Collaboration, License, and Other Agreements (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Collaborative Revenue

Net product sales consist of the following:

		Three Months Ended March 31,
(In millions)		2024		2023
EYLEA® HD	U.S.	$	200.0	$	—
EYLEA®	U.S.	1,201.6		1,433.8
Total EYLEA HD and EYLEA	U.S.	1,401.6		1,433.8
Libtayo®	U.S.	159.2		109.7
Libtayo	ROW(a)	104.7		67.2
Total Libtayo	Global	263.9		176.9
Praluent®	U.S.	70.0		40.2
Evkeeza®	U.S.	24.8		14.9
Inmazeb®	Global	1.0		2.2
		$	1,761.3	$	1,668.0
(a) Rest of world ("ROW")

Amounts recognized in the Company's Statements of Operations in connection with its Sanofi collaboration are as follows:

	Statement of Operations Classification	Three Months Ended March 31,
(In millions)		2024		2023
Regeneron's share of profits in connection with commercialization of antibodies	Collaboration revenue	$	804.0	$	636.5
Reimbursement for manufacturing of commercial supplies	Collaboration revenue	$	105.8	$	161.9
Regeneron's obligation for its share of Sanofi R&D expenses, net of reimbursement of R&D expenses	(R&D expense)	$	(18.6)	$	(26.4)
Reimbursement of commercialization-related expenses	Reduction of SG&A expense	$	139.5	$	117.6

Amounts recognized in the Company's Statements of Operations in connection with its Bayer collaboration are as follows:

	Statement of Operations Classification	Three Months Ended March 31,
(In millions)		2024		2023
Regeneron's share of profits in connection with commercialization of EYLEA 8 mg and EYLEA outside the United States	Collaboration revenue	$	333.9	$	331.6
Reimbursement for manufacturing of ex-U.S. commercial supplies	Collaboration revenue	$	22.1	$	25.3
Regeneron's obligation for its share of Bayer R&D expenses, net of reimbursement of R&D expenses	(R&D expense)	$	(8.7)	$	(13.4)

Amounts recognized in the Company's Statements of Operations in connection with its Roche collaboration are as follows:

	Statement of Operations Classification	Three Months Ended March 31,
(In millions)		2024		2023
Global gross profit payment from Roche in connection with sales of Ronapreve	Collaboration revenue	$	0.5	$	222.2

Schedule of Accounts Receivable and Deferred Revenue Information

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

	March 31,		December 31,
(In millions)	2024		2023
Accounts receivable, net	$	947.0	$	1,029.1
Deferred revenue	$	532.2	$	427.7

The following table summarizes contract balances in connection with the Company's Bayer collaboration:

	March 31,		December 31,
(In millions)	2024		2023
Accounts receivable, net	$	359.0	$	381.7
Deferred revenue	$	151.1	$	138.2

The following table summarizes contract balances in connection with the Company's Alnylam collaboration:

	March 31,		December 31,
(In millions)	2024		2023
Accrued expenses and other current liabilities	$	18.9	$	22.6

Schedule of Collaboration Expenses

Amounts recognized in the Company's Statements of Operations in connection with its Alnylam collaboration are as follows:

	Statement of Operations Classification	Three Months Ended March 31,
(In millions)		2024		2023
Regeneron's obligation for its share of Alnylam R&D expenses, net of reimbursement of R&D expenses	(R&D expense)	$	(17.5)	$	(21.3)