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Revenues (Tables) | 12 Months Ended
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Jan. 03, 2025
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | Revenues consisted of the following (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Product revenues: |  |  |  |  |
Gross product revenues | $ | 2,518,246 |  |  | $ | 2,272,533 |  |  | $ | 1,951,169 |
Discounts and allowances | (708,851) |  |  | (643,654) |  |  | (549,926) |
Net product revenues | 1,809,395 |  |  | 1,628,879 |  |  | 1,401,243 |
Collaboration revenues: |  |  |  |  |
License revenues | 349,244 |  |  | 178,635 |  |  | 162,056 |
Collaboration services revenues | 10,062 |  |  | 22,694 |  |  | 47,763 |
Total collaboration revenues | 359,306 |  |  | 201,329 |  |  | 209,819 |
Total revenues | $ | 2,168,701 |  |  | $ | 1,830,208 |  |  | $ | 1,611,062 |
Net product revenues by product were as follows (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
CABOMETYX | $ | 1,798,237 |  |  | $ | 1,614,942 |  |  | $ | 1,375,909 |
COMETRIQ | 11,158 |  |  | 13,937 |  |  | 25,334 |
Net product revenues | $ | 1,809,395 |  |  | $ | 1,628,879 |  |  | $ | 1,401,243 |
Schedule of Concentration Risks | The percentage of total revenues by customer who individually accounted for 10% or more of our total revenues were as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Affiliates of Cencora, Inc. (formerly AmerisourceBergen Corporation) | 18 | % |  | 17 | % |  | 18 | %
Affiliates of CVS Health Corporation | 17 | % |  | 17 | % |  | 17 | %
Affiliates of McKesson Corporation | 16 | % |  | 17 | % |  | 17 | %
Ipsen Pharma SAS | 15 | % |  | 8 | % |  | 10 | %
Accredo Health, Incorporated | 11 | % |  | 12 | % |  | 10 | %
Affiliates of Optum Specialty Pharmacy | 9 | % |  | 10 | % |  | 10 | %
The percentage of trade receivables by customer who individually accounted for 10% or more of our trade receivables were as follows:
| December 31,
| 2024 |  | 2023
Affiliates of McKesson Corporation | 23 | % |  | 21 | %
Affiliates of CVS Health Corporation | 20 | % |  | 20 | %
Ipsen Pharma SAS | 18 | % |  | 19 | %
Affiliates of Cencora, Inc. (formerly AmerisourceBergen Corporation) | 17 | % |  | 17 | %
Cardinal Health, Inc. | 10 | % |  | 11 | %
Schedule of Revenues Disaggregated by Geographic Region | Total revenues by geographic region were as follows (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
U.S. | $ | 1,822,992 |  |  | $ | 1,645,749 |  |  | $ | 1,413,743 |
Europe | 318,633 |  |  | 144,969 |  |  | 168,592 |
Japan | 27,076 |  |  | 39,490 |  |  | 28,727 |
Total revenues | $ | 2,168,701 |  |  | $ | 1,830,208 |  |  | $ | 1,611,062 |
Schedule of Activities and Ending Reserve Balances for Significant Categories of Discounts and Allowances | The activities and ending reserve balances for each significant category of discounts and allowances (which constitute variable consideration) were as follows (in thousands):
| Chargebacks, Discounts for Prompt Payment and Other |  | Other Customer Credits/Fees and Co-pay Assistance |  | Rebates |  | Total
Balance at December 31, 2022 | $ | 26,881 |  |  | $ | 14,924 |  |  | $ | 35,426 |  |  | $ | 77,231 |
Provision related to sales made in: |  |  |  |  |  |  |
Current period | 419,975 |  |  | 56,349 |  |  | 170,788 |  |  | 647,112 |
Prior periods | 295 |  |  | (1,222) |  |  | (2,531) |  |  | (3,458) |
Payments and customer credits issued | (421,930) |  |  | (50,330) |  |  | (163,785) |  |  | (636,045) |
Balance at December 31, 2023 | 25,221 |  |  | 19,721 |  |  | 39,898 |  |  | 84,840 |
Provision related to sales made in: |  |  |  |  |  |  |
Current period | 470,103 |  |  | 63,354 |  |  | 179,297 |  |  | 712,754 |
Prior periods | (891) |  |  | (2,044) |  |  | (968) |  |  | (3,903) |
Payments and customer credits issued | (469,166) |  |  | (56,086) |  |  | (180,796) |  |  | (706,048) |
Balance at December 31, 2024 | $ | 25,267 |  |  | $ | 24,945 |  |  | $ | 37,431 |  |  | $ | 87,643 |
Schedule of Other Assets and Other Liabilities | Contract assets and liabilities were as follows (in thousands):
| December 31,
| 2024 |  | 2023
Contract assets(1) | $ | 369 |  |  | $ | 1,321 |
Contract liabilities: |  |  |
Current portion(2) | $ | 2,739 |  |  | $ | 5,406 |
Non-current portion(3) | 3,392 |  |  | 5,524 |
Total contract liabilities | $ | 6,131 |  |  | $ | 10,930 |
____________________ (1) Presented in right-of-use assets and other non-current assets in the accompanying Consolidated Balance Sheets. (2) Presented in other current liabilities in the accompanying Consolidated Balance Sheets. (3) Presented in other non-current liabilities in the accompanying Consolidated Balance Sheets.

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