OTHER BALANCE SHEET DETAILS (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
| Schedule of Inventory |
The components of inventory are summarized as follows: | | | | | | | | | | | | | As of December 31, | | (In thousands) | 2025 | | 2024 | | Raw materials | $ | 14,184 | | | $ | 23,965 | | | Work in process | 65,122 | | | 64,978 | | | Finished goods | 32,338 | | | 26,433 | | | Total inventory | $ | 111,644 | | | $ | 115,376 | |
|
| Schedule of Property, Plant and Equipment, Net |
Property, plant and equipment, net consisted of the following: | | | | | | | | | | | | | As of December 31, | | (In thousands) | 2025 | | 2024 | | Buildings | $ | 297,618 | | | $ | 294,508 | | | Leasehold improvements | 241,077 | | | 236,686 | | | Laboratory equipment | 140,943 | | | 121,957 | | | Manufacturing equipment | 48,935 | | | 49,062 | | | Computer equipment and software | 45,270 | | | 42,534 | | | Furniture and fixtures | 11,970 | | | 11,647 | | | Land | 9,080 | | | 9,080 | | | Construction in progress | 40,954 | | | 7,674 | | | 835,847 | | | 773,148 | | | Less: accumulated depreciation | (322,700) | | | (270,364) | | Total property, plant and equipment, net | $ | 513,147 | | | $ | 502,784 | |
|
| Schedule of Accrued Expenses |
Accrued expenses consisted of the following: | | | | | | | | | | | | | As of December 31, | | (In thousands) | 2025 | | 2024 | | Product rebates and discounts | $ | 400,147 | | | $ | 361,816 | | | Compensation and related | 257,197 | | | 214,399 | | Preclinical, clinical trial and manufacturing | 104,097 | | | 75,815 | | | Licensing and collaboration agreements | 258,856 | | | 92,313 | | | Consulting and professional services | 34,328 | | | 19,974 | | | Other | 25,572 | | | 29,375 | | Total accrued expenses | $ | 1,080,197 | | | $ | 793,692 | |
|
| Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash |
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within our consolidated balance sheets to the totals of these amounts shown in the consolidated statements of cash flows: | | | | | | | | | | | | | | | | | | | As of December 31, | | (In thousands) | 2025 | | 2024 | | 2023 | | Cash and cash equivalents | $ | 1,657,250 | | | $ | 966,428 | | | $ | 812,688 | | | Total restricted cash included in other assets | 1,557 | | | 2,224 | | | 2,196 | | | Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows | $ | 1,658,807 | | | $ | 968,652 | | | $ | 814,884 | |
|
| Schedule of Changes in Accumulated Other Comprehensive Loss |
The following table summarizes the changes in accumulated other comprehensive loss, by component:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | Loss on Investment in Joint Venture | | Defined Benefit Pension
Plans, Net of Tax | | Unrealized Gains (Losses) from Debt Securities | | Foreign Currency Translation
Adjustment | | Total Accumulated Other Comprehensive (Loss) Income | Balance as of December 31, 2023 | $ | (32,792) | | | $ | (2,753) | | | $ | 1,548 | | | $ | 10,622 | | | $ | (23,375) | | Other comprehensive (loss) income before reclassifications | — | | | (1,613) | | | 3 | | | (9,643) | | | (11,253) | | Amounts reclassified from other comprehensive (loss) income | — | | | 117 | | | (7) | | | — | | | 110 | | Net other comprehensive loss | — | | | (1,496) | | | (4) | | | (9,643) | | | (11,143) | | Balance as of December 31, 2024 | (32,792) | | | (4,249) | | | 1,544 | | | 979 | | | (34,518) | | Other comprehensive income before reclassifications | — | | | 531 | | | 3,353 | | | 11,624 | | | 15,508 | | Amounts reclassified from other comprehensive income | — | | | 450 | | | (1,537) | | | — | | | (1,087) | | Net other comprehensive income | — | | | 981 | | | 1,816 | | | 11,624 | | | 14,421 | | Balance as of December 31, 2025 | $ | (32,792) | | | $ | (3,268) | | | $ | 3,360 | | | $ | 12,603 | | | $ | (20,097) | |
|