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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenue:      
Total revenue $ 331,339 $ 391,866 $ 336,794
Expenses:      
Selling, general and administrative 63,538 16,187 13,883
Research and development 41,432 576 1,788
Amortization of acquired intangible assets 5,581 0 0
Gain on sale of Theravance Respiratory Company, LLC ("TRC") (266,696) 0 0
Loss on extinguishment of debt 20,662 0 0
Changes in fair values of equity method investments, net 161,749 (84,392) (49,511)
Changes in fair value of other equity and long-term investments, net (8,462) (6,638) (766)
Interest and dividend income (6,369) (1,839) (1,524)
Interest expense 15,789 19,070 18,331
Other expense, net 3,373 3,626 348
Total expenses 44,390 (53,410) (17,451)
Income before income taxes 286,949 445,276 354,245
Income tax expense, net 66,687 76,439 60,431
Net income 220,262 368,837 293,814
Net loss attributable to noncontrolling interests 6,341 102,983 69,412
Net income attributable to Innoviva stockholders $ 213,921 $ 265,854 $ 224,402
Basic net income per share attributable to Innoviva stockholders $ 3.07 $ 3.24 $ 2.21
Diluted net income per share attributable to Innoviva stockholders $ 2.37 $ 2.87 $ 2.02
Shares used to compute Innoviva basic and diluted net income per share:      
Shares used to compute basic net income per share 69,644 82,062 101,320
Shares used to compute diluted net income per share 95,248 94,310 113,554
Royalty revenue from a related party      
Revenue:      
Total revenue $ 311,645 $ 391,866 $ 326,794
Revenue from collaborative arrangements      
Revenue:      
Total revenue 0 0 10,000
Net product sales      
Revenue:      
Total revenue 19,694 0 0
Expenses:      
Cost of products sold (inclusive of amortization of inventory fair value adjustments and excluding amortization of acquired intangible assets) $ 13,793 $ 0 $ 0