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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Total revenues $ 911,397 $ 705,709 $ 1,644,632 $ 1,310,427
Costs and expenses:        
Cost of product revenues (including definite-lived intangible amortization) 50,636 38,028 93,250 67,248
Research and development 347,196 343,511 700,569 650,407
Selling, general and administrative 253,277 168,859 462,861 322,654
Change in fair value of acquisition-related contingent consideration 3,313 4,632 9,695 10,158
Collaboration loss sharing 2,544 9,843 7,286 20,327
Total costs and expenses 656,966 564,873 1,273,661 1,070,794
Income from operations 254,431 140,836 370,971 239,633
Other income (expense), net 522 4,390 1,782 2,983
Interest expense (678) (358) (1,358) (717)
Unrealized (loss) gain on long term investments (24,897) 26,765 (71,482) (944)
Income before provision for income taxes 229,378 171,633 299,913 240,955
Provision for income taxes 67,946 22,177 100,489 37,964
Net income $ 161,432 $ 149,456 $ 199,424 $ 202,991
Net income per share:        
Basic $ 0.73 $ 0.68 $ 0.90 $ 0.92
Diluted $ 0.72 $ 0.67 $ 0.89 $ 0.91
Shares used in computing net income per share:        
Basic 221,660 220,083 221,493 219,942
Diluted 223,661 222,250 223,277 222,061
Product revenues, net        
Revenues:        
Total revenues $ 663,851 $ 575,150 $ 1,269,672 $ 1,079,961
Product royalty revenues        
Revenues:        
Total revenues 117,546 120,559 239,960 220,466
Milestone revenues        
Revenues:        
Total revenues $ 130,000 $ 10,000 $ 135,000 $ 10,000