v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Total revenues $ 1,674,039 $ 1,215,529 $ 2,946,715 $ 2,268,427
Costs, expenses and other:        
Cost of sales (including definite-lived intangible amortization) 104,957 78,766 209,480 151,954
Contract dispute settlement 0 (242,251) 0 (242,251)
Research and development 516,950 494,917 1,032,853 932,196
Selling, general and administrative 351,735 331,022 679,822 656,713
Asset impairment and related disposal costs 0 0 23,214 0
Loss on change in fair value of acquisition-related contingent consideration 2,499 22,761 2,331 34,333
Total costs, expenses and other 976,141 685,215 1,947,700 1,532,945
Income from operations 697,898 530,314 999,015 735,482
Interest income 38,118 25,136 71,805 48,065
Interest expense (582) (594) (1,151) (1,254)
Gain (loss) on equity investments 9,805 (4,151) 16,396 (5,494)
Other, net 6,275 7,307 9,049 15,403
Income before provision for income taxes 751,514 558,012 1,095,114 792,202
Provision for income taxes 165,909 153,013 206,179 229,000
Net income $ 585,605 $ 404,999 $ 888,935 $ 563,202
Net income per share:        
Basic (in dollars per share) $ 2.92 $ 2.09 $ 4.45 $ 2.91
Diluted (in dollars per share) $ 2.81 $ 2.04 $ 4.28 $ 2.84
Shares used in computing net income per share:        
Basic (in shares) 200,378 193,995 199,860 193,853
Diluted (in shares) 208,216 198,744 207,670 198,526
Net sales        
Revenues:        
Total revenues $ 1,488,149 $ 1,059,414 $ 2,592,633 $ 1,981,688
Product royalty revenues        
Revenues:        
Total revenues 174,690 151,115 325,882 281,739
Milestone and contract revenues        
Revenues:        
Total revenues $ 11,200 $ 5,000 $ 28,200 $ 5,000