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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - 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 $ 825,410 $ 712,029 $ 1,570,555 $ 1,360,862
OPERATING EXPENSES:        
Cost of sales 150,090 130,459 301,648 255,639
Research and development 161,308 183,787 320,039 388,774
Selling, general and administrative 232,279 263,032 438,395 488,938
Intangible asset amortization 4,846 14,299 9,693 28,597
Gain on sale of nonfinancial assets 0 0 0 (10,000)
Total operating expenses 548,523 591,577 1,069,775 1,151,948
INCOME FROM OPERATIONS 276,887 120,452 500,780 208,914
Interest income 18,827 19,785 37,840 39,150
Interest expense (2,679) (3,574) (5,542) (7,121)
Other income (expense), net 4,833 (4,527) 2,879 (3,260)
INCOME BEFORE INCOME TAXES 297,868 132,136 535,957 237,683
Provision for income taxes 57,336 24,962 109,739 41,847
NET INCOME $ 240,532 $ 107,174 $ 426,218 $ 195,836
EARNINGS PER SHARE, BASIC (in dollars per share) $ 1.25 $ 0.56 $ 2.23 $ 1.03
EARNINGS PER SHARE, DILUTED (in dollars per share) $ 1.23 $ 0.55 $ 2.19 $ 1.01
Weighted average common shares outstanding, basic (in shares) 191,907 190,114 191,440 189,490
Weighted average common shares outstanding, diluted (in shares) 197,091 200,505 196,643 200,137
COMPREHENSIVE INCOME $ 176,816 $ 135,019 $ 320,000 $ 251,423
Net product revenues        
REVENUES:        
Total revenues 812,982 702,129 1,547,626 1,339,944
Royalty and other revenues        
REVENUES:        
Total revenues $ 12,428 $ 9,900 $ 22,929 $ 20,918