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Collaboration Agreements and Revenues (Tables)

12 Months Ended

Dec. 31, 2019

Transaction Price Related to Consideration Received and Accounts Receivable Allocated to Performance Obligations along with Associated Deferred Revenue and Product Revenue Net

Product Revenue, Net

	Years Ended December 31,
	2019			2018
	(dollars in thousands)
Product revenue, net:
API product	$	(36,324	)	$	64,776
Drug product
Gross revenue		2,803			—
Price adjustment		(936	)		—
Sales rebates and other discounts		(167	)		—
Drug product revenue, net		1,700			—
Total product revenue, net	$	(34,624	)	$	64,776

Japan [Member]

Summary of Revenue Recognized under Agreement

Amounts recognized as revenue under the Japan Agreement with Astellas were as follows (in thousands):

		Years Ended December 31,
Agreement	Performance Obligation	2019		2018		2017
Japan	License revenue	$	11,935	$	14,323	$	—
	Development revenue	$	1,222	$	2,400	$	1,588

Transaction Price Related to Consideration Received and Accounts Receivable Allocated to Performance Obligations along with Associated Deferred Revenue and Product Revenue Net

The transaction price related to consideration received and accounts receivable has been allocated to each of the following performance obligations under the Japan Agreement, along with any associated deferred revenue as follows (in thousands):

Japan Agreement	Cumulative Revenue Through December 31, 2019		Deferred Revenue at December 31, 2019		Total Consideration Through December 31, 2019
License	$	86,024	$	—	$	86,024
Development revenue		15,130		375		15,505
Total license and development revenue	$	101,154	$	375	$	101,529

Europe [Member]

Summary of Revenue Recognized under Agreement

Amounts recognized as revenue under the Europe Agreement with Astellas were as follows (in thousands):

		Years Ended December 31,
Agreement	Performance Obligation	2019		2018		2017
Europe	License revenue	$	117,470	$	—	$	—
	Development revenue	$	28,172	$	18,503	$	18,523

Transaction Price Related to Consideration Received and Accounts Receivable Allocated to Performance Obligations along with Associated Deferred Revenue and Product Revenue Net

The transaction price related to consideration received and accounts receivable has been allocated to each of the following performance obligations under the Europe Agreement with Astellas, along with any associated deferred revenue as follows (in thousands):

Europe Agreement	Cumulative Revenue Through December 31, 2019		Deferred Revenue at December 31, 2019			Total Consideration Through December 31, 2019
License	$	487,951	$	—		$	487,951
Development revenue		231,008		4,790			235,798
Total license and development revenue	$	718,959	$	4,790	*	$	723,749

Contract assets and liabilities related to rights and obligations in the same contract are recorded net on the condensed consolidated balance sheets. As of December 31, 2019, prepaid expenses and other current assets included a net unbilled contract asset of $125.2 million related to the Europe Agreement, which represents the net of the above-mentioned unbilled contract asset of $130.0 million, and $4.8 million of deferred revenue presented above.

U.S./RoW and China [Member]

Summary of Revenue Recognized under Agreement

Amounts recognized as revenue under the U.S./RoW and China Agreements with AstraZeneca were as follows (in thousands):

		Years Ended December 31,
Agreement	Performance Obligation	2019		2018		2017
U.S. / RoW and China	License revenue	$	47,681	$	7,946	$	9,933
	Development revenue		84,629		104,970		100,928
	China performance obligation	$	90	$	—	$	—

Transaction Price Related to Consideration Received and Accounts Receivable Allocated to Performance Obligations along with Associated Deferred Revenue and Product Revenue Net

The transaction price related to consideration received and accounts receivable has been allocated to each of the following performance obligations under the U.S./RoW Agreement and China Agreement, along with any associated deferred revenue as follows (in thousands):

U.S. / RoW and China Agreements	Cumulative Revenue Through December 31, 2019		Deferred Revenue at December 31, 2019			Total Consideration Through December 31, 2019
License	$	341,844	$	—		$	341,844
Co-development, information sharing & committee services		493,266		8,452			501,718
China performance obligation		90		140,872			140,962
Total license and development revenue	$	835,200	$	149,324	*	$	984,524

Contract assets and liabilities related to rights and obligations in the same contract are recorded net on the condensed consolidated balance sheets. As of December 31, 2019, long-term deferred revenue included $99.3 million related to the U.S./RoW and China Agreement, which represents the net of $149.3 million of deferred revenue presented above and the above-mentioned $50.0 million unbilled contract asset.