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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Total revenues $ 221,038 $ 152,365 $ 383,181 $ 269,644
Operating expenses        
Cost of sales 50,070 33,943 85,240 49,865
Amortization of intangibles 17,835 11,403 35,670 11,403
Research and development 19,727 15,483 37,706 27,336
Selling, general and administrative 38,948 57,476 76,305 71,310
Total operating expenses 126,580 118,305 234,921 159,914
Operating income 94,458 34,060 148,260 109,730
Other income (expense)        
Investment and other income (expense), net 3,192 (945) 6,171 (447)
Interest expense (4,494) (3,104) (9,037) (4,863)
Net income before income taxes 93,156 30,011 145,394 104,420
Income tax expense 18,402 7,326 31,025 21,627
Net income $ 74,754 $ 22,685 $ 114,369 $ 82,793
Earnings per share        
Basic (USD per share) $ 0.57 $ 0.16 $ 0.86 $ 0.60
Diluted (USD per share) $ 0.56 $ 0.16 $ 0.84 $ 0.58
Weighted average common shares outstanding        
Basic (shares) 131,730 137,937 133,369 137,798
Diluted (shares) 133,543 142,216 135,758 141,795
Royalties        
Revenues        
Total revenues $ 111,740 $ 85,340 $ 211,380 $ 154,945
Product sales, net        
Revenues        
Total revenues 73,889 46,300 134,683 68,440
Revenues under collaborative agreements        
Revenues        
Total revenues $ 35,409 $ 20,725 $ 37,118 $ 46,259