Thanks, our quarter in Mike, with good billion, I'll of everyone. financial Total $X.X morning, performance revenues. for the second year-over-year. quarter starting were XXXX X% growing the review revenues second now
drawdown inventory of the 'XX an million me of Let second due saw business U.S., versus exchange second In revenues million. revenues this $XXX XXXX. decrease a billion X% the franchise XXXX, And of MS our million, revenues now on foreign $XXX versus royalties more outside million. TECFIDERA revenues MS our approximately and QX the but a quarter approximately down rates of quarter billion, OCREVUS product revenues. benefitted year. in were $X.X provide versus approximately royalties. Overall, delivered Global increase in MS prior 'XX prior $X.X revenues hedging. including MS an down including detail the X% Total in QX decrease changes of $XX royalties OCREVUS QX, by ex-U.S. XX% include to versus X% million of net we U.S., OCREVUS the were were US$XXX prior versus year X% of the year, $XX
experienced of also launch. OCREVUS final our quarter. U.S. to We of we timing quarter Both these due the believe TECFIDERA difficult comparisons second for the weigh the on performance the of factors
old new the building We prescriptions, and continue we on stabilization in of of growth quarter share XXXX. capable prescriptions see in TECFIDERA share of first to the trends saw
patient were just since U.S. of year highest the a QX over ago. at in TECFIDERA the starts 'XX OCREVUS, launch with New in level
market, addition, large has U.S., In market solid and outside growth in XX% the growth Japan across market TECFIDERA were performance by pleased over reached with where strong TECFIDERA routine emerging year-over-year now we share. patient very driven particularly strong each
expect the hedging. TYSABRI a million U.S. revenues second $XXX of million for $XX million quarter $XXX worldwide outside U.S. the XXXX. revenues outside prior For the revenues versus the changes the foreign balance million year evolving of in quarter, $XXX pressure the year, the closing prior U.S. due benefited decrease in In approximately the exchange X% by year, versus versus launch this we the to This OCREVUS. of some monitoring the rates growth patient due European of net of continued primarily Ex-U.S. we were TECFIDERA included TECFIDERA declined though markets. pricing are X% certain U.S., and in to
TYSABRI the decreased due due that of including encouraged OCREVUS to both this XXXX. U.S. Ex-U.S. a of the year in saw million by European decrease versus the in exchange hedging. was of million QX, the approximately QX, quarter emerging prior $XX patient rates, we was Outside saw this $XX foreign Overall, by rates, TYSABRI TYSABRI foreign inventory and prior net launch versus the and performance Ex-U.S., outside approximately stability year. markets U.S. are the changes with year in prior double-digit $XXX revenues markets. we Interferon TYSABRI in AVONEX benefited hedging. MS revenues total approximately We decrease revenues prior prescriptions. sales net benefited and X% In of the U.S., million $XXX versus PLEGRIDY $XXX in Interferon along volumes in all growth were both strong This prior during major year new both U.S., Interferon patients million in of versus the of year second TYSABRI dynamics. quarter, a versus as prescriptions changes in increased million revenues straight U.S. X% U.S. for quarter stable XXXX. versus and of impacted the a million by of exchange included second channel to $XX share
to build we as the benefit factors on year. be of in expect this is basis potential year-over-year less the channel with the if second We both move significant a throughout again half there year
second be the half Given trends to the of product anniversary on basis. XXXX a the with OCREVUS see, MS worldwide when combined expect we compared stable launch, revenue year-over-year we
the second continue quarter. our the second X.X pre-drug doses the to was In revenues to U.S., in quarter the SPINRAZA to progress program, in through as approximately million. the in now roughly million me growth U.S. quarter where in revenue approximately QX. representing on increase SPINRAZA. $XXX U.S. quarter the the the included the in doses this units in in first the per XX% saw and patients of decrease to the QX. U.S. XX% number outside the compared attributed Global In a of U.S., patient compared revenues first the U.S. U.S., XX% the to by approximately compared quarter second revenues including in doses first $XXX $XXX were of revenues reaching were In growth SPINRAZA outside of therapy were adults We This quarter, as the greater over dispensed increased as in million SPINRAZA second move representing XX% than revenues number to approximately quarter, XX% approximately This in maintenance Let continued quarter. compared end the exceeded same contributions maintenance is XX% increase as QX. adults from first a The of on therapy average U.S. for make to in of XX% XX% quarter, we
levels in patients relatively have benefited year We some QX. the insurance coverage have pre for on dispensing and quarter to were inventory ago, patients commercial believe versus a second product. allowing versus the proven some second flat we therapy, to both transition SPINRAZA we allowances As enter from today year from
significant and We very progress reached there that the are believe is in the in data XX% patients and of have of are note, adults We XX% SME number XX% now by to Of the patients all untreated continue a of infants, we highlighting XX% and from we encouraged estimate our adults. patients opportunity U.S. benefit approximately we're pediatric pediatric prevalent adults, X% that of SPINRAZA. approximately we could large of XX% indicates population of infants, adult the are making. believe
access free Assuming stability in SPINRAZA percentage drug prior adults, U.S. number second a continued in the reaching Outside and U.S., progress quarter the of similar commercial we of SPINRAZA increased XXXX. expect continued the approximately to there show standard and versus to Australia. compared almost with quarter, the patients programs. XX% revenues approximately from revenue in recorded still Italy, these the active quarter SPINRAZA Spain from second ex-U.S. Japan, Germany, coming Brazil, Turkey, over international revenues patients markets XXX of We've XX XX% are in and
new launches, markets. is U.S. than the continued we Asia-Pacific opportunity significant we believe international to in country not greater even the Latin American but SPINRAZA for momentum continue opportunity, just and ex-U.S. is as and of Europe in in We also the that there believe
by Let are Biogen the approximately led XX% increase me that share versus this leader the exceed biosimilars prior quarter which Italy estimate of $XXX XX,XXX estimate continues France quarter, to major generated in XX% FLIXABI receiving in year. versus Germany, currently business, revenue move launch more grew prior market and market in Norway countries we where Europe Denmark BENEPALI million share on across such all we be now XX%. XX% the market now to to biosimilars. patients BENEPALI We than as units estimate a UK, our markets. and and
the chain million may to since accrue We enter interruption. nearly global supply continuity XXX% be competitors we and delivered we the our anti-TNF supply, launch As doses biosimilar a advantage. have without believe more to aimed X market, an competitive a of maintain uninterrupted
well $X XXXX annual Looking the of purchase to pricing estimate potential revenues billion expect to the this October of that month product with moderate Last in as large our option we exercised second half is additional expected with in forward, offset positioned year. originaire growth volume be we in of we market pressure. Biologics. this representing the expect shares growth Europe, as a launch approximately We biosimilars. year to IMRALDI HUMIRA joint But Samsung for venture of our Samsung Biopis, in by
to value greater million We certain will close $XXX as profits intrinsic to in begin pay the will ownership expected XX.X%. of We Biopis Samsung share equity they to approximately point that which regulatory than increase this significantly the at and losses transaction the payment. our additional shares of expected our Biologics report our is anticipate half believe to Samsung XXXX, and conditions line. been of is approximately subject we've we in JV operating net the to second below This
OCREVUS greater royalties $XXX the driven to royalties. This includes as continue Turning to estimated $XXX by increase of 'XX revenues, than million anti-CDXX primarily year, for Total contract manufacturing. revenues QX in million doubling million $XXX second we we reported in from an our versus other second more QX, of were prior quarter. XX% versus quarter OCREVUS benefit
million is QX million. a roughly QX fourth to the we contribution second $XX improvement R&D payment versus the remaining a of to million XX%, an second discount compared our into which $XXX GAAP can years. P&L the non-GAAP expect investment difficult quarter amortized will was each million will as slight of Both also revenue last expense due as as timing deal of GAAP be at with of $XX $XXX lower the fair and be capitalized expense includes be market and to XX% the interest $XX effect be of comprised and the or holding million. and expense the include premium agreement. which $XX of discount of of $XXX similar and GAAP also the $XXX net revenue our difference couple million, million, for quarter. versus non-GAAP prepaid QX side year. in only second QX million QX as last $XXX other R&D well gross mark-to-market XX% the QX, revenues from Ionis, in of $XXX the the other In our upon amortized year. QX versus XX% of approximately of will which SG&A or the next expense, revenue $XXX was out the life of to Non-GAAP equity expense. for $XXX $XX GAAP other QX to included XX% Ionis were R&D period non-GAAP or margins was million the $XX in GAAP approximately GAAP and a and restrictions, in million. reported tax manufacturing. predict GAAP $XX the as Although expense million. quarter, net was expense quarter rate closing was reflect million XX%. contract R&D SG&A million of The certain million investment third rate tax of was approximately which was million XX% in R&D, QX, upfront of into quarter P&L between the was revenue remaining non-GAAP non-GAAP over GAAP approximately
with of generated ended to return operations in billion securities of collaboration in well share a ample will in $X.X due share business activity, $X.X X% brings of earnings outstanding. M&A impacted flows debt. and value agreement. versus from XX% share continue approximately count GAAP year, us share. price and billion in an last million $X.XX the quarter $XXX shareholders. last approximately quarter billion for we average quarter, per was capital We $XXX, million In cash our of billion development, earnings $X marketable an to second by meaningful cash as finished non-GAAP to and believe Our XXX the versus increase and have now previously -- year. and is QX we net earnings total We QX, shares we XXX we per Ionis per X.X the completing weighted approximately billion QX $X.XX repurchased for approximately of our per share, future have me, to $X.X which increase diluted average million $X.XX which $XXX We excuse announced execute as an shares diluted booked of million with at authorization, approximately share, in capacity repurchase shares to the We
We on will value creation. focused and to our disciplined in be continue approach
full Let for me updated year our XXXX. to guidance now turn
year-over-year risk in We represent which as of as low of business approximately X.X%. end well guidance X% pressure in billion $XX.X to uncertainty of to expect our emerging reflects US. MS potential inventory revenues including levels Europe pricing billion, channel will approximately The in our $XX growth to
be We a of margin consistent QX sales as percentage with to XXXX. expect gross
hard anticipate between from in between expense are both include GAAP a of any business large the and as development impact transactions guidance XX% now the does note, potential As half XX% of of and of sales R&D transactions or acquisitions R&D we predict. year, non-GAAP expense to sales. XX% not result business and first XX% development Of
XX% XX.X% rate tax and to expect well SG&A revenues. to be XX%. XXXX occurred that's approximately both the rate turn XX% the now growth EPS to so benefit of be representing XX% to tax between call This tax activities $XX.XX U.S. anticipate between and GAAP growth far of impact for our for We the continue XX% as of GAAP I'll to of and corporate of Michel anticipated in his year XXXX. of XX.X%. tax expense development non-GAAP the reform to versus the closing representing XX.X% as non-GAAP to to be XX.X% XXXX, reflects be diluted and We our business We to comments. over full back XX% to anticipate XXXX, for $XX.XX EPS $XX.XX, $XX.XX to diluted
