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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Net product sales $ 924,133 $ 834,219 $ 1,782,378 $ 1,618,401
Sanofi collaboration revenue 222,128 163,414 432,495 383,108
Bayer Collaboration Revenue 210,355 191,896 404,294 371,488
Other revenue 113,500 23,100 169,940 40,481
Total revenues 1,470,116 1,212,629 2,789,107 2,413,478
Expenses:        
Research and development 509,975 559,930 1,017,410 1,030,042
Selling, general, and administrative 306,908 292,038 603,754 581,715
Cost of goods sold 42,133 41,247 103,386 120,189
Cost of collaboration and contract manufacturing 60,788 27,786 83,703 60,596
Total expenses 919,804 921,001 1,808,253 1,792,542
Income from operations 550,312 291,628 980,854 620,936
Other income (expense):        
Other income (expense), net (19,061) 1,879 (9,813) 5,362
Interest expense, net (5,401) (1,251) (12,902) (3,891)
Total other income (expense) (24,462) 628 (22,715) 1,471
Income before income taxes 525,850 292,256 958,139 622,407
Income tax expense (138,106) (96,038) (321,464) (244,804)
Net income $ 387,744 $ 196,218 $ 636,675 $ 377,603
Net income per share - basic $ 3.66 $ 1.88 $ 6.02 $ 3.61
Net income per share - diluted $ 3.34 $ 1.69 $ 5.51 $ 3.24
Weighted average shares outstanding - basic 106,034 104,633 105,804 104,462
Weighted average shares outstanding - diluted 116,137 116,231 115,607 116,617
Statements of Comprehensive Income        
Net income $ 387,744 $ 196,218 $ 636,675 $ 377,603
Other comprehensive income (loss), net of tax:        
Unrealized gain (loss) on marketable securities 8,204 840 15,160 (3,368)
Unrealized gain on cash flow hedges 28 0 28 0
Comprehensive income $ 395,976 $ 197,058 $ 651,863 $ 374,235