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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
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 2,606,848 1,627,594 1,585,936
Selling, general and administrative 1,242,157 1,161,293 1,002,140
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
Total costs, expenses and other 4,179,851 3,075,124 2,815,195
Income from operations 61,366 620,525 579,440
Interest income 128,710 158,414 40,451
Interest expense (2,280) (2,551) (2,666)
Realized and unrealized gain (loss) on equity investments 116,025 43,893 (87,590)
Interest income 12,809 13,934 (519)
Income before provision for income taxes 316,630 834,215 529,116
Provision for income taxes 284,015 236,616 188,456
Net income $ 32,615 $ 597,599 $ 340,660
Net income per share:      
Basic (in dollars per share) $ 0.16 $ 2.67 $ 1.53
Diluted (in dollars per share) $ 0.15 $ 2.65 $ 1.52
Shares used in computing net income per share:      
Basic (in shares) 207,110 223,628 222,004
Diluted (in shares) 210,530 225,928 223,958
Product revenues, net      
Revenues:      
Total revenues $ 3,618,888 $ 3,165,168 $ 2,746,897
Product royalty revenues      
Revenues:      
Total revenues 579,329 523,481 482,738
Milestone and contract revenues      
Revenues:      
Total revenues $ 43,000 $ 7,000 $ 165,000