Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Segment Reporting Information, by Segment

Net income for our segment was as follows (in thousands):


	Year Ended December 31,
	2024		2023		2022
Product revenues, net	$	3,618,888	$	3,165,168	$	2,746,897
Product royalty revenues	579,329		523,481		482,738
Milestone and contract revenues	43,000		7,000		165,000
Total revenues	4,241,217		3,695,649		3,394,635

Costs, expenses and other:
Cost of product revenues (including definite-lived intangible amortization)	312,068		254,990		206,997
Research and development - internal1	957,043		815,025		739,785
Research and development - external2	866,005		775,919		720,201
Other research and development3	783,800		36,650		125,950
Sales and marketing	945,428		876,703		770,141
General and administrative	296,729		284,590		231,999
Loss on change in fair value of acquisition-related contingent consideration	19,803		29,202		12,149
(Profit) and loss sharing under collaboration agreements	(1,025)		2,045		7,973
Other segment items4	28,751		22,926		238,780
Net income	$	32,615	$	597,599	$	340,660

1.Research and development - internal is comprised of internally generated costs such as salaries, travel, regulatory costs, lab costs, contracting, etc.

2.Research and development - external is comprised of specific program spend with external vendors (i.e. contract manufacturing organization, contract research organization and lab vendors for clinical, technical operations and toxicology services).

3.Other research and development is comprised of all other costs including certain one-time costs resulting from the acquisition of IPR&D assets and one-time development milestone expenses.

4.Other segment items is comprised of interest income, interest expense, realized and unrealized (gain) loss on equity investments, other, net, and provision for income taxes.