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Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | Net income for our segment was as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Product revenues, net | $ | 1,059,414 |  |  | $ | 906,566 |  |  | $ | 1,981,688 |  |  | $ | 1,636,489 |
Product royalty revenues | 151,115 |  |  | 137,193 |  |  | 281,739 |  |  | 263,159 |
Milestone and contract revenues | 5,000 |  |  | — |  |  | 5,000 |  |  | 25,000 |
Total revenues | 1,215,529 |  |  | 1,043,759 |  |  | 2,268,427 |  |  | 1,924,648 |
Costs, expenses and other: |  |  |  |  |  |  |
Cost of product revenues (including definite-lived intangible amortization) | 78,766 |  |  | 76,634 |  |  | 151,954 |  |  | 137,590 |
Contract dispute settlement | (242,251) |  |  | — |  |  | (242,251) |  |  | — |
Research and development - internal 1 | 236,686 |  |  | 234,635 |  |  | 465,031 |  |  | 456,731 |
Research and development - external 2 | 245,681 |  |  | 223,944 |  |  | 439,115 |  |  | 430,108 |
Other research and development 3 | 12,550 |  |  | 679,801 |  |  | 28,050 |  |  | 680,801 |
Sales and marketing | 256,311 |  |  | 229,202 |  |  | 513,963 |  |  | 446,015 |
General and administrative | 74,711 |  |  | 76,780 |  |  | 142,750 |  |  | 160,223 |
Loss on change in fair value of acquisition-related contingent consideration | 22,761 |  |  | 893 |  |  | 34,333 |  |  | 437 |
(Profit) and loss sharing under collaboration agreements | — |  |  | — |  |  | — |  |  | (1,025) |
Other segment items 4 | 125,315 |  |  | (33,529) |  |  | 172,280 |  |  | (111,179) |
Net income (loss) | $ | 404,999 |  |  | $ | (444,601) |  |  | $ | 563,202 |  |  | $ | (275,053) |
1.Research and development - internal is comprised of internally generated costs such as salaries, travel, regulatory costs, lab costs, contracting, etc. 2.Research and development - external is comprised of specific program spend with external vendors (i.e. contract manufacturing organization, contract research organization and lab vendors for clinical, technical operations and toxicology services). 3.Other research and development is comprised of all other costs including certain one-time costs resulting from the acquisition of IPR&D assets and one-time development milestone expenses. 4.Other segment items is comprised of interest income, interest expense, realized and unrealized (gain) loss on equity investments, other, net, and provision for income taxes
Schedule of Revenue from External Customers by Geographic Areas | Total revenues by geographic region consisted of the following (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
United States | $ | 1,132,353 |  |  | $ | 989,029 |  |  | $ | 2,113,910 |  |  | $ | 1,817,193 |
Europe | 78,826 |  |  | 53,586 |  |  | 147,438 |  |  | 105,117 |
Other countries | 4,350 |  |  | 1,144 |  |  | 7,079 |  |  | 2,338 |
Total revenues | $ | 1,215,529 |  |  | $ | 1,043,759 |  |  | $ | 2,268,427 |  |  | $ | 1,924,648 |
Schedule of Long-Lived Assets by Geographic Areas | Property and equipment, net by geographic location was as follows (in thousands):
| June 30, 2025 |  | December 31, 2024
United States | $ | 474,384 |  |  | $ | 474,095 |
Switzerland | 310,206 |  |  | 277,623 |
Other countries | 13,953 |  |  | 11,693 |
Total property and equipment, net | $ | 798,543 |  |  | $ | 763,411 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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