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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Total revenues $ 1,137,871 $ 919,025 $ 3,062,519 $ 2,682,308
Costs, expenses and other:        
Cost of product revenues (including definite-lived intangible amortization) 85,993 60,091 223,583 185,239
Research and development 573,174 375,709 2,140,814 1,183,100
Selling, general and administrative 309,209 267,893 915,447 867,428
Loss (gain) on change in fair value of acquisition-related contingent consideration 23,410 (426) 23,847 14,144
Loss and (profit) sharing under collaboration agreements 0 1,053 (1,025) (858)
Total costs, expenses and other 991,786 704,320 3,302,666 2,249,053
Income (loss) from operations 146,085 214,705 (240,147) 433,255
Interest income and other, net 24,195 46,371 118,708 121,912
Interest expense (774) (623) (1,861) (1,747)
Realized and unrealized (loss) gain on equity investments (12,982) (26,654) 126,206 9,839
Income before provision for income taxes 156,524 233,799 2,906 563,259
Provision for income taxes 50,068 62,530 171,503 166,739
Net income (loss) $ 106,456 $ 171,269 $ (168,597) $ 396,520
Net income (loss) per share:        
Basic (in USD per share) $ 0.55 $ 0.76 $ (0.80) $ 1.77
Diluted (in USD per share) $ 0.54 $ 0.76 $ (0.80) $ 1.76
Shares used in computing net income (loss) per share:        
Basic (in shares) 192,629 224,078 211,763 223,428
Diluted (in shares) 195,838 226,167 211,763 225,756
Product revenues, net        
Revenues:        
Total revenues $ 962,992 $ 783,197 $ 2,599,481 $ 2,303,439
Product royalty revenues        
Revenues:        
Total revenues 156,879 130,828 420,038 373,869
Milestone and contract revenues        
Revenues:        
Total revenues $ 18,000 $ 5,000 $ 43,000 $ 5,000