77.1
Regeneron's obligation for its share of Sanofi research and development expenses	Research and development expense	$	(15.6)	$	(10.6)	$	(25.3)	$	(22.5)
Reimbursement of commercialization-related expenses	Reduction of Selling, general, and administrative expense	$	110.8	$	78.3	$	202.5	$	137.9

Immuno-oncology:
Regeneron's share of profits (losses) in connection with commercialization of Libtayo outside the United States	Collaboration revenue	$	3.9	$	(3.5)	$	6.7	$	(9.6)
Reimbursement for manufacturing of ex-U.S. commercial supplies	Collaboration revenue	$	2.6	$	2.7	$	4.6	$	7.4
Reimbursement of research and development expenses	Reduction of Research and development expense	$	21.2	$	22.5	$	42.7	$	44.4
Reimbursement of commercialization-related expenses	Reduction of Selling, general, and administrative expense	$	22.4	$	20.7	$	41.4	$	39.2
Regeneron's obligation for its share of Sanofi commercial expenses	Selling, general, and administrative expense	$	(10.7)	$	(10.9)	$	(19.9)	$	(18.6)
Regeneron's obligation for Sanofi's share of Libtayo U.S. gross profits	Cost of goods sold	$	(37.8)	$	(34.4)	$	(70.1)	$	(64.8)
Amounts recognized in connection with up-front payments received	Other operating income	$	17.0	$	20.7	$	35.1	$	43.6

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


	Statement of Operations Classification	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)		2022		2021		2022		2021
Regeneron's share of profits in connection with commercialization of EYLEA outside the United States	Collaboration revenue	$	339.7	$	335.4	$	678.1	$	644.3
Reimbursement for manufacturing of ex-U.S. commercial supplies	Collaboration revenue	$	17.8	$	13.7	$	42.8	$	27.6
One-time payment in connection with change in Japan arrangement	Collaboration revenue	$	—	$	—	$	21.9	$	—
Reimbursement of research and development expenses	Reduction of Research and development expense	$	9.8	$	9.9	$	20.9	$	20.7
Regeneron's obligation for its share of Bayer research and development expenses	Research and development expense	$	(6.9)	$	(10.9)	$	(17.7)	$	(23.4)

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


	Statement of Operations Classification	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)		2022		2021		2022		2021
Global gross profit payment from Roche in connection with sales of Ronapreve	Collaboration revenue	$	8.2	$	167.9	$	224.5	$	234.7

Schedules of sales to customers as percentage of total gross product revenue

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Besse Medical, a subsidiary of AmerisourceBergen Corporation	57	%	22	%	56	%	30	%
McKesson Corporation	28	%	14	%	29	%	19	%
U.S. government	—	%	57	%	—	%	43	%