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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Income (Loss) Before Income Taxes Summarized By Region | Total income (loss) before income taxes summarized by region were as follows (in thousands):
|  | Year Ended December 31,
|  | 2022 |  | 2021 |  | 2020
United States |  | $ | 248,918 |  |  | $ | 248,071 |  |  | $ | 130,427 |
Foreign |  | — |  |  | 447 |  |  | (1,125) |
Net income before income taxes |  | $ | 248,918 |  |  | $ | 248,518 |  |  | $ | 129,302 |
Schedule of Components of Deferred Tax Assets and Liabilities | Significant components of our net deferred tax assets/(liabilities) were as follows (in thousands).
|  | December 31,
|  | 2022 |  | 2021
Deferred tax assets: |  |  |  |
Net operating loss carryforwards |  | $ | 32,887 |  |  | $ | 42,182 |
Deferred revenue |  | 837 |  |  | 909 |
Research and development and orphan drug credits |  | 96,133 |  |  | 109,041 |
Share-based compensation |  | 6,353 |  |  | 1,814 |
ASC 842 lease liability |  | 2,480 |  |  | 600 |
Capitalized research expense |  | 10,168 |  |  | — |
Transaction related expense |  | 2,354 |  |  | — |
Inventory related reserves |  | 18,395 |  |  | — |
Interest expense limitation |  | — |  |  | — |
Other, net |  | 3,054 |  |  | 3,449 |
|  | $ | 172,661 |  |  | $ | 157,995 |
Valuation allowance for deferred tax assets |  | (707) |  |  | (500) |
Deferred tax assets, net of valuation allowance |  | $ | 171,954 |  |  | $ | 157,495 |
Deferred tax liabilities: |  |  |  |
Non-deductible book amortization |  | (115,578) |  |  |
Depreciation |  | (2,559) |  |  | (1,185) |
Convertible note |  | — |  |  | (17) |
ASC 842 right of use asset |  | (9,061) |  |  | (426) |
Other, net |  | (330) |  |  | (433) |
Total deferred tax liabilities |  | $ | (127,528) |  |  | $ | (2,061) |
Net deferred tax asset |  | $ | 44,426 |  |  | $ | 155,434 |
Schedule of Components of Income Tax Expense (Benefit) | Income tax (benefit) expense was comprised of the following components (in thousands):
|  | Year Ended December 31,
|  | 2022 |  | 2021 |  | 2020
Current - federal |  | $ | 6,157 |  |  | $ | (9) |  |  | $ | (11) |
Current - state |  | 2,525 |  |  | 1,251 |  |  | 228 |
Deferred - federal |  | 44,757 |  |  | (117,925) |  |  | — |
Deferred - state |  | (6,650) |  |  | (37,509) |  |  | — |
|  | $ | 46,789 |  |  | $ | (154,192) |  |  | $ | 217 |
Schedule of Reconciliation of Provision for Income taxes to Federal Income Tax Rate | The provision for income taxes on earnings subject to income taxes differs from the statutory federal income tax rate due to the following:
|  | Year Ended December 31,
|  | 2022 |  | 2021 |  | 2020
Federal income tax expense (benefit) at 21% |  | 21.00 | % |  | 21.00 | % |  | 21.00 | %
State income tax expense (benefit), net of federal income tax impact |  | 0.82 | % |  | 2.67 | % |  | (1.59) | %
(Decrease) increase in valuation allowance |  | (0.39) | % |  | (84.92) | % |  | 34.59 | %
Worthless stock deduction of international subsidiary |  | — | % |  | — | % |  | (52.07) | %
Foreign income subject to tax at other than federal statutory rate |  | — | % |  | 0.02 | % |  | 0.16 | %
Share-based compensation |  | (0.66) | % |  | (2.50) | % |  | (1.89) | %
Executive compensation limitation |  | 2.61 | % |  | 2.32 | % |  | 1.61 | %
Non-deductible expenses and other |  | (0.40) | % |  | 0.54 | % |  | (1.64) | %
Foreign-derived intangible income |  | (5.06) | % |  | (1.18) | % |  | — | %
Transaction costs |  | 0.88 | % |  | — | % |  | — | %
|  | 18.80 | % |  | (62.05) | % |  | 0.17 | %
Summary of Change in Unrecognized Tax Benefits | The following table summarizes the activity related to our unrecognized tax benefits (in thousands):
|  | Year Ended December 31,
|  | 2022 |  | 2021 |  | 2020
Gross unrecognized tax benefits at beginning of period |  | $ | 17,692 |  |  | $ | 19,167 |  |  | $ | 21,483 |
Increases in tax positions for prior years |  | — |  |  | 21 |  |  | 41 |
Decreases in tax positions for prior years and lapse in statue of limitations |  | (1,148) |  |  | (1,496) |  |  | (2,357) |
Increases in tax positions related to business acquisition |  | 2,151 |  |  | — |  |  | — |
Increases in tax positions for current year |  | 787 |  |  | — |  |  | — |
Gross unrecognized tax benefits at end of period |  | $ | 19,482 |  |  | $ | 17,692 |  |  | $ | 19,167 |

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