XML 27 R55.htm IDEA: XBRL DOCUMENT v2.4.0.8
Collaborative Arrangements (Details) (USD $)
3 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended
Dec. 31, 2013
Sep. 30, 2013
Jun. 30, 2013
Mar. 31, 2013
Dec. 31, 2012
Sep. 30, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2013
Janssen
Sep. 30, 2011
Janssen
Mar. 31, 2011
Janssen
Dec. 31, 2013
Janssen
Dec. 31, 2012
Janssen
Dec. 31, 2011
Janssen
Dec. 31, 2006
Janssen
Dec. 31, 2011
Bupa Home Healthcare Limited
Sep. 30, 2009
Bupa Home Healthcare Limited
Dec. 31, 2012
Bupa Home Healthcare Limited
Dec. 31, 2011
Bupa Home Healthcare Limited
Apr. 30, 2011
Cystic Fibrosis Foundation Therapeutics Incorporated
Dec. 31, 2013
Cystic Fibrosis Foundation Therapeutics Incorporated
payment
Dec. 31, 2012
Cystic Fibrosis Foundation Therapeutics Incorporated
Dec. 31, 2011
Cystic Fibrosis Foundation Therapeutics Incorporated
Dec. 31, 2006
Cystic Fibrosis Foundation Therapeutics Incorporated
Jun. 30, 2011
Alios BioPharma, Inc
Dec. 31, 2013
Alios BioPharma, Inc
lines
Dec. 31, 2012
Alios BioPharma, Inc
Dec. 31, 2011
Alios BioPharma, Inc
Dec. 31, 2013
Research and Development Arrangement
Alios BioPharma, Inc
Dec. 31, 2013
Research and Development Arrangement
Alios BioPharma, Inc
Schedule of Collaborative Arrangements                                                                  
Drug development costs to be paid by collaborator (as a percent)                             50.00%                                    
Tiered royalty average range, as a percentage of net sales in the Janssen territories                             20.00%                                    
Up-front license payment                                   $ 165,000,000                              
Deferred revenue related to up-front license payment                       5,000,000     5,000,000 32,100,000                                  
Total contingent milestone payments earned                             350,000,000                                    
Milestone payment earned pursuant to the collaborative agreement                         200,000,000 50,000,000                                      
Royalty revenues 36,887,000 27,012,000 49,120,000 43,573,000 43,451,000 25,586,000 33,480,000 38,981,000 156,592,000 141,498,000 50,015,000       130,724,000 117,592,000 20,289,000                                
Collaborative revenues:                                                                  
Up-front and amendment payments revenues                             190,345,000 12,428,000 12,428,000       12,744,000 38,232,000                      
Milestone revenues                             0 0 250,000,000       485,000 68,515,000   9,300,000         60,000,000        
Net reimbursement (payment) for telaprevir development costs                             2,793,000 (3,507,000) (8,418,000)                                
Reimbursement for manufacturing services                             10,299,000 7,257,000 20,383,000       5,650,000 14,928,000                      
Collaborative revenues 185,448,000 8,035,000 6,841,000 17,414,000 9,234,000 6,919,000 11,552,000 24,381,000 217,738,000 52,086,000 409,722,000 182,400,000     203,437,000 16,178,000 274,393,000       18,879,000 121,675,000   14,300,000 17,000,000 13,700,000              
Total revenues 351,157,000 221,700,000 310,750,000 328,368,000 333,994,000 336,006,000 418,305,000 438,737,000 1,211,975,000 1,527,042,000 1,410,626,000       334,161,000 133,770,000 294,682,000                                
License fee paid upon amendment of agreement                       152,000,000               105,000,000                          
Milestone payment received                                     65,000,000               1,500,000            
Deferred revenue related to up-front license payment                       5,000,000     5,000,000 32,100,000                                  
Collaborative funding                                             75,000,000                    
Number of years over which funding will be made (in years)                                             5 years                    
Number of commercial milestone payments for achievement of certain sales levels for corrector compound such as VX-809 or VX-661 (in payments)                                               2                  
Up-front payment                                                       60,000,000          
Milestone payments                             0 0 250,000,000       485,000 68,515,000   9,300,000         60,000,000        
Development milestone payments, maximum                                                         312,500,000        
Commercial milestone payments, maximum                                                       750,000,000          
Notice period for termination of contract due to technical failure (in days)                                                       30 days          
Notice period for termination of contract after completion of clinical trials (in days)                                                       60 days          
Latest expiration period for royalty obligation after first commercial sale in country unless contract is terminated earlier (in years)                                                       10 years          
Intangible asset impairment charges 250,600,000 0 0 412,900,000 0 0 0 0 663,500,000 0 105,800,000                                         250,600,000 250,600,000
Change in deferred income taxes                                                                 102,100,000
Deconsolidation, Gain (Loss), Amount                                                                 68,200,000
Collaborative Arrangements, Upfront License Fees and Milestone Payments                                                                 120,000,000
Noncontrolling Interest (Alios)                                                                  
Number of lines on balance sheet where noncontrolling interest is reported (lines)                                                         2        
Loss before provision for (benefit from) income taxes                                                         283,747,000 20,044,000 9,536,000    
Decrease (increase) in fair value of contingent milestone and royalty payments                                                         124,920,000 (114,970,000) (69,950,000)    
Provision for (benefit from) income taxes (155,704,000) (751,000) (1,799,000) (130,313,000) (2,696,000) 21,355,000 20,063,000 32,000 (288,567,000) 38,754,000 19,266,000                                   (166,145,000) 39,029,000 48,809,000    
Net loss (income) attributable to noncontrolling interest (Alios) (228,834,000) (4,530,000) (4,547,000) (4,611,000) (1,928,000) 31,076,000 30,463,000 (3,714,000) (242,522,000) 55,897,000 11,605,000                                   242,522,000 (55,897,000) (11,605,000)    
Restricted cash and cash equivalents (Alios) 0 [1]       69,983,000 [1]       0 [1] 69,983,000 [1]                                       69,983,000      
Prepaid expenses and other current assets 23,836,000 [1]       24,673,000 [1]       23,836,000 [1] 24,673,000 [1]                                       672,000      
Property and equipment, net 696,911,000 [1]       433,609,000 [1]       696,911,000 [1] 433,609,000 [1]                                       1,728,000      
Intangible assets                                                           250,600,000 250,600,000    
Other assets 2,432,000 [1]       9,668,000 [1]       2,432,000 [1] 9,668,000 [1]                                       861,000      
Accounts payable 49,327,000 [1]       101,292,000 [1]       49,327,000 [1] 101,292,000 [1]                                       1,054,000      
Accrued expenses 271,077,000 [1]       264,884,000 [1]       271,077,000 [1] 264,884,000 [1]                                       6,099,000      
Income taxes payable (Alios) 0 [1]       715,000 [1]       0 [1] 715,000 [1]                                       715,000      
Deferred tax liability 0 [1]       280,367,000 [1]       0 [1] 280,367,000 [1]                                       152,781,000      
Other liabilities, excluding current portion 11,590,000 [1]       13,902,000 [1]       11,590,000 [1] 13,902,000 [1]                                       910,000      
Redeemable noncontrolling interest (Alios) 0 [1]       38,530,000 [1]       0 [1] 38,530,000 [1]                                       38,530,000      
Noncontrolling interest (Alios) 0 [1]       196,672,000 [1]       0 [1] 196,672,000 [1]                                       196,672,000      
Collaborative revenues $ 185,448,000 $ 8,035,000 $ 6,841,000 $ 17,414,000 $ 9,234,000 $ 6,919,000 $ 11,552,000 $ 24,381,000 $ 217,738,000 $ 52,086,000 $ 409,722,000 $ 182,400,000     $ 203,437,000 $ 16,178,000 $ 274,393,000       $ 18,879,000 $ 121,675,000   $ 14,300,000 $ 17,000,000 $ 13,700,000              
[1] Amounts as of December 31, 2012 include the assets and liabilities of Vertex’s variable interest entity (“VIE”), Alios BioPharma, Inc. (“Alios”). The Company deconsolidated Alios as of December 31, 2013. Vertex’s interests and obligations with respect to the VIE’s assets and liabilities are limited to those accorded to Vertex in its agreement with Alios. See Note B, "Collaborative Arrangements," to these consolidated financial statements for amounts.