Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2011

Financial assets subject to fair value measurements (excluding restricted cash and cash equivalents (Alios))

	Fair Value Measurements as of December 31, 2011

			Fair Value Hierarchy
	Total		Level 1		Level 2		Level 3
	(in thousands)
Financial assets carried at fair value:
Cash equivalents:
Money market funds	$	222,225	$	222,225	$	—	$	—
Government-sponsored enterprise securities		113,285		113,285		—		—
Marketable securities:
U.S. Treasury securities		22,107		22,107		—		—
Government-sponsored enterprise securities		471,495		471,495		—		—
Restricted cash		34,090		34,090		—		—

Total	$	863,202	$	863,202	$	—	$	—

Reconciliation of financial liabilities measured at fair value using significant unobservable inputs

	Year Ended December 31, 2011

	(in thousands)
Balance, December 31, 2010	$	89,888
Change in fair value of derivative instruments		16,801
Redemption of the 2012 Notes and settlement of the liability related to the sale of milestone rights		(106,689	)

Balance, December 31, 2011	$	—

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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