XML 17 R4.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Total revenues $ 325,719 $ 231,353 $ 590,580 $ 427,232
Operating expenses        
Cost of sales 46,359 39,607 94,762 67,936
Amortization of intangibles 17,762 17,762 35,524 35,525
Research and development 17,543 21,038 32,342 40,149
Selling, general and administrative 41,614 35,711 83,976 70,845
Total operating expenses 123,278 114,118 246,604 214,455
Operating income 202,441 117,235 343,976 212,777
Other income (expense)        
Investment and other income, net 6,891 5,032 13,709 10,025
Interest expense (4,394) (4,524) (8,919) (9,031)
Income before income tax expense 204,938 117,743 348,766 213,771
Income tax expense 39,778 24,498 65,511 43,703
Net income $ 165,160 $ 93,245 $ 283,255 $ 170,068
Earnings per share        
Basic (usd per share) $ 1.36 $ 0.73 $ 2.32 $ 1.34
Diluted (usd per share) $ 1.33 $ 0.72 $ 2.26 $ 1.32
Weighted average common shares outstanding        
Basic (in shares) 121,343 127,116 122,274 127,029
Diluted (in shares) 124,158 129,222 125,452 129,097
Royalties        
Revenues        
Total revenues $ 205,639 $ 124,918 $ 373,831 $ 245,511
Product sales, net        
Revenues        
Total revenues 81,510 78,886 159,551 137,469
Revenues under collaborative agreements        
Revenues        
Total revenues $ 38,570 $ 27,549 $ 57,198 $ 44,252