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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, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Net product sales $ 957,367 $ 857,468 $ 2,739,745 $ 2,475,869
Sanofi collaboration revenue 245,175 144,392 677,670 527,500
Bayer Collaboration Revenue 236,625 191,298 640,919 562,786
Other revenue 61,506 26,964 231,446 67,445
Total revenues 1,500,673 1,220,122 4,289,780 3,633,600
Expenses:        
Research and development 529,749 543,047 1,547,159 1,573,089
Selling, general, and administrative 306,766 270,045 910,520 851,760
Cost of goods sold 46,388 29,901 149,774 150,090
Cost of collaboration and contract manufacturing 57,844 14,327 141,547 74,923
Total expenses 940,747 857,320 2,749,000 2,649,862
Income from operations 559,926 362,802 1,540,780 983,738
Other income (expense):        
Other income, net 11,861 3,575 2,048 8,937
Interest expense, net (6,182) (496) (19,084) (4,387)
Total other income (expense) 5,679 3,079 (17,036) 4,550
Income before income taxes 565,605 365,881 1,523,744 988,288
Income tax expense (177,288) (101,077) (498,752) (345,881)
Net income $ 388,317 $ 264,804 $ 1,024,992 $ 642,407
Net income per share - basic $ 3.64 $ 2.53 $ 9.66 $ 6.14
Net income per share - diluted $ 3.32 $ 2.27 $ 8.84 $ 5.51
Weighted average shares outstanding - basic 106,706 104,833 106,108 104,586
Weighted average shares outstanding - diluted 117,028 116,466 115,994 116,567
Statements of Comprehensive Income        
Net income $ 388,317 $ 264,804 $ 1,024,992 $ 642,407
Other comprehensive income (loss), net of tax:        
Unrealized gain (loss) on marketable securities 21,485 (8,103) 36,645 (11,471)
Unrealized gain on cash flow hedges 2 0 30 0
Comprehensive income $ 409,804 $ 256,701 $ 1,061,667 $ 630,936