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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Net product sales $ 857,468 $ 737,562 $ 2,475,869 $ 1,939,954
Sanofi collaboration revenue 144,392 224,735 527,500 593,201
Bayer Collaboration Revenue 191,298 157,596 562,786 415,679
Other revenue 26,964 17,529 67,445 56,817
Total revenues 1,220,122 1,137,422 3,633,600 3,005,651
Expenses:        
Research and development 543,047 425,924 1,573,089 1,159,367
Selling, general, and administrative 270,045 209,993 851,760 543,572
Cost of goods sold 29,901 67,199 150,090 170,624
Cost of collaboration and contract manufacturing 14,327 41,884 74,923 111,254
Total expenses 857,320 745,000 2,649,862 1,984,817
Income from operations 362,802 392,422 983,738 1,020,834
Other income (expense):        
Investment income 3,301 2,140 8,351 3,973
Interest and other expense, net (222) (1,273) (3,801) (26,999)
Nonoperating Income (Expense) 3,079 867 4,550 (23,026)
Income before income taxes 365,881 393,289 988,288 997,808
Income tax expense (101,077) (182,891) (345,881) (516,746)
Net income $ 264,804 $ 210,398 $ 642,407 $ 481,062
Net income per share - basic $ 2.53 $ 2.04 $ 6.14 $ 4.68
Net income per share - diluted $ 2.27 $ 1.82 $ 5.51 $ 4.18
Weighted average shares outstanding - basic 104,833 103,348 104,586 102,825
Weighted average shares outstanding - diluted 116,466 115,944 116,567 115,144
Statements of Comprehensive Income        
Net income $ 264,804 $ 210,398 $ 642,407 $ 481,062
Other comprehensive income (loss):        
Unrealized loss on marketable securities, net of tax (8,103) (11,432) (11,471) (44,530)
Comprehensive income $ 256,701 $ 198,966 $ 630,936 $ 436,532