CONSOLIDATED ENTITIES AND ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2022

Consolidated Entities and Acquisitions [Line Items]

Pro Forma Information

The following table presents certain unaudited pro-forma financial information for the years ended December 31, 2022 and 2021 as if the consolidation of Entasis and La Jolla occurred on January 1, 2021. The unaudited pro forma financial information is presented for informational purposes only, and is not indicative of the results of operations that would have been achieved if the acquisitions had taken place on January 1, 2021, or of results that may occur in the future. The unaudited pro forma financial information combines the historical results of the Entasis and La Jolla with the Company’s consolidated historical results and includes certain adjustments including, but not limited to, fair value adjustments to equity investments in Entasis’ common stock and warrants, fair value adjustments to inventory, amortization of intangible assets, and interest expense on deferred royalty obligations and acquisition-related costs.

	Year Ended December 31,
(In thousands)	2022		2021
Revenue	$	357,880	$	435,398
Net income	$	204,987	$	281,719
Net income attributable to Innoviva stockholders	$	214,390	$	197,535

Entasis Therapeutics Holdings Inc

Consolidated Entities and Acquisitions [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table represents the adjusted fair values of the assets acquired and liabilities assumed by us in the transaction:

(In thousands)	February 17, 2022
Cash and cash equivalents	$	23,070
Prepaid expenses		5,554
Other current assets		1,959
Property and equipment, net		185
Right-of-use assets		959
Goodwill		10,260
Intangible assets		107,500
Other assets		302
Total assets acquired	$	149,789
Accounts payable	$	1,583
Accrued personnel-related expenses		1,058
Other accrued liabilities		5,096
Deferred tax liabilities		7,336
Total liabilities assumed	$	15,073
Total assets acquired, net	$	134,716

La Jolla Pharmaceutical Company

Consolidated Entities and Acquisitions [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the adjusted allocation of the fair values assigned to the assets acquired and liabilities assumed as of the date of the acquisition:

(In thousands)	August 22, 2022
Cash and cash equivalents	$	47,415
Short-term marketable securities		471
Accounts receivable		5,876
Inventory		66,200
Prepaid expenses		1,261
Other current assets		907
Property and equipment, net		13
Right-of-use assets		226
Goodwill		16,453
Intangible assets		151,000
Other assets		710
Total assets acquired	$	290,532
Accounts payable	$	1,237
Deferred revenue		2,849
Other accrued liabilities		11,362
Other long-term liabilities		65,944
Deferred tax liabilities		2,581
Total liabilities assumed	$	83,973
Total assets acquired, net	$	206,559

Theravance Respiratory Company, LLC

Consolidated Entities and Acquisitions [Line Items]

Schedule of Balance Sheets and Income Statements of VIE

The summarized financial information for TRC as of December 31, 2021 and for the relevant periods through the sale date in 2022 are presented as follows:

Balance sheet

(In thousands)	December 31, 2021
Assets
Cash and cash equivalents	$	50,713
Receivables from collaborative arrangements		42,492
Prepaid expenses and other current assets		71
Equity and long-term investments		37,695
Total assets	$	130,971
Liabilities and LLC Members’ Equity
Current liabilities	$	252
LLC members’ equity		130,719
Total liabilities and LLC members’ equity	$	130,971

Income statements

	Year Ended December 31,
(In thousands)	2022 (1)			2021			2020
Royalty revenue	$	72,029		$	126,688		$	73,089
Revenue from collaborative arrangements		—			—			10,000
Total net revenue		72,029			126,688			83,089
Operating expenses		332			3,956			2,612
Income from operations		71,697			122,732			80,477
Other income, net		10			—			38
Realized loss		(39,386	)		—			—
Income tax expense, net		1			—			—
Changes in fair values of other equity and    long-term investments		(8,884	)		(1,541	)		1,147
Net income	$	23,438		$	121,191		$	81,662

(1) The year ended December 31, 2022 represents the period from January 1, 2022 to July 20, 2022, the date of the sale of our ownership interest in TRC.