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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues:      
Net product sales $ 3,718,463 $ 3,338,390 $ 2,689,478
Sanofi collaboration revenue 877,193 658,665 758,873
Bayer collaboration revenue 938,052 744,270 580,488
Other revenue 338,519 119,102 74,889
Total revenues 5,872,227 4,860,427 4,103,728
Expenses:      
Research and development 2,075,142 2,052,295 1,620,577
Selling, general, and administrative 1,320,433 1,177,697 838,526
Cost of goods sold 202,507 194,624 241,702
Cost of collaboration and contract manufacturing 194,554 105,070 151,007
Total expenses 3,792,636 3,529,686 2,851,812
Income from operations 2,079,591 1,330,741 1,251,916
Other income (expense):      
Other income (expense), net 24,039 6,269 (12,578)
Interest expense, net (25,119) (7,195) (14,241)
Total other income (expense) (1,080) (926) (26,819)
Income before income taxes 2,078,511 1,329,815 1,225,097
Income tax expense (880,000) (434,293) (589,041)
Net income $ 1,198,511 $ 895,522 $ 636,056
Net income per share - basic $ 11.27 $ 8.55 $ 6.17
Net income per share - diluted $ 10.34 $ 7.70 $ 5.52
Weighted average shares outstanding - basic 106,338 104,719 103,061
Weighted average shares outstanding - diluted 115,954 116,367 115,230
Statements of Comprehensive Income      
Net income $ 1,198,511 $ 895,522 $ 636,056
Other comprehensive income (loss), net of tax:      
Unrealized (loss) gain on marketable securities 12,715 (21,412) (43,679)
Unrealized gain on cash flow hedges 765 0 0
Comprehensive income $ 1,211,991 $ 874,110 $ 592,377