BioMarin Pharmaceutical (BMRN) 10-Q 29 Apr 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 25, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	000-26727
Entity Registrant Name	BioMarin Pharmaceutical Inc
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	68-0397820
Entity Address, Address Line One	770 Lindaro Street
Entity Address, City or Town	San Rafael
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94901
City Area Code	415
Local Phone Number	506-6700
Title of 12(b) Security	Common Stock, par value $0.001
Trading Symbol	BMRN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		184,995,348
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001048477
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	[1]
Current assets:
Cash and cash equivalents	$ 605,440	$ 587,276
Short-term investments	450,798	426,599
Accounts receivable, net	430,147	373,399
Inventory	786,356	776,669
Other current assets	121,283	110,442
Total current assets	2,394,024	2,274,385
Noncurrent assets:
Long-term investments	462,827	507,793
Property, plant and equipment, net	1,039,544	1,035,461
Intangible assets, net	374,251	388,652
Goodwill	196,199	196,199
Deferred tax assets	1,446,676	1,449,075
Other assets	149,186	151,760
Total assets	6,062,707	6,003,325
Current liabilities:
Accounts payable and accrued liabilities	426,418	491,590
Short-term contingent consideration	64,000	48,232
Total current liabilities	490,418	539,822
Noncurrent liabilities:
Long-term convertible debt, net	1,080,061	1,079,077
Long-term contingent consideration	0	15,167
Other long-term liabilities	100,913	98,519
Total liabilities	1,671,392	1,732,585
Stockholders’ equity:
Common stock, $0.001 par value: 500,000,000 shares authorized; 184,901,764 and 183,912,514 shares issued and outstanding, respectively	185	184
Additional paid-in capital	5,206,287	5,191,502
Company common stock held by Nonqualified Deferred Compensation Plan (the NQDC)	(9,389)	(9,689)
Accumulated other comprehensive income (loss)	(877)	14,432
Accumulated deficit	(804,891)	(925,689)
Total stockholders’ equity	4,391,315	4,270,740	[2]
Total liabilities and stockholders’ equity	$ 6,062,707	$ 6,003,325
[1]	(1) December 31, 2021 balances were derived from the audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022.
[2]	The beginning balances for the three-month periods were derived from the audited Consolidated Financial Statements included in Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	184,901,764	183,912,514
Common stock, shares outstanding (in shares)	184,901,764	183,912,514

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
REVENUES:
Total revenues	$ 519,359	$ 486,030
OPERATING EXPENSES:
Cost of sales	116,965	120,166
Research and development	160,836	148,725
Selling, general and administrative	194,619	174,318
Intangible asset amortization and contingent consideration	17,612	17,735
Gain on sale of nonfinancial assets, net	(108,000)	0
Total operating expenses	382,032	460,944
INCOME FROM OPERATIONS	137,327	25,086
Interest income	1,820	2,439
Interest expense	(3,806)	(3,804)
Other expense, net	(1,154)	(493)
INCOME BEFORE INCOME TAXES	134,187	23,228
Provision for income taxes	13,389	5,857
NET INCOME	$ 120,798	$ 17,371
NET INCOME PER SHARE, BASIC (in dollars per share)	$ 0.66	$ 0.10
NET INCOME PER SHARE, DILUTED (in dollars per share)	$ 0.63	$ 0.09
Weighted average common shares outstanding, basic (in shares)	183,990	181,772
Weighted average common shares outstanding, diluted (in shares)	194,886	184,365
COMPREHENSIVE INCOME	$ 105,489	$ 38,514
Net product revenues
REVENUES:
Total revenues	505,525	467,769
Royalty and other revenues
REVENUES:
Total revenues	$ 13,834	$ 18,261

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands		Total		Common Stock	Additional Paid-in Capital	Company Stock Held By NQDC	Accumulated other comprehensive income (loss)	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2020	[1]			181,741
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances under equity incentive plans (in shares)				930
Ending balance (in shares) at Mar. 31, 2021				182,671
Beginning balance at Dec. 31, 2020	[1]	$ 4,106,002		$ 182	$ 4,993,407	$ (9,839)	$ (16,139)	$ (861,609)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances under equity incentive plans, net of tax				1	(29,916)
Stock-based compensation					47,409
Common stock held by the NQDC					(281)	281
Other comprehensive income (loss)							21,143
Net income		17,371						17,371
Ending balance at Mar. 31, 2021		4,162,010		$ 183	5,010,619	(9,558)	5,004	(844,238)
Beginning balance (in shares) at Dec. 31, 2021	[1]			183,913
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances under equity incentive plans (in shares)				989
Ending balance (in shares) at Mar. 31, 2022				184,902
Beginning balance at Dec. 31, 2021	[1]	4,270,740	[2]	$ 184	5,191,502	(9,689)	14,432	(925,689)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances under equity incentive plans, net of tax				1	(33,633)
Stock-based compensation					48,718
Common stock held by the NQDC					(300)	300
Other comprehensive income (loss)							(15,309)
Net income		120,798						120,798
Ending balance at Mar. 31, 2022		$ 4,391,315		$ 185	$ 5,206,287	$ (9,389)	$ (877)	$ (804,891)
[1]	The beginning balances for the three-month periods were derived from the audited Consolidated Financial Statements included in Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022.
[2]	(1) December 31, 2021 balances were derived from the audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 120,798	$ 17,371
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	27,343	27,983
Non-cash interest expense	1,033	1,043
Amortization of premium on investments	1,652	673
Stock-based compensation	47,833	49,503
Gain on sale of nonfinancial assets, net	(108,000)	0
Deferred income taxes	4,800	3,335
Unrealized foreign exchange (gain) loss	(6,887)	3,950
Non-cash changes in the fair value of contingent consideration	1,989	2,255
Other	700	(871)
Changes in operating assets and liabilities:
Accounts receivable, net	(54,813)	40,294
Inventory	1,125	(6,425)
Other current assets	(8,011)	42,784
Other assets	1,440	1,617
Accounts payable and accrued liabilities	(78,143)	(72,304)
Other long-term liabilities	1,710	2,304
Net cash (used in) provided by operating activities	(45,431)	113,512
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(28,817)	(25,507)
Maturities and sales of investments	155,818	194,637
Purchases of available-for-sale securities	(147,361)	(237,171)
Proceeds from sale of nonfinancial assets	110,000	0
Purchase of intangible assets	(1,858)	(2,747)
Net cash provided by (used in) investing activities	87,782	(70,788)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercises of awards under equity incentive plans	8,235	5,817
Taxes paid related to net share settlement of equity awards	(32,949)	(29,097)
Principal repayments of financing leases	(566)	(1,084)
Net cash used in financing activities	(25,280)	(24,364)
Effect of exchange rate changes on cash	1,093	(205)
NET INCREASE IN CASH AND CASH EQUIVALENTS	18,164	18,155
Cash and cash equivalents:
Beginning of period	587,276	649,158
End of period	605,440	667,313
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Cash paid for income taxes	1,316	2,998
Cash paid for interest	1,422	1,465
SUPPLEMENTAL CASH FLOW DISCLOSURES FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:
Decrease in accounts payable and accrued liabilities related to fixed assets	(2,481)	(12,795)
Increase (decrease) in accounts payable and accrued liabilities related to intangible assets	$ (637)	$ 1,298

BUSINESS OVERVIEW AND SIGNIFICA

BUSINESS OVERVIEW AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
BUSINESS OVERVIEW AND SIGNIFICANT ACCOUNTING POLICIES	BUSINESS OVERVIEW AND SIGNIFICANT ACCOUNTING POLICIES Nature of Operations BioMarin Pharmaceutical Inc. (the Company) is a global biotechnology company that develops and commercializes innovative therapies for people with serious and life-threatening rare diseases and medical conditions. The Company selects product candidates for diseases and conditions that represent a significant unmet medical need, have well-understood biology and provide an opportunity to be first-to-market or offer a significant benefit over existing products. The Company’s portfolio consists of seven commercial products and multiple clinical and preclinical product candidates for the treatment of various diseases. Basis of Presentation The accompanying Condensed Consolidated Financial Statements have been prepared pursuant to United States generally accepted accounting principles (U.S. GAAP) and the rules and regulations of the Securities and Exchange Commission (the SEC) for Quarterly Reports on Form 10-Q and do not include all of the information and note disclosures required by U.S. GAAP for complete financial statements, although the Company believes that the disclosures herein are adequate to ensure that the information presented is not misleading. The Condensed Consolidated Financial Statements should therefore be read in conjunction with the Consolidated Financial Statements and Notes thereto for the fiscal year ended December 31, 2021 included in the Company’s Annual Report on Form 10-K. The Condensed Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions have been eliminated. The results of operations for the three months ended March 31, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2022 or any other period. Use of Estimates U.S. GAAP requires management to make estimates and assumptions that affect amounts reported in the Condensed Consolidated Financial Statements and accompanying disclosures. Although these estimates are based on management’s best knowledge of current events and actions that the Company may undertake in the future, actual results may be different from those estimates. The Condensed Consolidated Financial Statements reflect all adjustments of a normal, recurring nature that are, in the opinion of management, necessary for a fair presentation of results for these interim periods. The full extent to which the COVID-19 pandemic could continue to directly or indirectly impact the Company’s business, results of operations and financial condition, including revenues, expenses, reserves and allowances, manufacturing, clinical trials and research and development costs, will depend on future developments that remain uncertain at this time, particularly as virus variants continue to spread. As events continue to evolve and additional information becomes available, the Company’s estimates may change materially in future periods. Management performed an evaluation of the Company’s activities through the date of filing of this Quarterly Report on Form 10-Q, and has concluded that there were no subsequent events or transactions that occurred subsequent to the balance sheet date prior to filing this Quarterly Report on Form 10-Q that would require recognition or disclosure in the Condensed Consolidated Financial Statements. Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies during the three months ended March 31, 2022, as compared to the significant accounting policies disclosed in Note 1 – Business Overview and Significant Accounting Policies included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Recent Accounting Pronouncements There have been no new accounting pronouncements adopted by the Company or new accounting pronouncements issued by the Financial Accounting Standards Board during the three months ended March 31, 2022, as compared to the recent accounting pronouncements described in Note 1 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, that the Company believes are of significance or potential significance to the Company.

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS All marketable securities were classified as available-for-sale at March 31, 2022 and December 31, 2021. The following tables show the Company’s cash, cash equivalents and available-for-sale securities by significant investment category for each period presented: March 31, 2022 Amortized Cost Gross Gross Aggregate Fair Value Cash and Cash Equivalents Short-term Marketable Securities (1) Long-term Marketable Securities (2) Level 1: Cash $ 441,957 $ — $ — $ 441,957 $ 441,957 $ — $ — Level 2: Money market instruments 160,485 — — 160,485 160,485 — — Corporate debt securities 585,315 62 (9,815) 575,562 — 240,777 334,785 U.S. government agency securities 237,962 47 (2,059) 235,950 — 155,716 80,234 Commercial paper 50,518 — (10) 50,508 2,998 47,510 — Asset-backed securities 51,822 1 (414) 51,409 — 3,785 47,624 Foreign and other 3,080 136 (22) 3,194 — 3,010 184 Subtotal 1,089,182 246 (12,320) 1,077,108 163,483 450,798 462,827 Total $ 1,531,139 $ 246 $ (12,320) $ 1,519,065 $ 605,440 $ 450,798 $ 462,827 December 31, 2021 Amortized Cost Gross Gross Aggregate Fair Value Cash and Cash Equivalents Short-term Marketable Securities (1) Long-term Marketable Securities (2) Level 1: Cash $ 301,177 $ — $ — $ 301,177 $ 301,177 $ — $ — Level 2: Money market instruments 285,099 — — 285,099 285,099 — — Corporate debt securities 584,000 386 (2,086) 582,300 — 200,304 381,996 U.S. government agency securities 224,774 182 (325) 224,631 — 146,421 78,210 Commercial paper 68,384 — — 68,384 1,000 67,384 — Asset-backed securities 56,936 10 (95) 56,851 — 9,451 47,400 Foreign and other 3,097 141 (12) 3,226 — 3,039 187 Subtotal 1,222,290 719 (2,518) 1,220,491 286,099 426,599 507,793 Total $ 1,523,467 $ 719 $ (2,518) $ 1,521,668 $ 587,276 $ 426,599 $ 507,793 (1) The Company’s short-term marketable securities mature in one year or less. (2) The Company’s long-term marketable securities mature between one As of March 31, 2022, the Company had the ability and intent to hold all investments that were in an unrealized loss position until maturity. The Company considered its intent and ability to hold the securities until recovery of amortized cost basis, the extent to which fair value is less than amortized cost basis, conditions specifically related to the security’s industry and geography, payment structure and history and changes to the ratings (if any) in determining that the decline in fair value compared to carrying value is not related to a credit loss.

SUPPLEMENTAL FINANCIAL STATEMEN

SUPPLEMENTAL FINANCIAL STATEMENTS INFORMATION	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SUPPLEMENTAL FINANCIAL STATEMENTS INFORMATION	SUPPLEMENTAL FINANCIAL STATEMENTS INFORMATION Supplemental Balance Sheet Information Inventory consisted of the following: March 31, December 31, Raw materials $ 92,110 $ 80,269 Work-in-process 402,319 415,261 Finished goods 291,927 281,139 Total inventory $ 786,356 $ 776,669 Inventory as of March 31, 2022, included manufacturing-related costs for the commercial production of valoctocogene roxaparvovec inventory totaling $11.3 million. Valoctocogene roxaparvovec is an investigational gene therapy product candidate for the treatment of severe hemophilia A. The Company must receive marketing approval from the applicable regulators before the valoctocogene roxaparvovec inventory can be sold commercially. Starting in the first quarter of 2022, the Company believed that material uncertainties related to the ultimate regulatory approval of valoctocogene roxaparvovec by the European Medicines Agency had been significantly reduced and the Company expects to realize economic benefit in the future. A number of factors were taken into consideration, including the current status in the drug development process, pivotal clinical trial results for the underlying product candidate, results from meetings and correspondence with the relevant regulatory authorities following the submission of the additional two-year follow-up safety and efficacy data requested by the regulatory agencies in the third quarter of 2020, historical experience, as well as potential impediments to the approval process such as product safety or efficacy, and commercialization and marketplace trends. See Note 1 – Business Overview and Significant Accounting Policies included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 for additional information related to the Company’s policies on inventory produced prior to regulatory approval. Property, Plant and Equipment, Net consisted of the following: March 31, December 31, Property, plant and equipment, gross $ 1,780,711 $ 1,756,035 Accumulated depreciation (741,167) (720,574) Total property, plant and equipment, net $ 1,039,544 $ 1,035,461 Depreciation expense, net of amounts capitalized into inventory, for the three months ended March 31, 2022 and March 31, 2021 was $11.7 million and $12.5 million, respectively. Intangible Assets, Net consisted of the following: March 31, December 31, Finite-lived intangible assets $ 678,601 $ 677,350 Accumulated amortization (304,350) (288,698) Net carrying value $ 374,251 $ 388,652 Accounts Payable and Accrued Liabilities consisted of the following: March 31, December 31, Accounts payable and accrued operating expenses $ 187,810 $ 193,003 Accrued compensation expense 127,938 204,446 Accrued rebates payable 56,295 47,987 Accrued royalties payable 16,026 15,215 Foreign currency exchange forward contracts 12,716 6,263 Lease liabilities 10,829 10,464 Value added taxes payable 5,096 1,935 Accrued income taxes 3,347 1,213 Deferred revenue 306 6,956 Other 6,055 4,108 Total accounts payable and accrued liabilities $ 426,418 $ 491,590 Supplemental Statement of Comprehensive Income Information Gain on Sale of Nonfinancial Assets, Net in the first quarter of 2022 consisted of the completed sale of a Rare Pediatric Disease Priority Review Voucher (PRV) the Company received from the FDA in connection with the U.S. approval of Voxzogo. As a result of the PRV sale, the Company recognized a $108.0 million net gain on sale of nonfinancial assets in the Company's Consolidated Statement of Comprehensive Income.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The Company measures certain financial assets and liabilities at fair value in accordance with the policy described in Note 1 – Business Overview and Significant Accounting Policies included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The following tables present the classification within the fair value hierarchy of financial assets and liabilities not disclosed elsewhere in these Condensed Consolidated Financial Statements that are remeasured on a recurring basis as of March 31, 2022 and December 31, 2021. Other than the Company’s fixed-rate convertible debt disclosed in Note 6 – Debt , there were no financial assets or liabilities that were remeasured using a quoted price in active markets for identical assets (Level 1) as of March 31, 2022 or December 31, 2021. Fair Value Measurements as of March 31, 2022 Significant Other Significant Total Assets: Other current assets: NQDC Plan assets $ 2,859 $ — $ 2,859 Other assets: NQDC Plan assets 22,387 — 22,387 Restricted investments (1) 2,513 — 2,513 Total other assets 24,900 — 24,900 Total assets $ 27,759 $ — $ 27,759 Liabilities: Current liabilities: NQDC Plan liability $ 2,859 $ — $ 2,859 Contingent consideration — 64,000 64,000 Total current liabilities 2,859 64,000 66,859 Other long-term liabilities: NQDC Plan liability 22,387 — 22,387 Total liabilities $ 25,246 $ 64,000 $ 89,246 Fair Value Measurements as of December 31, 2021 Significant Other Significant Total Assets: Other current assets: NQDC Plan assets $ 2,043 $ — $ 2,043 Other assets: NQDC Plan assets 23,929 — 23,929 Restricted investments (1) 2,940 — 2,940 Total other assets 26,869 — 26,869 Total assets $ 28,912 $ — $ 28,912 Liabilities: Current liabilities: NQDC Plan liability $ 2,043 $ — $ 2,043 Contingent consideration — 48,232 48,232 Total current liabilities 2,043 48,232 50,275 Other long-term liabilities: NQDC Plan liability 23,929 — 23,929 Contingent consideration — 15,167 15,167 Total other long-term liabilities 23,929 15,167 39,096 Total liabilities $ 25,972 $ 63,399 $ 89,371 (1) The restricted investments at March 31, 2022 and December 31, 2021 secure the Company's irrevocable standby letters of credit obtained in connection with certain commercial agreements. There were no transfers between levels during the three months ended March 31, 2022. Liabilities measured at fair value using Level 3 inputs consisted of contingent consideration. The following table represents a roll-forward of contingent consideration. Contingent consideration as of December 31, 2021 $ 63,399 Changes in the fair value of contingent consideration 1,989 Foreign exchange remeasurement of Euro denominated contingent consideration (1,388) Contingent consideration as of March 31, 2022 $ 64,000

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES	DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES The Company uses foreign currency exchange forward contracts (forward contracts) to protect against the reduction in value of forecasted foreign currency cash flows resulting from revenues and operating expenses denominated in currencies other than the U.S. Dollar (USD), primarily the Euro. Certain of these forward contracts are designated as cash flow hedges and have maturities of up to one year, nine months. The Company also enters into forward contracts to manage foreign exchange risk related to asset or liability positions denominated in currencies other than USD. Such forward contracts are considered to be economic hedges, are not designated as hedging instruments and have maturities of up to three months. The Company does not use derivative instruments for speculative trading purposes. The Company is exposed to counterparty credit risk on its derivatives. The Company has established and maintains strict counterparty credit guidelines and enters into hedging agreements with financial institutions that are investment grade or better to minimize the Company’s exposure to potential defaults. The Company is not required to pledge collateral under these agreements. The following table summarizes the aggregate notional amounts for the Company’s derivatives outstanding as of the periods presented. Forward Contracts March 31, December 31, 2021 Derivatives designated as hedging instruments: Sell $ 650,302 $ 740,667 Purchase $ 147,206 $ 183,256 Derivatives not designated as hedging instruments: Sell $ 98,800 $ 113,257 Purchase $ 3,565 $ 31,068 The fair value carrying amounts of the Company’s derivatives, as classified within the fair value hierarchy, were as follows: Balance Sheet Location March 31, December 31, 2021 Derivatives designated as hedging instruments: Asset Derivatives - Level 2 (1) Other current assets $ 20,763 $ 17,357 Other assets 3,739 4,991 Subtotal $ 24,502 $ 22,348 Liability Derivatives - Level 2 (1) Accounts payable and accrued liabilities $ 12,670 $ 5,487 Other long-term liabilities 2,984 1,378 Subtotal $ 15,654 $ 6,865 Derivatives not designated as hedging instruments: Asset Derivatives - Level 2 (1) Other current assets $ 98 $ 427 Liability Derivatives - Level 2 (1) Accounts payable and accrued liabilities $ 46 $ 776 Total Derivatives Assets $ 24,600 $ 22,775 Total Derivatives Liabilities $ 15,700 $ 7,641 (1) For additional discussion of fair value measurements, see Note 1 – Business Overview and Significant Accounting Policies included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. The following tables summarize the impact of gains and losses from the Company's derivatives on its Condensed Consolidated Statements of Comprehensive Income for the periods presented. Three Months Ended March 31, 2022 2021 Derivatives Designated as Cash Flow Hedging Instruments Cash Flow Hedging Gains (Losses) Cash Flow Hedging Gains (Losses) Net product revenues as reported $ 505,525 $ 5,572 $ 467,769 $ (2,757) Operating expenses as reported $ 382,032 $ (1,379) $ 460,944 $ 5 Derivatives Not Designated as Hedging Instruments Gains (Losses) Recognized in Earnings Gains (Losses) Recognized in Earnings Operating expenses $ 1,292 $ 4,269 As of March 31, 2022, the Company expects to reclassify unrealized gains of $7.6 million from Accumulated Other Comprehensive Income (Loss) (AOCI) to earnings as the forecasted revenues and operating expense transactions occur over the next twelve months. For additional discussion of balances in AOCI see Note 7 – Accumulated Other Comprehensive Income .

DEBT

DEBT	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
DEBT	DEBT Convertible Notes As of March 31, 2022, the Company had outstanding fixed-rate notes with varying maturities for an undiscounted aggregate principal amount of $1.1 billion (collectively the Notes). The Notes are senior subordinated convertible obligations, and interest is payable in arrears, semi-annually. The following table summarizes information regarding the Company’s convertible debt: March 31, December 31, 1.25% senior subordinated convertible notes due in May 2027 (the 2027 Notes) $ 600,000 $ 600,000 Unamortized discount net of deferred offering costs (10,465) (10,971) 2027 Notes, net 589,535 589,029 0.599% senior subordinated convertible notes due in August 2024 (the 2024 Notes) 495,000 495,000 Unamortized discount net of deferred offering costs (4,474) (4,952) 2024 Notes, net 490,526 490,048 Total convertible debt, net $ 1,080,061 $ 1,079,077 Fair value of fixed-rate convertible debt (1) : 2027 Notes $ 604,758 $ 625,122 2024 Notes 497,223 521,082 Total fair value of fixed-rate convertible debt $ 1,101,981 $ 1,146,204 (1) The fair value of the Company’s fixed-rate convertible debt is based on open-market trades and is classified as Level 1 in the fair value hierarchy. For additional discussion of fair value measurements, see Note 1 – Business Overview and Significant Accounting Policies included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Interest expense on the Company’s convertible debt consisted of the following: Three Months Ended March 31, 2022 2021 Coupon interest expense $ 2,616 $ 2,616 Accretion of discount on convertible notes 836 834 Amortization of debt issuance costs 148 148 Total interest expense on convertible debt $ 3,600 $ 3,598 See Note 10 - Debt included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 for additional information related to the Company’s convertible debt. Revolving Credit Facility In October 2018, the Company entered into an unsecured revolving credit facility of up to $200.0 million which includes a letter of credit subfacility and a swingline loan subfacility. The credit facility is intended to finance ongoing working capital needs and for other general corporate purposes. In May 2021, the Company entered into an amendment agreement in respect of the credit facility, extending the maturity date from October 19, 2021 to May 28, 2024, among other changes. The amended credit facility contains financial covenants including a maximum leverage ratio and a minimum interest coverage ratio. As of March 31, 2022, there were no amounts outstanding under the credit facility and the Company and certain of its subsidiaries that serve as guarantors were in compliance with all covenants.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables summarize changes in the accumulated balances for each component of AOCI, including current-period other comprehensive income (loss) and reclassifications out of AOCI, for the periods presented. Three Months Ended March 31, 2022 Unrealized Gains Unrealized Gains Total AOCI balance at December 31, 2021 $ 15,805 $ (1,373) $ 14,432 Other comprehensive income (loss) before (3,225) (10,274) (13,499) Less: gain (loss) reclassified from AOCI 4,193 — 4,193 Tax effect — 2,383 2,383 Net current-period other comprehensive income (loss) (7,418) (7,891) (15,309) AOCI balance at March 31, 2022 $ 8,387 $ (9,264) $ (877) Three Months Ended March 31, 2021 Unrealized Gains Unrealized Gains Total AOCI balance at December 31, 2020 $ (20,028) $ 3,889 $ (16,139) Other comprehensive income (loss) before 19,893 (1,945) 17,948 Less: gain (loss) reclassified from AOCI (2,752) — (2,752) Tax effect — 443 443 Net current-period other comprehensive income (loss) 22,645 (1,502) 21,143 AOCI balance at March 31, 2021 $ 2,617 $ 2,387 $ 5,004 For additional discussion of reclassifications from AOCI see Note 5 – Derivative Instruments and Hedging Strategies .

REVENUE, CREDIT CONCENTRATIONS

REVENUE, CREDIT CONCENTRATIONS AND GEOGRAPHIC INFORMATION	3 Months Ended
	Mar. 31, 2022
Concentration Risk And Geographic Information [Abstract]
REVENUE, CREDIT CONCENTRATIONS AND GEOGRAPHIC INFORMATION	REVENUE, CREDIT CONCENTRATIONS AND GEOGRAPHIC INFORMATION The Company operates in one business segment, which primarily focuses on the development and commercialization of innovative therapies for people with serious and life-threatening rare diseases and medical conditions. The following table disaggregates total Net Product Revenues by product. Three Months Ended 2022 2021 Net product revenues by product: Vimizim $ 183,059 $ 158,298 Naglazyme 128,031 107,336 Kuvan 59,337 70,763 Palynziq 54,885 54,038 Brineura 36,173 27,325 Voxzogo 19,658 — Total net product revenues marketed by the Company 481,143 417,760 Aldurazyme net product revenues marketed by Sanofi 24,382 50,009 Total net product revenues 505,525 467,769 Royalty and other revenues 13,834 18,261 Total revenues $ 519,359 $ 486,030 The Company considers there to be revenue concentration risks for regions where Net Product Revenues exceed 10% of consolidated Net Product Revenues. The concentration of the Company’s Net Product Revenues within the regions below may have a material adverse effect on the Company’s revenues and results of operations if sales in the respective regions experience difficulties. The table below disaggregates total Net Product Revenues by geographic region, which is based on patient location for Company's commercial products sold directly by the Company, except for Aldurazyme, which is sold exclusively by Sanofi worldwide. Three Months Ended 2022 2021 Europe $ 156,832 $ 148,872 United States 150,815 155,064 Middle East 65,607 15,559 Latin America 62,544 59,705 Rest of world 45,345 38,560 Total net product revenues marketed by the Company $ 481,143 $ 417,760 Aldurazyme net product revenues marketed by Sanofi 24,382 50,009 Total net product revenues $ 505,525 $ 467,769 The following table illustrates the percentage of the Company’s total Net Product Revenues attributed to the Company’s largest customers for the periods presented. Three Months Ended 2022 2021 Customer A 17 % 16 % Customer B 11 % 12 % Customer C 8 % 9 % Customer D 5 % 11 % Total 41 % 48 % On a consolidated basis, two customers accounted for 21% and 14% of the Company’s March 31, 2022 accounts receivable balance, respectively, compared to December 31, 2021, when two customers accounted for 28% and 16% of the accounts receivable balance, respectively. As of March 31, 2022, and December 31, 2021, the accounts receivable balance for Sanofi included $61.4 million and $67.9 million, respectively, of unbilled accounts receivable, which becomes payable to the Company when the product is sold through by Sanofi. The Company does not require collateral from its customers, but does perform periodic credit evaluations of its customers’ financial condition and requires prepayments in certain circumstances. The Company's global revenue sources and its business operations were impacted by the COVID-19 pandemic during the three months ended March 31, 2022 and 2021, mostly in the form of demand interruptions such as missed patient infusions and delayed treatment starts for new patients, and the Company anticipates a continued impact due to COVID-19 on its financial results in 2022. The extent and duration of such effects remain uncertain and difficult to predict, particularly as virus variants continue to spread. The Company is actively monitoring and managing its response and assessing actual and potential impacts to its operating results and financial condition, as well as developments in its business, which could further impact developments, trends and expectations. The Company is mindful that conditions in the current macroeconomic environment could affect the Company’s ability to achieve its goals. The Company sells its products in countries that face economic volatility and weakness. Although the Company has historically collected receivables from customers in certain countries, sustained weakness or further deterioration of the local economies and currencies and effects of the impact of the ongoing COVID-19 pandemic may cause customers in those countries to delay payment or be unable to pay for the Company’s products. The Company believes that the allowances for doubtful accounts related to these countries, if any, are adequate based on its analysis of the specific business circumstances and expectations of collection for each of the underlying accounts in these countries. The Company will continue to monitor these conditions and will attempt to adjust its business processes, as appropriate, to mitigate macroeconomic risks to its business.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The Company has stockholder-approved equity incentive plans that provide for the granting of service-based restricted stock units (RSUs), market-based RSUs, performance-based RSUs, stock options and other types of awards to its employees, officers and non-employee directors. Compensation expense included in the Company’s Condensed Consolidated Statements of Comprehensive Income for all stock-based compensation arrangements was as follows: Three Months Ended 2022 2021 Cost of sales $ 4,326 $ 6,481 Research and development 17,190 17,517 Selling, general and administrative 26,317 25,505 Total stock-based compensation expense $ 47,833 $ 49,503 Stock-based compensation of $5.2 million and $4.4 million was capitalized into inventory for the three months ended March 31, 2022 and 2021, respectively. Capitalized stock-based compensation is recognized as cost of sales when the related product is sold.

NET INCOME PER COMMON SHARE

NET INCOME PER COMMON SHARE	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
NET INCOME PER COMMON SHARE	NET INCOME PER COMMON SHARE Potentially issuable shares of common stock include shares issuable upon the exercise of outstanding employee stock option awards, common stock issuable under the Company’s Employee Share Purchase Plan (ESPP), unvested RSUs, the Company’s common stock held by the NQDC and contingent issuances of common stock related to the Company’s convertible debt. The following table sets forth the computation of basic and diluted earnings per common share (common shares in thousands): Three Months Ended 2022 2021 Numerator: Net Income, basic $ 120,798 $ 17,371 Add: Interest expense, net of tax, on convertible notes 2,763 — Net Income, diluted $ 123,561 $ 17,371 Denominator: Weighted-average common shares outstanding, basic 183,990 181,772 Effect of dilutive securities: Options to purchase common stock 564 1,010 Common stock issuable under the 2027 Notes 4,365 — Common stock issuable under the 2024 Notes 3,970 — Unvested RSUs 1,517 1,031 Common stock potentially issuable for ESPP purchases 307 359 The Company’s common stock held by the NQDC 173 193 Weighted-average common shares outstanding, diluted 194,886 184,365 Net income per common share, basic $ 0.66 $ 0.10 Net income per common share, diluted $ 0.63 $ 0.09 In addition to the equity instruments included in the table above, the table below presents potential shares of common stock that were excluded from the computation of basic and diluted income per common share as they were anti-dilutive (in thousands): Three Months Ended 2022 2021 Options to purchase common stock 6,206 6,217 Common stock issuable under the 2027 Notes — 4,365 Common stock issuable under the 2024 Notes — 3,970 Unvested RSUs 4,463 3,920 Common stock potentially issuable for ESPP purchases 258 301 Total number of potentially issuable shares 10,927 18,773

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Contingencies From time to time the Company is involved in legal actions arising in the normal course of its business. The process of resolving matters through litigation or other means is inherently uncertain and it is possible that an unfavorable resolution of these matters could adversely affect the Company, its results of operations, financial condition or cash flows. The Company’s general practice is to expense legal fees as services are rendered in connection with legal matters, and to accrue for liabilities when losses are probable and reasonably estimable. Contingent Payments As of March 31, 2022, the Company was subject to contingent payments considered reasonably possible of $788.5 million, including $389.0 million related to an early stage development program licensed from a third party in the fourth quarter of 2021 and $225.0 million related to an early stage development program licensed from a third party in the second quarter of 2020. Other Commitments The Company uses experts and laboratories at universities and other institutions to perform certain R&D activities. These amounts are included as R&D expense as services are provided. In the normal course of business, the Company enters into various firm purchase commitments primarily to procure active pharmaceutical ingredients, certain inventory-related items and certain third-party R&D services, production services and facility construction services. As of March 31, 2022, such commitments were estimated at approximately $117.5 million, all of which were short-term. The Company has also licensed technology, for which it is required to pay royalties upon future sales, subject to certain annual minimums.

BUSINESS OVERVIEW AND SIGNIFI_2

BUSINESS OVERVIEW AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Condensed Consolidated Financial Statements have been prepared pursuant to United States generally accepted accounting principles (U.S. GAAP) and the rules and regulations of the Securities and Exchange Commission (the SEC) for Quarterly Reports on Form 10-Q and do not include all of the information and note disclosures required by U.S. GAAP for complete financial statements, although the Company believes that the disclosures herein are adequate to ensure that the information presented is not misleading. The Condensed Consolidated Financial Statements should therefore be read in conjunction with the Consolidated Financial Statements and Notes thereto for the fiscal year ended December 31, 2021 included in the Company’s Annual Report on Form 10-K. The Condensed Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions have been eliminated. The results of operations for the three months ended March 31, 2022 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2022 or any other period.
Use of Estimates	Use of Estimates U.S. GAAP requires management to make estimates and assumptions that affect amounts reported in the Condensed Consolidated Financial Statements and accompanying disclosures. Although these estimates are based on management’s best knowledge of current events and actions that the Company may undertake in the future, actual results may be different from those estimates. The Condensed Consolidated Financial Statements reflect all adjustments of a normal, recurring nature that are, in the opinion of management, necessary for a fair presentation of results for these interim periods. The full extent to which the COVID-19 pandemic could continue to directly or indirectly impact the Company’s business, results of operations and financial condition, including revenues, expenses, reserves and allowances, manufacturing, clinical trials and research and development costs, will depend on future developments that remain uncertain at this time, particularly as virus variants continue to spread. As events continue to evolve and additional information becomes available, the Company’s estimates may change materially in future periods. Management performed an evaluation of the Company’s activities through the date of filing of this Quarterly Report on Form 10-Q, and has concluded that there were no subsequent events or transactions that occurred subsequent to the balance sheet date prior to filing this Quarterly Report on Form 10-Q that would require recognition or disclosure in the Condensed Consolidated Financial Statements.
Recent Accounting Pronouncements	Recent Accounting Pronouncements There have been no new accounting pronouncements adopted by the Company or new accounting pronouncements issued by the Financial Accounting Standards Board during the three months ended March 31, 2022, as compared to the recent accounting pronouncements described in Note 1 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, that the Company believes are of significance or potential significance to the Company.

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of Cash, Cash Equivalents and Available-for-Sale Securities by Significant Investment Category	The following tables show the Company’s cash, cash equivalents and available-for-sale securities by significant investment category for each period presented: March 31, 2022 Amortized Cost Gross Gross Aggregate Fair Value Cash and Cash Equivalents Short-term Marketable Securities (1) Long-term Marketable Securities (2) Level 1: Cash $ 441,957 $ — $ — $ 441,957 $ 441,957 $ — $ — Level 2: Money market instruments 160,485 — — 160,485 160,485 — — Corporate debt securities 585,315 62 (9,815) 575,562 — 240,777 334,785 U.S. government agency securities 237,962 47 (2,059) 235,950 — 155,716 80,234 Commercial paper 50,518 — (10) 50,508 2,998 47,510 — Asset-backed securities 51,822 1 (414) 51,409 — 3,785 47,624 Foreign and other 3,080 136 (22) 3,194 — 3,010 184 Subtotal 1,089,182 246 (12,320) 1,077,108 163,483 450,798 462,827 Total $ 1,531,139 $ 246 $ (12,320) $ 1,519,065 $ 605,440 $ 450,798 $ 462,827 December 31, 2021 Amortized Cost Gross Gross Aggregate Fair Value Cash and Cash Equivalents Short-term Marketable Securities (1) Long-term Marketable Securities (2) Level 1: Cash $ 301,177 $ — $ — $ 301,177 $ 301,177 $ — $ — Level 2: Money market instruments 285,099 — — 285,099 285,099 — — Corporate debt securities 584,000 386 (2,086) 582,300 — 200,304 381,996 U.S. government agency securities 224,774 182 (325) 224,631 — 146,421 78,210 Commercial paper 68,384 — — 68,384 1,000 67,384 — Asset-backed securities 56,936 10 (95) 56,851 — 9,451 47,400 Foreign and other 3,097 141 (12) 3,226 — 3,039 187 Subtotal 1,222,290 719 (2,518) 1,220,491 286,099 426,599 507,793 Total $ 1,523,467 $ 719 $ (2,518) $ 1,521,668 $ 587,276 $ 426,599 $ 507,793 (1) The Company’s short-term marketable securities mature in one year or less. (2) The Company’s long-term marketable securities mature between one

SUPPLEMENTAL FINANCIAL STATEM_2

SUPPLEMENTAL FINANCIAL STATEMENTS INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Inventory	Inventory consisted of the following: March 31, December 31, Raw materials $ 92,110 $ 80,269 Work-in-process 402,319 415,261 Finished goods 291,927 281,139 Total inventory $ 786,356 $ 776,669
Schedule of Property Plant and Equipment Net	Property, Plant and Equipment, Net consisted of the following: March 31, December 31, Property, plant and equipment, gross $ 1,780,711 $ 1,756,035 Accumulated depreciation (741,167) (720,574) Total property, plant and equipment, net $ 1,039,544 $ 1,035,461
Schedule of Intangible Assets	Intangible Assets, Net consisted of the following: March 31, December 31, Finite-lived intangible assets $ 678,601 $ 677,350 Accumulated amortization (304,350) (288,698) Net carrying value $ 374,251 $ 388,652
Schedule of Accounts Payable and Accrued Liabilities	Accounts Payable and Accrued Liabilities consisted of the following: March 31, December 31, Accounts payable and accrued operating expenses $ 187,810 $ 193,003 Accrued compensation expense 127,938 204,446 Accrued rebates payable 56,295 47,987 Accrued royalties payable 16,026 15,215 Foreign currency exchange forward contracts 12,716 6,263 Lease liabilities 10,829 10,464 Value added taxes payable 5,096 1,935 Accrued income taxes 3,347 1,213 Deferred revenue 306 6,956 Other 6,055 4,108 Total accounts payable and accrued liabilities $ 426,418 $ 491,590

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value of Financial Assets and Liabilities	The following tables present the classification within the fair value hierarchy of financial assets and liabilities not disclosed elsewhere in these Condensed Consolidated Financial Statements that are remeasured on a recurring basis as of March 31, 2022 and December 31, 2021. Other than the Company’s fixed-rate convertible debt disclosed in Note 6 – Debt , there were no financial assets or liabilities that were remeasured using a quoted price in active markets for identical assets (Level 1) as of March 31, 2022 or December 31, 2021. Fair Value Measurements as of March 31, 2022 Significant Other Significant Total Assets: Other current assets: NQDC Plan assets $ 2,859 $ — $ 2,859 Other assets: NQDC Plan assets 22,387 — 22,387 Restricted investments (1) 2,513 — 2,513 Total other assets 24,900 — 24,900 Total assets $ 27,759 $ — $ 27,759 Liabilities: Current liabilities: NQDC Plan liability $ 2,859 $ — $ 2,859 Contingent consideration — 64,000 64,000 Total current liabilities 2,859 64,000 66,859 Other long-term liabilities: NQDC Plan liability 22,387 — 22,387 Total liabilities $ 25,246 $ 64,000 $ 89,246 Fair Value Measurements as of December 31, 2021 Significant Other Significant Total Assets: Other current assets: NQDC Plan assets $ 2,043 $ — $ 2,043 Other assets: NQDC Plan assets 23,929 — 23,929 Restricted investments (1) 2,940 — 2,940 Total other assets 26,869 — 26,869 Total assets $ 28,912 $ — $ 28,912 Liabilities: Current liabilities: NQDC Plan liability $ 2,043 $ — $ 2,043 Contingent consideration — 48,232 48,232 Total current liabilities 2,043 48,232 50,275 Other long-term liabilities: NQDC Plan liability 23,929 — 23,929 Contingent consideration — 15,167 15,167 Total other long-term liabilities 23,929 15,167 39,096 Total liabilities $ 25,972 $ 63,399 $ 89,371 (1) The restricted investments at March 31, 2022 and December 31, 2021 secure the Company's irrevocable standby letters of credit obtained in connection with certain commercial agreements.
Liabilities Measured at Fair Value on Recurring Basis Using Level 3 Inputs	Liabilities measured at fair value using Level 3 inputs consisted of contingent consideration. The following table represents a roll-forward of contingent consideration. Contingent consideration as of December 31, 2021 $ 63,399 Changes in the fair value of contingent consideration 1,989 Foreign exchange remeasurement of Euro denominated contingent consideration (1,388) Contingent consideration as of March 31, 2022 $ 64,000

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Derivatives Designated as Hedging Instruments Outstanding	The following table summarizes the aggregate notional amounts for the Company’s derivatives outstanding as of the periods presented. Forward Contracts March 31, December 31, 2021 Derivatives designated as hedging instruments: Sell $ 650,302 $ 740,667 Purchase $ 147,206 $ 183,256 Derivatives not designated as hedging instruments: Sell $ 98,800 $ 113,257 Purchase $ 3,565 $ 31,068
Fair Value Carrying Amount of Derivatives	The fair value carrying amounts of the Company’s derivatives, as classified within the fair value hierarchy, were as follows: Balance Sheet Location March 31, December 31, 2021 Derivatives designated as hedging instruments: Asset Derivatives - Level 2 (1) Other current assets $ 20,763 $ 17,357 Other assets 3,739 4,991 Subtotal $ 24,502 $ 22,348 Liability Derivatives - Level 2 (1) Accounts payable and accrued liabilities $ 12,670 $ 5,487 Other long-term liabilities 2,984 1,378 Subtotal $ 15,654 $ 6,865 Derivatives not designated as hedging instruments: Asset Derivatives - Level 2 (1) Other current assets $ 98 $ 427 Liability Derivatives - Level 2 (1) Accounts payable and accrued liabilities $ 46 $ 776 Total Derivatives Assets $ 24,600 $ 22,775 Total Derivatives Liabilities $ 15,700 $ 7,641 (1) For additional discussion of fair value measurements, see Note 1 – Business Overview and Significant Accounting Policies included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.
Summary of Impact of Gains and Losses from Derivatives Designated as Hedging Instruments	The following tables summarize the impact of gains and losses from the Company's derivatives on its Condensed Consolidated Statements of Comprehensive Income for the periods presented. Three Months Ended March 31, 2022 2021 Derivatives Designated as Cash Flow Hedging Instruments Cash Flow Hedging Gains (Losses) Cash Flow Hedging Gains (Losses) Net product revenues as reported $ 505,525 $ 5,572 $ 467,769 $ (2,757) Operating expenses as reported $ 382,032 $ (1,379) $ 460,944 $ 5 Derivatives Not Designated as Hedging Instruments Gains (Losses) Recognized in Earnings Gains (Losses) Recognized in Earnings Operating expenses $ 1,292 $ 4,269

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Summary of Convertible Debt	The following table summarizes information regarding the Company’s convertible debt: March 31, December 31, 1.25% senior subordinated convertible notes due in May 2027 (the 2027 Notes) $ 600,000 $ 600,000 Unamortized discount net of deferred offering costs (10,465) (10,971) 2027 Notes, net 589,535 589,029 0.599% senior subordinated convertible notes due in August 2024 (the 2024 Notes) 495,000 495,000 Unamortized discount net of deferred offering costs (4,474) (4,952) 2024 Notes, net 490,526 490,048 Total convertible debt, net $ 1,080,061 $ 1,079,077 Fair value of fixed-rate convertible debt (1) : 2027 Notes $ 604,758 $ 625,122 2024 Notes 497,223 521,082 Total fair value of fixed-rate convertible debt $ 1,101,981 $ 1,146,204 (1) The fair value of the Company’s fixed-rate convertible debt is based on open-market trades and is classified as Level 1 in the fair value hierarchy. For additional discussion of fair value measurements, see Note 1 – Business Overview and Significant Accounting Policies included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.
Summary of Interest Expense on Debt	Interest expense on the Company’s convertible debt consisted of the following: Three Months Ended March 31, 2022 2021 Coupon interest expense $ 2,616 $ 2,616 Accretion of discount on convertible notes 836 834 Amortization of debt issuance costs 148 148 Total interest expense on convertible debt $ 3,600 $ 3,598

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Summary of Changes in Accumulated Balances of AOCI Including Current Period Other Comprehensive Income (Loss) and Reclassifications Out of AOCI	The following tables summarize changes in the accumulated balances for each component of AOCI, including current-period other comprehensive income (loss) and reclassifications out of AOCI, for the periods presented. Three Months Ended March 31, 2022 Unrealized Gains Unrealized Gains Total AOCI balance at December 31, 2021 $ 15,805 $ (1,373) $ 14,432 Other comprehensive income (loss) before (3,225) (10,274) (13,499) Less: gain (loss) reclassified from AOCI 4,193 — 4,193 Tax effect — 2,383 2,383 Net current-period other comprehensive income (loss) (7,418) (7,891) (15,309) AOCI balance at March 31, 2022 $ 8,387 $ (9,264) $ (877) Three Months Ended March 31, 2021 Unrealized Gains Unrealized Gains Total AOCI balance at December 31, 2020 $ (20,028) $ 3,889 $ (16,139) Other comprehensive income (loss) before 19,893 (1,945) 17,948 Less: gain (loss) reclassified from AOCI (2,752) — (2,752) Tax effect — 443 443 Net current-period other comprehensive income (loss) 22,645 (1,502) 21,143 AOCI balance at March 31, 2021 $ 2,617 $ 2,387 $ 5,004

REVENUE, CREDIT CONCENTRATION_2

REVENUE, CREDIT CONCENTRATIONS AND GEOGRAPHIC INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2022
Concentration Risk And Geographic Information [Abstract]
Schedule of Net Product Revenues by Product	The following table disaggregates total Net Product Revenues by product. Three Months Ended 2022 2021 Net product revenues by product: Vimizim $ 183,059 $ 158,298 Naglazyme 128,031 107,336 Kuvan 59,337 70,763 Palynziq 54,885 54,038 Brineura 36,173 27,325 Voxzogo 19,658 — Total net product revenues marketed by the Company 481,143 417,760 Aldurazyme net product revenues marketed by Sanofi 24,382 50,009 Total net product revenues 505,525 467,769 Royalty and other revenues 13,834 18,261 Total revenues $ 519,359 $ 486,030
Schedule of Total Net Product Revenues Based on Patient Location	The table below disaggregates total Net Product Revenues by geographic region, which is based on patient location for Company's commercial products sold directly by the Company, except for Aldurazyme, which is sold exclusively by Sanofi worldwide. Three Months Ended 2022 2021 Europe $ 156,832 $ 148,872 United States 150,815 155,064 Middle East 65,607 15,559 Latin America 62,544 59,705 Rest of world 45,345 38,560 Total net product revenues marketed by the Company $ 481,143 $ 417,760 Aldurazyme net product revenues marketed by Sanofi 24,382 50,009 Total net product revenues $ 505,525 $ 467,769
Schedule of Net Product Revenue Concentrations Attributed to Largest Customers	The following table illustrates the percentage of the Company’s total Net Product Revenues attributed to the Company’s largest customers for the periods presented. Three Months Ended 2022 2021 Customer A 17 % 16 % Customer B 11 % 12 % Customer C 8 % 9 % Customer D 5 % 11 % Total 41 % 48 %

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expense	Compensation expense included in the Company’s Condensed Consolidated Statements of Comprehensive Income for all stock-based compensation arrangements was as follows: Three Months Ended 2022 2021 Cost of sales $ 4,326 $ 6,481 Research and development 17,190 17,517 Selling, general and administrative 26,317 25,505 Total stock-based compensation expense $ 47,833 $ 49,503

NET INCOME PER COMMON SHARE (Ta

NET INCOME PER COMMON SHARE (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per common share (common shares in thousands): Three Months Ended 2022 2021 Numerator: Net Income, basic $ 120,798 $ 17,371 Add: Interest expense, net of tax, on convertible notes 2,763 — Net Income, diluted $ 123,561 $ 17,371 Denominator: Weighted-average common shares outstanding, basic 183,990 181,772 Effect of dilutive securities: Options to purchase common stock 564 1,010 Common stock issuable under the 2027 Notes 4,365 — Common stock issuable under the 2024 Notes 3,970 — Unvested RSUs 1,517 1,031 Common stock potentially issuable for ESPP purchases 307 359 The Company’s common stock held by the NQDC 173 193 Weighted-average common shares outstanding, diluted 194,886 184,365 Net income per common share, basic $ 0.66 $ 0.10 Net income per common share, diluted $ 0.63 $ 0.09
Schedule Of Anti-Dilutive Common Stock Excluded From Computation of Diluted Net Loss Per Share	In addition to the equity instruments included in the table above, the table below presents potential shares of common stock that were excluded from the computation of basic and diluted income per common share as they were anti-dilutive (in thousands): Three Months Ended 2022 2021 Options to purchase common stock 6,206 6,217 Common stock issuable under the 2027 Notes — 4,365 Common stock issuable under the 2024 Notes — 3,970 Unvested RSUs 4,463 3,920 Common stock potentially issuable for ESPP purchases 258 301 Total number of potentially issuable shares 10,927 18,773

Financial Instruments - Schedul

Financial Instruments - Schedule of Cash, Cash Equivalents and Available-for-Sale Securities by Significant Investment Category (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 1,531,139	$ 1,523,467
Gross Unrealized Gains	246	719
Gross Unrealized Losses	(12,320)	(2,518)
Aggregate Fair Value	1,519,065	1,521,668
Cash and Cash Equivalents	605,440	587,276	[1]
Short-term Marketable Securities	450,798	426,599	[1]
Long-term Marketable Securities	462,827	507,793	[1]
Level 1: | Cash
Schedule of Available-for-sale Securities [Line Items]
Cash	441,957	301,177
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Aggregate Fair Value	441,957	301,177
Cash and Cash Equivalents	441,957	301,177
Short-term Marketable Securities	0	0
Long-term Marketable Securities	0	0
Level 2:
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,089,182	1,222,290
Gross Unrealized Gains	246	719
Gross Unrealized Losses	(12,320)	(2,518)
Aggregate Fair Value	1,077,108	1,220,491
Cash and Cash Equivalents	163,483	286,099
Short-term Marketable Securities	450,798	426,599
Long-term Marketable Securities	462,827	507,793
Level 2: | Money market instruments
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	160,485	285,099
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Aggregate Fair Value	160,485	285,099
Cash and Cash Equivalents	160,485	285,099
Short-term Marketable Securities	0	0
Long-term Marketable Securities	0	0
Level 2: | Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	585,315	584,000
Gross Unrealized Gains	62	386
Gross Unrealized Losses	(9,815)	(2,086)
Aggregate Fair Value	575,562	582,300
Cash and Cash Equivalents	0	0
Short-term Marketable Securities	240,777	200,304
Long-term Marketable Securities	334,785	381,996
Level 2: | U.S. government agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	237,962	224,774
Gross Unrealized Gains	47	182
Gross Unrealized Losses	(2,059)	(325)
Aggregate Fair Value	235,950	224,631
Cash and Cash Equivalents	0	0
Short-term Marketable Securities	155,716	146,421
Long-term Marketable Securities	80,234	78,210
Level 2: | Commercial paper
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	50,518	68,384
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(10)	0
Aggregate Fair Value	50,508	68,384
Cash and Cash Equivalents	2,998	1,000
Short-term Marketable Securities	47,510	67,384
Long-term Marketable Securities	0	0
Level 2: | Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	51,822	56,936
Gross Unrealized Gains	1	10
Gross Unrealized Losses	(414)	(95)
Aggregate Fair Value	51,409	56,851
Cash and Cash Equivalents	0	0
Short-term Marketable Securities	3,785	9,451
Long-term Marketable Securities	47,624	47,400
Level 2: | Foreign and other
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,080	3,097
Gross Unrealized Gains	136	141
Gross Unrealized Losses	(22)	(12)
Aggregate Fair Value	3,194	3,226
Cash and Cash Equivalents	0	0
Short-term Marketable Securities	3,010	3,039
Long-term Marketable Securities	$ 184	$ 187
Minimum
Schedule of Available-for-sale Securities [Line Items]
Long term marketable securities maturity period	1 year	1 year
Maximum
Schedule of Available-for-sale Securities [Line Items]
Short term marketable securities maturity period	1 year	1 year
Long term marketable securities maturity period	5 years	5 years
[1]	(1) December 31, 2021 balances were derived from the audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022.

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Strategic Investment | Fair Value, Measurements, Recurring
Schedule of Available-for-sale Securities [Line Items]
Strategic investments fair value	$ 16.5	$ 16.5

Supplemental Financial Statem_3

Supplemental Financial Statements Information - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 92,110	$ 80,269
Work-in-process	402,319	415,261
Finished goods	291,927	281,139
Total inventory	$ 786,356	$ 776,669	[1]
[1]	(1) December 31, 2021 balances were derived from the audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022.

Supplemental Financial Statem_4

Supplemental Financial Statements Information - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	[1]
Inventory [Line Items]
Inventory	$ 786,356		$ 776,669
Depreciation expense, net of amounts capitalized into inventory	11,700	$ 12,500
Gain on sale of nonfinancial assets, net	108,000	$ 0
Valoctocogene Roxaparvovec
Inventory [Line Items]
Inventory	$ 11,300
[1]	(1) December 31, 2021 balances were derived from the audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022.

Supplemental Financial Statem_5

Supplemental Financial Statements Information - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Property, plant and equipment, gross	$ 1,780,711	$ 1,756,035
Accumulated depreciation	(741,167)	(720,574)
Property, plant and equipment, net	$ 1,039,544	$ 1,035,461	[1]
[1]	(1) December 31, 2021 balances were derived from the audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022.

Supplemental Financial Statem_6

Supplemental Financial Statements Information - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finite-lived intangible assets	$ 678,601	$ 677,350
Accumulated amortization	(304,350)	(288,698)
Net carrying value	$ 374,251	$ 388,652	[1]
[1]	(1) December 31, 2021 balances were derived from the audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022.

Supplemental Financial Statem_7

Supplemental Financial Statements Information - Schedule of Accounts Payable and Accrued Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts payable and accrued operating expenses	$ 187,810	$ 193,003
Accrued compensation expense	127,938	204,446
Accrued rebates payable	56,295	47,987
Accrued royalties payable	16,026	15,215
Foreign currency exchange forward contracts	12,716	6,263
Lease liabilities	10,829	10,464
Value added taxes payable	5,096	1,935
Accrued income taxes	3,347	1,213
Deferred revenue	306	6,956
Other	6,055	4,108
Total accounts payable and accrued liabilities	$ 426,418	$ 491,590	[1]
[1]	(1) December 31, 2021 balances were derived from the audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022.

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Financial Assets and Liabilities (Detail) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Quoted Price in Active Markets For Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets remeasured	$ 0	$ 0
Liabilities remeasured	0	0
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of other non-current assets	24,900,000	26,869,000
Fair value of financial assets, Total	27,759,000	28,912,000
Fair value of other current liabilities	66,859,000	50,275,000
Fair value of other non-current liabilities		39,096,000
Fair value of financial liabilities, Total	89,246,000	89,371,000
Fair Value, Measurements, Recurring | NQDC Plan liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of other current liabilities	2,859,000	2,043,000
Fair value of other non-current liabilities	22,387,000	23,929,000
Fair Value, Measurements, Recurring | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of other current liabilities	64,000,000	48,232,000
Fair value of other non-current liabilities		15,167,000
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of other non-current assets	24,900,000	26,869,000
Fair value of financial assets, Total	27,759,000	28,912,000
Fair value of other current liabilities	2,859,000	2,043,000
Fair value of other non-current liabilities		23,929,000
Fair value of financial liabilities, Total	25,246,000	25,972,000
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | NQDC Plan liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of other current liabilities	2,859,000	2,043,000
Fair value of other non-current liabilities	22,387,000	23,929,000
Fair Value, Measurements, Recurring | Significant Other Observable Inputs (Level 2) | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of other current liabilities	0	0
Fair value of other non-current liabilities		0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of other non-current assets	0	0
Fair value of financial assets, Total	0	0
Fair value of other current liabilities	64,000,000	48,232,000
Fair value of other non-current liabilities		15,167,000
Fair value of financial liabilities, Total	64,000,000	63,399,000
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | NQDC Plan liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of other current liabilities	0	0
Fair value of other non-current liabilities	0	0
Fair Value, Measurements, Recurring | Significant Unobservable Inputs (Level 3) | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of other current liabilities	64,000,000	48,232,000
Fair value of other non-current liabilities		15,167,000
Fair Value, Measurements, Recurring | NQDC Plan assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of other current assets	2,859,000	2,043,000
Fair value of other non-current assets	22,387,000	23,929,000
Fair Value, Measurements, Recurring | NQDC Plan assets | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of other current assets	2,859,000	2,043,000
Fair value of other non-current assets	22,387,000	23,929,000
Fair Value, Measurements, Recurring | NQDC Plan assets | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of other current assets	0	0
Fair value of other non-current assets	0	0
Fair Value, Measurements, Recurring | Restricted Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of other non-current assets	2,513,000	2,940,000
Fair Value, Measurements, Recurring | Restricted Investments | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of other non-current assets	2,513,000	2,940,000
Fair Value, Measurements, Recurring | Restricted Investments | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of other non-current assets	$ 0	$ 0

Fair Value Measurements - Liabi

Fair Value Measurements - Liabilities Measured at Fair Value on Recurring Basis Using Level 3 Inputs (Detail) - Contingent Payment $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration as of December 31, 2020	$ 63,399
Changes in the fair value of contingent consideration	1,989
Foreign exchange remeasurement of Euro denominated contingent consideration	(1,388)
Contingent consideration as of September 30, 2021	$ 64,000

Derivative Instruments and He_3

Derivative Instruments and Hedging Strategies - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)
Derivative [Line Items]
Amount reclassified from AOCI to earnings as related to forecasted revenue and operating expense transactions	$ 7.6
Derivatives Designated As Hedging Instruments
Derivative [Line Items]
Maturity of derivatives	1 year 9 months
Not Designated as Hedging Instrument
Derivative [Line Items]
Maturity of derivatives	3 months

Derivative Instruments and He_4

Derivative Instruments and Hedging Strategies - Summary of Derivatives Designated as and Not Designated as Hedging Instruments Outstanding (Detail) - Forward Foreign Exchange Contracts - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivatives Designated As Hedging Instruments | Sell
Derivative [Line Items]
Notional amount	$ 650,302	$ 740,667
Derivatives Designated As Hedging Instruments | Purchase
Derivative [Line Items]
Notional amount	147,206	183,256
Not Designated as Hedging Instrument | Sell
Derivative [Line Items]
Notional amount	98,800	113,257
Not Designated as Hedging Instrument | Purchase
Derivative [Line Items]
Notional amount	$ 3,565	$ 31,068

Derivative Instruments and He_5

Derivative Instruments and Hedging Strategies - Fair Value Carrying Amount of Derivatives (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative asset, fair value	$ 24,600	$ 22,775
Derivative liability, fair value	15,700	7,641
Level 2: | Derivatives Designated As Hedging Instruments
Derivative [Line Items]
Derivative asset, fair value	24,502	22,348
Derivative liability, fair value	15,654	6,865
Level 2: | Derivatives Designated As Hedging Instruments | Other current assets
Derivative [Line Items]
Derivative asset, fair value	20,763	17,357
Level 2: | Derivatives Designated As Hedging Instruments | Other assets
Derivative [Line Items]
Derivative asset, fair value	3,739	4,991
Level 2: | Derivatives Designated As Hedging Instruments | Accounts payable and accrued liabilities
Derivative [Line Items]
Derivative liability, fair value	12,670	5,487
Level 2: | Derivatives Designated As Hedging Instruments | Other long-term liabilities
Derivative [Line Items]
Derivative liability, fair value	2,984	1,378
Level 2: | Not Designated as Hedging Instrument | Other current assets
Derivative [Line Items]
Derivative asset, fair value	98	427
Level 2: | Not Designated as Hedging Instrument | Accounts payable and accrued liabilities
Derivative [Line Items]
Derivative liability, fair value	$ 46	$ 776

Derivative Instruments and He_6

Derivative Instruments and Hedging Strategies - Summary of Impact of Gains and Losses from Derivatives Designated as Hedging Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Revenue	$ 519,359	$ 486,030
Operating expenses	382,032	460,944
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gains (Losses) Recognized in Earnings	1,292	4,269
Operating expenses as reported | Derivatives Designated As Hedging Instruments | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Derivative Instruments, Gain (Loss) [Line Items]
Cash Flow Hedging Gains (Losses) Reclassified into Earnings	(1,379)	5
Net product revenues
Derivative Instruments, Gain (Loss) [Line Items]
Revenue	505,525	467,769
Net product revenues | Derivatives Designated As Hedging Instruments | Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent
Derivative Instruments, Gain (Loss) [Line Items]
Cash Flow Hedging Gains (Losses) Reclassified into Earnings	$ 5,572	$ (2,757)

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Mar. 31, 2022	Oct. 31, 2018
Debt Instrument [Line Items]
Carrying value of equity component	$ 1,100,000,000
The 2018 Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 200,000,000
Outstanding amount	$ 0

Debt - Summary of Convertible D

Debt - Summary of Convertible Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Convertible notes	$ 1,100,000
Convertible notes, net of unamortized discount and deferred offering costs	1,080,061	$ 1,079,077	[1]
Total convertible debt, net	1,080,061	1,079,077
Total fair value of fixed-rate convertible debt	$ 1,101,981	$ 1,146,204
1.25% Senior Subordinated Convertible Notes Due in May 2027
Debt Instrument [Line Items]
Convertible notes stated rate	1.25%	1.25%
Convertible notes	$ 600,000	$ 600,000
Unamortized discount net of deferred offering costs	(10,465)	(10,971)
Convertible notes, net of unamortized discount and deferred offering costs	589,535	589,029
Total fair value of fixed-rate convertible debt	$ 604,758	$ 625,122
0.599% Senior Subordinated Convertible Notes Due in August 2024
Debt Instrument [Line Items]
Convertible notes stated rate	0.599%	0.599%
Convertible notes	$ 495,000	$ 495,000
Unamortized discount net of deferred offering costs	(4,474)	(4,952)
Convertible notes, net of unamortized discount and deferred offering costs	490,526	490,048
Total fair value of fixed-rate convertible debt	$ 497,223	$ 521,082
[1]	(1) December 31, 2021 balances were derived from the audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022.

Debt - Summary of Interest Expe

Debt - Summary of Interest Expense on Convertible Debt (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Schedule Of Interest Expenses [Line Items]
Total interest expense on convertible debt	$ 3,806	$ 3,804
Convertible Senior Notes
Schedule Of Interest Expenses [Line Items]
Coupon interest expense	2,616	2,616
Accretion of discount on convertible notes	836	834
Amortization of debt issuance costs	148	148
Total interest expense on convertible debt	$ 3,600	$ 3,598

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Summary of Changes in Accumulated Balances of AOCI Including Current Period Other Comprehensive Income (Loss) and Reclassifications Out of AOCI (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022		Mar. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	[2]	$ 4,270,740	[1]	$ 4,106,002
Other comprehensive income (loss) before      reclassifications		(13,499)		17,948
Less: gain (loss) reclassified from AOCI		4,193		(2,752)
Tax effect		2,383		443
Net current-period other comprehensive income (loss)		(15,309)		21,143
Ending balance		4,391,315		4,162,010
Unrealized Gains (Losses) on Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		15,805		(20,028)
Other comprehensive income (loss) before      reclassifications		(3,225)		19,893
Less: gain (loss) reclassified from AOCI		4,193		(2,752)
Tax effect		0		0
Net current-period other comprehensive income (loss)		(7,418)		22,645
Ending balance		8,387		2,617
Unrealized Gains (Losses) on Available for-Sale Debt Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(1,373)		3,889
Other comprehensive income (loss) before      reclassifications		(10,274)		(1,945)
Less: gain (loss) reclassified from AOCI		0		0
Tax effect		2,383		443
Net current-period other comprehensive income (loss)		(7,891)		(1,502)
Ending balance		(9,264)		2,387
AOCI attributable to parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	[2]	14,432		(16,139)
Ending balance		$ (877)		$ 5,004
[1]	(1) December 31, 2021 balances were derived from the audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022.
[2]	The beginning balances for the three-month periods were derived from the audited Consolidated Financial Statements included in Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022.

Revenue, Credit Concentration_3

Revenue, Credit Concentrations and Geographic Information - Additional Information (Detail) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022USD ($)Segment	Dec. 31, 2021USD ($)
Concentration Risk And Geographic Information [Line Items]
Number of operating business segment | Segment	1
Accounts receivable, net	$ 430,147	$ 373,399	[1]
Customers
Concentration Risk And Geographic Information [Line Items]
Accounts receivable, net	$ 61,400	$ 67,900
Credit Concentration Risk | Accounts Receivable | Customer One
Concentration Risk And Geographic Information [Line Items]
Concentration risk, percentage	21.00%	28.00%
Credit Concentration Risk | Accounts Receivable | Customer Two
Concentration Risk And Geographic Information [Line Items]
Concentration risk, percentage	14.00%	16.00%
[1]	(1) December 31, 2021 balances were derived from the audited Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on February 25, 2022.

Revenue, Credit Concentration_4

Revenue, Credit Concentrations and Geographic Information - Disaggregates of Net Product Revenues by Product (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue from External Customer [Line Items]
Revenue	$ 519,359	$ 486,030
Product
Revenue from External Customer [Line Items]
Revenue	505,525	467,769
Vimizim | Marketed by Company
Revenue from External Customer [Line Items]
Revenue	183,059	158,298
Naglazyme | Marketed by Company
Revenue from External Customer [Line Items]
Revenue	128,031	107,336
Kuvan | Marketed by Company
Revenue from External Customer [Line Items]
Revenue	59,337	70,763
Palynziq | Marketed by Company
Revenue from External Customer [Line Items]
Revenue	54,885	54,038
Brineura | Marketed by Company
Revenue from External Customer [Line Items]
Revenue	36,173	27,325
Voxzogo | Marketed by Company
Revenue from External Customer [Line Items]
Revenue	19,658	0
Brineura, Kuvan, Naglazyme, Palynziq, and Vimizim | Marketed by Company
Revenue from External Customer [Line Items]
Revenue	481,143	417,760
Aldurazyme | Marketed by Sanofi
Revenue from External Customer [Line Items]
Revenue	24,382	50,009
Royalty and other revenues
Revenue from External Customer [Line Items]
Revenue	$ 13,834	$ 18,261

Revenue, Credit Concentration_5

Revenue, Credit Concentrations and Geographic Information - Disaggregates of Total Net Product Revenues Based on Patient Location (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 519,359	$ 486,030
Product
Disaggregation of Revenue [Line Items]
Revenue	505,525	467,769
Marketed by Company | Brineura, Kuvan, Naglazyme, Palynziq, and Vimizim
Disaggregation of Revenue [Line Items]
Revenue	481,143	417,760
Marketed by Company | Brineura, Kuvan, Naglazyme, Palynziq, and Vimizim | Europe
Disaggregation of Revenue [Line Items]
Revenue	156,832	148,872
Marketed by Company | Brineura, Kuvan, Naglazyme, Palynziq, and Vimizim | United States
Disaggregation of Revenue [Line Items]
Revenue	150,815	155,064
Marketed by Company | Brineura, Kuvan, Naglazyme, Palynziq, and Vimizim | Middle East
Disaggregation of Revenue [Line Items]
Revenue	65,607	15,559
Marketed by Company | Brineura, Kuvan, Naglazyme, Palynziq, and Vimizim | Latin America
Disaggregation of Revenue [Line Items]
Revenue	62,544	59,705
Marketed by Company | Brineura, Kuvan, Naglazyme, Palynziq, and Vimizim | Rest of world
Disaggregation of Revenue [Line Items]
Revenue	45,345	38,560
Marketed by Sanofi | Aldurazyme
Disaggregation of Revenue [Line Items]
Revenue	$ 24,382	$ 50,009

Revenue, Credit Concentration_6

Revenue, Credit Concentrations and Geographic Information - Total Net Product Revenue Concentrations Attributed to Largest Customers (Detail) - Customer Concentration Risk - Net Product Revenue	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Customer A, B, C, & D
Concentration Risk [Line Items]
Concentration risk, percentage	41.00%	48.00%
Customer A
Concentration Risk [Line Items]
Concentration risk, percentage	17.00%	16.00%
Customer B
Concentration Risk [Line Items]
Concentration risk, percentage	11.00%	12.00%
Customer C
Concentration Risk [Line Items]
Concentration risk, percentage	8.00%	9.00%
Customer D
Concentration Risk [Line Items]
Concentration risk, percentage	5.00%	11.00%

Stock-Based Compensation - Expe

Stock-Based Compensation - Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 47,833	$ 49,503
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	4,326	6,481
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	17,190	17,517
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 26,317	$ 25,505

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense capitalized to inventory	$ 5.2	$ 4.4

Net Income Per Common Share - S

Net Income Per Common Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net Income, basic	$ 120,798	$ 17,371
Add: Interest expense, net of tax, on convertible notes	2,763	0
Net Income, diluted	$ 123,561	$ 17,371
Denominator:
Weighted average common shares outstanding, basic (in shares)	183,990	181,772
Effect of dilutive securities:
Weighted average common shares outstanding, diluted (in shares)	194,886	184,365
Net income per common share, basic (in dollars per share)	$ 0.66	$ 0.10
Net income per common share, diluted (in dollars per share)	$ 0.63	$ 0.09
Options to purchase common stock
Effect of dilutive securities:
Effect of dilutive securities (in shares)	564	1,010
Common stock issuable under the 2027 Notes
Effect of dilutive securities:
Effect of dilutive securities (in shares)	4,365	0
Common stock issuable under the 2024 Notes
Effect of dilutive securities:
Effect of dilutive securities (in shares)	3,970	0
Unvested RSUs
Effect of dilutive securities:
Effect of dilutive securities (in shares)	1,517	1,031
Common stock potentially issuable for ESPP purchases
Effect of dilutive securities:
Effect of dilutive securities (in shares)	307	359
The Company’s common stock held by the NQDC
Effect of dilutive securities:
Effect of dilutive securities (in shares)	173	193

Net Income Per Common Share -_2

Net Income Per Common Share - Schedule Of Anti-Dilutive Common Stock Excluded From Computation of Diluted Net Loss Per Share (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total number of potentially issuable shares (in shares)	10,927	18,773
Options to purchase common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total number of potentially issuable shares (in shares)	6,206	6,217
Common stock issuable under the 2027 Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total number of potentially issuable shares (in shares)	0	4,365
Common stock issuable under the 2024 Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total number of potentially issuable shares (in shares)	0	3,970
Unvested RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total number of potentially issuable shares (in shares)	4,463	3,920
Common stock potentially issuable for ESPP purchases
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total number of potentially issuable shares (in shares)	258	301

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Jun. 30, 2020
Commitments And Contingencies [Line Items]
Contingent payments upon achievement of certain development and regulatory activities and commercial sales and licensing milestones	$ 788.5
Purchase commitments and other minimum contractual obligations	$ 117.5
Early Stage Development Program | Third Party
Commitments And Contingencies [Line Items]
Contingent payments upon achievement of certain development and regulatory activities and commercial sales and licensing milestones		$ 389	$ 225