EX-12.1 6 a2199831zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1

Ratio of Earnings to Fixed Charges

        Our consolidated ratios of earnings to fixed charges for each of the periods indicated are as follows:

 
  For the
Six Months
Ended
June 30,
2010
   
   
   
   
   
 
 
  For the Years Ended December 31,  
 
  2009   2008   2007   2006   2005  
 
  (dollars in thousands)
 

Fixed charges:

                                     

Interest expense

  $ 1   $   $ 1,025   $ 8,449   $ 11,270   $ 15,082  

Capitalized interest

    8,489     12,339     18,998     14,452     9,162     8,915  

Amortization of debt issuance costs

            3,393     3,698     4,208     4,556  

Portion of rents representative of the interest factor

    13,633     27,267     25,067     24,767     20,300     16,500  
                           
 

Total fixed charges

  $ 22,123   $ 39,606   $ 48,483   $ 51,366   $ 44,940   $ 45,053  
                           

Earnings:

                                     

Income (loss) before income taxes

  $ (200,473 ) $ 543,733   $ 625,536   $ 735,674   $ (52,678 ) $ 628,919  

Fixed charges per above less capitalized interest

    13,634     27,267     29,485     36,914     35,778     36,138  

Amortization of capitalized interest

    6,387     12,038     9,466     7,625     6,627     5,386  

Equity in losses (earnings) equity method investments

    1,567         (201 )   (7,398 )   (15,705 )   (151 )
                           
 

Total earnings, as adjusted

  $ (178,885 ) $ 583,038   $ 664,286   $ 772,815   $ (25,978 ) $ 670,292  
                           

Ratio of Earnings to Fixed Charges(1)

        14.7     13.7     15.0         14.9  

(1)
The ratio of earnings to fixed charges is not presented for the six months ended June 30, 2010 because in such period fixed charges exceeded earnings by $201.0 million primarily due to a charge of $175.0 million for the upfront disgorgement of past profits recorded in connection with the consent decree we received from the FDA. The ratio of earnings to fixed charges is not presented for the year ended December 31, 2006 because in such period fixed charges exceeded earnings by $70.9 million primarily due to a pre-tax charge of $219.2 million to write off the goodwill for our genetic testing business unit and a pre-tax charge for in-process research and development of $552.9 million incurred in connection with our acquisition of AnorMED, Inc.



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