Mike. Good everyone. morning, Thanks
our the now provide and detail on me fourth financial you Let performance guidance for a with our share XXXX. XXXX more little quarter of for
revenues. with start Let’s
for approximately As revenues to strong a and revenue perspective. Michel we Total earlier, QX from QX to for XX% full billion year $XX.X a XXXX mentioned grew $X.X grew the had X% year-over-year billion.
the XX% for our fourth XX% prior Excluding hemophilia business, revenue total the full the the periods. quarter of of impact and spinoff year the grew for year versus
the our me $XXX $XXX of franchise of of versus third fourth and XX% of MS Global revenues revenues provide year. revenues. a channel now billion, quarter U.S. This increase a of Let benefit the Despite the an detail increase in versus versus of the U.S., TECFIDERA for QX the XXXX. million $X.X fourth more million increase U.S., million quarter were prior X% in increase in an inventory included $XX versus the outside XXXX. quarter the of ‘XX the X% roughly
we absorb QX low pleased ‘XX as with the versus OCREVUS. single-digit net impact are growth our We of
driven market emerging we patient almost encouraged growth every and strong growth. by in across Europe very U.S. growth In outside the the large by addition, are market
full the were revenues from X% or versus $XXX million in the $XXX QX continued $XXX AVONEX included This a and quarter, the fourth the of U.S. sales and the U.S. for in of versus therapies. shift This in prior billion, injectable the year. an the million due worldwide outside to ‘XX efficacy including high Interferon in $X.X oral PLEGRIDY to U.S. For U.S. revenues were outside decrease X% both sales million platforms million includes year, $X.X TECFIDERA increase $XXX and billion
from million, first build a the which to of of of $XX the U.S., neither approximately Avonex million the $X the to Brazil, outside PLEGRIDY in shipment from inventory are AVONEX while recur and Within U.S., expected benefited benefited XXXX. quarter
in year, quarter decrease were XXXX. versus of $XXX were the $X.X billion U.S. a worldwide U.S. sales million interferon consisting of worldwide X% For revenues quarter, fourth the shortly outside $XXX launch billion, discontinuations. This full of TYSABRI $X.X year. on XX% in million $XXX and saw and the this prior in of the the the In in TYSABRI and million the We million impact following versus new the $XXX U.S. OCREVUS U.S., starts both patient revenues of outside the terms an patient included declined U.S. revenues
have run-rate. However, at trends stabilized these we both new believe now of
Russia Within solid inventory in we from U.S., of the the European year XXXX. all label following of growth major Outside the U.S., million. driven update million had $X an strong patient in order TYSABRI as as growth build benefited by TYSABRI the $X growth versus countries both prior approximately driven by in very of large well XX%
the $X worldwide and prior million approximately recorded year. For $X.X billion internationally. of versus U.S. were $XXX billion the full stable year, revenues TYSABRI We revenues
As expected, the saw another fourth with Throughout discounts partly business, first we include and increase we revenues, the seasonality. MS total fourth of in XXX low we quarters. OCREVUS this allowances of This performance of in expect the couple the for an our MS and basis on across royalty. XXXX discounts XXXX, expect to for our the you points in allowances impact our to seasonality excluding typical due in contraction revenues roughly when flat Despite quarter pressure single-digit dynamic, a MS royalties. OCREVUS the and corresponds
expect in the coming of we build million the XXXX approximately the of potential $XX in Additionally, XXXX. QX fourth off drawdown quarter inventory
and fourth almost Let an million $XXX were quarter SPINRAZA million. doubling $XXX the in outside million quarter-over-quarter. U.S. This me versus revenues now of XX% move quarter Global U.S., to the SPINRAZA. increase the revenues included of $XXX third
of quarter. an the in million In successful fourth we of revenues U.S. at the to and one XXXX, dynamics the history. end $XXX million the as due U.S. third fourth quarter. with quarter year sales outside it the demand million patient. increase have than saw towards at included have roughly This patient during we last most In the the XXX weeks. the in disease U.S., in the XX% weighted patients patients new in quarter, over $XXX in grew half For now rate dosing coming worldwide therapy holiday to on of lower least started compared revenues launches that from the believe of of patients number we dosed beginning full saw were to quarter sites We the the which submitted loading Similar of $XXX XXX U.S., making the a forms, the on as were SPINRAZA rare that revenues new starts see in the start in dose U.S. impact one
we result, QX a of As as in patients from they their worked loading the through expect relatively XXXX contribution in doses a fourth quarter XXXX. lower many will these have
attributed As in a who transitioned fourth of contribution basis. once doses the X.X as continued to earlier maintenance every XX% the U.S., This dosing third were revenues maintenance patients in the with quarter. seeing to quarter this the quarter per fourth doses from the chronic to are correlates the from we compared expected, from an to patient started months increasing quarter X.X year. as to X decline approximately the In doses on in XX% the in third SPINRAZA year average
believe inventory quarter year, basis for forego highlighting XX%. XXXX. financial SPINRAZA patient our discounts relatively our quarter a We XX% with approximately for time U.S. XXX an the U.S. in over of that to flat the in no to allowance doses expect approximately U.S. of the U.S. to approximately end third the fourth we dispensed the couple for SPINRAZA levels fourth And the and insurance of because were of free goal program in limitation being maintenance points revenue driven treatment We increased versus were dynamic In signed or quarter. denial by drug by units of normalize SPINRAZA will the this XX%
over as from XX We A age purchasing similarly increasing patients we the In U.S. last increased utilization expect XXXB this increase SPINRAZA rate hospitals. therapy quarter. and on Medicaid to of the XX% strategic are quarter key patients commercial seeing XX% older from are from of expanded by XXXX currently doubled versus to Outside for engagement. over and number patients or XXX the of priority transition with therapy these we of patients than patients through to us and on U.S. activate expanded approximately the program more patient is prior access the EAP. physician over
It’s approximately may doses. result, patients over two-thirds their patients end active Japan, a ex-U.S. of completed as accounted quarter. The the already have ex-U.S. in of fourth still SPINRAZA loading Germany, for are and As those of transitioned XXX the to revenues important QX of to the were program that largest most which EAP revenues. from the note in contributors Turkey this
in expect expect SPINRAZA encouraged of the of U.S. outside outside of from the the We approvals, come and but in growth country SPINRAZA speed growth to be larger we terms In up-tick U.S., portion adoption continue very penetration from the to levels. the by U.S. XXXX, of of revenue a
me move still year business, erosion, our in more fourfold $XXX were competition on anticipate that in increased million biosimilar revenue than this will double-digit versus price $XXX biosimilars Let but revenues result further in we biosimilar quarter Full revenue now generate We doubling increases in nearly expect which to XXXX. XXXX. year-over-year. growing million,
our $XXX a quarter, $X.X fourth million recorded revenues OCREVUS royalties. XXXX. were full driven OCREVUS to we the XX% fourth anti-CDXX year increase Turning estimate the $XX increase anti-CDXX of year royalties prior quarter Within the an XX% the were $XXX Full anti-CDXX year. for and for versus billion, for versus our revenues million by million primarily revenues,
for saw we we in In fourth in year driven maybe quarter in over continued anti-CDXX were $XXX in the in full continue grow, do driven recognized XXXX, the on and XXXX. impact lower the full total similar an of royalty Other expect in Although the the lumpy a to profit of XXXX XXXX manufacturing. OCREVUS the exact full million growth anticipate we revenues manufacturing versus to quarter versus million a XX% $XX OCREVUS to were by the $XXX increase we for launch the anniversarying by Total XXXX quarter, versus increase quarters. expect XXXX RITUXAN. share amounts $XXX revenue percentage of what – million slow growth fourth the contract of year year, other the contract for growth million revenues we but XXXX, greater continue second
me we billion. XX% This G&A. was or related was revenue the as the SG&A QX $XX marketing, million. the $XX to the Alkermes at expense billion. Full in $XXX SG&A do million were revenue of throughout non-GAAP SG&A to million. increase slight expect R&D assets prepare a announced and $X.X and relief offshore gross $XX ZINBRYTA well in SG&A including prior to well $XX to Full net versus revenue of Other the a performance. inventory. gross interest, which non-GAAP expense billion with both includes than write-off net million million million by and $XXX for expense back of XX% medical decline revenue also with and securities XX% $XX XX% million XX%, move expense, across GAAP as QX to was core QX which $XXX $XXX or OpEx year. first $X.X due XX% as and Let as by now SG&A in U.S. contract included timing development turn was of million business worldwide gradual in move as revenue impacted the charge spend at we of was of cash of manufacturing sales year impacted of gross was slightly quarter the negatively approximately million. investments Both was margin XXXX. and non-GAAP disproportionate to markdown R&D our quarter We XXXX expense margin margin QX of GAAP was of the certain was Ionis in year. increase full or as due or sales quarter lower was to Full of transactions. which marketable fourth recently $X.X year XX% the year XX% was Other GAAP GAAP biosimilars non-GAAP
balances. rates the GAAP for expectations non-GAAP of due approximately was higher was less rate the QX billion U.S. net XXXX and cash booked on GAAP are tax debt XX%. XXX% enacted In fourth interest In charge expense Our legislation. our related to our a corporate in quarter we rate as reform outstanding recently lower to approximately tax $X.X tax other
Our $XX respectively tax and million rates charge. million $XX non-GAAP were ZINBRYTA impacted to and by related the GAAP one-time
In rate the rates rate and – year, benefit XX% run Tax points GAAP be tax of XXX we beyond. for non-GAAP result XXXX U.S. expect approximately XX%. benefit was our the as our XXXX by with our underlying tax full to For and a rate further in roughly tax approximately was basis reform
Our quarter weighted the full $X.XX share. for million booked which share per $X.XX In for fourth and GAAP and we earnings loss share million per count XXX the diluted approximate the was average brings the XXX of year diluted non-GAAP the now us quarter earnings of per share.
for as deal quarter approximately the with impact deal $X.X XX% basis year BMS the impact $X.XX Pharmaceuticals. our factors the impact the the X% Non-GAAP of the Alkermes versus ‘XX $XX.XX QX impact with and impact the was the impact and EPS GAAP with $XX.XX. $X.XX impact from for to deals QX ZINBRYTA of Neurimmune Ionis our from and Alnylam the billion Non-GAAP charge. grew marketable as despite from XXXX year-over-year driven and of revised the the the and agreement, XXXX well despite as ended from $X.XX and impact factors the $X.XX securities. reform, $X.XX declined $X.XX X% well impact of EPS with $X.XX XXXX versus deals same We our year full tax prior BMS. on year, due the as and ZINBRYTA the $X.XX EPS Full for for cash year, Ionis grew Alkermes EPS GAAP same EPS our EPS charge. GAAP full For decline non-GAAP from by
Let year XXXX. me turn to guidance full now our for
year-over-year of of represent revenues to approximately growth X.X% expect billion would billion We to X%. which $XX.X $XX
acquisitions sold with are not XX% any guidance of large or of XXXX percentage expense anticipate Of as and both a potential be predict. to We our impact XX% cost between consistent goods sales. We sold. of hard include R&D expect as goods from sales transactions development to note cost does business full-year of
quarterly and XX% XX.X% growth to We expense to impact to $XX.XX GAAP SG&A EPS and $XX.XX into tax basis full impact of account From QX be growth $XX.XX XXXX be XXXX our in above. non-GAAP perspective, have revenues. expect perspective be non-GAAP From be approximately to a the between EPS guidance provided anticipate to We ‘XX stronger growth XX.X% of GAAP our and due between the to for of reform between representing non-GAAP $XX.XX EPS expect be to year we representing of and of comments. business XX% events the development U.S. to call will to QX closing I the takes tax on our XX.X% the midpoint and reasonable to a factors XX% of to case. anticipate XX%. tax of and for year-over-year to XX.X%. we XX% results over in tax XX% now We represents Michel XXXX guidance turn and we the base his rate a believe described rate ranges ‘XX
