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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Total revenues $ 954,610 $ 911,397 $ 1,763,283 $ 1,644,632
Costs and expenses:        
Cost of product revenues (including definite-lived intangible amortization) 68,326 50,636 125,148 93,250
Research and development 400,750 347,196 807,391 700,569
Selling, general and administrative 283,929 253,277 599,535 462,861
Loss on change in fair value of acquisition-related contingent consideration 8,374 3,313 14,570 9,695
(Profit) and loss sharing under collaboration agreements (549) 2,544 (1,911) 7,286
Total costs and expenses 760,830 656,966 1,544,733 1,273,661
Income from operations 193,780 254,431 218,550 370,971
Interest income and other, net 42,668 522 75,541 1,782
Interest expense (655) (678) (1,124) (1,358)
Unrealized gain (loss) on long term investments 41,811 (24,897) 36,493 (71,482)
Income before provision for income taxes 277,604 229,378 329,460 299,913
Provision for income taxes 74,056 67,946 104,209 100,489
Net income $ 203,548 $ 161,432 $ 225,251 $ 199,424
Net income per share:        
Basic (in USD per share) $ 0.91 $ 0.73 $ 1.01 $ 0.90
Diluted (in USD per share) $ 0.90 $ 0.72 $ 1.00 $ 0.89
Shares used in computing net income per share:        
Basic (in shares) 223,248 221,660 223,104 221,493
Diluted (in shares) 225,649 223,661 225,541 223,277
Product revenues, net        
Revenues:        
Total revenues $ 827,005 $ 663,851 $ 1,520,242 $ 1,269,672
Product royalty revenues        
Revenues:        
Total revenues 127,605 117,546 243,041 239,960
Milestone and contract revenues        
Revenues:        
Total revenues $ 0 $ 130,000 $ 0 $ 135,000