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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Total revenues $ 1,043,759 $ 954,610 $ 1,924,648 $ 1,763,283
Costs, expenses and other:        
Cost of product revenues (including definite-lived intangible amortization) 76,634 68,326 137,590 125,148
Research and development 1,138,380 400,750 1,567,640 807,391
Selling, general and administrative 305,982 283,929 606,238 599,535
Loss on change in fair value of acquisition-related contingent consideration 893 8,374 437 14,570
(Profit) and loss sharing under collaboration agreements 0 (549) (1,025) (1,911)
Total costs, expenses and other 1,521,889 760,830 2,310,880 1,544,733
(Loss) income from operations (478,130) 193,780 (386,232) 218,550
Interest income and other, net 49,769 42,668 94,513 75,541
Interest expense (657) (655) (1,087) (1,124)
Realized and unrealized gain on equity investments 39,241 41,811 139,188 36,493
(Loss) income before provision for income taxes (389,777) 277,604 (153,618) 329,460
Provision for income taxes 54,824 74,056 121,435 104,209
Net (loss) income $ (444,601) $ 203,548 $ (275,053) $ 225,251
Net (loss) income per share:        
Basic (in USD per share) $ (2.04) $ 0.91 $ (1.24) $ 1.01
Diluted (in USD per share) $ (2.04) $ 0.90 $ (1.24) $ 1.00
Shares used in computing net (loss) income per share:        
Basic (in shares) 218,175 223,248 221,329 223,104
Diluted (in shares) 218,175 225,649 221,329 225,541
Product revenues, net        
Revenues:        
Total revenues $ 906,566 $ 827,005 $ 1,636,489 $ 1,520,242
Product royalty revenues        
Revenues:        
Total revenues 137,193 127,605 263,159 243,041
Milestone and contract revenues        
Revenues:        
Total revenues $ 0 $ 0 $ 25,000 $ 0