v3.25.1
Revenue Recognition
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition

3. Revenue Recognition

Net Revenue from Collaboration Arrangement

Net revenue recognized under our GSK Agreements was as follows:

 

 

 

Three Months Ended March 31,

 

(In thousands)

 

2025

 

 

2024

 

Royalties
   - RELVAR/BREO

 

$

50,890

 

 

$

52,138

 

Royalties
   - ANORO

 

 

10,373

 

 

 

9,733

 

Total royalties

 

 

61,263

 

 

 

61,871

 

Less: amortization of capitalized fees paid

 

 

(3,456

)

 

 

(3,456

)

Total net royalty revenue

 

$

57,807

 

 

$

58,415

 

 

Net Product Sales

Total net product sales was as follows:

 

 

Three Months Ended March 31,

 

(In thousands)

 

2025

 

 

2024

 

GIAPREZA®

 

$

18,273

 

 

$

12,081

 

XERAVA®

 

 

4,223

 

 

 

4,768

 

XACDURO®

 

 

7,783

 

 

 

2,235

 

    Total net product sales

 

$

30,279

 

 

$

19,084

 

 

We derived our net product sales:

•
approximately 87% from customers located in the U.S. and 13% from the rest of the world for the three months ended March 31, 2025; and
•
approximately 91% from customers located in the U.S. and 9% from the rest of the world for the three months ended March 31, 2024.

 

License Revenue

 

Refer to the out-license agreements with Zai Lab in Note 4, “License and Collaboration Arrangements”.