Inventory (Notes)

6 Months Ended

Jun. 30, 2016

Inventories

Inventories consist of the following:



	June 30,		December 31,
	2016		2015
Raw materials	$	73,971	$	59,151
Work-in-process	165,869		132,068
Finished goods	14,421		11,197
Deferred costs	61,812		36,162
	$	316,073	$	238,578

Deferred costs represent the costs of product manufactured and shipped to the Company's collaborators for which recognition of revenue has been deferred. For the three months ended June 30, 2016 and 2015, cost of goods sold included inventory write-downs and reserves totaling $2.0 million and $6.4 million, respectively. For the six months ended June 30, 2016 and 2015, cost of goods sold included inventory write-downs and reserves totaling $6.3 million and $8.1 million, respectively.