BioMarin Pharmaceutical (BMRN) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Jul. 28, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 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		185,473,867
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001048477
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	[1]
Current assets:
Cash and cash equivalents	$ 619,802	$ 587,276
Short-term investments	489,945	426,599
Accounts receivable, net	466,507	373,399
Inventory	802,315	776,669
Other current assets	139,029	110,442
Total current assets	2,517,598	2,274,385
Noncurrent assets:
Long-term investments	412,503	507,793
Property, plant and equipment, net	1,049,464	1,035,461
Intangible assets, net	369,368	388,652
Goodwill	196,199	196,199
Deferred tax assets	1,448,912	1,449,075
Other assets	151,797	151,760
Total assets	6,145,841	6,003,325
Current liabilities:
Accounts payable and accrued liabilities	434,773	491,590
Short-term contingent consideration	29,954	48,232
Total current liabilities	464,727	539,822
Noncurrent liabilities:
Long-term convertible debt, net	1,081,047	1,079,077
Long-term contingent consideration	0	15,167
Other long-term liabilities	95,260	98,519
Total liabilities	1,641,034	1,732,585
Stockholders’ equity:
Common stock, $0.001 par value: 500,000,000 shares authorized; 185,452,454 and 183,912,514 shares issued and outstanding, respectively	186	184
Additional paid-in capital	5,272,666	5,191,502
Company common stock held by the Nonqualified Deferred Compensation Plan	(9,290)	(9,689)
Accumulated other comprehensive income	18,472	14,432
Accumulated deficit	(777,227)	(925,689)
Total stockholders’ equity	4,504,807	4,270,740	[2]
Total liabilities and stockholders’ equity	$ 6,145,841	$ 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.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 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)	185,452,454	183,912,514
Common stock, shares outstanding (in shares)	185,452,454	183,912,514

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
REVENUES:
Total revenues	$ 533,798	$ 501,693	$ 1,053,157	$ 987,723
OPERATING EXPENSES:
Cost of sales	123,126	127,062	240,091	247,228
Research and development	158,190	161,107	319,026	309,832
Selling, general and administrative	196,835	184,161	391,454	358,479
Intangible asset amortization and contingent consideration	16,495	17,691	34,107	35,426
Gain on sale of nonfinancial assets, net	0	0	(108,000)	0
Total operating expenses	494,646	490,021	876,678	950,965
INCOME FROM OPERATIONS	39,152	11,672	176,479	36,758
Interest income	2,505	4,471	4,325	6,910
Interest expense	(3,859)	(3,817)	(7,665)	(7,621)
Other income (expense), net	(2,947)	1,830	(4,101)	1,337
INCOME BEFORE INCOME TAXES	34,851	14,156	169,038	37,384
Provision for income taxes	7,187	1,215	20,576	7,072
NET INCOME	$ 27,664	$ 12,941	$ 148,462	$ 30,312
NET INCOME PER SHARE, BASIC (in dollars per share)	$ 0.15	$ 0.07	$ 0.80	$ 0.17
NET INCOME PER SHARE, DILUTED (in dollars per share)	$ 0.15	$ 0.07	$ 0.79	$ 0.16
Weighted average common shares outstanding, basic (in shares)	185,254	182,844	184,710	182,311
Weighted average common shares outstanding, diluted (in shares)	187,448	185,427	191,096	185,089
COMPREHENSIVE INCOME	$ 47,013	$ 6,998	$ 152,502	$ 45,512
Net product revenues
REVENUES:
Total revenues	517,660	486,670	1,023,185	954,439
Royalty and other revenues
REVENUES:
Total revenues	$ 16,138	$ 15,023	$ 29,972	$ 33,284

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)				1,581
Ending balance (in shares) at Jun. 30, 2021				183,322
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	(11,091)
Stock-based compensation					101,147
Common stock held by the Nonqualified Deferred Compensation Plan (the NQDC)					368	(368)
Other comprehensive income (loss)							15,200
Net income		30,312						30,312
Ending balance at Jun. 30, 2021		4,241,571		$ 183	5,083,831	(10,207)	(939)	(831,297)
Beginning balance (in shares) at Mar. 31, 2021				182,671
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances under equity incentive plans (in shares)				651
Ending balance (in shares) at Jun. 30, 2021				183,322
Beginning balance at Mar. 31, 2021		4,162,010		$ 183	5,010,619	(9,558)	5,004	(844,238)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances under equity incentive plans, net of tax					18,825
Stock-based compensation					53,738
Common stock held by the Nonqualified Deferred Compensation Plan (the NQDC)					649	(649)
Other comprehensive income (loss)							(5,943)
Net income		12,941						12,941
Ending balance at Jun. 30, 2021		4,241,571		$ 183	5,083,831	(10,207)	(939)	(831,297)
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)				1,540
Ending balance (in shares) at Jun. 30, 2022				185,453
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				2	(15,153)
Stock-based compensation					96,716
Common stock held by the Nonqualified Deferred Compensation Plan (the NQDC)					(399)	399
Other comprehensive income (loss)							4,040
Net income		148,462						148,462
Ending balance at Jun. 30, 2022		4,504,807		$ 186	5,272,666	(9,290)	18,472	(777,227)
Beginning balance (in shares) at Mar. 31, 2022				184,902
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances under equity incentive plans (in shares)				551
Ending balance (in shares) at Jun. 30, 2022				185,453
Beginning balance at Mar. 31, 2022		4,391,315		$ 185	5,206,287	(9,389)	(877)	(804,891)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuances under equity incentive plans, net of tax				1	18,480
Stock-based compensation					47,998
Common stock held by the Nonqualified Deferred Compensation Plan (the NQDC)					(99)	99
Other comprehensive income (loss)							19,349
Net income		27,664						27,664
Ending balance at Jun. 30, 2022		$ 4,504,807		$ 186	$ 5,272,666	$ (9,290)	$ 18,472	$ (777,227)
[1]The beginning balances for the six-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	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 148,462	$ 30,312
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	52,614	55,214
Non-cash interest expense	2,062	2,082
Amortization of premium on investments	3,070	1,878
Stock-based compensation	94,911	104,346
Gain on sale of nonfinancial assets, net	(108,000)	0
Deferred income taxes	3,455	1,204
Unrealized foreign exchange gain	(12,333)	(1,004)
Non-cash changes in the fair value of contingent consideration	1,338	4,488
Other	(18)	(376)
Changes in operating assets and liabilities:
Accounts receivable, net	(92,562)	17,420
Inventory	(1,431)	6,379
Other current assets	(12,001)	34,331
Other assets	9,149	321
Accounts payable and other short-term liabilities	(76,345)	(60,884)
Other long-term liabilities	(1,576)	585
Net cash provided by operating activities	10,795	196,296
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(55,971)	(48,106)
Maturities and sales of investments	311,598	348,941
Purchases of investments	(304,805)	(484,572)
Proceeds from sale of nonfinancial assets	110,000	0
Purchase of intangible assets	(2,739)	(6,400)
Other	0	(908)
Net cash provided by (used in) investing activities	58,083	(191,045)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercises of awards under equity incentive plans	29,493	27,640
Taxes paid related to net share settlement of equity awards	(44,377)	(38,731)
Payment of contingent consideration	(21,054)	0
Principal repayments of financing leases	(1,122)	(1,941)
Other	0	(381)
Net cash used in financing activities	(37,060)	(13,413)
Effect of exchange rate changes on cash	708	537
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	32,526	(7,625)
Cash and cash equivalents:
Beginning of period	587,276	649,158
End of period	619,802	641,533
SUPPLEMENTAL CASH FLOW DISCLOSURES:
Cash paid for income taxes	11,821	10,159
Cash paid for interest	5,137	5,195
SUPPLEMENTAL CASH FLOW DISCLOSURES FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:
Increase (decrease) in accounts payable and accrued liabilities related to fixed assets	1,012	(9,393)
Increase in accounts payable and accrued liabilities related to intangible assets	$ 6,563	$ 1,397

BUSINESS OVERVIEW AND SIGNIFICA

BUSINESS OVERVIEW AND SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 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 six months ended June 30, 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 six months ended June 30, 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	6 Months Ended
	Jun. 30, 2022
Investments, Debt and Equity Securities [Abstract]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS All marketable securities were classified as available-for-sale at June 30, 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: June 30, 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 $ 355,318 $ — $ — $ 355,318 $ 355,318 $ — $ — Level 2: Money market instruments 264,484 — — 264,484 264,484 — — Corporate debt securities 560,401 3 (12,450) 547,954 — 273,400 274,554 U.S. government agency securities 263,184 15 (2,734) 260,465 — 180,952 79,513 Commercial paper 33,107 — (23) 33,084 — 33,084 — Asset-backed securities 58,888 8 (633) 58,263 — — 58,263 Foreign and other 2,562 124 (4) 2,682 — 2,509 173 Subtotal 1,182,626 150 (15,844) 1,166,932 264,484 489,945 412,503 Total $ 1,537,944 $ 150 $ (15,844) $ 1,522,250 $ 619,802 $ 489,945 $ 412,503 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 June 30, 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	6 Months Ended
	Jun. 30, 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: June 30, December 31, Raw materials $ 104,493 $ 80,269 Work-in-process 429,486 415,261 Finished goods 268,336 281,139 Total inventory $ 802,315 $ 776,669 Inventory as of June 30, 2022, included manufacturing-related costs for the commercial production of valoctocogene roxaparvovec totaling $31.8 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 authority following the submission of the additional two-year follow-up safety and efficacy data requested by the regulatory authority 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: June 30, December 31, Property, plant and equipment, gross $ 1,811,263 $ 1,756,035 Accumulated depreciation (761,799) (720,574) Total property, plant and equipment, net $ 1,049,464 $ 1,035,461 Depreciation expense, net of amounts capitalized into inventory, for the three and six months ended June 30, 2022 was $9.5 million and $21.2 million, respectively. Depreciation expense, net of amounts capitalized into inventory, for the three and six months ended June 30, 2021 was $11.8 million and $24.3 million, respectively. Intangible Assets, Net consisted of the following: June 30, December 31, Finite-lived intangible assets $ 689,499 $ 677,350 Accumulated amortization (320,131) (288,698) Net carrying value $ 369,368 $ 388,652 Accounts Payable and Accrued Liabilities consisted of the following: June 30, December 31, Accounts payable and accrued operating expenses $ 199,251 $ 193,003 Accrued compensation expense 127,929 204,446 Accrued rebates payable 62,485 47,987 Accrued royalties payable 15,620 15,215 Foreign currency exchange forward contracts 10,224 6,263 Lease liabilities 10,611 10,464 Value added taxes payable 2,472 1,935 Accrued income taxes 1,568 1,213 Deferred revenue 305 6,956 Other 4,308 4,108 Total accounts payable and accrued liabilities $ 434,773 $ 491,590 Supplemental Statement of Comprehensive Income Information Gain on Sale of Nonfinancial Assets, Net for the six months ended June 30, 2022 consisted of the completed sale of a Rare Pediatric Disease Priority Review Voucher (PRV) the Company received from the Food and Drug Administration (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	6 Months Ended
	Jun. 30, 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 June 30, 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 June 30, 2022 or December 31, 2021. Fair Value Measurements as of June 30, 2022 Significant Other Significant Total Assets: Other current assets: NQDC Plan assets $ 2,232 $ — $ 2,232 Other assets: NQDC Plan assets 19,336 — 19,336 Restricted investments (1) 2,468 — 2,468 Total other assets 21,804 — 21,804 Total assets $ 24,036 $ — $ 24,036 Liabilities: Current liabilities: NQDC Plan liability $ 2,232 $ — $ 2,232 Contingent consideration — 29,954 29,954 Total current liabilities 2,232 29,954 32,186 Other long-term liabilities: NQDC Plan liability 19,336 — 19,336 Total liabilities $ 21,568 $ 29,954 $ 51,522 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 June 30, 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 and six months ended June 30, 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 Milestone payments to Ares Trading S.A. (Merck Serono) (33,293) Realized foreign exchange gain on settlement of contingent consideration (133) Changes in fair value of contingent consideration 2,860 Foreign exchange remeasurement of Euro denominated contingent consideration (2,879) Contingent consideration as of June 30, 2022 $ 29,954

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES	6 Months Ended
	Jun. 30, 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 two years. 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 June 30, December 31, 2021 Derivatives designated as hedging instruments: Sell $ 585,370 $ 740,667 Purchase $ 121,257 $ 183,256 Derivatives not designated as hedging instruments: Sell $ 113,793 $ 113,257 Purchase $ — $ 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 June 30, December 31, 2021 Derivatives designated as hedging instruments: Asset Derivatives - Level 2 (1) Other current assets $ 35,654 $ 17,357 Other assets 6,853 4,991 Subtotal $ 42,507 $ 22,348 Liability Derivatives - Level 2 (1) Accounts payable and accrued liabilities $ 10,151 $ 5,487 Other long-term liabilities 1,848 1,378 Subtotal $ 11,999 $ 6,865 Derivatives not designated as hedging instruments: Asset Derivatives - Level 2 (1) Other current assets $ 18 $ 427 Liability Derivatives - Level 2 (1) Accounts payable and accrued liabilities $ 73 $ 776 Total Derivatives Assets $ 42,525 $ 22,775 Total Derivatives Liabilities $ 12,072 $ 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 June 30, 2022 2021 Derivatives Designated as Cash Flow Hedging Instruments Cash Flow Hedging Gains (Losses) Cash Flow Hedging Gains (Losses) Net product revenues as reported $ 517,660 $ 5,927 $ 486,670 $ (2,678) Operating expenses as reported $ 494,646 $ (1,800) $ 490,021 $ 344 Derivatives Not Designated as Hedging Instruments Gains (Losses) Recognized in Earnings Gains (Losses) Recognized in Earnings Operating expenses $ 4,950 $ (3,260) Six Months Ended June 30, 2022 2021 Derivatives Designated as Cash Flow Hedging Instruments Cash Flow Hedging Gains (Losses) Cash Flow Hedging Gains (Losses) Net product revenues as reported $ 1,023,185 $ 11,499 $ 954,439 $ (5,435) Operating expenses as reported $ 876,678 $ (3,179) $ 950,965 $ 349 Derivatives Not Designated as Hedging Instruments Gains (Losses) Recognized in Earnings Gains (Losses) Recognized in Earnings Operating expenses $ 6,241 $ 1,009 As of June 30, 2022, the Company expects to reclassify unrealized gains of $25.5 million from Accumulated Other Comprehensive Income (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	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
DEBT	DEBT Convertible Notes As of June 30, 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: June 30, 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 (9,957) (10,971) 2027 Notes, net 590,043 589,029 0.599% senior subordinated convertible notes due in August 2024 (the 2024 Notes) 495,000 495,000 Unamortized discount net of deferred offering costs (3,996) (4,952) 2024 Notes, net 491,004 490,048 Total convertible debt, net $ 1,081,047 $ 1,079,077 Fair value of fixed-rate convertible debt (1) : 2027 Notes $ 602,436 $ 625,122 2024 Notes 490,401 521,082 Total fair value of fixed-rate convertible debt $ 1,092,837 $ 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 Six Months Ended 2022 2021 2022 2021 Coupon interest expense $ 2,617 $ 2,616 $ 5,233 $ 5,232 Accretion of discount on convertible notes 837 834 1,673 1,668 Amortization of debt issuance costs 148 148 297 296 Total interest expense on convertible debt $ 3,602 $ 3,598 $ 7,203 $ 7,196 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 June 30, 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	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME	ACCUMULATED OTHER COMPREHENSIVE INCOME The following tables summarize changes in the accumulated balances for each component of AOCI, including current-period other comprehensive income and reclassifications out of AOCI, for the periods presented. Three Months Ended June 30, 2022 Unrealized Gains Unrealized Gains Total AOCI balance at March 31, 2022 $ 8,387 $ (9,264) $ (877) Other comprehensive income (loss) before 26,255 (3,620) 22,635 Less: gain (loss) reclassified from AOCI 4,127 — 4,127 Tax effect — 841 841 Net current-period other comprehensive income (loss) 22,128 (2,779) 19,349 AOCI balance at June 30, 2022 $ 30,515 $ (12,043) $ 18,472 Three Months Ended June 30, 2021 Unrealized Gains Unrealized Gains Total AOCI balance at March 31, 2021 $ 2,617 $ 2,387 $ 5,004 Other comprehensive income (loss) before (7,711) (739) (8,450) Less: gain (loss) reclassified from AOCI (2,334) — (2,334) Tax effect — 173 173 Net current-period other comprehensive income (loss) (5,377) (566) (5,943) AOCI balance at June 30, 2021 $ (2,760) $ 1,821 $ (939) Six Months Ended June 30, 2022 Unrealized Gains Unrealized Gains Total AOCI balance at December 31, 2021 $ 15,805 $ (1,373) $ 14,432 Other comprehensive income (loss) before 23,030 (13,894) 9,136 Less: gain (loss) reclassified from AOCI 8,320 — 8,320 Tax effect — 3,224 3,224 Net current-period other comprehensive income (loss) 14,710 (10,670) 4,040 AOCI balance at June 30, 2022 $ 30,515 $ (12,043) $ 18,472 Six Months Ended June 30, 2021 Unrealized Gains Unrealized Gains Total AOCI balance at December 31, 2020 $ (20,028) $ 3,889 $ (16,139) Other comprehensive income (loss) before 12,182 (2,684) 9,498 Less: gain (loss) reclassified from AOCI (5,086) — (5,086) Tax effect — 616 616 Net current-period other comprehensive income (loss) 17,268 (2,068) 15,200 AOCI balance at June 30, 2021 $ (2,760) $ 1,821 $ (939) For additional discussion of reclassifications from AOCI see Note 5 – Derivative Instruments and Hedging Strategies .

REVENUE, CREDIT CONCENTRATIONS

REVENUE, CREDIT CONCENTRATIONS AND GEOGRAPHIC INFORMATION	6 Months Ended
	Jun. 30, 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 Six Months Ended 2022 2021 2022 2021 Net product revenues by product: Vimizim $ 173,206 $ 171,655 $ 356,265 $ 329,953 Naglazyme 115,783 118,813 243,814 226,149 Palynziq 61,643 58,935 116,528 112,973 Kuvan 57,602 78,807 116,939 149,570 Brineura 37,725 30,332 73,898 57,657 Voxzogo 34,374 — 54,032 — Total net product revenues marketed by the Company 480,333 458,542 961,476 876,302 Aldurazyme net product revenues marketed by Sanofi 37,327 28,128 61,709 78,137 Total net product revenues 517,660 486,670 1,023,185 954,439 Royalty and other revenues 16,138 15,023 29,972 33,284 Total revenues $ 533,798 $ 501,693 $ 1,053,157 $ 987,723 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 Six Months Ended 2022 2021 2022 2021 United States $ 169,838 $ 169,411 $ 320,653 $ 324,474 Europe 161,230 166,704 318,062 315,576 Latin America 89,911 42,248 152,455 101,953 Rest of world 59,354 80,179 170,306 134,299 Total net product revenues marketed by the Company $ 480,333 $ 458,542 $ 961,476 $ 876,302 Aldurazyme net product revenues marketed by Sanofi 37,327 28,128 61,709 78,137 Total net product revenues $ 517,660 $ 486,670 $ 1,023,185 $ 954,439 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 Six Months Ended 2022 2021 2022 2021 Customer A 16 % 16 % 16 % 16 % Customer B 12 % 13 % 12 % 13 % Customer C 5 % 12 % 5 % 10 % Total 33 % 41 % 33 % 39 % On a consolidated basis, two customers accounted for 21% and 16% of the Company’s June 30, 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 June 30, 2022, and December 31, 2021, the accounts receivable balance for Sanofi included $69.5 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 six months ended June 30, 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	6 Months Ended
	Jun. 30, 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 common stock granted under the Company’s Employee Share Purchase Plan (ESPP) 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 Six Months Ended 2022 2021 2022 2021 Cost of sales $ 4,762 $ 6,087 $ 9,088 $ 12,568 Research and development 13,633 20,816 30,823 38,333 Selling, general and administrative 28,683 27,940 55,000 53,445 Total stock-based compensation expense $ 47,078 $ 54,843 $ 94,911 $ 104,346

NET INCOME PER COMMON SHARE

NET INCOME PER COMMON SHARE	6 Months Ended
	Jun. 30, 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 ESPP, unvested RSUs 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 Six Months Ended 2022 2021 2022 2021 Numerator: Net Income, basic $ 27,664 $ 12,941 $ 148,462 $ 30,312 Add: Interest expense, net of tax, on convertible notes — — 1,871 — Net Income, diluted $ 27,664 $ 12,941 $ 150,333 $ 30,312 Denominator: Weighted-average common shares outstanding, basic 185,254 182,844 184,710 182,311 Effect of dilutive securities: Issuances under equity incentive plans 2,194 2,583 2,416 2,778 Common stock issuable under the 2024 Notes — — 3,970 — Weighted-average common shares outstanding, diluted 187,448 185,427 191,096 185,089 Net income per common share, basic $ 0.15 $ 0.07 $ 0.80 $ 0.17 Net income per common share, diluted $ 0.15 $ 0.07 $ 0.79 $ 0.16 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 June 30, Six Months Ended 2022 2021 2022 2021 Issuances under equity incentive plans 10,659 10,169 10,438 9,975 Common stock issuable under the Company's convertible notes 8,335 8,335 4,365 8,335 Total number of potentially issuable shares 18,994 18,504 14,803 18,310

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 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 June 30, 2022, the Company was subject to contingent payments considered reasonably possible of $778.0 million, including $381.5 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 Research and Development (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 June 30, 2022, such commitments were estimated at approximately $140.8 million. The Company has also licensed technology from third parties, 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)	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 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 six months ended June 30, 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)	6 Months Ended
	Jun. 30, 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: June 30, 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 $ 355,318 $ — $ — $ 355,318 $ 355,318 $ — $ — Level 2: Money market instruments 264,484 — — 264,484 264,484 — — Corporate debt securities 560,401 3 (12,450) 547,954 — 273,400 274,554 U.S. government agency securities 263,184 15 (2,734) 260,465 — 180,952 79,513 Commercial paper 33,107 — (23) 33,084 — 33,084 — Asset-backed securities 58,888 8 (633) 58,263 — — 58,263 Foreign and other 2,562 124 (4) 2,682 — 2,509 173 Subtotal 1,182,626 150 (15,844) 1,166,932 264,484 489,945 412,503 Total $ 1,537,944 $ 150 $ (15,844) $ 1,522,250 $ 619,802 $ 489,945 $ 412,503 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)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Inventory	Inventory consisted of the following: June 30, December 31, Raw materials $ 104,493 $ 80,269 Work-in-process 429,486 415,261 Finished goods 268,336 281,139 Total inventory $ 802,315 $ 776,669
Schedule of Property Plant and Equipment Net	Property, Plant and Equipment, Net consisted of the following: June 30, December 31, Property, plant and equipment, gross $ 1,811,263 $ 1,756,035 Accumulated depreciation (761,799) (720,574) Total property, plant and equipment, net $ 1,049,464 $ 1,035,461
Schedule of Intangible Assets	Intangible Assets, Net consisted of the following: June 30, December 31, Finite-lived intangible assets $ 689,499 $ 677,350 Accumulated amortization (320,131) (288,698) Net carrying value $ 369,368 $ 388,652
Schedule of Accounts Payable and Accrued Liabilities	Accounts Payable and Accrued Liabilities consisted of the following: June 30, December 31, Accounts payable and accrued operating expenses $ 199,251 $ 193,003 Accrued compensation expense 127,929 204,446 Accrued rebates payable 62,485 47,987 Accrued royalties payable 15,620 15,215 Foreign currency exchange forward contracts 10,224 6,263 Lease liabilities 10,611 10,464 Value added taxes payable 2,472 1,935 Accrued income taxes 1,568 1,213 Deferred revenue 305 6,956 Other 4,308 4,108 Total accounts payable and accrued liabilities $ 434,773 $ 491,590

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 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 June 30, 2022 or December 31, 2021. Fair Value Measurements as of June 30, 2022 Significant Other Significant Total Assets: Other current assets: NQDC Plan assets $ 2,232 $ — $ 2,232 Other assets: NQDC Plan assets 19,336 — 19,336 Restricted investments (1) 2,468 — 2,468 Total other assets 21,804 — 21,804 Total assets $ 24,036 $ — $ 24,036 Liabilities: Current liabilities: NQDC Plan liability $ 2,232 $ — $ 2,232 Contingent consideration — 29,954 29,954 Total current liabilities 2,232 29,954 32,186 Other long-term liabilities: NQDC Plan liability 19,336 — 19,336 Total liabilities $ 21,568 $ 29,954 $ 51,522 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
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 Milestone payments to Ares Trading S.A. (Merck Serono) (33,293) Realized foreign exchange gain on settlement of contingent consideration (133) Changes in fair value of contingent consideration 2,860 Foreign exchange remeasurement of Euro denominated contingent consideration (2,879) Contingent consideration as of June 30, 2022 $ 29,954

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES (Tables)	6 Months Ended
	Jun. 30, 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 June 30, December 31, 2021 Derivatives designated as hedging instruments: Sell $ 585,370 $ 740,667 Purchase $ 121,257 $ 183,256 Derivatives not designated as hedging instruments: Sell $ 113,793 $ 113,257 Purchase $ — $ 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 June 30, December 31, 2021 Derivatives designated as hedging instruments: Asset Derivatives - Level 2 (1) Other current assets $ 35,654 $ 17,357 Other assets 6,853 4,991 Subtotal $ 42,507 $ 22,348 Liability Derivatives - Level 2 (1) Accounts payable and accrued liabilities $ 10,151 $ 5,487 Other long-term liabilities 1,848 1,378 Subtotal $ 11,999 $ 6,865 Derivatives not designated as hedging instruments: Asset Derivatives - Level 2 (1) Other current assets $ 18 $ 427 Liability Derivatives - Level 2 (1) Accounts payable and accrued liabilities $ 73 $ 776 Total Derivatives Assets $ 42,525 $ 22,775 Total Derivatives Liabilities $ 12,072 $ 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 June 30, 2022 2021 Derivatives Designated as Cash Flow Hedging Instruments Cash Flow Hedging Gains (Losses) Cash Flow Hedging Gains (Losses) Net product revenues as reported $ 517,660 $ 5,927 $ 486,670 $ (2,678) Operating expenses as reported $ 494,646 $ (1,800) $ 490,021 $ 344 Derivatives Not Designated as Hedging Instruments Gains (Losses) Recognized in Earnings Gains (Losses) Recognized in Earnings Operating expenses $ 4,950 $ (3,260) Six Months Ended June 30, 2022 2021 Derivatives Designated as Cash Flow Hedging Instruments Cash Flow Hedging Gains (Losses) Cash Flow Hedging Gains (Losses) Net product revenues as reported $ 1,023,185 $ 11,499 $ 954,439 $ (5,435) Operating expenses as reported $ 876,678 $ (3,179) $ 950,965 $ 349 Derivatives Not Designated as Hedging Instruments Gains (Losses) Recognized in Earnings Gains (Losses) Recognized in Earnings Operating expenses $ 6,241 $ 1,009

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Summary of Convertible Debt	The following table summarizes information regarding the Company’s convertible debt: June 30, 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 (9,957) (10,971) 2027 Notes, net 590,043 589,029 0.599% senior subordinated convertible notes due in August 2024 (the 2024 Notes) 495,000 495,000 Unamortized discount net of deferred offering costs (3,996) (4,952) 2024 Notes, net 491,004 490,048 Total convertible debt, net $ 1,081,047 $ 1,079,077 Fair value of fixed-rate convertible debt (1) : 2027 Notes $ 602,436 $ 625,122 2024 Notes 490,401 521,082 Total fair value of fixed-rate convertible debt $ 1,092,837 $ 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 Six Months Ended 2022 2021 2022 2021 Coupon interest expense $ 2,617 $ 2,616 $ 5,233 $ 5,232 Accretion of discount on convertible notes 837 834 1,673 1,668 Amortization of debt issuance costs 148 148 297 296 Total interest expense on convertible debt $ 3,602 $ 3,598 $ 7,203 $ 7,196

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)	6 Months Ended
	Jun. 30, 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 and reclassifications out of AOCI, for the periods presented. Three Months Ended June 30, 2022 Unrealized Gains Unrealized Gains Total AOCI balance at March 31, 2022 $ 8,387 $ (9,264) $ (877) Other comprehensive income (loss) before 26,255 (3,620) 22,635 Less: gain (loss) reclassified from AOCI 4,127 — 4,127 Tax effect — 841 841 Net current-period other comprehensive income (loss) 22,128 (2,779) 19,349 AOCI balance at June 30, 2022 $ 30,515 $ (12,043) $ 18,472 Three Months Ended June 30, 2021 Unrealized Gains Unrealized Gains Total AOCI balance at March 31, 2021 $ 2,617 $ 2,387 $ 5,004 Other comprehensive income (loss) before (7,711) (739) (8,450) Less: gain (loss) reclassified from AOCI (2,334) — (2,334) Tax effect — 173 173 Net current-period other comprehensive income (loss) (5,377) (566) (5,943) AOCI balance at June 30, 2021 $ (2,760) $ 1,821 $ (939) Six Months Ended June 30, 2022 Unrealized Gains Unrealized Gains Total AOCI balance at December 31, 2021 $ 15,805 $ (1,373) $ 14,432 Other comprehensive income (loss) before 23,030 (13,894) 9,136 Less: gain (loss) reclassified from AOCI 8,320 — 8,320 Tax effect — 3,224 3,224 Net current-period other comprehensive income (loss) 14,710 (10,670) 4,040 AOCI balance at June 30, 2022 $ 30,515 $ (12,043) $ 18,472 Six Months Ended June 30, 2021 Unrealized Gains Unrealized Gains Total AOCI balance at December 31, 2020 $ (20,028) $ 3,889 $ (16,139) Other comprehensive income (loss) before 12,182 (2,684) 9,498 Less: gain (loss) reclassified from AOCI (5,086) — (5,086) Tax effect — 616 616 Net current-period other comprehensive income (loss) 17,268 (2,068) 15,200 AOCI balance at June 30, 2021 $ (2,760) $ 1,821 $ (939)

REVENUE, CREDIT CONCENTRATION_2

REVENUE, CREDIT CONCENTRATIONS AND GEOGRAPHIC INFORMATION (Tables)	6 Months Ended
	Jun. 30, 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 Six Months Ended 2022 2021 2022 2021 Net product revenues by product: Vimizim $ 173,206 $ 171,655 $ 356,265 $ 329,953 Naglazyme 115,783 118,813 243,814 226,149 Palynziq 61,643 58,935 116,528 112,973 Kuvan 57,602 78,807 116,939 149,570 Brineura 37,725 30,332 73,898 57,657 Voxzogo 34,374 — 54,032 — Total net product revenues marketed by the Company 480,333 458,542 961,476 876,302 Aldurazyme net product revenues marketed by Sanofi 37,327 28,128 61,709 78,137 Total net product revenues 517,660 486,670 1,023,185 954,439 Royalty and other revenues 16,138 15,023 29,972 33,284 Total revenues $ 533,798 $ 501,693 $ 1,053,157 $ 987,723
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 Six Months Ended 2022 2021 2022 2021 United States $ 169,838 $ 169,411 $ 320,653 $ 324,474 Europe 161,230 166,704 318,062 315,576 Latin America 89,911 42,248 152,455 101,953 Rest of world 59,354 80,179 170,306 134,299 Total net product revenues marketed by the Company $ 480,333 $ 458,542 $ 961,476 $ 876,302 Aldurazyme net product revenues marketed by Sanofi 37,327 28,128 61,709 78,137 Total net product revenues $ 517,660 $ 486,670 $ 1,023,185 $ 954,439
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 Six Months Ended 2022 2021 2022 2021 Customer A 16 % 16 % 16 % 16 % Customer B 12 % 13 % 12 % 13 % Customer C 5 % 12 % 5 % 10 % Total 33 % 41 % 33 % 39 %

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 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 Six Months Ended 2022 2021 2022 2021 Cost of sales $ 4,762 $ 6,087 $ 9,088 $ 12,568 Research and development 13,633 20,816 30,823 38,333 Selling, general and administrative 28,683 27,940 55,000 53,445 Total stock-based compensation expense $ 47,078 $ 54,843 $ 94,911 $ 104,346

NET INCOME PER COMMON SHARE (Ta

NET INCOME PER COMMON SHARE (Tables)	6 Months Ended
	Jun. 30, 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 Six Months Ended 2022 2021 2022 2021 Numerator: Net Income, basic $ 27,664 $ 12,941 $ 148,462 $ 30,312 Add: Interest expense, net of tax, on convertible notes — — 1,871 — Net Income, diluted $ 27,664 $ 12,941 $ 150,333 $ 30,312 Denominator: Weighted-average common shares outstanding, basic 185,254 182,844 184,710 182,311 Effect of dilutive securities: Issuances under equity incentive plans 2,194 2,583 2,416 2,778 Common stock issuable under the 2024 Notes — — 3,970 — Weighted-average common shares outstanding, diluted 187,448 185,427 191,096 185,089 Net income per common share, basic $ 0.15 $ 0.07 $ 0.80 $ 0.17 Net income per common share, diluted $ 0.15 $ 0.07 $ 0.79 $ 0.16
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 June 30, Six Months Ended 2022 2021 2022 2021 Issuances under equity incentive plans 10,659 10,169 10,438 9,975 Common stock issuable under the Company's convertible notes 8,335 8,335 4,365 8,335 Total number of potentially issuable shares 18,994 18,504 14,803 18,310

BUSINESS OVERVIEW AND SIGNIFI_3

BUSINESS OVERVIEW AND SIGNIFICANT ACCOUNTING POLICIES (Details)	6 Months Ended
	Jun. 30, 2022 commercial_product
Accounting Policies [Abstract]
Number of commercial products in portfolio	7

Financial Instruments - Schedul

Financial Instruments - Schedule of Cash, Cash Equivalents and Available-for-Sale Securities by Significant Investment Category (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 1,537,944	$ 1,523,467
Gross Unrealized Gains	150	719
Gross Unrealized Losses	(15,844)	(2,518)
Aggregate Fair Value	1,522,250	1,521,668
Cash and Cash Equivalents	619,802	587,276	[1]
Short-term Marketable Securities	489,945	426,599	[1]
Long-term Marketable Securities	412,503	507,793	[1]
Level 1: | Cash
Schedule of Available-for-sale Securities [Line Items]
Cash	355,318	301,177
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Aggregate Fair Value	355,318	301,177
Cash and Cash Equivalents	355,318	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	1,182,626	1,222,290
Gross Unrealized Gains	150	719
Gross Unrealized Losses	(15,844)	(2,518)
Aggregate Fair Value	1,166,932	1,220,491
Cash and Cash Equivalents	264,484	286,099
Short-term Marketable Securities	489,945	426,599
Long-term Marketable Securities	412,503	507,793
Level 2: | Money market instruments
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	264,484	285,099
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Aggregate Fair Value	264,484	285,099
Cash and Cash Equivalents	264,484	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	560,401	584,000
Gross Unrealized Gains	3	386
Gross Unrealized Losses	(12,450)	(2,086)
Aggregate Fair Value	547,954	582,300
Cash and Cash Equivalents	0	0
Short-term Marketable Securities	273,400	200,304
Long-term Marketable Securities	274,554	381,996
Level 2: | U.S. government agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	263,184	224,774
Gross Unrealized Gains	15	182
Gross Unrealized Losses	(2,734)	(325)
Aggregate Fair Value	260,465	224,631
Cash and Cash Equivalents	0	0
Short-term Marketable Securities	180,952	146,421
Long-term Marketable Securities	79,513	78,210
Level 2: | Commercial paper
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	33,107	68,384
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(23)	0
Aggregate Fair Value	33,084	68,384
Cash and Cash Equivalents	0	1,000
Short-term Marketable Securities	33,084	67,384
Long-term Marketable Securities	0	0
Level 2: | Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	58,888	56,936
Gross Unrealized Gains	8	10
Gross Unrealized Losses	(633)	(95)
Aggregate Fair Value	58,263	56,851
Cash and Cash Equivalents	0	0
Short-term Marketable Securities	0	9,451
Long-term Marketable Securities	58,263	47,400
Level 2: | Foreign and other
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,562	3,097
Gross Unrealized Gains	124	141
Gross Unrealized Losses	(4)	(12)
Aggregate Fair Value	2,682	3,226
Cash and Cash Equivalents	0	0
Short-term Marketable Securities	2,509	3,039
Long-term Marketable Securities	$ 173	$ 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	Jun. 30, 2022	Dec. 31, 2021
Strategic Investment | Fair Value, Measurements, Recurring
Schedule of Available-for-sale Securities [Line Items]
Strategic investments fair value	$ 23.8	$ 16.5

Supplemental Financial Statem_3

Supplemental Financial Statements Information - Schedule of Inventory (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 104,493	$ 80,269
Work-in-process	429,486	415,261
Finished goods	268,336	281,139
Total inventory	$ 802,315	$ 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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	[1]
Inventory [Line Items]
Inventory	$ 802,315		$ 802,315		$ 776,669
Depreciation expense, net of amounts capitalized into inventory	9,500	$ 11,800	21,200	$ 24,300
Gain on sale of nonfinancial assets, net	0	$ 0	108,000	$ 0
Valoctocogene Roxaparvovec
Inventory [Line Items]
Inventory	$ 31,800		$ 31,800
[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	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Property, plant and equipment, gross	$ 1,811,263	$ 1,756,035
Accumulated depreciation	(761,799)	(720,574)
Property, plant and equipment, net	$ 1,049,464	$ 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	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Finite-lived intangible assets	$ 689,499	$ 677,350
Accumulated amortization	(320,131)	(288,698)
Net carrying value	$ 369,368	$ 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	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts payable and accrued operating expenses	$ 199,251	$ 193,003
Accrued compensation expense	127,929	204,446
Accrued rebates payable	62,485	47,987
Accrued royalties payable	15,620	15,215
Foreign currency exchange forward contracts	10,224	6,263
Lease liabilities	10,611	10,464
Value added taxes payable	2,472	1,935
Accrued income taxes	1,568	1,213
Deferred revenue	305	6,956
Other	4,308	4,108
Total accounts payable and accrued liabilities	$ 434,773	$ 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 ($)	Jun. 30, 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	21,804,000	26,869,000
Fair value of financial assets, Total	24,036,000	28,912,000
Fair value of other current liabilities	32,186,000	50,275,000
Fair value of other non-current liabilities		39,096,000
Fair value of financial liabilities, Total	51,522,000	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	2,232,000	2,043,000
Fair value of other non-current liabilities	19,336,000	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	29,954,000	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	21,804,000	26,869,000
Fair value of financial assets, Total	24,036,000	28,912,000
Fair value of other current liabilities	2,232,000	2,043,000
Fair value of other non-current liabilities		23,929,000
Fair value of financial liabilities, Total	21,568,000	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	2,232,000	2,043,000
Fair value of other non-current liabilities	19,336,000	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	29,954,000	48,232,000
Fair value of other non-current liabilities		15,167,000
Fair value of financial liabilities, Total	29,954,000	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	29,954,000	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	2,232,000	2,043,000
Fair value of other non-current assets	19,336,000	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	2,232,000	2,043,000
Fair value of other non-current assets	19,336,000	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	2,468,000	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	2,468,000	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	6 Months Ended
	Jun. 30, 2022 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration as of December 31, 2021	$ 63,399
Milestone payments to Ares Trading S.A. (Merck Serono)	(33,293)
Realized foreign exchange gain on settlement of contingent consideration	(133)
Changes in fair value of contingent consideration	2,860
Foreign exchange remeasurement of Euro denominated contingent consideration	(2,879)
Contingent consideration as of June 30, 2022	$ 29,954

Derivative Instruments and He_3

Derivative Instruments and Hedging Strategies - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Derivative [Line Items]
Amount reclassified from AOCI to earnings as related to forecasted revenue and operating expense transactions	$ 25.5
Derivatives Designated As Hedging Instruments
Derivative [Line Items]
Maturity of derivatives	2 years
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	Jun. 30, 2022	Dec. 31, 2021
Derivatives Designated As Hedging Instruments | Sell
Derivative [Line Items]
Notional amount	$ 585,370	$ 740,667
Derivatives Designated As Hedging Instruments | Purchase
Derivative [Line Items]
Notional amount	121,257	183,256
Not Designated as Hedging Instrument | Sell
Derivative [Line Items]
Notional amount	113,793	113,257
Not Designated as Hedging Instrument | Purchase
Derivative [Line Items]
Notional amount	$ 0	$ 31,068

Derivative Instruments and He_5

Derivative Instruments and Hedging Strategies - Fair Value Carrying Amount of Derivatives (Detail) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Derivative asset, fair value	$ 42,525	$ 22,775
Derivative liability, fair value	12,072	7,641
Level 2: | Derivatives Designated As Hedging Instruments
Derivative [Line Items]
Derivative asset, fair value	42,507	22,348
Derivative liability, fair value	11,999	6,865
Level 2: | Derivatives Designated As Hedging Instruments | Other current assets
Derivative [Line Items]
Derivative asset, fair value	35,654	17,357
Level 2: | Derivatives Designated As Hedging Instruments | Other assets
Derivative [Line Items]
Derivative asset, fair value	6,853	4,991
Level 2: | Derivatives Designated As Hedging Instruments | Accounts payable and accrued liabilities
Derivative [Line Items]
Derivative liability, fair value	10,151	5,487
Level 2: | Derivatives Designated As Hedging Instruments | Other long-term liabilities
Derivative [Line Items]
Derivative liability, fair value	1,848	1,378
Level 2: | Not Designated as Hedging Instrument | Other current assets
Derivative [Line Items]
Derivative asset, fair value	18	427
Level 2: | Not Designated as Hedging Instrument | Accounts payable and accrued liabilities
Derivative [Line Items]
Derivative liability, fair value	$ 73	$ 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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Revenue	$ 533,798	$ 501,693	$ 1,053,157	$ 987,723
Operating expenses	494,646	490,021	876,678	950,965
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gains (Losses) Recognized in Earnings	4,950	(3,260)	6,241	1,009
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	(1,800)	344	(3,179)	349
Net product revenues
Derivative Instruments, Gain (Loss) [Line Items]
Revenue	517,660	486,670	1,023,185	954,439
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	$ 5,927	$ (2,678)	$ 11,499	$ (5,435)

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Jun. 30, 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	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Convertible notes	$ 1,100,000
Convertible notes, net of unamortized discount and deferred offering costs	1,081,047	$ 1,079,077	[1]
Total convertible debt, net	1,081,047	1,079,077
Total fair value of fixed-rate convertible debt	$ 1,092,837	$ 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	(9,957)	(10,971)
Convertible notes, net of unamortized discount and deferred offering costs	590,043	589,029
Total fair value of fixed-rate convertible debt	$ 602,436	$ 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	(3,996)	(4,952)
Convertible notes, net of unamortized discount and deferred offering costs	491,004	490,048
Total fair value of fixed-rate convertible debt	$ 490,401	$ 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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Schedule Of Interest Expenses [Line Items]
Total interest expense on convertible debt	$ 3,859	$ 3,817	$ 7,665	$ 7,621
Convertible Senior Notes
Schedule Of Interest Expenses [Line Items]
Coupon interest expense	2,617	2,616	5,233	5,232
Accretion of discount on convertible notes	837	834	1,673	1,668
Amortization of debt issuance costs	148	148	297	296
Total interest expense on convertible debt	$ 3,602	$ 3,598	$ 7,203	$ 7,196

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income - 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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022		Jun. 30, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 4,391,315	$ 4,162,010	$ 4,270,740	[1],[2]	$ 4,106,002	[2]
Other comprehensive income (loss) before      reclassifications	22,635	(8,450)	9,136		9,498
Less: gain (loss) reclassified from AOCI	4,127	(2,334)	8,320		(5,086)
Tax effect	841	173	3,224		616
Net current-period other comprehensive income (loss)	19,349	(5,943)	4,040		15,200
Ending balance	4,504,807	4,241,571	4,504,807		4,241,571
Unrealized Gains (Losses) on Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	8,387	2,617	15,805		(20,028)
Other comprehensive income (loss) before      reclassifications	26,255	(7,711)	23,030		12,182
Less: gain (loss) reclassified from AOCI	4,127	(2,334)	8,320		(5,086)
Tax effect	0	0	0		0
Net current-period other comprehensive income (loss)	22,128	(5,377)	14,710		17,268
Ending balance	30,515	(2,760)	30,515		(2,760)
Unrealized Gains (Losses) on Available for-Sale Debt Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(9,264)	2,387	(1,373)		3,889
Other comprehensive income (loss) before      reclassifications	(3,620)	(739)	(13,894)		(2,684)
Less: gain (loss) reclassified from AOCI	0	0	0		0
Tax effect	841	173	3,224		616
Net current-period other comprehensive income (loss)	(2,779)	(566)	(10,670)		(2,068)
Ending balance	(12,043)	1,821	(12,043)		1,821
AOCI attributable to parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(877)	5,004	14,432	[2]	(16,139)	[2]
Ending balance	$ 18,472	$ (939)	$ 18,472		$ (939)
[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_3

Revenue, Credit Concentrations and Geographic Information - Additional Information (Detail) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) Segment	Dec. 31, 2021 USD ($)
Concentration Risk And Geographic Information [Line Items]
Number of operating business segment | Segment	1
Accounts receivable, net	$ 466,507	$ 373,399	[1]
Customers
Concentration Risk And Geographic Information [Line Items]
Accounts receivable, net	$ 69,500	$ 67,900
Credit Concentration Risk | Accounts Receivable | Customer One
Concentration Risk And Geographic Information [Line Items]
Concentration risk, percentage	21%	28%
Credit Concentration Risk | Accounts Receivable | Customer Two
Concentration Risk And Geographic Information [Line Items]
Concentration risk, percentage	16%	16%
[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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue from External Customer [Line Items]
Revenue	$ 533,798	$ 501,693	$ 1,053,157	$ 987,723
Product
Revenue from External Customer [Line Items]
Revenue	517,660	486,670	1,023,185	954,439
Vimizim | Marketed by Company
Revenue from External Customer [Line Items]
Revenue	173,206	171,655	356,265	329,953
Naglazyme | Marketed by Company
Revenue from External Customer [Line Items]
Revenue	115,783	118,813	243,814	226,149
Palynziq | Marketed by Company
Revenue from External Customer [Line Items]
Revenue	61,643	58,935	116,528	112,973
Kuvan | Marketed by Company
Revenue from External Customer [Line Items]
Revenue	57,602	78,807	116,939	149,570
Brineura | Marketed by Company
Revenue from External Customer [Line Items]
Revenue	37,725	30,332	73,898	57,657
Voxzogo | Marketed by Company
Revenue from External Customer [Line Items]
Revenue	34,374	0	54,032	0
Brineura, Kuvan, Naglazyme, Palynziq, and Vimizim | Marketed by Company
Revenue from External Customer [Line Items]
Revenue	480,333	458,542	961,476	876,302
Aldurazyme | Marketed by Sanofi
Revenue from External Customer [Line Items]
Revenue	37,327	28,128	61,709	78,137
Royalty and other revenues
Revenue from External Customer [Line Items]
Revenue	$ 16,138	$ 15,023	$ 29,972	$ 33,284

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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 533,798	$ 501,693	$ 1,053,157	$ 987,723
Product
Disaggregation of Revenue [Line Items]
Revenue	517,660	486,670	1,023,185	954,439
Marketed by Company | Brineura, Kuvan, Naglazyme, Palynziq, and Vimizim
Disaggregation of Revenue [Line Items]
Revenue	480,333	458,542	961,476	876,302
Marketed by Company | Brineura, Kuvan, Naglazyme, Palynziq, and Vimizim | United States
Disaggregation of Revenue [Line Items]
Revenue	169,838	169,411	320,653	324,474
Marketed by Company | Brineura, Kuvan, Naglazyme, Palynziq, and Vimizim | Europe
Disaggregation of Revenue [Line Items]
Revenue	161,230	166,704	318,062	315,576
Marketed by Company | Brineura, Kuvan, Naglazyme, Palynziq, and Vimizim | Latin America
Disaggregation of Revenue [Line Items]
Revenue	89,911	42,248	152,455	101,953
Marketed by Company | Brineura, Kuvan, Naglazyme, Palynziq, and Vimizim | Rest of world
Disaggregation of Revenue [Line Items]
Revenue	59,354	80,179	170,306	134,299
Marketed by Sanofi | Aldurazyme
Disaggregation of Revenue [Line Items]
Revenue	$ 37,327	$ 28,128	$ 61,709	$ 78,137

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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Customer A, B, & C
Concentration Risk [Line Items]
Concentration risk, percentage	33%	41%	33%	39%
Customer A
Concentration Risk [Line Items]
Concentration risk, percentage	16%	16%	16%	16%
Customer B
Concentration Risk [Line Items]
Concentration risk, percentage	12%	13%	12%	13%
Customer C
Concentration Risk [Line Items]
Concentration risk, percentage	5%	12%	5%	10%

Stock-Based Compensation - Expe

Stock-Based Compensation - Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 47,078	$ 54,843	$ 94,911	$ 104,346
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	4,762	6,087	9,088	12,568
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	13,633	20,816	30,823	38,333
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 28,683	$ 27,940	$ 55,000	$ 53,445

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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Net Income, basic	$ 27,664	$ 12,941	$ 148,462	$ 30,312
Add: Interest expense, net of tax, on convertible notes	0	0	1,871	0
Net Income, diluted	$ 27,664	$ 12,941	$ 150,333	$ 30,312
Denominator:
Weighted average common shares outstanding, basic (in shares)	185,254	182,844	184,710	182,311
Effect of dilutive securities:
Weighted average common shares outstanding, diluted (in shares)	187,448	185,427	191,096	185,089
Net income per common share, basic (in dollars per share)	$ 0.15	$ 0.07	$ 0.80	$ 0.17
Net income per common share, diluted (in dollars per share)	$ 0.15	$ 0.07	$ 0.79	$ 0.16
Issuances under equity incentive plans
Effect of dilutive securities:
Effect of dilutive securities (in shares)	2,194	2,583	2,416	2,778
Common stock issuable under the 2024 Notes
Effect of dilutive securities:
Effect of dilutive securities (in shares)	0	0	3,970	0

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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total number of potentially issuable shares (in shares)	18,994	18,504	14,803	18,310
Issuances under equity incentive plans
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total number of potentially issuable shares (in shares)	10,659	10,169	10,438	9,975
Common stock issuable under the Company's convertible notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total number of potentially issuable shares (in shares)	8,335	8,335		8,335
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)			4,365

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2021	Jun. 30, 2020	Jun. 30, 2022
Commitments And Contingencies [Line Items]
Contingent payments upon achievement of certain development and regulatory activities and commercial sales and licensing milestones			$ 778
Purchase commitments and other minimum contractual obligations			$ 140.8
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	$ 381.5	$ 225