Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 18, 2013 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 30-Sep-13 | |
Document Fiscal Year Focus | 2013 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | BMRN | |
Entity Registrant Name | BIOMARIN PHARMACEUTICAL INC | |
Entity Central Index Key | 1048477 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 142,212,657 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | |||
Current assets: | |||
Cash and cash equivalents | $181,565 | $180,527 | [1] |
Short-term investments | 198,086 | 270,211 | [1] |
Accounts receivable, net (allowance for doubtful accounts: $376 and $348, respectively) | 124,745 | 109,066 | [1] |
Inventory | 148,684 | 128,695 | [1] |
Current deferred tax assets | 32,238 | 29,454 | [1] |
Other current assets | 28,161 | 25,509 | [1] |
Total current assets | 713,479 | 743,462 | [1] |
Noncurrent assets: | |||
Investment in BioMarin/Genzyme LLC | 854 | 1,080 | [1] |
Long-term investments | 147,771 | 115,993 | [1] |
Property, plant and equipment, net | 285,664 | 284,473 | [1] |
Intangible assets, net | 165,791 | 162,980 | [1] |
Goodwill | 54,258 | 51,543 | [1] |
Long-term deferred tax assets | 238,703 | 225,501 | [1] |
Other assets | 14,010 | 16,611 | [1] |
Total assets | 1,620,530 | 1,601,643 | [1] |
Current liabilities: | |||
Accounts payable and accrued liabilities | 167,633 | 147,068 | [1] |
Convertible debt | 0 | 23,365 | [1] |
Total current liabilities | 167,633 | 170,433 | [1] |
Noncurrent liabilities: | |||
Long-term convertible debt | 78,310 | 324,859 | [1] |
Long-term contingent acquisition consideration payable | 26,500 | 30,618 | [1] |
Long-term deferred tax liabilities | 37,190 | 33,296 | [1] |
Other long-term liabilities | 34,411 | 26,674 | [1] |
Total liabilities | 344,044 | 585,880 | [1] |
Stockholders' equity: | |||
Common stock, $0.001 par value: 250,000,000 shares authorized at September 30, 2013 and December 31, 2012: 142,200,995 and 125,809,162 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively. | 142 | 126 | [1] |
Additional paid-in capital | 1,926,133 | 1,561,890 | [1] |
Company common stock held by Nonqualified Deferred Compensation Plan | -7,451 | -6,603 | [1] |
Accumulated other comprehensive income (loss) | 11,473 | -202 | [1] |
Accumulated deficit | -653,811 | -539,448 | [1] |
Total stockholders' equity | 1,276,486 | 1,015,763 | [1] |
Total liabilities and stockholders' equity | $1,620,530 | $1,601,643 | [1] |
[1] | December 31, 2012 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, 2012, filed with the Securities and Exchange Commission (the SEC) on February 26, 2013. |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
In Thousands, except Share data, unless otherwise specified | |||
Allowance for doubtful accounts | $376 | $348 | [1] |
Common stock, par value | $0.00 | $0.00 | [1] |
Common stock, shares authorized | 250,000,000 | 250,000,000 | [1] |
Common stock, shares issued | 142,200,995 | 125,809,162 | [1] |
Common stock, shares outstanding | 142,200,995 | 125,809,162 | [1] |
[1] | December 31, 2012 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, 2012, filed with the Securities and Exchange Commission (the SEC) on February 26, 2013. |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
REVENUES: | ||||
Net product revenues | $134,330 | $126,310 | $394,074 | $365,540 |
Collaborative agreement revenues | 1,754 | 1,210 | 2,778 | 1,729 |
Royalty and license revenues | 790 | 597 | 4,760 | 1,516 |
Total revenues | 136,874 | 128,117 | 401,612 | 368,785 |
OPERATING EXPENSES: | ||||
Cost of sales (excludes amortization of certain acquired intangible assets) | 28,054 | 24,619 | 71,121 | 65,298 |
Research and development | 88,064 | 66,209 | 257,468 | 217,855 |
Selling, general and administrative | 61,841 | 46,337 | 163,547 | 143,124 |
Intangible asset amortization and contingent consideration | 9,639 | 1,443 | 13,173 | 5,819 |
Total operating expenses | 187,598 | 138,608 | 505,309 | 432,096 |
LOSS FROM OPERATIONS | -50,724 | -10,491 | -103,697 | -63,311 |
Equity in the loss of BioMarin/Genzyme LLC | -147 | -336 | -711 | -968 |
Interest income | 574 | 778 | 1,942 | 1,819 |
Interest expense | -526 | -1,837 | -2,854 | -5,709 |
Debt conversion expense | -1,732 | 0 | -12,152 | 0 |
Other income (expense) | 239 | 125 | 344 | -15 |
LOSS BEFORE INCOME TAXES | -52,316 | -11,761 | -117,128 | -68,184 |
Provision for (benefit from) income taxes | 704 | -6,404 | -2,765 | -6,849 |
NET LOSS | -53,020 | -5,357 | -114,363 | -61,335 |
NET LOSS PER SHARE, BASIC AND DILUTED | ($0.38) | ($0.04) | ($0.84) | ($0.52) |
Weighted average common shares outstanding, basic and diluted | 140,796 | 123,434 | 136,102 | 118,810 |
COMPREHENSIVE INCOME (LOSS) | ($43,988) | ($7,674) | ($102,688) | ($63,889) |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | |||
Net loss | ($114,363) | ($61,335) | |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation and amortization | 37,880 | 33,438 | |
Accretion of discount on investments | 4,149 | 3,075 | |
Equity in the loss of BioMarin/Genzyme LLC | 711 | 968 | |
Stock-based compensation | 42,638 | 35,414 | |
Impairment of intangible assets | 939 | 6,707 | |
Deferred income taxes | -19,212 | -10,610 | |
Excess tax benefit from stock option exercises | -335 | -96 | |
Unrealized foreign exchange loss on forward contracts | -1,692 | -4,846 | |
Changes in the fair value of contingent acquisition consideration payable | 9,816 | -3,325 | |
Debt conversion expense | 12,152 | 0 | |
Changes in operating assets and liabilities: | |||
Accounts receivable, net | -15,679 | -12,451 | |
Inventory | -19,989 | 9,293 | |
Other current assets | -1,776 | -8,154 | |
Other assets | -307 | -6,905 | |
Accounts payable and accrued liabilities | 11,362 | 15,825 | |
Other long-term liabilities | 5,368 | 8,625 | |
Net cash provided by (used in) operating activities | -48,338 | 5,623 | |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||
Purchases of property, plant and equipment | -35,440 | -30,676 | |
Maturities and sales of investments | 232,625 | 165,459 | |
Purchase of available-for-sale investments | -179,192 | -276,817 | |
Business acquisitions, net of cash acquired | -9,875 | 0 | |
Investments in BioMarin/Genzyme LLC | -485 | -1,258 | |
Net cash provided by (used in) investing activities | 7,633 | -143,292 | |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||
Proceeds from exercises of stock options and ESPP | 54,088 | 37,667 | |
Proceeds from public offering of common stock, net | 0 | 235,499 | |
Excess tax benefit from stock option exercises | 335 | 96 | |
Payments for debt conversion | -12,152 | 0 | |
Payment on maturity of 2013 convertible note | -98 | 0 | |
Repayment of capital lease obligations | -430 | -535 | |
Net cash provided by financing activities | 41,743 | 272,727 | |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 1,038 | 135,058 | |
Cash and cash equivalents: | |||
Beginning of period | 180,527 | [1] | 46,272 |
End of period | 181,565 | 181,330 | |
SUPPLEMENTAL CASH FLOW DISCLOSURES: | |||
Cash paid for interest, net of interest capitalized into fixed assets | 3,238 | 3,597 | |
Cash paid for income taxes | 13,165 | 5,591 | |
Stock-based compensation capitalized into inventory | 4,219 | 3,042 | |
Depreciation capitalized into inventory | 8,221 | 4,744 | |
SUPPLEMENTAL CASH FLOW DISCLOSURES FROM INVESTING AND FINANCING ACTIVITIES: | |||
Decrease in accounts payable and accrued liabilities related to fixed assets | 7,491 | 1,488 | |
Conversion of convertible debt | 269,816 | 0 | |
Deferred offering costs reclassified into additional paid-in-capital as a result of conversion of convertible debt | $2,618 | $0 | |
[1] | December 31, 2012 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, 2012, filed with the Securities and Exchange Commission (the SEC) on February 26, 2013. |
NATURE_OF_OPERATIONS_AND_BUSIN
NATURE OF OPERATIONS AND BUSINESS RISKS | 9 Months Ended |
Sep. 30, 2013 | |
NATURE OF OPERATIONS AND BUSINESS RISKS | (1) NATURE OF OPERATIONS AND BUSINESS RISKS |
BioMarin Pharmaceutical Inc. (the Company or BioMarin), a Delaware corporation, develops and commercializes innovative biopharmaceuticals for serious diseases and medical conditions. BioMarin 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 product portfolio is comprised of four approved products and multiple investigational product candidates. The Company’s approved products are Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Firdapse (amifampridine phosphate) and Aldurazyme (laronidase). | |
Through September 30, 2013, the Company had accumulated losses of approximately $653.8 million. Management believes that the Company’s cash, cash equivalents, short-term and long-term investments at September 30, 2013 and the proceeds from the convertible notes offering in October 2013 as discussed in Note 20, will be sufficient to meet the Company’s obligations for at least the next twelve months based on management’s current business plans. If the Company elects to increase its spending on development programs significantly above current long-term plans or enters into potential licenses and other acquisitions of complementary technologies, products or companies, the Company may need additional capital. The Company expects to continue to finance future cash needs that exceed its operating activities primarily through its current cash, cash equivalents, short-term and long-term investments, and to the extent necessary, through proceeds from equity or debt financings, loans and collaborative agreements with corporate partners. | |
The Company is subject to a number of risks, including: the financial performance of Naglazyme, Kuvan, Firdapse and Aldurazyme; the potential need for additional financings; its ability to successfully commercialize its product candidates, if approved; the uncertainty of the Company’s research and development efforts resulting in future successful commercial products; obtaining regulatory approval for new products; significant competition from larger organizations; reliance on the proprietary technology of others; dependence on key personnel; uncertain patent protection; dependence on corporate partners and collaborators; and possible restrictions on reimbursement from governmental agencies and healthcare organizations, as well as other changes in the health care industry. |
BASIS_OF_PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2013 | |
BASIS OF PRESENTATION | (2) BASIS OF PRESENTATION |
The accompanying Condensed Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the SEC for Quarterly Reports on Form 10-Q and do not include all of the information and note disclosures required by U.S. generally accepted accounting principles (U.S. GAAP) for complete financial statements. 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, 2012 included in the Company’s Annual Report on Form 10-K. | |
The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with U.S. GAAP, which 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 results of operations for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2013. | |
The Company has evaluated events and transactions subsequent to the balance sheet date. Based on this evaluation, the Company is not aware of any events or transactions that occurred subsequent to the balance sheet date but prior to filing this Quarterly Report on Form 10-Q that would require recognition or disclosure in the Condensed Consolidated Financial Statements, except for the transaction in Note 20. |
SIGNIFICANT_ACCOUNTING_POLICIE
SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2013 | |
SIGNIFICANT ACCOUNTING POLICIES | (3) SIGNIFICANT ACCOUNTING POLICIES |
Except for the clarification of the Company’s inventory policy below, there have been no material changes to the Company’s significant accounting policies during the nine months ended September 30, 2013, as compared to the significant accounting policies disclosed in Note 3 of the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | |
Inventory | |
The Company values inventory at the lower of cost or net realizable value and determines the cost of inventory using the average-cost method. Inventories consist of currently marketed products and may contain certain products awaiting regulatory approval. In evaluating the recoverability of inventories produced in preparation for product launches, the Company considers the likelihood that revenue will be obtained from the future sale of the related inventory together with the status of the product within the regulatory approval process. | |
The Company analyzes its inventory levels quarterly and writes down inventory that has become obsolete, or has a cost basis in excess of its expected net realizable value and inventory quantities in excess of expected requirements. In applying the lower of cost or net realizable value to pre-launch inventory, the Company estimates a range of likely commercial prices based on its comparable commercial products. Expired inventory is disposed of and the related costs are recognized as Cost of Sales in the Condensed Consolidated Statements of Comprehensive Loss. | |
Inventories Produced in Preparation for Product Launches | |
The Company capitalizes inventories produced in preparation for product launches sufficient to support estimated initial market demand. Typically, capitalization of such inventory begins when positive results have been obtained for the clinical trials that the Company believes are necessary to support regulatory approval, uncertainties regarding ultimate regulatory approval have been significantly reduced and the Company has determined it is probable that these capitalized costs will provide some future economic benefit in excess of capitalized costs. The material factors considered by the Company in evaluating these uncertainties include the receipt and analysis of positive Phase 3 clinical trial results for the underlying product candidate, results from meetings with the relevant regulatory authorities prior to the filing of regulatory applications, and the compilation of the regulatory application. The Company closely monitors the status of each respective product within the regulatory approval process, including all relevant communication with regulatory authorities. The Company also considers its historical experience with manufacturing and commercializing similar products and the relevant product candidate. If the Company is aware of any specific material risks or contingencies other than the normal regulatory review and approval process or if there are any specific issues identified relating to safety, efficacy, manufacturing, marketing or labeling, the related inventory would generally not be capitalized. | |
For inventories that are capitalized in preparation of product launch, anticipated future sales, expected approval date and shelf lives are evaluated in assessing realizability. The shelf life of a product is determined as part of the regulatory approval process; however in evaluating whether to capitalize pre-launch inventory production costs, the Company considers the product stability data of all of the pre-approval production to date to determine whether there is adequate expected shelf life for the capitalized pre-launch production costs. | |
Reclassifications | |
Certain items in the Company’s prior year Condensed Consolidated Financial Statements have been reclassified to conform to the current presentation. |
RECENT_ACCOUNTING_PRONOUNCEMEN
RECENT ACCOUNTING PRONOUNCEMENTS | 9 Months Ended |
Sep. 30, 2013 | |
RECENT ACCOUNTING PRONOUNCEMENTS | (4) RECENT ACCOUNTING PRONOUNCEMENTS |
Except for Financial Accounting Standards Board (FASB) Accounting Standards Update 2013-02 (ASU 2013-02), Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, there have been no new accounting pronouncements or changes to accounting pronouncements during the period ended September 30, 2013, as compared to the recent accounting pronouncements described in the Company’s Annual Report on Form 10-K for the year-ended December 31, 2012, that are of significance or potential significance to the Company. ASU 2013-02 requires an entity to present either on the face of the financial statements where income is presented or in the notes to the financial statements, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income. See Note 17 to these Condensed Consolidated Financial Statements for the expanded disclosures required by ASU 2013-02. |
ACQUISITION_OF_ZACHARON_PHARMA
ACQUISITION OF ZACHARON PHARMACEUTICALS, INC. | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
ACQUISITION OF ZACHARON PHARMACEUTICALS, INC. | (5) ACQUISITION OF ZACHARON PHARMACEUTICALS, INC. | ||||
On January 4, 2013, the Company entered into a merger agreement with Zacharon Pharmaceuticals, Inc. (Zacharon), a private biotechnology company focused on developing small molecules targeting pathways of glycan and glycolipid metabolism for a total purchase price of $11.5 million. | |||||
In connection with its acquisition of Zacharon, the Company made an upfront payment of $9.7 million in cash to the Zacharon stockholders for all of the outstanding common stock of Zacharon, net of transaction costs of $0.8 million paid on behalf of the Zacharon stockholders. The Company also agreed to pay the Zacharon stockholders additional consideration in future periods of up to $134.0 million (undiscounted) in milestone payments if certain clinical, development and sales milestones are met. The fair value of the contingent acquisition consideration payments was $1.9 million and was estimated by applying a probability-based income approach utilizing an appropriate discount rate. This estimation was based on significant inputs that are not observable in the market, referred to as Level 3 inputs. Key assumptions included a discount rate of 4.7% and various probability factors. The range of outcomes and assumptions used to develop these estimates have been updated to estimate the fair value of the contingent consideration payable as of September 30, 2013. See Note 14 to these Condensed Consolidated Financial Statements for additional discussion regarding fair value measurements of the contingent acquisition consideration payable. | |||||
The following table presents the final allocation of the purchase consideration for the Zacharon acquisition, including the contingent acquisition consideration payable, based on fair value. The final allocation includes an adjustment to goodwill and the deferred tax assets of approximately $0.7 million resulting from the finalization of Zacharon’s tax returns. | |||||
Cash and cash equivalents | Â Â | $ | 560 | Â Â | |
Other current assets | Â Â | 216 | Â Â | ||
Property, plant and equipment | Â Â | 398 | Â Â | ||
Acquired deferred tax assets | Â Â | 2,625 | Â Â | ||
Other assets | Â Â | 38 | Â Â | ||
Intangible assets—In Process Research & Development (IPR&D) |   | 11,680 |   | ||
  | |||||
Total identifiable assets acquired | Â Â | $ | 15,517 | Â Â | |
  | |||||
Accounts payable and accrued expenses | Â Â | $ | (1,182 | ) | |
Debt assumed | Â Â | (1,313 | )Â | ||
Deferred tax liability | Â Â | (4,217 | ) | ||
  | |||||
Total liabilities assumed | Â Â | $ | (6,712 | ) | |
  | |||||
Net identifiable assets acquired | Â Â | $ | 8,805 | Â Â | |
Goodwill | Â Â | 2,715 | Â Â | ||
  | |||||
Net assets acquired | Â Â | $ | 11,520 | Â Â | |
  | |||||
A substantial portion of the assets acquired consisted of intangible assets related to Zacharon’s SENSI-Pro assay. The Company determined that the estimated acquisition-date fair value of the intangible assets related to the SENSI-Pro assay was $11.7 million. | |||||
The $2.6 million of deferred tax assets resulting from the acquisition was primarily related to federal and state net operating loss and tax credit carryforwards. The $4.2 million of deferred tax liabilities relates to the tax impact of future amortization or possible impairments associated with the identified intangible assets acquired, which are not deductible for tax purposes. | |||||
The excess of the consideration transferred over the fair values assigned to the assets acquired and liabilities assumed was $2.7 million, which represents the amount of goodwill resulting from the acquisition. The Company believes that the goodwill primarily represents synergies expected from the acquisition and other benefits that do not qualify for separate recognition as acquired intangible assets. None of the goodwill is expected to be deductible for income tax purposes. The Company recorded the goodwill in the Company’s Condensed Consolidated Balance Sheet as of the acquisition date. | |||||
Zacharon’s results of operations prior to and since the acquisition date are insignificant to the Company’s Condensed Consolidated Financial Statements. | |||||
See Note 8 to these Condensed Consolidated Financial Statements for further discussion of the acquired intangible assets. |
INVESTMENTS
INVESTMENTS | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
INVESTMENTS | (6) INVESTMENTS | ||||||||||||||||
All investments were classified as available-for-sale at September 30, 2013 and December 31, 2012. | |||||||||||||||||
The amortized cost, gross unrealized holding gains or losses, and fair value of the Company’s available-for-sale securities by major security type at September 30, 2013 were as follows: | |||||||||||||||||
  | Amortized |   | Gross |   | Gross | Fair Value | |||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||
Holding Gains | Holding Losses | ||||||||||||||||
Certificates of deposit | Â Â | $ | 45,530 | Â Â | Â Â | $ | 3 | Â Â | Â Â | $ | 0 | Â Â | $ | 45,533 | Â Â | ||
Corporate debt securities | Â Â | 218,767 | Â Â | Â Â | 231 | Â Â | Â Â | (256 | )Â | 218,742 | Â Â | ||||||
Corporate equity securities | Â Â | 3,000 | Â Â | Â Â | 17,333 | Â Â | Â Â | 0 | Â Â | 20,333 | Â Â | ||||||
Commercial paper | Â Â | 52,182 | Â Â | Â Â | 38 | Â Â | Â Â | 0 | Â Â | 52,220 | Â Â | ||||||
U.S. Government agency securities | Â Â | 8,900 | Â Â | Â Â | 1 | Â Â | Â Â | 0 | Â Â | 8,901 | Â Â | ||||||
Greek government-issued bonds | Â Â | 51 | Â Â | Â Â | 77 | Â Â | Â Â | 0 | Â Â | 128 | Â Â | ||||||
  |   |   | |||||||||||||||
Total | Â Â | $ | 328,430 | Â Â | Â Â | $ | 17,683 | Â Â | Â Â | $ | (256 | )Â | $ | 345,857 | Â Â | ||
  |   |   | |||||||||||||||
The amortized cost, gross unrealized holding gains or losses, and fair value of the Company’s available-for-sale securities by major security type at December 31, 2012 were as follows: | |||||||||||||||||
  | Amortized |   | Gross |   | Gross | Fair Value | |||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||
Holding Gains | Holding Losses | ||||||||||||||||
Certificates of deposit | Â Â | $ | 48,741 | Â Â | Â Â | $ | 14 | Â Â | Â Â | $ | (1 | ) | $ | 48,754 | Â Â | ||
Corporate debt securities | Â Â | 316,709 | Â Â | Â Â | 402 | Â Â | Â Â | (211 | )Â | 316,900 | Â Â | ||||||
Corporate equity securities | Â Â | 3,000 | Â Â | Â Â | 0 | Â Â | Â Â | (67 | ) | 2,933 | Â Â | ||||||
U.S. Government agency securities | Â Â | 17,512 | Â Â | Â Â | 5 | Â Â | Â Â | 0 | Â Â | 17,517 | Â Â | ||||||
Greek government-issued bonds | Â Â | 48 | Â Â | Â Â | 52 | Â Â | Â Â | 0 | Â Â | 100 | Â Â | ||||||
  |   |   | |||||||||||||||
Total | Â Â | $ | 386,010 | Â Â | Â Â | $ | 473 | Â Â | Â Â | $ | (279 | ) | $ | 386,204 | Â Â | ||
  |   |   | |||||||||||||||
The fair values of available-for-sale securities by contractual maturity at September 30, 2013 and December 31, 2012 were as follows: | |||||||||||||||||
  | September 30, |   | December 31, | ||||||||||||||
2013 | 2012 | ||||||||||||||||
Maturing in one year or less | Â Â | $ | 198,086 | Â Â | Â Â | $ | 270,211 | Â Â | |||||||||
Maturing after one year through two years | Â Â | 147,771 | Â Â | Â Â | 115,993 | Â Â | |||||||||||
  |   | ||||||||||||||||
Total | Â Â | $ | 345,857 | Â Â | Â Â | $ | 386,204 | Â Â | |||||||||
  |   | ||||||||||||||||
Impairment assessments are made at the individual security level each reporting period. When the fair value of an investment is less than its cost at the balance sheet date, a determination is made as to whether the impairment is other-than-temporary and, if it is other-than-temporary, an impairment loss is recognized in earnings equal to the difference between the investment’s amortized cost and fair value at such date. As of September 30, 2013, some of the Company’s investments were in an unrealized loss position. However, none of the underlying investments has been in a continuous loss position longer than twelve months, and no other-than-temporary impairment is deemed to have occurred. | |||||||||||||||||
See Note 14 to these Condensed Consolidated Financial Statements for additional discussion regarding the fair value of the Company’s available-for-sale securities. |
GOODWILL
GOODWILL | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
GOODWILL | (7) GOODWILL | ||||
Goodwill is tested for impairment on an annual basis and between annual tests if the Company becomes aware of any events occurring or changes in the circumstances that would indicate a reduction in the fair value of the goodwill below its carrying amount. | |||||
The following table represents the changes in goodwill for the nine months ended September 30, 2013: | |||||
Balance at December 31, 2012 |   | $ | 51,543 |   | |
Addition of goodwill related to the acquisition of Zacharon | Â Â | 2,715 | Â Â | ||
  | |||||
Balance at September 30, 2013 |   | $ | 54,258 |   | |
  |
INTANGIBLE_ASSETS
INTANGIBLE ASSETS | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
INTANGIBLE ASSETS | (8) INTANGIBLE ASSETS | ||||||||
Intangible assets consisted of the following: | |||||||||
  | September 30, | December 31, | |||||||
2013 | 2012 | ||||||||
Intangible assets: | Â Â | ||||||||
Finite-lived intangible assets | Â Â | $ | 118,242 | Â Â | $ | 118,242 | Â Â | ||
Indefinite-lived intangible assets | Â Â | 74,430 | Â Â | 63,689 | Â Â | ||||
  | |||||||||
Gross intangible assets: | Â Â | 192,672 | Â Â | 181,931 | Â Â | ||||
Less: Accumulated amortization | Â Â | (26,881 | )Â | (18,951 | )Â | ||||
  | |||||||||
Net carrying value | Â Â | $ | 165,791 | Â Â | $ | 162,980 | Â Â | ||
  | |||||||||
Indefinite-Lived Intangible Assets | |||||||||
Indefinite-lived intangible assets consist of IPR&D assets related to both early and late stage product candidates purchased in the acquisitions of Huxley Pharmaceuticals Inc. (Huxley), LEAD Therapeutics, Inc. (LEAD), ZyStor Therapeutics, Inc. (ZyStor) and Zacharon. | |||||||||
Intangible assets related to IPR&D assets are considered to be indefinite-lived until the completion or abandonment of the associated research and development efforts. During the period the assets are considered indefinite-lived, they will not be amortized but will be tested for impairment on an annual basis and between annual tests if the Company becomes aware of any events occurring or changes in circumstances that would indicate a reduction in the fair value of the IPR&D assets below their respective carrying amounts. | |||||||||
See Note 6 to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012, for additional information related to the Company’s intangible assets. |
PROPERTY_PLANT_AND_EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
PROPERTY, PLANT AND EQUIPMENT | (9) PROPERTY, PLANT AND EQUIPMENT | ||||||||
Property, plant and equipment, net consisted of the following: | |||||||||
  | September 30, | December 31, | |||||||
2013 | 2012 | ||||||||
Leasehold improvements | Â Â | $ | 67,083 | Â Â | $ | 65,918 | Â Â | ||
Building and improvements | Â Â | 154,479 | Â Â | 144,700 | Â Â | ||||
Manufacturing and laboratory equipment | Â Â | 88,865 | Â Â | 79,915 | Â Â | ||||
Computer hardware and software | Â Â | 63,164 | Â Â | 56,011 | Â Â | ||||
Furniture and equipment | Â Â | 12,152 | Â Â | 11,143 | Â Â | ||||
Land | Â Â | 11,608 | Â Â | 11,608 | Â Â | ||||
Construction-in-progress | Â Â | 64,756 | Â Â | 64,300 | Â Â | ||||
  | |||||||||
  | 462,107 |   | 433,595 |   | |||||
Less: Accumulated depreciation | Â Â | (176,443 | )Â | (149,122 | )Â | ||||
  | |||||||||
Total property, plant and equipment, net | Â Â | $ | 285,664 | Â Â | $ | 284,473 | Â Â | ||
  | |||||||||
Depreciation expense for the three and nine months ended September 30, 2013 was $9.2 million and $27.3 million, respectively, of which $2.8 million and $8.2 million was capitalized into inventory, respectively. Depreciation expense for the three and nine months ended September 30, 2012 was $8.9 million and $25.7 million, respectively, of which $2.5 million and $4.7 million was capitalized into inventory, respectively. | |||||||||
Capitalized interest related to the Company’s property, plant and equipment purchases for the three and nine months ended September 30, 2013 and 2012 was insignificant. |
INVENTORY
INVENTORY | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
INVENTORY | (10) INVENTORY | ||||||||
Inventory consisted of the following: | |||||||||
  | September 30, |   | December 31, | ||||||
2013 | 2012 | ||||||||
Raw materials | Â Â | $ | 15,350 | Â Â | Â Â | $ | 11,943 | Â Â | |
Work-in-process | Â Â | 80,996 | Â Â | Â Â | 71,443 | Â Â | |||
Finished goods | Â Â | 52,338 | Â Â | Â Â | 45,309 | Â Â | |||
  |   | ||||||||
Total inventory | Â Â | $ | 148,684 | Â Â | Â Â | $ | 128,695 | Â Â | |
  |   | ||||||||
Inventory as of September 30, 2013 and December 31, 2012 included $32.7 million and $0, respectively, of Vimizim raw materials and work-in-progress related to the pre-launch Vimizim manufacturing campaign. The Company believes that all material uncertainties related to the ultimate regulatory approval of Vimizim for commercial sale have been significantly reduced based on positive data from Phase 3 clinical trial results, successful pre-filing meetings with the Food and Drug Administration (FDA) for the Biologics License Application (BLA), the filing of the BLA with the FDA in the first quarter of 2013, and the filing of the Marketing Authorization Application (MAA) filed with the European Medicines Agency (EMA) in April 2013. In its evaluation, the Company also considered its historical experience with developing and commercially producing similar products. | |||||||||
Inventory as of September 30, 2013 and December 31, 2012 also included $2.2 million and $12.0 million, respectively, of product manufactured using certain process and specification changes that have not yet received regulatory approval. Although a product may have been approved by a regulatory agency, the process and specification changes must also be approved before product produced with the alternate processes and specifications can be sold commercially. | |||||||||
The Company expects to receive regulatory approval and has determined that it is probable that the Company will realize the future economic benefit associated with the costs of these inventories through future sales. |
SUPPLEMENTAL_BALANCE_SHEET_INF
SUPPLEMENTAL BALANCE SHEET INFORMATION | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
SUPPLEMENTAL BALANCE SHEET INFORMATION | (11) SUPPLEMENTAL BALANCE SHEET INFORMATION | ||||||||
Accounts payable and accrued liabilities consisted of the following: | |||||||||
  | September 30, |   | December 31, | ||||||
2013 | 2012 | ||||||||
Accounts payable | Â Â | $ | 15,632 | Â Â | Â Â | $ | 23,993 | Â Â | |
Accrued accounts payable | Â Â | 58,666 | Â Â | Â Â | 43,156 | Â Â | |||
Accrued vacation expense | Â Â | 9,717 | Â Â | Â Â | 8,403 | Â Â | |||
Accrued compensation expense | Â Â | 28,574 | Â Â | Â Â | 27,530 | Â Â | |||
Accrued royalties payable | Â Â | 5,279 | Â Â | Â Â | 4,991 | Â Â | |||
Accrued rebates payable | Â Â | 10,147 | Â Â | Â Â | 9,625 | Â Â | |||
Other accrued operating expenses | Â Â | 1,891 | Â Â | Â Â | 6,179 | Â Â | |||
Current portion of nonqualified deferred compensation liability | Â Â | 1,559 | Â Â | Â Â | 6,440 | Â Â | |||
Value added taxes payable | Â Â | 4,240 | Â Â | Â Â | 2,072 | Â Â | |||
Current portion of contingent acquisition consideration payable | Â Â | 26,536 | Â Â | Â Â | 10,764 | Â Â | |||
Other | Â Â | 5,392 | Â Â | Â Â | 3,915 | Â Â | |||
  |   | ||||||||
Total accounts payable and accrued liabilities | Â Â | $ | 167,633 | Â Â | Â Â | $ | 147,068 | Â Â | |
  |   |
DERIVATIVE_INSTRUMENTS_AND_HED
DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES | (12) DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES | ||||||||||||||||
Foreign Currency Exchange Rate Exposure | |||||||||||||||||
The Company uses forward foreign currency exchange contracts to hedge certain operational exposures resulting from changes in foreign currency exchange rates. Such exposures result from portions of the Company’s forecasted revenues and operating expenses being denominated in currencies other than the U.S. dollar, primarily the Euro and Brazilian Real, respectively. | |||||||||||||||||
The Company designates certain of these forward foreign currency exchange contracts as hedging instruments and enters into some forward foreign currency exchange contracts that are considered to be economic hedges that are not designated as hedging instruments. Whether designated or undesignated, these forward foreign currency exchange contracts protect against the reduction in value of forecasted foreign currency cash flows resulting from Naglazyme product revenues, Aldurazyme royalty revenues, operating expenses and net asset or liability positions designated in currencies other than the U.S. dollar. The fair values of forward foreign currency exchange contracts are estimated using current exchange rates and interest rates, and take into consideration the current creditworthiness of the counterparties or the Company, as applicable. Details of the specific instruments used by the Company to hedge its exposure to foreign currency exchange rate fluctuations are discussed below. See Note 14 to these Condensed Consolidated Financial Statements for additional discussion regarding the fair value of forward foreign currency exchange contracts. | |||||||||||||||||
At September 30, 2013, the Company had 58 forward foreign currency exchange contracts outstanding to sell a total of 57.1 million Euros with expiration dates ranging from October 31, 2013 through December 31, 2014. These hedges were entered into in order to protect against the fluctuations in revenue associated with Euro denominated Naglazyme and Aldurazyme sales. The Company has formally designated these forward foreign currency exchange contracts as cash flow hedges and expects them to be highly effective within the meaning of FASB Accounting Standards Codification (ASC) Subtopic 815-30, Derivatives and Hedging-Cash Flow Hedges, in offsetting fluctuations in revenues denominated in Euros and operating expenses denominated in the Brazilian Real related to changes in foreign currency exchange rates. | |||||||||||||||||
The Company also enters into forward foreign currency exchange contracts that are not designated as hedges for accounting purposes. The changes in fair value of these forward foreign currency exchange contracts are included as a part of Selling, General and Administrative expense in the Condensed Consolidated Statements of Comprehensive Loss. At September 30, 2013, separate from the 58 contracts discussed above, the Company had one outstanding forward foreign currency exchange contract to sell 28.1 million Euros, which was not designated as a hedge for accounting purposes and which will mature on October 31, 2013. | |||||||||||||||||
The maximum length of time over which the Company is hedging its exposure to the reduction in value of forecasted foreign currency cash flows through forward foreign currency exchange contracts is through December 31, 2014. Over the next twelve months, the Company expects to reclassify $2.0 million from accumulated other comprehensive income to earnings as the forecasted revenue transactions and operating expenses occur. | |||||||||||||||||
The fair value carrying amounts of the Company’s derivative instruments were as follows: | |||||||||||||||||
  | Asset Derivatives |   | Liability Derivatives | ||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||
  | Balance Sheet Location |   | Fair Value |   | Balance Sheet Location |   | Fair Value | ||||||||||
Derivatives designated as hedging instruments: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Forward foreign currency exchange contracts |   | Other current assets |   |   | $ | 0 |   |   | Accounts payable and |   |   | $ | 1,674 |   | |||
accrued liabilities |   | ||||||||||||||||
Forward foreign currency exchange contracts |   | Other assets |   |   | 0 |   |   | Other long- |   | 131 |   | ||||||
term liabilities |   | ||||||||||||||||
  |   |   |   | ||||||||||||||
Total | Â Â | Â Â | $ | 0 | Â Â | Â Â | Â Â | $ | 1,805 | Â Â | |||||||
  |   |   |   | ||||||||||||||
Derivatives not designated as hedging instruments: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Forward foreign currency exchange contracts |   | Other current assets |   |   | $ | 0 |   |   | Accounts payable and |   |   | $ | 146 |   | |||
accrued liabilities | Â Â | ||||||||||||||||
  |   |   |   | ||||||||||||||
Total | Â Â | Â Â | 0 | Â Â | Â Â | Â Â | 146 | Â Â | |||||||||
  |   |   |   | ||||||||||||||
Total value of derivative contracts | Â Â | Â Â | $ | 0 | Â Â | Â Â | Â Â | $ | 1,951 | Â Â | |||||||
  |   |   |   | ||||||||||||||
  | Asset Derivatives |   | Liability Derivatives | ||||||||||||||
December 31, 2012 | December 31, 2012 | ||||||||||||||||
  | Balance Sheet Location |   | Fair Value |   | Balance Sheet Location |   | Fair Value | ||||||||||
Derivatives designated as hedging instruments: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Forward foreign currency exchange contracts |   | Other current assets |   |   | $ | 1,463 |   |   | Accounts payable and |   |   | $ | 1,078 |   | |||
accrued liabilities |   | ||||||||||||||||
Forward foreign currency exchange contracts |   | Other assets |   |   | 0 |   |   | Other long- |   | 368 |   | ||||||
term liabilities |   | ||||||||||||||||
  |   |   |   | ||||||||||||||
Total | Â Â | Â Â | $ | 1,463 | Â Â | Â Â | Â Â | $ | 1,446 | Â Â | |||||||
  |   |   |   | ||||||||||||||
Derivatives not designated as hedging instruments: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Forward foreign currency exchange contracts |   | Other current assets |   |   | $ | 84 |   |   | Accounts payable and |   |   | $ | 0 |   | |||
accrued liabilities | Â Â | ||||||||||||||||
  |   |   |   | ||||||||||||||
Total | Â Â | Â Â | 84 | Â Â | Â Â | Â Â | 0 | Â Â | |||||||||
  |   |   |   | ||||||||||||||
Total value of derivative contracts | Â Â | Â Â | $ | 1,547 | Â Â | Â Â | Â Â | $ | 1,446 | Â Â | |||||||
  |   |   |   | ||||||||||||||
The effect of the Company’s derivative instruments on the Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2013 and 2012 was as follows: | |||||||||||||||||
  | Forward Foreign Currency Exchange Contracts | ||||||||||||||||
  | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
  | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Derivatives Designated as Hedging Instruments: | Â Â | ||||||||||||||||
Net gain (loss) recognized in Other Comprehensive Income (OCI)Â (1) | Â Â | $ | (3,177 | )Â | $ | (3,952 | )Â | $ | (1,918 | )Â | $ | (4,612 | )Â | ||||
Net gain reclassified from accumulated OCI into income (2) |   | 102 |   | 2,362 |   | 968 |   | 4,916 |   | ||||||||
Net gain recognized in income (3) | Â Â | 10 | Â Â | 218 | Â Â | 214 | Â Â | 753 | Â Â | ||||||||
Derivatives Not Designated as Hedging Instruments: | Â Â | ||||||||||||||||
Net gain (loss) recognized in income (4) | Â Â | $ | (1,437 | )Â | $ | (1,388 | )Â | $ | (1,129 | )Â | $ | 1,286 | Â Â | ||||
-1 | Net change in the fair value of the effective portion classified as OCI. | ||||||||||||||||
-2 | Effective portion classified as net product revenue. | ||||||||||||||||
-3 | Ineffective portion and amount excluded from effectiveness testing classified as selling, general and administrative expense. | ||||||||||||||||
-4 | Classified as selling, general and administrative expense. | ||||||||||||||||
At September 30, 2013 and December 31, 2012, accumulated other comprehensive income before taxes associated with forward foreign currency exchange contracts qualifying for hedge accounting treatment were losses of $2.1 million and $0.2 million, respectively. | |||||||||||||||||
The Company is exposed to counterparty credit risk on all of its derivative financial instruments. The Company has established and maintained strict counterparty credit guidelines and enters into hedges only with financial institutions that are investment grade or better to minimize the Company’s exposure to potential defaults. The Company does not require collateral to be pledged under these agreements. |
CONVERTIBLE_DEBT
CONVERTIBLE DEBT | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
CONVERTIBLE DEBT | (13) CONVERTIBLE DEBT | ||||||||
In April 2007, the Company sold approximately $324.9 million of senior subordinated convertible notes due in April 2017 (the 2017 Notes), of which $78.3 million remains outstanding at September 30, 2013. The debt was issued at face value and bears interest at the rate of 1.875% per annum, payable semi-annually in cash. The debt is convertible, at the option of the holder, at any time prior to maturity or redemption, into shares of the Company’s common stock at a conversion price of approximately $20.36 per share, subject to adjustment in certain circumstances. The debt does not include a call provision and the Company is unable to unilaterally redeem the debt prior to maturity on April 23, 2017. The Company also must repay the debt if there is a qualifying change in control or termination of trading of its common stock. If a change of control occurs, the Company will pay a make whole premium by increasing the conversion rate applicable to the notes. | |||||||||
In connection with the placement of the 2017 Notes, the Company paid approximately $8.5 million in offering costs, which have been deferred and are included in other assets. The deferred offering costs are being amortized as interest expense over the life of the debt. The Company recognized amortization expense of $0.1 million and $0.3 million for the three and nine months ended September 30, 2013, compared to $0.2 million and $0.6 million for the three and nine months ended September 30, 2012, respectively. | |||||||||
In August 2013, the Company entered into separate agreements with three of the existing holders of its 2017 Notes pursuant to which such holders converted $31.5 million in aggregate principal amount of the 2017 Notes into 1,547,629 shares of the Company’s common stock. In addition to issuing the requisite number of shares of the Company’s common stock pursuant to the 2017 Notes, the Company also made varying cash payments to each of the holders, totaling $1.9 million in the aggregate, of which $1.7 million was recognized in total as Debt Conversion Expense on the Condensed Consolidated Statement of Comprehensive Loss for the three and nine months ended September 30, 2013 and $0.2 million was for accrued interest. Additionally, the Company reclassified $0.3 million of deferred offering costs to additional paid-in capital in connection with the conversion of the 2017 Notes. | |||||||||
In March 2013, the Company entered into separate agreements with 13 of the existing holders of its 2017 Notes pursuant to which such holders converted $215.0 million in aggregate principal amount of the 2017 Notes into 10,560,164 shares of the Company’s common stock. In addition to issuing the requisite number of shares of the Company’s common stock pursuant to the 2017 Notes, the Company also made varying cash payments to each of the holders, totaling $12.0 million in the aggregate, of which $10.4 million was recognized in total as Debt Conversion Expense on the Condensed Consolidated Statement of Comprehensive Loss for the nine months ended September 30, 2013 and $1.6 million was for accrued interest. Additionally, the Company reclassified $2.3 million of deferred offering costs to additional paid-in capital in connection with the conversion of the 2017 Notes. | |||||||||
In March 2006, the Company sold $172.5 million of senior subordinated convertible notes due in March 2013 (the 2013 Notes), which fully matured on March 29, 2013. The debt was issued at face value and bore interest at the rate of 2.5% per annum, payable semi-annually in cash. The debt was convertible, at the option of the holder, at any time prior to maturity or redemption, into shares of the Company’s common stock at a conversion price of approximately $16.58 per share, subject to adjustment in certain circumstances. The debt did not include a call provision and the Company was unable to unilaterally redeem the debt prior to maturity on March 29, 2013. Upon maturity of the remaining convertible notes outstanding in March 2013, the Company issued the requisite 1,403,735 shares of common stock pursuant to the 2013 Notes to the bond holders, in exchange for $23.3 million in aggregate principal and paid one bond holder the par value at maturity in cash totaling $98. | |||||||||
The Company’s total fixed rate convertible debt outstanding was as follows: | |||||||||
  | September 30, 2013 |   | December 31, 2012 | ||||||
Fixed rate convertible debt on balance sheet | Â Â | $ | 78,310 | Â Â | Â Â | $ | 348,224 | Â Â | |
Fair value of fixed rate convertible debt | Â Â | $ | 280,387 | Â Â | Â Â | $ | 811,798 | Â Â | |
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. | |||||||||
Interest expense on the Company’s convertible debt for the three and nine months ended September 30, 2013 was $0.5 million and $2.5 million, respectively, compared to $1.7 million and $5.0 million for the three months and nine months ended September 30, 2012, respectively. |
FAIR_VALUE_MEASUREMENTS
FAIR VALUE MEASUREMENTS | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
FAIR VALUE MEASUREMENTS | (14) FAIR VALUE MEASUREMENTS | ||||||||||||||||
The Company measures certain financial assets and liabilities at fair value on a recurring basis, including available-for-sale fixed income securities and foreign currency derivatives. The tables below present the fair value of these financial assets and liabilities determined using the following input levels. | |||||||||||||||||
  | Fair Value Measurements at September 30, 2013 | ||||||||||||||||
  | Quoted Price in |   | Significant Other |   | Significant |   | Total | ||||||||||
Active Markets | Observable Inputs | Unobservable | |||||||||||||||
for Identical | (Level 2) | Inputs | |||||||||||||||
Assets | (Level 3) | ||||||||||||||||
(Level 1) | |||||||||||||||||
Assets: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Cash and cash equivalents: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Overnight deposits | Â Â | $ | 170,717 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 170,717 | Â Â | |
Money market instruments | Â Â | 0 | Â Â | Â Â | 10,848 | Â Â | Â Â | 0 | Â Â | Â Â | 10,848 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total cash and cash equivalents | Â Â | $ | 170,717 | Â Â | Â Â | $ | 10,848 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 181,565 | Â Â | |
  |   |   |   | ||||||||||||||
Available-for-sale securities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Short-term: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Certificates of deposit | Â Â | $ | 0 | Â Â | Â Â | $ | 31,061 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 31,061 | Â Â | |
Corporate debt securities | Â Â | 0 | Â Â | Â Â | 94,472 | Â Â | Â Â | 0 | Â Â | Â Â | 94,472 | Â Â | |||||
Corporate equity securities | Â Â | 0 | Â Â | Â Â | 20,333 | Â Â | Â Â | 0 | Â Â | Â Â | 20,333 | Â Â | |||||
Commercial paper | Â Â | 0 | Â Â | Â Â | 52,220 | Â Â | Â Â | 0 | Â Â | Â Â | 52,220 | Â Â | |||||
Long-term: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Certificates of deposit | Â Â | 0 | Â Â | Â Â | 14,472 | Â Â | Â Â | 0 | Â Â | Â Â | 14,472 | Â Â | |||||
Corporate debt securities | Â Â | 0 | Â Â | Â Â | 124,270 | Â Â | Â Â | 0 | Â Â | Â Â | 124,270 | Â Â | |||||
U.S. Government agency securities | Â Â | 0 | Â Â | Â Â | 8,901 | Â Â | Â Â | 0 | Â Â | Â Â | 8,901 | Â Â | |||||
Greek government-issued bonds | Â Â | 0 | Â Â | Â Â | 128 | Â Â | Â Â | 0 | Â Â | Â Â | 128 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total available-for-sale securities | Â Â | $ | 0 | Â Â | Â Â | $ | 345,857 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 345,857 | Â Â | |
  |   |   |   | ||||||||||||||
Other Current Assets: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan assets | Â Â | $ | 0 | Â Â | Â Â | $ | 49 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 49 | Â Â | |
Restricted investments (2) | Â Â | 0 | Â Â | Â Â | 2,528 | Â Â | Â Â | 0 | Â Â | Â Â | 2,528 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total other current assets | Â Â | $ | 0 | Â Â | Â Â | $ | 2,577 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 2,577 | Â Â | |
  |   |   |   | ||||||||||||||
Other Assets: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan assets | Â Â | $ | 0 | Â Â | Â Â | $ | 3,350 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 3,350 | Â Â | |
Restricted investments (2) | Â Â | 0 | Â Â | Â Â | 1,489 | Â Â | Â Â | 0 | Â Â | Â Â | 1,489 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total other assets | Â Â | $ | 0 | Â Â | Â Â | $ | 4,839 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 4,839 | Â Â | |
  |   |   |   | ||||||||||||||
Total assets | Â Â | $ | 170,171 | Â Â | Â Â | $ | 364,121 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 534,838 | Â Â | |
  |   |   |   | ||||||||||||||
Liabilities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Current Liabilities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan liability | Â Â | $ | 1,510 | Â Â | Â Â | $ | 49 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 1,559 | Â Â | |
Forward foreign currency exchange contract liability (1) |   | 0 |   |   | 1,820 |   |   | 0 |   |   | 1,820 |   | |||||
Contingent acquisition consideration payable | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 26,536 | Â Â | Â Â | 26,536 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total current liabilities | Â Â | $ | 1,510 | Â Â | Â Â | $ | 1,869 | Â Â | Â Â | $ | 26,536 | Â Â | Â Â | $ | 29,915 | Â Â | |
  |   |   |   | ||||||||||||||
Other long-term liabilities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan liability | Â Â | $ | 12,468 | Â Â | Â Â | $ | 3,350 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 15,818 | Â Â | |
Forward foreign currency exchange contract liability (1) |   | 0 |   |   | 131 |   |   | 0 |   |   | 131 |   | |||||
Contingent acquisition consideration payable | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 26,500 | Â Â | Â Â | 26,500 | Â Â | |||||
Asset retirement obligation | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 4,014 | Â Â | Â Â | 4,014 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total other long-term liabilities | Â Â | $ | 12,468 | Â Â | Â Â | $ | 3,481 | Â Â | Â Â | $ | 30,514 | Â Â | Â Â | $ | 46,463 | Â Â | |
  |   |   |   | ||||||||||||||
Total liabilities | Â Â | $ | 13,978 | Â Â | Â Â | $ | 5,350 | Â Â | Â Â | $ | 57,050 | Â Â | Â Â | $ | 76,378 | Â Â | |
  |   |   |   | ||||||||||||||
  | Fair Value Measurements at December 31, 2012 | ||||||||||||||||
  | Quoted Price in |   | Significant Other |   | Significant |   | Total | ||||||||||
Active Markets | Observable Inputs | Unobservable | |||||||||||||||
for Identical | (Level 2) | Inputs | |||||||||||||||
Assets | (Level 3) | ||||||||||||||||
(Level 1) | |||||||||||||||||
Assets: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Cash and cash equivalents: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Overnight deposits | Â Â | $ | 54,018 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 54,018 | Â Â | |
Money market instruments | Â Â | 0 | Â Â | Â Â | 126,509 | Â Â | Â Â | 0 | Â Â | Â Â | 126,509 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total cash and cash equivalents | Â Â | $ | 54,018 | Â Â | Â Â | $ | 126,509 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 180,527 | Â Â | |
  |   |   |   | ||||||||||||||
Available-for-sale securities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Short-term: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Certificates of deposit | Â Â | $ | 0 | Â Â | Â Â | $ | 36,615 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 36,615 | Â Â | |
Corporate debt securities | Â Â | 0 | Â Â | Â Â | 222,147 | Â Â | Â Â | 0 | Â Â | Â Â | 222,147 | Â Â | |||||
Corporate equity securities | Â Â | 0 | Â Â | Â Â | 2,933 | Â Â | Â Â | 0 | Â Â | Â Â | 2,933 | Â Â | |||||
U.S. Government agency securities | Â Â | 0 | Â Â | Â Â | 8,516 | Â Â | Â Â | 0 | Â Â | Â Â | 8,516 | Â Â | |||||
Long-term: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Certificates of deposit | Â Â | 0 | Â Â | Â Â | 12,139 | Â Â | Â Â | 0 | Â Â | Â Â | 12,139 | Â Â | |||||
Corporate debt securities | Â Â | 0 | Â Â | Â Â | 94,753 | Â Â | Â Â | 0 | Â Â | Â Â | 94,753 | Â Â | |||||
U.S. Government agency securities | Â Â | 0 | Â Â | Â Â | 9,001 | Â Â | Â Â | 0 | Â Â | Â Â | 9,001 | Â Â | |||||
Greek government-issued bonds | Â Â | 0 | Â Â | Â Â | 100 | Â Â | Â Â | 0 | Â Â | Â Â | 100 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total available-for-sale securities | Â Â | $ | 0 | Â Â | Â Â | $ | 386,204 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 386,204 | Â Â | |
  |   |   |   | ||||||||||||||
Other Current Assets: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan assets | Â Â | $ | 0 | Â Â | Â Â | $ | 2,052 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 2,052 | Â Â | |
Forward foreign currency exchange contract asset (1) |   | 0 |   |   | 1,547 |   |   | 0 |   |   | 1,547 |   | |||||
Restricted investments (2) | Â Â | 0 | Â Â | Â Â | 2,243 | Â Â | Â Â | 0 | Â Â | Â Â | 2,243 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total other current assets | Â Â | $ | 0 | Â Â | Â Â | $ | 5,842 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 5,842 | Â Â | |
  |   |   |   | ||||||||||||||
Other Assets: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan assets | Â Â | $ | 0 | Â Â | Â Â | $ | 2,375 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 2,375 | Â Â | |
Restricted investments (2) | Â Â | 0 | Â Â | Â Â | 3,492 | Â Â | Â Â | 0 | Â Â | Â Â | 3,492 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total other assets | Â Â | $ | 0 | Â Â | Â Â | $ | 5,867 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 5,867 | Â Â | |
  |   |   |   | ||||||||||||||
Total assets | Â Â | $ | 54,018 | Â Â | Â Â | $ | 524,422 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 578,440 | Â Â | |
  |   |   |   | ||||||||||||||
Liabilities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Current Liabilities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan liability | Â Â | $ | 6,440 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 6,440 | Â Â | |
Forward foreign currency exchange contract liability (1) |   | 0 |   |   | 1,078 |   |   | 0 |   |   | 1,078 |   | |||||
Contingent acquisition consideration payable | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 10,764 | Â Â | Â Â | 10,764 | Â Â | |||||
Asset retirement obligation | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 1,685 | Â Â | Â Â | 1,685 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total current liabilities | Â Â | $ | 6,440 | Â Â | Â Â | $ | 1,078 | Â Â | Â Â | $ | 12,449 | Â Â | Â Â | $ | 19,967 | Â Â | |
  |   |   |   | ||||||||||||||
Other long-term liabilities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan liability | Â Â | $ | 5,041 | Â Â | Â Â | $ | 4,427 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 9,468 | Â Â | |
Forward foreign currency exchange contract liability (1) |   | 0 |   |   | 368 |   |   | 0 |   |   | 368 |   | |||||
Contingent acquisition consideration payable | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 30,618 | Â Â | Â Â | 30,618 | Â Â | |||||
Asset retirement obligation | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 2,192 | Â Â | Â Â | 2,192 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total other long-term liabilities | Â Â | $ | 5,041 | Â Â | Â Â | $ | 4,795 | Â Â | Â Â | $ | 32,810 | Â Â | Â Â | $ | 42,646 | Â Â | |
  |   |   |   | ||||||||||||||
Total liabilities | Â Â | $ | 11,481 | Â Â | Â Â | $ | 5,873 | Â Â | Â Â | $ | 45,259 | Â Â | Â Â | $ | 62,613 | Â Â | |
  |   |   |   | ||||||||||||||
-1 | See Note 12 to these Condensed Consolidated Financial Statements for further information regarding the derivative instruments. | ||||||||||||||||
-2 | The restricted investments secure the Company’s irrevocable standby letter of credit obtained in connection with the Company’s new corporate facility lease agreements and certain commercial agreements. | ||||||||||||||||
There were no transfers between levels during the three and nine months ended September 30, 2013. | |||||||||||||||||
The Company’s Level 2 securities are valued using third-party pricing sources. The pricing services utilize industry standard valuation models, including both income and market-based approaches, for which all significant inputs are observable, either directly or indirectly, to estimate fair value. These inputs include reported trades of and broker/dealer quotes on the same or similar securities, issuer credit spreads, benchmark securities, prepayment/default projections based on historical data and other observable inputs. | |||||||||||||||||
The Company validates the prices provided by its third-party pricing services by understanding the models used, obtaining market values from other pricing sources, analyzing pricing data in certain instances and confirming those securities traded in active markets. Due to the continued volatility associated with market conditions in Greece and reduced trading activity in its sovereign debt, the Company classified its Greek government-issued bonds as Level 2 on September 30, 2013 and December 31 2012. See Note 6 to these Condensed Consolidated Financial Statements for further information regarding the Company’s financial instruments. | |||||||||||||||||
Liabilities measured at fair value using Level 3 inputs were comprised of contingent acquisition consideration payable and asset retirement obligations. | |||||||||||||||||
The Company’s contingent acquisition consideration payable is estimated using a probability-based income approach utilizing an appropriate discount rate. Key assumptions used by management to estimate the fair value of contingent acquisition consideration payable include estimated probabilities, the estimated timing of when a milestone may be attained and assumed discount periods and rates. Subsequent changes in the fair value of the contingent acquisition consideration payable, resulting from management’s revision of key assumptions, will be recorded in Intangible Asset Amortization and Contingent Consideration on the Condensed Consolidated Statements of Comprehensive Loss. | |||||||||||||||||
Contingent acquisition consideration payable at December 31, 2012 |   | $ | 41,382 |   | |||||||||||||
Changes in the fair value of the contingent acquisition consideration payable | Â Â | 9,816 | Â Â | ||||||||||||||
Addition of contingent consideration payable related to the Zacharon acquisition | Â Â | 1,857 | Â Â | ||||||||||||||
Milestone payment to former LEAD shareholders | Â Â | (19 | )Â | ||||||||||||||
  | |||||||||||||||||
Contingent acquisition consideration payable at September 30, 2013 |   | $ | 53,036 |   | |||||||||||||
  | |||||||||||||||||
Under certain of the Company’s lease agreements, the Company is contractually obligated to return leased space to its original condition upon termination of the lease agreement. The Company records an asset retirement obligation liability and a corresponding capital asset in an amount equal to the estimated fair value of the obligation when estimable. In subsequent periods, for each such lease, the Company records interest expense to accrete the asset retirement obligation liability to full value and depreciates each capitalized asset retirement obligation asset, both over the term of the associated lease agreement. The Company’s asset retirement obligations were $4.0 million at September 30, 2013 and $3.9 million at December 31, 2012. | |||||||||||||||||
The Company acquired intangible assets as a result of various business acquisitions. The estimated fair value of these long-lived assets was measured using Level 3 inputs as of the acquisition date. |
STOCKBASED_COMPENSATION
STOCK-BASED COMPENSATION | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
STOCK-BASED COMPENSATION | (15) STOCK-BASED COMPENSATION | ||||||||||||||||
On May 8, 2012, the Company’s Board of Directors approved the BioMarin Pharmaceutical Inc. 2012 Inducement Plan (the 2012 Inducement Plan), which provided for grants of up to 750,000 share-based awards to new employees including grants of restricted stock units and grants of options to purchase common stock at a price equal to the fair market value of such shares. The awards granted under the 2012 Inducement Plan are substantially similar to those granted under the Company’s 2006 Share Incentive Plan as amended and restated on March 22, 2010 and as further amended on May 15, 2013 (the 2006 Share Incentive Plan). The 2012 Inducement Plan expired in May 2013 and no further awards will be made under the plan. | |||||||||||||||||
In addition to the 2012 Inducement Plan, the Company’s stock-based compensation plans include the 2006 Share Incentive Plan and the Employee Stock Purchase Plan (the ESPP). The Company’s stock-based compensation plans are administered by the Compensation Committee of the Board of Directors, which selects persons to receive awards and determines the number of shares subject to each award and the terms, conditions, performance measures and other provisions of the award. See Note 13 to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012, for additional information related to these stock-based compensation plans. | |||||||||||||||||
Determining the Fair Value of Stock Options and Stock Purchase Rights | |||||||||||||||||
The fair value of each option award is estimated on the date of grant using the Black-Scholes valuation model and the assumptions noted in the tables below. The expected life of options is based on observed historical exercise patterns. Groups of employees that have similar historical exercise patterns were considered separately for valuation purposes, but none were identified that had distinctly different exercise patterns as of September 30, 2013. The expected volatility of stock options is based upon the weighted average of the historical volatility of the Company’s common stock and the implied volatility of traded options on the Company’s common stock for fiscal periods in which there is sufficient trading volume in options on the Company’s common stock. The risk-free interest rate is based on the implied yield on a U.S. Treasury zero-coupon issue with a remaining term equal to the expected term of the option. The dividend yield reflects that the Company has not paid any cash dividends since inception and does not intend to pay any cash dividends in the foreseeable future. The assumptions used to estimate the per share fair value of stock options granted under the 2012 Inducement Plan and the 2006 Share Incentive Plan were as follows: | |||||||||||||||||
  | Three Months Ended September 30, |   | Nine Months Ended September 30, | ||||||||||||||
  | 2013 |   | 2012 |   | 2013 |   | 2012 | ||||||||||
Expected volatility |   | 44% |   | 46% |   | 44 – 45% |   | 45 – 46% | |||||||||
Dividend yield | Â Â | 0.00% | Â Â | 0.00% | Â Â | 0.00% | Â Â | 0.00% | |||||||||
Expected life | Â Â | 6.8Â years | Â Â | 6.5Â years | Â Â | 6.6-6.8Â years | Â Â | 6.5Â years | |||||||||
Risk-free interest rate |   | 2.20% |   | 0.90% |   | 1.0 – 2.4% |   | 0.8 – 1.1% | |||||||||
During the nine months ended September 30, 2013, the Company granted 2,403,722 million options with a weighted average option value of $30.62 per option. | |||||||||||||||||
The Company did not grant any new stock purchase rights under the ESPP during the three months ended September 30, 2013. | |||||||||||||||||
Restricted Stock Unit Awards with Service-Based Vesting Conditions | |||||||||||||||||
Restricted stock units (RSUs) are generally subject to forfeiture if employment terminates prior to the release of vesting restrictions. The Company expenses the cost of the RSUs, which is determined to be the fair market value of the shares of common stock underlying the RSUs at the date of grant, ratably over the period during which the vesting restrictions lapse. During the nine months ended September 30, 2013, the Company granted 558,231 RSUs with a weighted average fair market value of $66.74 per share. | |||||||||||||||||
Restricted Stock Unit Awards with Performance and Market-Based Vesting Conditions | |||||||||||||||||
Pursuant to the approval of the Board of Directors, the Company granted RSU awards with performance and market-based vesting conditions during 2012 and 2011 to certain executive officers. As of September 30, 2013, these awards provide for a base award of 860,000 RSUs (Base RSUs), with a weighted-average grant date fair value of $34.66. The number of RSUs that could potentially vest from the Base RSUs granted is contingent upon achievement of specific performance goals and will be multiplied by the Total Shareholder Return multiplier which could range from 75% to 125% to determine the number of earned RSUs. | |||||||||||||||||
Stock-based compensation expense for this award will be recognized over the remaining service period beginning in the period the Company determines that achievement of strategic performance goal or goals is probable. Accordingly, because the Company’s management has not determined that the achievement of the goals is probable as of September 30, 2013, no compensation expense has been recognized for these awards for the three and nine months ended September 30, 2013 and 2012. | |||||||||||||||||
Compensation expense included in the Condensed Consolidated Statements of Comprehensive Loss for all stock-based compensation arrangements was as follows: | |||||||||||||||||
  | Three Months Ended September 30, |   | Nine Months Ended September 30, | ||||||||||||||
  | 2013 |   | 2012 |   | 2013 |   | 2012 | ||||||||||
Cost of sales | Â Â | $ | 1,489 | Â Â | Â Â | $ | 1,327 | Â Â | Â Â | $ | 3,663 | Â Â | Â Â | $ | 3,535 | Â Â | |
Research and development | Â Â | 7,116 | Â Â | Â Â | 5,060 | Â Â | Â Â | 18,821 | Â Â | Â Â | 15,351 | Â Â | |||||
Selling, general and administrative | Â Â | 7,600 | Â Â | Â Â | 5,752 | Â Â | Â Â | 19,214 | Â Â | Â Â | 17,021 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total stock-based compensation expense | Â Â | $ | 16,205 | Â Â | Â Â | $ | 12,139 | Â Â | Â Â | $ | 41,698 | Â Â | Â Â | $ | 35,907 | Â Â | |
  |   |   |   | ||||||||||||||
Stock-based compensation of $4.2 million and $3.0 million was capitalized into inventory for the nine months ended September 30, 2013 and 2012, respectively. Capitalized stock-based compensation is recognized as cost of sales when the related product is sold. |
NET_LOSS_PER_COMMON_SHARE
NET LOSS PER COMMON SHARE | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
NET LOSS PER COMMON SHARE | (16) NET LOSS 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 restricted stock, common stock held by the Company’s Nonqualified Deferred Compensation Plan and contingent issuances of common stock related to convertible debt. The table below presents potential shares of common stock that were excluded from the computation as they were anti-dilutive using the treasury stock method (in thousands): | |||||||||||||||||
  | Three Months Ended September 30, |   | Nine Months Ended September 30, | ||||||||||||||
  |     2013    |   |     2012    |   |     2013    |   |     2012    | ||||||||||
Options to purchase common stock | Â Â | 13,421 | Â Â | Â Â | 15,998 | Â Â | Â Â | 13,421 | Â Â | Â Â | 15,998 | Â Â | |||||
Common stock issuable under convertible debt | Â Â | 3,846 | Â Â | Â Â | 17,370 | Â Â | Â Â | 3,846 | Â Â | Â Â | 17,370 | Â Â | |||||
Unvested restricted stock units | Â Â | 1,235 | Â Â | Â Â | 1,297 | Â Â | Â Â | 1,180 | Â Â | Â Â | 1,256 | Â Â | |||||
Potentially issuable common stock for ESPP purchases | Â Â | 290 | Â Â | Â Â | 263 | Â Â | Â Â | 282 | Â Â | Â Â | 254 | Â Â | |||||
Common stock held by the Nonqualified Deferred Compensation Plan | Â Â | 194 | Â Â | Â Â | 233 | Â Â | Â Â | 194 | Â Â | Â Â | 233 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total number of potentially issuable shares | Â Â | 18,986 | Â Â | Â Â | 35,161 | Â Â | Â Â | 18,923 | Â Â | Â Â | 35,111 | Â Â | |||||
  |   |   |   | ||||||||||||||
See Note 20 to these Condensed Consolidated Financial Statements for additional discussion regarding potential common shares outstanding at September 30, 2013 had the issuance of the Company’s Senior Subordinated Convertible Notes due in October 2018 and 2020 occurred on or before September 30, 2013. |
COMPREHENSIVE_INCOME
COMPREHENSIVE INCOME | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
COMPREHENSIVE INCOME | (17) COMPREHENSIVE INCOME | ||||||||||||||||
The following table summarizes amounts reclassified out of Accumulated Other Comprehensive Income/(Loss) (AOCI) and their effect on the Company’s Condensed Consolidated Statements of Comprehensive Loss for the three and nine months ended September 30, 2013. | |||||||||||||||||
  | Amount Reclassified from AOCI | ||||||||||||||||
(Gain)/Loss | |||||||||||||||||
Details about AOCI Components |   | Three Months | Nine Months | Condensed Consolidated Statement of | |||||||||||||
Ended | Ended | Comprehensive Loss Classification | |||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||
Gains on cash flow hedges: | Â Â | ||||||||||||||||
Forward foreign currency exchange contracts |   | $ | (101 | ) | $ | (928 | ) | Net product revenues | |||||||||
Forward foreign currency exchange contracts |   | 0 |   | (40 | ) | Selling, general and administrative | |||||||||||
  | 36 |   | 349 |   | Provision for income taxes | ||||||||||||
  | |||||||||||||||||
  | $ | (65 | ) | $ | (619 | ) | Net loss | ||||||||||
  | |||||||||||||||||
The following table summarizes changes in the accumulated balances for each component, of other comprehensive income/(loss), including current period other comprehensive income and reclassifications act of AOCI, for the nine months ended September 30, 2013. | |||||||||||||||||
  | Gains/(Losses) | Unrealized |   | Foreign | Total | ||||||||||||
on Cash Flow | Gain/(Losses) on | Currency | |||||||||||||||
Hedges | Available-for-sale | Translation | |||||||||||||||
Securities | Adjustments | ||||||||||||||||
AOCI balance, net of tax at December 31, 2012 |   | $ | (97 | ) | $ | 133 |   |   | $ | (238 | ) | $ | (202 | ) | |||
Other comprehensive income before reclassifications | Â Â | (606 | )Â | 11,007 | Â Â | Â Â | 1,893 | Â Â | 12,294 | Â Â | |||||||
Amounts reclassified from AOCI | Â Â | (619 | )Â | 0 | Â Â | Â Â | 0 | Â Â | (619 | )Â | |||||||
  |   | ||||||||||||||||
Net increase in other comprehensive income (loss) |   | (1,225 | ) | 11,007 |   |   | 1,893 |   | 11,675 |   | |||||||
  |   | ||||||||||||||||
AOCI balance, net of tax at September 30, 2013 |   | $ | (1,322 | ) | $ | 11,140 |   |   | $ | 1,655 |   | $ | 11,473 |   | |||
  |   |
REVENUE_AND_CREDIT_CONCENTRATI
REVENUE AND CREDIT CONCENTRATIONS | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
REVENUE AND CREDIT CONCENTRATIONS | (18) REVENUE AND CREDIT CONCENTRATIONS | ||||||||||||||||||||
Net Product Revenue—The Company considers there to be revenue concentration risks for regions where net product revenue exceeds ten percent of consolidated net product revenue. The concentration of the Company’s net product revenue within the regions below may have a material adverse effect on the Company’s revenue and results of operations if sales in the respective regions experience difficulties. | |||||||||||||||||||||
The table below summarizes net product revenue concentrations based on patient location for Naglazyme, Kuvan and Firdapse and Genzyme’s headquarters for Aldurazyme. Although Genzyme sells Aldurazyme worldwide, the royalties earned by the Company on Genzyme’s net sales are included in the U.S. region, as the transactions are with Genzyme whose headquarters are located in the U.S. | |||||||||||||||||||||
  | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||
  |     2013    |     2012    |     2013    |     2012    | |||||||||||||||||
Region: | Â Â | ||||||||||||||||||||
United States | Â Â | 54 | %Â | 53 | %Â | 51 | %Â | 50 | %Â | ||||||||||||
Europe | Â Â | 21 | %Â | 21 | %Â | 21 | %Â | 22 | %Â | ||||||||||||
Latin America | Â Â | 8 | %Â | 14 | %Â | 12 | %Â | 15 | %Â | ||||||||||||
Rest of world | Â Â | 17 | %Â | 12 | %Â | 16 | %Â | 13 | %Â | ||||||||||||
  | |||||||||||||||||||||
Total net product revenue | Â Â | 100 | %Â | 100 | %Â | 100 | %Â | 100 | %Â | ||||||||||||
  | |||||||||||||||||||||
The following table illustrates the percentage of the consolidated net product revenue attributed to the Company’s four largest customers. | |||||||||||||||||||||
  | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||
  |     2013    |     2012    |     2013    |     2012    | |||||||||||||||||
Customer A | Â Â | 15% | 14% | 15% | 15% | ||||||||||||||||
Customer B (1) | Â Â | 17% | 18% | 15% | 15% | ||||||||||||||||
Customer C | Â Â | 4% | 11% | 8% | 12% | ||||||||||||||||
Customer D | Â Â | 11% | 9% | 11% | 9% | ||||||||||||||||
  | |||||||||||||||||||||
Total | Â Â | 47% | 52% | 49% | 51% | ||||||||||||||||
  | |||||||||||||||||||||
-1 | Genzyme is the Company’s sole customer for Aldurazyme and is responsible for marketing and selling Aldurazyme to third-parties. Net product revenues from Genzyme are comprised of royalties on worldwide net Aldurazyme sales and incremental product transfer revenue. | ||||||||||||||||||||
The accounts receivable balances at September 30, 2013 and December 31, 2012 were comprised of amounts due from customers for net product sales of Naglazyme, Kuvan and Firdapse and Aldurazyme product transfer and royalty revenues. On a consolidated basis, the Company’s two largest customers accounted for 39% and 13% of the September 30, 2013 accounts receivable balance, respectively, compared to December 31, 2012 when the two largest customers accounted for 51% and 13% of the accounts receivable balance, respectively. As of September 30, 2013 and December 31, 2012, accounts receivable for the Company’s largest customer balance included $28.2 million and $32.4 million, respectively, of unbilled accounts receivable related to net incremental Aldurazyme product transfers to Genzyme. The Company does not require collateral from its customers, but does perform periodic credit evaluations of its customers’ financial condition and requires immediate payment in certain circumstances. | |||||||||||||||||||||
The Company’s product sales to government-owned or government-funded customers in certain European countries, including Italy, Spain, Portugal and Greece, are subject to payment terms that are statutorily determined. Because these customers are government-owned or government-funded, the Company may be impacted by declines in sovereign credit ratings or sovereign defaults in these countries. A significant or further decline in sovereign credit ratings or a default in these countries may decrease the likelihood that the Company will collect accounts receivable or may increase the discount rates and the length of time until receivables are collected, which could result in a negative impact to the Company’s operating results. In both the three and nine months ended September 30, 2013, approximately 4% of the Company’s net product revenues were from these countries. Additionally, approximately 12% of the Company’s outstanding accounts receivable at September 30, 2013 related to such countries. | |||||||||||||||||||||
The following table summarizes the accounts receivable by country that were past due related to Italy, Spain, Portugal and Greece, the number of days past due and the total allowance for doubtful accounts related to each of these countries at September 30, 2013. | |||||||||||||||||||||
  | Days Past Due |   | |||||||||||||||||||
  | < 180 Days |   | 180 —360 |   | > 360 Days |   | Total Amount |   | Allowance for | ||||||||||||
Days | Past Due | Doubtful Accounts | |||||||||||||||||||
Italy | Â Â | $ | 0 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 0 | Â Â | |
Spain | Â Â | 1,920 | Â Â | Â Â | 1,467 | Â Â | Â Â | 1,216 | Â Â | Â Â | 4,603 | Â Â | Â Â | 0 | Â Â | ||||||
Portugal | Â Â | 267 | Â Â | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 267 | Â Â | Â Â | 0 | Â Â | ||||||
Greece | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 359 | Â Â | Â Â | 359 | Â Â | Â Â | 359 | Â Â | ||||||
  |   |   |   |   | |||||||||||||||||
Total | Â Â | $ | 2,187 | Â Â | Â Â | $ | 1,467 | Â Â | Â Â | $ | 1,575 | Â Â | Â Â | $ | 5,229 | Â Â | Â Â | $ | 359 | Â Â | |
  |   |   |   |   | |||||||||||||||||
The Company has not historically experienced a significant level of uncollected receivables and has received continued payments from its more aged accounts. The Company believes that the allowances for doubtful accounts related to these countries is adequate based on its analysis of the specific business circumstances and expectations of collection for each of the underlying accounts in these countries. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 9 Months Ended |
Sep. 30, 2013 | |
COMMITMENTS AND CONTINGENCIES | (19) COMMITMENTS AND CONTINGENCIES |
The Company is also subject to contingent payments totaling approximately $438.4 million as of September 30, 2013, which are due upon achievement of certain regulatory and licensing milestones if they occur before certain dates in the future. Of this amount, $57.6 million relates to programs that are no longer being developed. |
SUBSEQUENT_EVENT
SUBSEQUENT EVENT | 9 Months Ended |
Sep. 30, 2013 | |
SUBSEQUENT EVENT | (20) SUBSEQUENT EVENT |
On October 15, 2013, the Company completed an offering of $750.0 million in aggregate principal of senior subordinated convertible notes consisting of $375.0 million 0.75% Senior Subordinated Convertible Notes due in October 2018 (the 2018 Notes) and $375.0 million 1.50% Senior Subordinated Convertible Notes due in October 2020 (the 2020 Notes and collectively the Notes). The net proceeds from the offering were approximately $726.4 million, after deducting commissions and estimated offering expenses payable by the Company. The 2018 Notes and the 2020 Notes accrue interest at annual rates of 0.75% and 1.50%, respectively, with interest payable semiannually in arrears on April 15 and October 15 of each year beginning on April 15, 2014. The Notes are convertible, under certain circumstances, into cash, shares of the Company’s common stock or a combination at the Company’s election. The initial conversion rate is 10.6213 shares of common stock per $1,000 principal amount of Notes, representing the initial conversion price of approximately $94.15 per common share. | |
Concurrent with the issuance of the Notes, the Company used approximately $29.8 million of proceeds to enter into privately-negotiated capped call transactions with respect to 50% of the principal amount of the 2018 Notes and 50% of the principal amount of the 2020 Notes with certain of the underwriters of the Notes or their affiliates. The capped call transactions are generally expected to reduce potential dilution of the Company’s common stock upon conversion of the relevant Notes in excess of the principal amount of the Notes. The capped call transactions have a cap price of approximately $121.05, subject to certain adjustments under the terms of the capped call transactions. |
SIGNIFICANT_ACCOUNTING_POLICIE1
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Inventory | Inventory |
The Company values inventory at the lower of cost or net realizable value and determines the cost of inventory using the average-cost method. Inventories consist of currently marketed products and may contain certain products awaiting regulatory approval. In evaluating the recoverability of inventories produced in preparation for product launches, the Company considers the likelihood that revenue will be obtained from the future sale of the related inventory together with the status of the product within the regulatory approval process. | |
The Company analyzes its inventory levels quarterly and writes down inventory that has become obsolete, or has a cost basis in excess of its expected net realizable value and inventory quantities in excess of expected requirements. In applying the lower of cost or net realizable value to pre-launch inventory, the Company estimates a range of likely commercial prices based on its comparable commercial products. Expired inventory is disposed of and the related costs are recognized as Cost of Sales in the Condensed Consolidated Statements of Comprehensive Loss. | |
Reclassifications | Reclassifications |
Certain items in the Company’s prior year Condensed Consolidated Financial Statements have been reclassified to conform to the current presentation. | |
Prior to Regulatory Approval | |
Inventory | Inventories Produced in Preparation for Product Launches |
The Company capitalizes inventories produced in preparation for product launches sufficient to support estimated initial market demand. Typically, capitalization of such inventory begins when positive results have been obtained for the clinical trials that the Company believes are necessary to support regulatory approval, uncertainties regarding ultimate regulatory approval have been significantly reduced and the Company has determined it is probable that these capitalized costs will provide some future economic benefit in excess of capitalized costs. The material factors considered by the Company in evaluating these uncertainties include the receipt and analysis of positive Phase 3 clinical trial results for the underlying product candidate, results from meetings with the relevant regulatory authorities prior to the filing of regulatory applications, and the compilation of the regulatory application. The Company closely monitors the status of each respective product within the regulatory approval process, including all relevant communication with regulatory authorities. The Company also considers its historical experience with manufacturing and commercializing similar products and the relevant product candidate. If the Company is aware of any specific material risks or contingencies other than the normal regulatory review and approval process or if there are any specific issues identified relating to safety, efficacy, manufacturing, marketing or labeling, the related inventory would generally not be capitalized. | |
For inventories that are capitalized in preparation of product launch, anticipated future sales, expected approval date and shelf lives are evaluated in assessing realizability. The shelf life of a product is determined as part of the regulatory approval process; however in evaluating whether to capitalize pre-launch inventory production costs, the Company considers the product stability data of all of the pre-approval production to date to determine whether there is adequate expected shelf life for the capitalized pre-launch production costs. |
ACQUISITION_OF_ZACHARON_PHARMA1
ACQUISITION OF ZACHARON PHARMACEUTICALS, INC. (Tables) (Zacharon Pharmaceuticals Inc) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Zacharon Pharmaceuticals Inc | |||||
Schedule of Purchase Price Allocation | The following table presents the final allocation of the purchase consideration for the Zacharon acquisition, including the contingent acquisition consideration payable, based on fair value. The final allocation includes an adjustment to goodwill and the deferred tax assets of approximately $0.7 million resulting from the finalization of Zacharon’s tax returns. | ||||
Cash and cash equivalents | Â Â | $ | 560 | Â Â | |
Other current assets | Â Â | 216 | Â Â | ||
Property, plant and equipment | Â Â | 398 | Â Â | ||
Acquired deferred tax assets | Â Â | 2,625 | Â Â | ||
Other assets | Â Â | 38 | Â Â | ||
Intangible assets—In Process Research & Development (IPR&D) |   | 11,680 |   | ||
  | |||||
Total identifiable assets acquired | Â Â | $ | 15,517 | Â Â | |
  | |||||
Accounts payable and accrued expenses | Â Â | $ | (1,182 | ) | |
Debt assumed | Â Â | (1,313 | )Â | ||
Deferred tax liability | Â Â | (4,217 | ) | ||
  | |||||
Total liabilities assumed | Â Â | $ | (6,712 | ) | |
  | |||||
Net identifiable assets acquired | Â Â | $ | 8,805 | Â Â | |
Goodwill | Â Â | 2,715 | Â Â | ||
  | |||||
Net assets acquired | Â Â | $ | 11,520 | Â Â | |
  |
INVESTMENTS_Tables
INVESTMENTS (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Amortized Cost, Gross Unrealized Holding Gain or Loss, and Fair Value of Available For Sale Security by Major Security type | The amortized cost, gross unrealized holding gains or losses, and fair value of the Company’s available-for-sale securities by major security type at September 30, 2013 were as follows: | ||||||||||||||||
  | Amortized |   | Gross |   | Gross | Fair Value | |||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||
Holding Gains | Holding Losses | ||||||||||||||||
Certificates of deposit | Â Â | $ | 45,530 | Â Â | Â Â | $ | 3 | Â Â | Â Â | $ | 0 | Â Â | $ | 45,533 | Â Â | ||
Corporate debt securities | Â Â | 218,767 | Â Â | Â Â | 231 | Â Â | Â Â | (256 | )Â | 218,742 | Â Â | ||||||
Corporate equity securities | Â Â | 3,000 | Â Â | Â Â | 17,333 | Â Â | Â Â | 0 | Â Â | 20,333 | Â Â | ||||||
Commercial paper | Â Â | 52,182 | Â Â | Â Â | 38 | Â Â | Â Â | 0 | Â Â | 52,220 | Â Â | ||||||
U.S. Government agency securities | Â Â | 8,900 | Â Â | Â Â | 1 | Â Â | Â Â | 0 | Â Â | 8,901 | Â Â | ||||||
Greek government-issued bonds | Â Â | 51 | Â Â | Â Â | 77 | Â Â | Â Â | 0 | Â Â | 128 | Â Â | ||||||
  |   |   | |||||||||||||||
Total | Â Â | $ | 328,430 | Â Â | Â Â | $ | 17,683 | Â Â | Â Â | $ | (256 | )Â | $ | 345,857 | Â Â | ||
  |   |   | |||||||||||||||
The amortized cost, gross unrealized holding gains or losses, and fair value of the Company’s available-for-sale securities by major security type at December 31, 2012 were as follows: | |||||||||||||||||
  | Amortized |   | Gross |   | Gross | Fair Value | |||||||||||
Cost | Unrealized | Unrealized | |||||||||||||||
Holding Gains | Holding Losses | ||||||||||||||||
Certificates of deposit | Â Â | $ | 48,741 | Â Â | Â Â | $ | 14 | Â Â | Â Â | $ | (1 | ) | $ | 48,754 | Â Â | ||
Corporate debt securities | Â Â | 316,709 | Â Â | Â Â | 402 | Â Â | Â Â | (211 | )Â | 316,900 | Â Â | ||||||
Corporate equity securities | Â Â | 3,000 | Â Â | Â Â | 0 | Â Â | Â Â | (67 | ) | 2,933 | Â Â | ||||||
U.S. Government agency securities | Â Â | 17,512 | Â Â | Â Â | 5 | Â Â | Â Â | 0 | Â Â | 17,517 | Â Â | ||||||
Greek government-issued bonds | Â Â | 48 | Â Â | Â Â | 52 | Â Â | Â Â | 0 | Â Â | 100 | Â Â | ||||||
  |   |   | |||||||||||||||
Total | Â Â | $ | 386,010 | Â Â | Â Â | $ | 473 | Â Â | Â Â | $ | (279 | ) | $ | 386,204 | Â Â | ||
  |   |   | |||||||||||||||
Fair Values of Available-For-Sale Securities by Contractual Maturity | The fair values of available-for-sale securities by contractual maturity at September 30, 2013 and December 31, 2012 were as follows: | ||||||||||||||||
  | September 30, |   | December 31, | ||||||||||||||
2013 | 2012 | ||||||||||||||||
Maturing in one year or less | Â Â | $ | 198,086 | Â Â | Â Â | $ | 270,211 | Â Â | |||||||||
Maturing after one year through two years | Â Â | 147,771 | Â Â | Â Â | 115,993 | Â Â | |||||||||||
  |   | ||||||||||||||||
Total | Â Â | $ | 345,857 | Â Â | Â Â | $ | 386,204 | Â Â | |||||||||
  |   |
GOODWILL_Tables
GOODWILL (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Changes in Goodwill | The following table represents the changes in goodwill for the nine months ended September 30, 2013: | ||||
Balance at December 31, 2012 |   | $ | 51,543 |   | |
Addition of goodwill related to the acquisition of Zacharon | Â Â | 2,715 | Â Â | ||
  | |||||
Balance at September 30, 2013 |   | $ | 54,258 |   | |
  |
INTANGIBLE_ASSETS_Tables
INTANGIBLE ASSETS (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Schedule of Intangible Assets | Intangible assets consisted of the following: | ||||||||
  | September 30, | December 31, | |||||||
2013 | 2012 | ||||||||
Intangible assets: | Â Â | ||||||||
Finite-lived intangible assets | Â Â | $ | 118,242 | Â Â | $ | 118,242 | Â Â | ||
Indefinite-lived intangible assets | Â Â | 74,430 | Â Â | 63,689 | Â Â | ||||
  | |||||||||
Gross intangible assets: | Â Â | 192,672 | Â Â | 181,931 | Â Â | ||||
Less: Accumulated amortization | Â Â | (26,881 | )Â | (18,951 | )Â | ||||
  | |||||||||
Net carrying value | Â Â | $ | 165,791 | Â Â | $ | 162,980 | Â Â | ||
  |
PROPERTY_PLANT_AND_EQUIPMENT_T
PROPERTY, PLANT AND EQUIPMENT (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Schedule of Property Plant and Equipment Net | Property, plant and equipment, net consisted of the following: | ||||||||
  | September 30, | December 31, | |||||||
2013 | 2012 | ||||||||
Leasehold improvements | Â Â | $ | 67,083 | Â Â | $ | 65,918 | Â Â | ||
Building and improvements | Â Â | 154,479 | Â Â | 144,700 | Â Â | ||||
Manufacturing and laboratory equipment | Â Â | 88,865 | Â Â | 79,915 | Â Â | ||||
Computer hardware and software | Â Â | 63,164 | Â Â | 56,011 | Â Â | ||||
Furniture and equipment | Â Â | 12,152 | Â Â | 11,143 | Â Â | ||||
Land | Â Â | 11,608 | Â Â | 11,608 | Â Â | ||||
Construction-in-progress | Â Â | 64,756 | Â Â | 64,300 | Â Â | ||||
  | |||||||||
  | 462,107 |   | 433,595 |   | |||||
Less: Accumulated depreciation | Â Â | (176,443 | )Â | (149,122 | )Â | ||||
  | |||||||||
Total property, plant and equipment, net | Â Â | $ | 285,664 | Â Â | $ | 284,473 | Â Â | ||
  |
INVENTORY_Tables
INVENTORY (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Schedule of Inventory | Inventory consisted of the following: | ||||||||
  | September 30, |   | December 31, | ||||||
2013 | 2012 | ||||||||
Raw materials | Â Â | $ | 15,350 | Â Â | Â Â | $ | 11,943 | Â Â | |
Work-in-process | Â Â | 80,996 | Â Â | Â Â | 71,443 | Â Â | |||
Finished goods | Â Â | 52,338 | Â Â | Â Â | 45,309 | Â Â | |||
  |   | ||||||||
Total inventory | Â Â | $ | 148,684 | Â Â | Â Â | $ | 128,695 | Â Â | |
  |   |
SUPPLEMENTAL_BALANCE_SHEET_INF1
SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Schedule of Accounts Payable and Accrued Liabilities | Accounts payable and accrued liabilities consisted of the following: | ||||||||
  | September 30, |   | December 31, | ||||||
2013 | 2012 | ||||||||
Accounts payable | Â Â | $ | 15,632 | Â Â | Â Â | $ | 23,993 | Â Â | |
Accrued accounts payable | Â Â | 58,666 | Â Â | Â Â | 43,156 | Â Â | |||
Accrued vacation expense | Â Â | 9,717 | Â Â | Â Â | 8,403 | Â Â | |||
Accrued compensation expense | Â Â | 28,574 | Â Â | Â Â | 27,530 | Â Â | |||
Accrued royalties payable | Â Â | 5,279 | Â Â | Â Â | 4,991 | Â Â | |||
Accrued rebates payable | Â Â | 10,147 | Â Â | Â Â | 9,625 | Â Â | |||
Other accrued operating expenses | Â Â | 1,891 | Â Â | Â Â | 6,179 | Â Â | |||
Current portion of nonqualified deferred compensation liability | Â Â | 1,559 | Â Â | Â Â | 6,440 | Â Â | |||
Value added taxes payable | Â Â | 4,240 | Â Â | Â Â | 2,072 | Â Â | |||
Current portion of contingent acquisition consideration payable | Â Â | 26,536 | Â Â | Â Â | 10,764 | Â Â | |||
Other | Â Â | 5,392 | Â Â | Â Â | 3,915 | Â Â | |||
  |   | ||||||||
Total accounts payable and accrued liabilities | Â Â | $ | 167,633 | Â Â | Â Â | $ | 147,068 | Â Â | |
  |   |
DERIVATIVE_INSTRUMENTS_AND_HED1
DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Carrying Amount of Derivative Instruments | The fair value carrying amounts of the Company’s derivative instruments were as follows: | ||||||||||||||||
  | Asset Derivatives |   | Liability Derivatives | ||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||
  | Balance Sheet Location |   | Fair Value |   | Balance Sheet Location |   | Fair Value | ||||||||||
Derivatives designated as hedging instruments: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Forward foreign currency exchange contracts |   | Other current assets |   |   | $ | 0 |   |   | Accounts payable and |   |   | $ | 1,674 |   | |||
accrued liabilities |   | ||||||||||||||||
Forward foreign currency exchange contracts |   | Other assets |   |   | 0 |   |   | Other long- |   | 131 |   | ||||||
term liabilities |   | ||||||||||||||||
  |   |   |   | ||||||||||||||
Total | Â Â | Â Â | $ | 0 | Â Â | Â Â | Â Â | $ | 1,805 | Â Â | |||||||
  |   |   |   | ||||||||||||||
Derivatives not designated as hedging instruments: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Forward foreign currency exchange contracts |   | Other current assets |   |   | $ | 0 |   |   | Accounts payable and |   |   | $ | 146 |   | |||
accrued liabilities | Â Â | ||||||||||||||||
  |   |   |   | ||||||||||||||
Total | Â Â | Â Â | 0 | Â Â | Â Â | Â Â | 146 | Â Â | |||||||||
  |   |   |   | ||||||||||||||
Total value of derivative contracts | Â Â | Â Â | $ | 0 | Â Â | Â Â | Â Â | $ | 1,951 | Â Â | |||||||
  |   |   |   | ||||||||||||||
  | Asset Derivatives |   | Liability Derivatives | ||||||||||||||
December 31, 2012 | December 31, 2012 | ||||||||||||||||
  | Balance Sheet Location |   | Fair Value |   | Balance Sheet Location |   | Fair Value | ||||||||||
Derivatives designated as hedging instruments: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Forward foreign currency exchange contracts |   | Other current assets |   |   | $ | 1,463 |   |   | Accounts payable and |   |   | $ | 1,078 |   | |||
accrued liabilities |   | ||||||||||||||||
Forward foreign currency exchange contracts |   | Other assets |   |   | 0 |   |   | Other long- |   | 368 |   | ||||||
term liabilities |   | ||||||||||||||||
  |   |   |   | ||||||||||||||
Total | Â Â | Â Â | $ | 1,463 | Â Â | Â Â | Â Â | $ | 1,446 | Â Â | |||||||
  |   |   |   | ||||||||||||||
Derivatives not designated as hedging instruments: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Forward foreign currency exchange contracts |   | Other current assets |   |   | $ | 84 |   |   | Accounts payable and |   |   | $ | 0 |   | |||
accrued liabilities | Â Â | ||||||||||||||||
  |   |   |   | ||||||||||||||
Total | Â Â | Â Â | 84 | Â Â | Â Â | Â Â | 0 | Â Â | |||||||||
  |   |   |   | ||||||||||||||
Total value of derivative contracts | Â Â | Â Â | $ | 1,547 | Â Â | Â Â | Â Â | $ | 1,446 | Â Â | |||||||
  |   |   |   | ||||||||||||||
Effect of Derivative Instruments | The effect of the Company’s derivative instruments on the Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2013 and 2012 was as follows: | ||||||||||||||||
  | Forward Foreign Currency Exchange Contracts | ||||||||||||||||
  | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
  | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Derivatives Designated as Hedging Instruments: | Â Â | ||||||||||||||||
Net gain (loss) recognized in Other Comprehensive Income (OCI)Â (1) | Â Â | $ | (3,177 | )Â | $ | (3,952 | )Â | $ | (1,918 | )Â | $ | (4,612 | )Â | ||||
Net gain reclassified from accumulated OCI into income (2) |   | 102 |   | 2,362 |   | 968 |   | 4,916 |   | ||||||||
Net gain recognized in income (3) | Â Â | 10 | Â Â | 218 | Â Â | 214 | Â Â | 753 | Â Â | ||||||||
Derivatives Not Designated as Hedging Instruments: | Â Â | ||||||||||||||||
Net gain (loss) recognized in income (4) | Â Â | $ | (1,437 | )Â | $ | (1,388 | )Â | $ | (1,129 | )Â | $ | 1,286 | Â Â | ||||
-1 | Net change in the fair value of the effective portion classified as OCI. | ||||||||||||||||
-2 | Effective portion classified as net product revenue. | ||||||||||||||||
-3 | Ineffective portion and amount excluded from effectiveness testing classified as selling, general and administrative expense. | ||||||||||||||||
-4 | Classified as selling, general and administrative expense. |
CONVERTIBLE_DEBT_Tables
CONVERTIBLE DEBT (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Fixed Rate Convertible Debt Outstanding | The Company’s total fixed rate convertible debt outstanding was as follows: | ||||||||
  | September 30, 2013 |   | December 31, 2012 | ||||||
Fixed rate convertible debt on balance sheet | Â Â | $ | 78,310 | Â Â | Â Â | $ | 348,224 | Â Â | |
Fair value of fixed rate convertible debt | Â Â | $ | 280,387 | Â Â | Â Â | $ | 811,798 | Â Â |
FAIR_VALUE_MEASUREMENTS_Tables
FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value of Financial Assets and Liabilities | The tables below present the fair value of these financial assets and liabilities determined using the following input levels. | ||||||||||||||||
  | Fair Value Measurements at September 30, 2013 | ||||||||||||||||
  | Quoted Price in |   | Significant Other |   | Significant |   | Total | ||||||||||
Active Markets | Observable Inputs | Unobservable | |||||||||||||||
for Identical | (Level 2) | Inputs | |||||||||||||||
Assets | (Level 3) | ||||||||||||||||
(Level 1) | |||||||||||||||||
Assets: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Cash and cash equivalents: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Overnight deposits | Â Â | $ | 170,717 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 170,717 | Â Â | |
Money market instruments | Â Â | 0 | Â Â | Â Â | 10,848 | Â Â | Â Â | 0 | Â Â | Â Â | 10,848 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total cash and cash equivalents | Â Â | $ | 170,717 | Â Â | Â Â | $ | 10,848 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 181,565 | Â Â | |
  |   |   |   | ||||||||||||||
Available-for-sale securities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Short-term: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Certificates of deposit | Â Â | $ | 0 | Â Â | Â Â | $ | 31,061 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 31,061 | Â Â | |
Corporate debt securities | Â Â | 0 | Â Â | Â Â | 94,472 | Â Â | Â Â | 0 | Â Â | Â Â | 94,472 | Â Â | |||||
Corporate equity securities | Â Â | 0 | Â Â | Â Â | 20,333 | Â Â | Â Â | 0 | Â Â | Â Â | 20,333 | Â Â | |||||
Commercial paper | Â Â | 0 | Â Â | Â Â | 52,220 | Â Â | Â Â | 0 | Â Â | Â Â | 52,220 | Â Â | |||||
Long-term: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Certificates of deposit | Â Â | 0 | Â Â | Â Â | 14,472 | Â Â | Â Â | 0 | Â Â | Â Â | 14,472 | Â Â | |||||
Corporate debt securities | Â Â | 0 | Â Â | Â Â | 124,270 | Â Â | Â Â | 0 | Â Â | Â Â | 124,270 | Â Â | |||||
U.S. Government agency securities | Â Â | 0 | Â Â | Â Â | 8,901 | Â Â | Â Â | 0 | Â Â | Â Â | 8,901 | Â Â | |||||
Greek government-issued bonds | Â Â | 0 | Â Â | Â Â | 128 | Â Â | Â Â | 0 | Â Â | Â Â | 128 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total available-for-sale securities | Â Â | $ | 0 | Â Â | Â Â | $ | 345,857 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 345,857 | Â Â | |
  |   |   |   | ||||||||||||||
Other Current Assets: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan assets | Â Â | $ | 0 | Â Â | Â Â | $ | 49 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 49 | Â Â | |
Restricted investments (2) | Â Â | 0 | Â Â | Â Â | 2,528 | Â Â | Â Â | 0 | Â Â | Â Â | 2,528 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total other current assets | Â Â | $ | 0 | Â Â | Â Â | $ | 2,577 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 2,577 | Â Â | |
  |   |   |   | ||||||||||||||
Other Assets: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan assets | Â Â | $ | 0 | Â Â | Â Â | $ | 3,350 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 3,350 | Â Â | |
Restricted investments (2) | Â Â | 0 | Â Â | Â Â | 1,489 | Â Â | Â Â | 0 | Â Â | Â Â | 1,489 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total other assets | Â Â | $ | 0 | Â Â | Â Â | $ | 4,839 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 4,839 | Â Â | |
  |   |   |   | ||||||||||||||
Total assets | Â Â | $ | 170,171 | Â Â | Â Â | $ | 364,121 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 534,838 | Â Â | |
  |   |   |   | ||||||||||||||
Liabilities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Current Liabilities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan liability | Â Â | $ | 1,510 | Â Â | Â Â | $ | 49 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 1,559 | Â Â | |
Forward foreign currency exchange contract liability (1) |   | 0 |   |   | 1,820 |   |   | 0 |   |   | 1,820 |   | |||||
Contingent acquisition consideration payable | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 26,536 | Â Â | Â Â | 26,536 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total current liabilities | Â Â | $ | 1,510 | Â Â | Â Â | $ | 1,869 | Â Â | Â Â | $ | 26,536 | Â Â | Â Â | $ | 29,915 | Â Â | |
  |   |   |   | ||||||||||||||
Other long-term liabilities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan liability | Â Â | $ | 12,468 | Â Â | Â Â | $ | 3,350 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 15,818 | Â Â | |
Forward foreign currency exchange contract liability (1) |   | 0 |   |   | 131 |   |   | 0 |   |   | 131 |   | |||||
Contingent acquisition consideration payable | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 26,500 | Â Â | Â Â | 26,500 | Â Â | |||||
Asset retirement obligation | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 4,014 | Â Â | Â Â | 4,014 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total other long-term liabilities | Â Â | $ | 12,468 | Â Â | Â Â | $ | 3,481 | Â Â | Â Â | $ | 30,514 | Â Â | Â Â | $ | 46,463 | Â Â | |
  |   |   |   | ||||||||||||||
Total liabilities | Â Â | $ | 13,978 | Â Â | Â Â | $ | 5,350 | Â Â | Â Â | $ | 57,050 | Â Â | Â Â | $ | 76,378 | Â Â | |
  |   |   |   | ||||||||||||||
  | Fair Value Measurements at December 31, 2012 | ||||||||||||||||
  | Quoted Price in |   | Significant Other |   | Significant |   | Total | ||||||||||
Active Markets | Observable Inputs | Unobservable | |||||||||||||||
for Identical | (Level 2) | Inputs | |||||||||||||||
Assets | (Level 3) | ||||||||||||||||
(Level 1) | |||||||||||||||||
Assets: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Cash and cash equivalents: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Overnight deposits | Â Â | $ | 54,018 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 54,018 | Â Â | |
Money market instruments | Â Â | 0 | Â Â | Â Â | 126,509 | Â Â | Â Â | 0 | Â Â | Â Â | 126,509 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total cash and cash equivalents | Â Â | $ | 54,018 | Â Â | Â Â | $ | 126,509 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 180,527 | Â Â | |
  |   |   |   | ||||||||||||||
Available-for-sale securities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Short-term: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Certificates of deposit | Â Â | $ | 0 | Â Â | Â Â | $ | 36,615 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 36,615 | Â Â | |
Corporate debt securities | Â Â | 0 | Â Â | Â Â | 222,147 | Â Â | Â Â | 0 | Â Â | Â Â | 222,147 | Â Â | |||||
Corporate equity securities | Â Â | 0 | Â Â | Â Â | 2,933 | Â Â | Â Â | 0 | Â Â | Â Â | 2,933 | Â Â | |||||
U.S. Government agency securities | Â Â | 0 | Â Â | Â Â | 8,516 | Â Â | Â Â | 0 | Â Â | Â Â | 8,516 | Â Â | |||||
Long-term: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Certificates of deposit | Â Â | 0 | Â Â | Â Â | 12,139 | Â Â | Â Â | 0 | Â Â | Â Â | 12,139 | Â Â | |||||
Corporate debt securities | Â Â | 0 | Â Â | Â Â | 94,753 | Â Â | Â Â | 0 | Â Â | Â Â | 94,753 | Â Â | |||||
U.S. Government agency securities | Â Â | 0 | Â Â | Â Â | 9,001 | Â Â | Â Â | 0 | Â Â | Â Â | 9,001 | Â Â | |||||
Greek government-issued bonds | Â Â | 0 | Â Â | Â Â | 100 | Â Â | Â Â | 0 | Â Â | Â Â | 100 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total available-for-sale securities | Â Â | $ | 0 | Â Â | Â Â | $ | 386,204 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 386,204 | Â Â | |
  |   |   |   | ||||||||||||||
Other Current Assets: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan assets | Â Â | $ | 0 | Â Â | Â Â | $ | 2,052 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 2,052 | Â Â | |
Forward foreign currency exchange contract asset (1) |   | 0 |   |   | 1,547 |   |   | 0 |   |   | 1,547 |   | |||||
Restricted investments (2) | Â Â | 0 | Â Â | Â Â | 2,243 | Â Â | Â Â | 0 | Â Â | Â Â | 2,243 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total other current assets | Â Â | $ | 0 | Â Â | Â Â | $ | 5,842 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 5,842 | Â Â | |
  |   |   |   | ||||||||||||||
Other Assets: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan assets | Â Â | $ | 0 | Â Â | Â Â | $ | 2,375 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 2,375 | Â Â | |
Restricted investments (2) | Â Â | 0 | Â Â | Â Â | 3,492 | Â Â | Â Â | 0 | Â Â | Â Â | 3,492 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total other assets | Â Â | $ | 0 | Â Â | Â Â | $ | 5,867 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 5,867 | Â Â | |
  |   |   |   | ||||||||||||||
Total assets | Â Â | $ | 54,018 | Â Â | Â Â | $ | 524,422 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 578,440 | Â Â | |
  |   |   |   | ||||||||||||||
Liabilities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Current Liabilities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan liability | Â Â | $ | 6,440 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 6,440 | Â Â | |
Forward foreign currency exchange contract liability (1) |   | 0 |   |   | 1,078 |   |   | 0 |   |   | 1,078 |   | |||||
Contingent acquisition consideration payable | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 10,764 | Â Â | Â Â | 10,764 | Â Â | |||||
Asset retirement obligation | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 1,685 | Â Â | Â Â | 1,685 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total current liabilities | Â Â | $ | 6,440 | Â Â | Â Â | $ | 1,078 | Â Â | Â Â | $ | 12,449 | Â Â | Â Â | $ | 19,967 | Â Â | |
  |   |   |   | ||||||||||||||
Other long-term liabilities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan liability | Â Â | $ | 5,041 | Â Â | Â Â | $ | 4,427 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 9,468 | Â Â | |
Forward foreign currency exchange contract liability (1) |   | 0 |   |   | 368 |   |   | 0 |   |   | 368 |   | |||||
Contingent acquisition consideration payable | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 30,618 | Â Â | Â Â | 30,618 | Â Â | |||||
Asset retirement obligation | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 2,192 | Â Â | Â Â | 2,192 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total other long-term liabilities | Â Â | $ | 5,041 | Â Â | Â Â | $ | 4,795 | Â Â | Â Â | $ | 32,810 | Â Â | Â Â | $ | 42,646 | Â Â | |
  |   |   |   | ||||||||||||||
Total liabilities | Â Â | $ | 11,481 | Â Â | Â Â | $ | 5,873 | Â Â | Â Â | $ | 45,259 | Â Â | Â Â | $ | 62,613 | Â Â | |
  |   |   |   | ||||||||||||||
-1 | See Note 12 to these Condensed Consolidated Financial Statements for further information regarding the derivative instruments. | ||||||||||||||||
-2 | The restricted investments secure the Company’s irrevocable standby letter of credit obtained in connection with the Company’s new corporate facility lease agreements and certain commercial agreements. | ||||||||||||||||
Liabilities Measured at Fair Value Using Level 3 Inputs | |||||||||||||||||
Contingent acquisition consideration payable at December 31, 2012 |   | $ | 41,382 |   | |||||||||||||
Changes in the fair value of the contingent acquisition consideration payable | Â Â | 9,816 | Â Â | ||||||||||||||
Addition of contingent consideration payable related to the Zacharon acquisition | Â Â | 1,857 | Â Â | ||||||||||||||
Milestone payment to former LEAD shareholders | Â Â | (19 | )Â | ||||||||||||||
  | |||||||||||||||||
Contingent acquisition consideration payable at September 30, 2013 |   | $ | 53,036 |   | |||||||||||||
  |
STOCKBASED_COMPENSATION_Tables
STOCK-BASED COMPENSATION (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Stock Option Valuation Assumptions | The assumptions used to estimate the per share fair value of stock options granted under the 2012 Inducement Plan and the 2006 Share Incentive Plan were as follows: | ||||||||||||||||
  | Three Months Ended September 30, |   | Nine Months Ended September 30, | ||||||||||||||
  | 2013 |   | 2012 |   | 2013 |   | 2012 | ||||||||||
Expected volatility |   | 44% |   | 46% |   | 44 – 45% |   | 45 – 46% | |||||||||
Dividend yield | Â Â | 0.00% | Â Â | 0.00% | Â Â | 0.00% | Â Â | 0.00% | |||||||||
Expected life | Â Â | 6.8Â years | Â Â | 6.5Â years | Â Â | 6.6-6.8Â years | Â Â | 6.5Â years | |||||||||
Risk-free interest rate |   | 2.20% |   | 0.90% |   | 1.0 – 2.4% |   | 0.8 – 1.1% | |||||||||
Stock-Based Compensation Expense | Compensation expense included in the Condensed Consolidated Statements of Comprehensive Loss for all stock-based compensation arrangements was as follows: | ||||||||||||||||
  | Three Months Ended September 30, |   | Nine Months Ended September 30, | ||||||||||||||
  | 2013 |   | 2012 |   | 2013 |   | 2012 | ||||||||||
Cost of sales | Â Â | $ | 1,489 | Â Â | Â Â | $ | 1,327 | Â Â | Â Â | $ | 3,663 | Â Â | Â Â | $ | 3,535 | Â Â | |
Research and development | Â Â | 7,116 | Â Â | Â Â | 5,060 | Â Â | Â Â | 18,821 | Â Â | Â Â | 15,351 | Â Â | |||||
Selling, general and administrative | Â Â | 7,600 | Â Â | Â Â | 5,752 | Â Â | Â Â | 19,214 | Â Â | Â Â | 17,021 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total stock-based compensation expense | Â Â | $ | 16,205 | Â Â | Â Â | $ | 12,139 | Â Â | Â Â | $ | 41,698 | Â Â | Â Â | $ | 35,907 | Â Â | |
  |   |   |   |
NET_LOSS_PER_COMMON_SHARE_Tabl
NET LOSS PER COMMON SHARE (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Schedule Of Anti-Dilutive Common Stock Excluded From Computation of Diluted Net Loss Per Share | The table below presents potential shares of common stock that were excluded from the computation as they were anti-dilutive using the treasury stock method (in thousands): | ||||||||||||||||
  | Three Months Ended September 30, |   | Nine Months Ended September 30, | ||||||||||||||
  |     2013    |   |     2012    |   |     2013    |   |     2012    | ||||||||||
Options to purchase common stock | Â Â | 13,421 | Â Â | Â Â | 15,998 | Â Â | Â Â | 13,421 | Â Â | Â Â | 15,998 | Â Â | |||||
Common stock issuable under convertible debt | Â Â | 3,846 | Â Â | Â Â | 17,370 | Â Â | Â Â | 3,846 | Â Â | Â Â | 17,370 | Â Â | |||||
Unvested restricted stock units | Â Â | 1,235 | Â Â | Â Â | 1,297 | Â Â | Â Â | 1,180 | Â Â | Â Â | 1,256 | Â Â | |||||
Potentially issuable common stock for ESPP purchases | Â Â | 290 | Â Â | Â Â | 263 | Â Â | Â Â | 282 | Â Â | Â Â | 254 | Â Â | |||||
Common stock held by the Nonqualified Deferred Compensation Plan | Â Â | 194 | Â Â | Â Â | 233 | Â Â | Â Â | 194 | Â Â | Â Â | 233 | Â Â | |||||
  |   |   |   | ||||||||||||||
Total number of potentially issuable shares | Â Â | 18,986 | Â Â | Â Â | 35,161 | Â Â | Â Â | 18,923 | Â Â | Â Â | 35,111 | Â Â | |||||
  |   |   |   |
COMPREHENSIVE_INCOME_Tables
COMPREHENSIVE INCOME (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Amounts Reclassified out of Accumulated Other Comprehensive Income or Loss | The following table summarizes amounts reclassified out of Accumulated Other Comprehensive Income/(Loss) (AOCI) and their effect on the Company’s Condensed Consolidated Statements of Comprehensive Loss for the three and nine months ended September 30, 2013. | ||||||||||||||||
  | Amount Reclassified from AOCI | ||||||||||||||||
(Gain)/Loss | |||||||||||||||||
Details about AOCI Components |   | Three Months | Nine Months | Condensed Consolidated Statement of | |||||||||||||
Ended | Ended | Comprehensive Loss Classification | |||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||
Gains on cash flow hedges: | Â Â | ||||||||||||||||
Forward foreign currency exchange contracts |   | $ | (101 | ) | $ | (928 | ) | Net product revenues | |||||||||
Forward foreign currency exchange contracts |   | 0 |   | (40 | ) | Selling, general and administrative | |||||||||||
  | 36 |   | 349 |   | Provision for income taxes | ||||||||||||
  | |||||||||||||||||
  | $ | (65 | ) | $ | (619 | ) | Net loss | ||||||||||
  | |||||||||||||||||
Summary of Changes in Accumulated Balances of Other Comprehensive Income Loss Including Current Period Other Comprehensive Income and Reclassifications | The following table summarizes changes in the accumulated balances for each component, of other comprehensive income/(loss), including current period other comprehensive income and reclassifications act of AOCI, for the nine months ended September 30, 2013. | ||||||||||||||||
  | Gains/(Losses) | Unrealized |   | Foreign | Total | ||||||||||||
on Cash Flow | Gain/(Losses) on | Currency | |||||||||||||||
Hedges | Available-for-sale | Translation | |||||||||||||||
Securities | Adjustments | ||||||||||||||||
AOCI balance, net of tax at December 31, 2012 |   | $ | (97 | ) | $ | 133 |   |   | $ | (238 | ) | $ | (202 | ) | |||
Other comprehensive income before reclassifications | Â Â | (606 | )Â | 11,007 | Â Â | Â Â | 1,893 | Â Â | 12,294 | Â Â | |||||||
Amounts reclassified from AOCI | Â Â | (619 | )Â | 0 | Â Â | Â Â | 0 | Â Â | (619 | )Â | |||||||
  |   | ||||||||||||||||
Net increase in other comprehensive income (loss) |   | (1,225 | ) | 11,007 |   |   | 1,893 |   | 11,675 |   | |||||||
  |   | ||||||||||||||||
AOCI balance, net of tax at September 30, 2013 |   | $ | (1,322 | ) | $ | 11,140 |   |   | $ | 1,655 |   | $ | 11,473 |   | |||
  |   |
REVENUE_AND_CREDIT_CONCENTRATI1
REVENUE AND CREDIT CONCENTRATIONS (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Schedule Of Accounts Receivable by Country that were Past Due | The following table summarizes the accounts receivable by country that were past due related to Italy, Spain, Portugal and Greece, the number of days past due and the total allowance for doubtful accounts related to each of these countries at September 30, 2013. | ||||||||||||||||||||
  | Days Past Due |   | |||||||||||||||||||
  | < 180 Days |   | 180 —360 |   | > 360 Days |   | Total Amount |   | Allowance for | ||||||||||||
Days | Past Due | Doubtful Accounts | |||||||||||||||||||
Italy | Â Â | $ | 0 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 0 | Â Â | |
Spain | Â Â | 1,920 | Â Â | Â Â | 1,467 | Â Â | Â Â | 1,216 | Â Â | Â Â | 4,603 | Â Â | Â Â | 0 | Â Â | ||||||
Portugal | Â Â | 267 | Â Â | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 267 | Â Â | Â Â | 0 | Â Â | ||||||
Greece | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 359 | Â Â | Â Â | 359 | Â Â | Â Â | 359 | Â Â | ||||||
  |   |   |   |   | |||||||||||||||||
Total | Â Â | $ | 2,187 | Â Â | Â Â | $ | 1,467 | Â Â | Â Â | $ | 1,575 | Â Â | Â Â | $ | 5,229 | Â Â | Â Â | $ | 359 | Â Â | |
  |   |   |   |   | |||||||||||||||||
Geographic Concentration Risk | Net Product Revenues | |||||||||||||||||||||
Schedules of Net Product Revenue Concentration | The table below summarizes net product revenue concentrations based on patient location for Naglazyme, Kuvan and Firdapse and Genzyme’s headquarters for Aldurazyme. Although Genzyme sells Aldurazyme worldwide, the royalties earned by the Company on Genzyme’s net sales are included in the U.S. region, as the transactions are with Genzyme whose headquarters are located in the U.S. | ||||||||||||||||||||
  | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||
  |     2013    |     2012    |     2013    |     2012    | |||||||||||||||||
Region: | Â Â | ||||||||||||||||||||
United States | Â Â | 54 | %Â | 53 | %Â | 51 | %Â | 50 | %Â | ||||||||||||
Europe | Â Â | 21 | %Â | 21 | %Â | 21 | %Â | 22 | %Â | ||||||||||||
Latin America | Â Â | 8 | %Â | 14 | %Â | 12 | %Â | 15 | %Â | ||||||||||||
Rest of world | Â Â | 17 | %Â | 12 | %Â | 16 | %Â | 13 | %Â | ||||||||||||
  | |||||||||||||||||||||
Total net product revenue | Â Â | 100 | %Â | 100 | %Â | 100 | %Â | 100 | %Â | ||||||||||||
  | |||||||||||||||||||||
Customer Concentration Risk | Net Product Revenues | |||||||||||||||||||||
Schedules of Net Product Revenue Concentration | The following table illustrates the percentage of the consolidated net product revenue attributed to the Company’s four largest customers. | ||||||||||||||||||||
  | Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||
  |     2013    |     2012    |     2013    |     2012    | |||||||||||||||||
Customer A | Â Â | 15% | 14% | 15% | 15% | ||||||||||||||||
Customer B (1) | Â Â | 17% | 18% | 15% | 15% | ||||||||||||||||
Customer C | Â Â | 4% | 11% | 8% | 12% | ||||||||||||||||
Customer D | Â Â | 11% | 9% | 11% | 9% | ||||||||||||||||
  | |||||||||||||||||||||
Total | Â Â | 47% | 52% | 49% | 51% | ||||||||||||||||
  | |||||||||||||||||||||
-1 | Genzyme is the Company’s sole customer for Aldurazyme and is responsible for marketing and selling Aldurazyme to third-parties. Net product revenues from Genzyme are comprised of royalties on worldwide net Aldurazyme sales and incremental product transfer revenue. |
Recovered_Sheet1
Nature of Operations and Business Risks - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | |||
Nature Of Operations [Line Items] | |||
Accumulated losses | ($653,811) | ($539,448) | [1] |
[1] | December 31, 2012 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, 2012, filed with the Securities and Exchange Commission (the SEC) on February 26, 2013. |
Recovered_Sheet2
Acquisition of Zacharon Pharmaceuticals Incorporated - Additional Information (Detail) (Zacharon Pharmaceuticals Inc, USD $) | 0 Months Ended | 9 Months Ended |
Jan. 04, 2013 | Sep. 30, 2013 | |
Zacharon Pharmaceuticals Inc | ||
Business Acquisition [Line Items] | ||
Total purchase price | $11,500,000 | |
Acquisition cash paid, net of transaction costs | 9,700,000 | |
Acquisition-related transaction costs | 800,000 | |
Maximum potential additional consideration milestone payments | 134,000,000 | |
Fair value of intangible assets | 1,900,000 | |
Discount rate | 4.70% | |
Adjustment to goodwill and deferred tax assets | 700,000 | |
Intangible assets | 11,680,000 | |
Deferred tax assets acquisition | 2,625,000 | |
Deferred tax liability | 4,217,000 | |
Goodwill resulting from acquisition | $2,700,000 |
Allocation_of_Purchase_Conside
Allocation of Purchase Consideration Including Contingent Acquisition Consideration Payable (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Jan. 04, 2013 | |
In Thousands, unless otherwise specified | Zacharon Pharmaceuticals Inc | |||
Schedule of Business Acquisitions, Purchase Price Allocation [Line Items] | ||||
Cash and cash equivalents | $560 | |||
Other current assets | 216 | |||
Property, plant and equipment | 398 | |||
Acquired deferred tax assets | 2,625 | |||
Other assets | 38 | |||
Intangible assets-In Process Research & Development (IPR&D) | 11,680 | |||
Total identifiable assets acquired | 15,517 | |||
Accounts payable and accrued expenses | -1,182 | |||
Debt assumed | -1,313 | |||
Deferred tax liability | -4,217 | |||
Total liabilities assumed | -6,712 | |||
Net identifiable assets acquired | 8,805 | |||
Goodwill | 54,258 | 51,543 | [1] | 2,715 |
Net assets acquired | $11,520 | |||
[1] | December 31, 2012 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, 2012, filed with the Securities and Exchange Commission (the SEC) on February 26, 2013. |
Amortized_Cost_Gross_Unrealize
Amortized Cost Gross Unrealized Holding Gain or Loss and Fair Value of Available for Sale Security by Major Security Type (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | $328,430 | $386,010 |
Gross Unrealized Holding Gains | 17,683 | 473 |
Gross Unrealized Holding Losses | -256 | -279 |
Fair Value | 345,857 | 386,204 |
Certificates of Deposit | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 45,530 | 48,741 |
Gross Unrealized Holding Gains | 3 | 14 |
Gross Unrealized Holding Losses | 0 | -1 |
Fair Value | 45,533 | 48,754 |
Corporate Debt Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 218,767 | 316,709 |
Gross Unrealized Holding Gains | 231 | 402 |
Gross Unrealized Holding Losses | -256 | -211 |
Fair Value | 218,742 | 316,900 |
Corporate Equity Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 3,000 | 3,000 |
Gross Unrealized Holding Gains | 17,333 | 0 |
Gross Unrealized Holding Losses | 0 | -67 |
Fair Value | 20,333 | 2,933 |
Commercial Paper | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 52,182 | |
Gross Unrealized Holding Gains | 38 | |
Gross Unrealized Holding Losses | 0 | |
Fair Value | 52,220 | |
U.S. Government Agency Securities | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 8,900 | 17,512 |
Gross Unrealized Holding Gains | 1 | 5 |
Gross Unrealized Holding Losses | 0 | 0 |
Fair Value | 8,901 | 17,517 |
Greek Government-Issued Bonds | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Amortized Cost | 51 | 48 |
Gross Unrealized Holding Gains | 77 | 52 |
Gross Unrealized Holding Losses | 0 | 0 |
Fair Value | $128 | $100 |
Fair_Values_of_AvailableForSal
Fair Values of Available-For-Sale Securities by Contractual Maturity (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Maturing in one year or less | $198,086 | $270,211 |
Maturing after one year through two years | 147,771 | 115,993 |
Total | $345,857 | $386,204 |
Changes_in_Goodwill_Detail
Changes in Goodwill (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | |
Goodwill [Line Items] | ||
Balance at December 31, 2012 | $51,543 | [1] |
Addition of goodwill related to the acquisition of Zacharon | 2,715 | |
Balance at September 30, 2013 | $54,258 | |
[1] | December 31, 2012 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, 2012, filed with the Securities and Exchange Commission (the SEC) on February 26, 2013. |
Intangible_Assets_Detail
Intangible Assets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | |||
Intangible assets: | |||
Finite-lived intangible assets | $118,242 | $118,242 | |
Indefinite-lived intangible assets | 74,430 | 63,689 | |
Gross intangible assets | 192,672 | 181,931 | |
Less: Accumulated amortization | -26,881 | -18,951 | |
Net carrying value | $165,791 | $162,980 | [1] |
[1] | December 31, 2012 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, 2012, filed with the Securities and Exchange Commission (the SEC) on February 26, 2013. |
Property_Plant_and_Equipment_D
Property Plant and Equipment (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | |||
Property, Plant and Equipment [Line Items] | |||
Leasehold improvements | $67,083 | $65,918 | |
Building and improvements | 154,479 | 144,700 | |
Manufacturing and laboratory equipment | 88,865 | 79,915 | |
Computer hardware and software | 63,164 | 56,011 | |
Furniture and equipment | 12,152 | 11,143 | |
Land | 11,608 | 11,608 | |
Construction-in-progress | 64,756 | 64,300 | |
Property, Plant and Equipment, Gross, Total | 462,107 | 433,595 | |
Less: Accumulated depreciation | -176,443 | -149,122 | |
Total property, plant and equipment, net | $285,664 | $284,473 | [1] |
[1] | December 31, 2012 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, 2012, filed with the Securities and Exchange Commission (the SEC) on February 26, 2013. |
Property_Plant_and_Equipment_A
Property Plant and Equipment - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Property, Plant and Equipment [Line Items] | ||||
Depreciation expense | $9,200,000 | $8,900,000 | $27,300,000 | $25,700,000 |
Depreciation expense capitalized into inventory | $2,800,000 | $2,500,000 | $8,221,000 | $4,744,000 |
Schedule_of_Inventory_Detail
Schedule of Inventory (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | |||
Condensed Financial Statements, Captions [Line Items] | |||
Raw materials | $15,350 | $11,943 | |
Work-in-process | 80,996 | 71,443 | |
Finished goods | 52,338 | 45,309 | |
Total inventory | $148,684 | $128,695 | [1] |
[1] | December 31, 2012 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, 2012, filed with the Securities and Exchange Commission (the SEC) on February 26, 2013. |
Inventory_Additional_Informati
Inventory - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | |||
Inventory [Line Items] | |||
Inventory | $148,684 | $128,695 | [1] |
Pending Regulatory Approvals | |||
Inventory [Line Items] | |||
Inventory | 2,200 | 12,000 | |
Pending Regulatory Approvals | Approval of Vimizim In US or EU | |||
Inventory [Line Items] | |||
Inventory | $32,700 | $0 | |
[1] | December 31, 2012 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, 2012, filed with the Securities and Exchange Commission (the SEC) on February 26, 2013. |
Schedule_of_Accounts_Payable_a
Schedule of Accounts Payable and Accrued Liabilities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | |||
Condensed Financial Statements, Captions [Line Items] | |||
Accounts payable | $15,632 | $23,993 | |
Accrued accounts payable | 58,666 | 43,156 | |
Accrued vacation expense | 9,717 | 8,403 | |
Accrued compensation expense | 28,574 | 27,530 | |
Accrued royalties payable | 5,279 | 4,991 | |
Accrued rebates payable | 10,147 | 9,625 | |
Other accrued operating expenses | 1,891 | 6,179 | |
Current portion of nonqualified deferred compensation liability | 1,559 | 6,440 | |
Value added taxes payable | 4,240 | 2,072 | |
Current portion of contingent acquisition consideration payable | 26,536 | 10,764 | |
Other | 5,392 | 3,915 | |
Total accounts payable and accrued liabilities | $167,633 | $147,068 | [1] |
[1] | December 31, 2012 balances were derived from the audited Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2012, filed with the Securities and Exchange Commission (the SEC) on February 26, 2013. |
Recovered_Sheet3
Derivative Instruments and Hedging Strategies - Additional Information (Detail) | 9 Months Ended | 12 Months Ended | 9 Months Ended | 9 Months Ended | ||||
Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
USD ($) | USD ($) | Maximum | Minimum | Derivatives Designated As Hedging Instruments | Derivatives Designated As Hedging Instruments | Derivatives Not Designated As Hedging Instruments | Derivatives Not Designated As Hedging Instruments | |
Foreign Currency Derivatives | Euro | Foreign Currency Derivatives | ||||||
Sale Contracts | Sale Contracts | |||||||
EUR (€) | EUR (€) | |||||||
Derivative [Line Items] | ||||||||
Number of forward foreign currency exchange contracts outstanding | 58 | 1 | ||||||
Outstanding forward foreign currency exchange contracts | € 57,100,000 | € 28,100,000 | ||||||
Maturity period of foreign currency derivatives | 31-Dec-14 | 31-Oct-13 | 31-Oct-13 | |||||
Amount reclassified from accumulated other comprehensive income to earnings as related to forecasted revenue transactions | 2,000,000 | |||||||
Maximum length of time over which hedging its exposure to the reduction in value of forecasted foreign currency cash flows through foreign currency forward contracts | 12 months | |||||||
Gain (Loss) from foreign currency exchange contracts in accumulated other comprehensive income | ($2,100,000) | ($200,000) |
Recovered_Sheet4
Derivative Instruments and Hedging Strategies (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives Designated As Hedging Instruments | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | $0 | $1,463 |
Derivative Liability, Fair Value | 1,805 | 1,446 |
Derivatives Designated As Hedging Instruments | Forward Foreign Currency Exchange Contracts | Accounts Payable and Accrued Liabilities | ||
Derivative [Line Items] | ||
Derivative Liability, Fair Value | 1,674 | 1,078 |
Derivatives Designated As Hedging Instruments | Forward Foreign Currency Exchange Contracts | Other Long-Term Liabilities | ||
Derivative [Line Items] | ||
Derivative Liability, Fair Value | 131 | 368 |
Derivatives Designated As Hedging Instruments | Forward Foreign Currency Exchange Contracts | Other Current Assets | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 0 | 1,463 |
Derivatives Designated As Hedging Instruments | Forward Foreign Currency Exchange Contracts | Other Assets | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 0 | 0 |
Derivatives Not Designated As Hedging Instruments | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 0 | 1,547 |
Derivative Liability, Fair Value | 1,951 | 1,446 |
Derivatives Not Designated As Hedging Instruments | Forward Foreign Currency Exchange Contracts | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | 0 | 84 |
Derivative Liability, Fair Value | 146 | 0 |
Derivatives Not Designated As Hedging Instruments | Forward Foreign Currency Exchange Contracts | Accounts Payable and Accrued Liabilities | ||
Derivative [Line Items] | ||
Derivative Liability, Fair Value | 146 | 0 |
Derivatives Not Designated As Hedging Instruments | Forward Foreign Currency Exchange Contracts | Other Current Assets | ||
Derivative [Line Items] | ||
Derivative Asset, Fair Value | $0 | $84 |
Effect_of_Derivative_Instrumen
Effect of Derivative Instruments (Detail) (USD $) | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||||||
Forward Foreign Currency Exchange Contracts | Forward Foreign Currency Exchange Contracts | Forward Foreign Currency Exchange Contracts | Forward Foreign Currency Exchange Contracts | Forward Foreign Currency Exchange Contracts | Forward Foreign Currency Exchange Contracts | Forward Foreign Currency Exchange Contracts | Forward Foreign Currency Exchange Contracts | |||||||||||
Derivatives Designated As Hedging Instruments | Derivatives Designated As Hedging Instruments | Derivatives Designated As Hedging Instruments | Derivatives Designated As Hedging Instruments | Derivatives Not Designated As Hedging Instruments | Derivatives Not Designated As Hedging Instruments | Derivatives Not Designated As Hedging Instruments | Derivatives Not Designated As Hedging Instruments | |||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||||||||||||||||
Net gain (loss) recognized in Other Comprehensive Income (OCI) | ($2,100) | ($200) | ($3,177) | [1] | ($3,952) | [1] | ($1,918) | [1] | ($4,612) | [1] | ||||||||
Net gain reclassified from accumulated OCI into income | 102 | [2] | 2,362 | [2] | 968 | [2] | 4,916 | [2] | ||||||||||
Net gain (loss) recognized in income | $10 | [3] | $218 | [3] | $214 | [3] | $753 | [3] | ($1,437) | [4] | ($1,388) | [4] | ($1,129) | [4] | $1,286 | [4] | ||
[1] | Net change in the fair value of the effective portion classified as OCI. | |||||||||||||||||
[2] | Effective portion classified as net product revenue. | |||||||||||||||||
[3] | Ineffective portion and amount excluded from effectiveness testing classified as selling, general and administrative expense | |||||||||||||||||
[4] | Classified as selling, general and administrative expense. |
Convertible_Debt_Additional_In
Convertible Debt - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | ||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Apr. 30, 2007 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Aug. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2006 | Mar. 31, 2013 | |
Due 2017 | Due 2017 | Due 2017 | Due 2017 | Due 2017 | Due 2017 | Due 2017 | Due 2017 | Due 2017 | Due 2017 | Due 2017 | Due 2017 | Due 2017 | Due 2013 | Due 2013 | ||||||
Agreement One | Agreement One | Agreement One | Agreement Two | Agreement Two | Convertible Debt | Convertible Debt | Convertible Debt | |||||||||||||
Agreement One | Agreement One | Agreement Two | ||||||||||||||||||
Debt Conversion [Line Items] | ||||||||||||||||||||
Debt instrument, face amount | $324,900,000 | $172,500,000 | ||||||||||||||||||
Convertible debt | 78,310,000 | 78,310,000 | 348,224,000 | 78,300,000 | 78,300,000 | |||||||||||||||
Debt instrument, interest rate, stated percentage, per annum | 1.88% | 2.50% | ||||||||||||||||||
Debt instrument, convertible, conversion price, per share | $20.36 | $16.58 | ||||||||||||||||||
Maturity date of convertible debt | 23-Apr-17 | 29-Mar-13 | ||||||||||||||||||
Payments of debt issuance costs | 8,500,000 | |||||||||||||||||||
Amortization expense | 100,000 | 200,000 | 300,000 | 600,000 | ||||||||||||||||
Convertible notes aggregate principal | 31,500,000 | 215,000,000 | 23,300,000 | |||||||||||||||||
Notes converted, number of shares | 1,547,629 | 10,560,164 | ||||||||||||||||||
Convertible cash premium paid to holder for agreeing to convert | 1,732,000 | 0 | 12,152,000 | 0 | 1,900,000 | 1,900,000 | 12,000,000 | 1,700,000 | 1,700,000 | 10,400,000 | ||||||||||
Interest expense on convertible debt | 200,000 | 1,600,000 | ||||||||||||||||||
Reclassified of deferred offering costs to additional paid-in capital | 300,000 | 2,300,000 | ||||||||||||||||||
Common stock issued upon conversion of convertible notes | 1,403,735 | |||||||||||||||||||
Payment on debt conversion | 12,152,000 | 0 | 98 | |||||||||||||||||
Interest expense | $526,000 | $1,837,000 | $2,854,000 | $5,709,000 | $500,000 | $1,700,000 | $2,500,000 | $5,000,000 |
Fixed_Rate_Convertible_Debt_Ou
Fixed Rate Convertible Debt Outstanding (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ||
Fixed rate convertible debt on balance sheet | $78,310 | $348,224 |
Fair value of fixed rate convertible debt | $280,387 | $811,798 |
Fair_Value_of_Financial_Assets
Fair Value of Financial Assets and Liabilities (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Cash and cash equivalents | $181,565 | $180,527 | ||
Fair value of Available-for-sale securities | 345,857 | 386,204 | ||
Total other current assets | 2,577 | 5,842 | ||
Total other assets | 4,839 | 5,867 | ||
Fair value of financial assets, Total | 534,838 | 578,440 | ||
Nonqualified Deferred Compensation Plan liability | 1,559 | 6,440 | ||
Asset retirement obligation | 1,685 | |||
Total current liabilities | 29,915 | 19,967 | ||
Contingent acquisition consideration payable | 26,536 | 10,764 | ||
Total other long-term liabilities | 46,463 | 42,646 | ||
Fair value of financial liabilities, Total | 76,378 | 62,613 | ||
Corporate Equity Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 20,333 | 2,933 | ||
U.S. Government Agency Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 8,901 | 17,517 | ||
Commercial Paper | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 52,220 | |||
Overnight Deposits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Cash and cash equivalents | 170,717 | 54,018 | ||
Money Market Instruments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Cash and cash equivalents | 10,848 | 126,509 | ||
Available-For-Sale Securities Short-Term | Corporate Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 94,472 | 222,147 | ||
Available-For-Sale Securities Short-Term | Corporate Equity Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 20,333 | 2,933 | ||
Available-For-Sale Securities Short-Term | U.S. Government Agency Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 8,516 | |||
Available-For-Sale Securities Short-Term | Commercial Paper | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 52,220 | |||
Available-For-Sale Securities Short-Term | Certificates of Deposit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 31,061 | 36,615 | ||
Available-For-Sale Securities Long-Term | Corporate Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 124,270 | 94,753 | ||
Available-For-Sale Securities Long-Term | U.S. Government Agency Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 8,901 | 9,001 | ||
Available-For-Sale Securities Long-Term | Greek Government-Issued Bonds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 128 | 100 | ||
Available-For-Sale Securities Long-Term | Certificates of Deposit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 14,472 | 12,139 | ||
Other Current Assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Restricted investments | 2,528 | [1] | 2,243 | [1] |
Other Current Assets | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Nonqualified Deferred Compensation Plan assets | 49 | 2,052 | ||
Other Current Assets | Foreign Exchange Forward | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Forward foreign currency exchange contract asset | 1,547 | [2] | ||
Other Assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Restricted investments | 1,489 | [1] | 3,492 | [1] |
Other Assets | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Nonqualified Deferred Compensation Plan assets | 3,350 | 2,375 | ||
Current Liabilities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Contingent acquisition consideration payable | 26,536 | 10,764 | ||
Current Liabilities | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Nonqualified Deferred Compensation Plan liability | 1,559 | 6,440 | ||
Current Liabilities | Foreign Exchange Forward | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Forward foreign currency exchange contract liability | 1,820 | [2] | 1,078 | [2] |
Other Long-Term Liabilities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Contingent acquisition consideration payable | 26,500 | 30,618 | ||
Asset retirement obligation | 4,014 | 2,192 | ||
Other Long-Term Liabilities | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Nonqualified Deferred Compensation Plan liability | 15,818 | 9,468 | ||
Other Long-Term Liabilities | Foreign Exchange Forward | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Forward foreign currency exchange contract liability | 131 | [2] | 368 | [2] |
Quoted Price In Active Markets For Identical Assets (Level 1) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Cash and cash equivalents | 170,717 | 54,018 | ||
Fair value of Available-for-sale securities | 0 | 0 | ||
Total other current assets | 0 | 0 | ||
Total other assets | 0 | 0 | ||
Fair value of financial assets, Total | 170,171 | 54,018 | ||
Asset retirement obligation | 0 | |||
Total current liabilities | 1,510 | 6,440 | ||
Total other long-term liabilities | 12,468 | 5,041 | ||
Fair value of financial liabilities, Total | 13,978 | 11,481 | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Overnight Deposits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Cash and cash equivalents | 170,717 | 54,018 | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Money Market Instruments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Cash and cash equivalents | 0 | 0 | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Available-For-Sale Securities Short-Term | Corporate Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | 0 | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Available-For-Sale Securities Short-Term | Corporate Equity Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | 0 | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Available-For-Sale Securities Short-Term | U.S. Government Agency Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | |||
Quoted Price In Active Markets For Identical Assets (Level 1) | Available-For-Sale Securities Short-Term | Commercial Paper | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | |||
Quoted Price In Active Markets For Identical Assets (Level 1) | Available-For-Sale Securities Short-Term | Certificates of Deposit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | 0 | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Available-For-Sale Securities Long-Term | Corporate Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | 0 | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Available-For-Sale Securities Long-Term | U.S. Government Agency Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | 0 | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Available-For-Sale Securities Long-Term | Greek Government-Issued Bonds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | 0 | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Available-For-Sale Securities Long-Term | Certificates of Deposit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | 0 | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Other Current Assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Restricted investments | 0 | [1] | 0 | [1] |
Quoted Price In Active Markets For Identical Assets (Level 1) | Other Current Assets | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Nonqualified Deferred Compensation Plan assets | 0 | 0 | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Other Current Assets | Foreign Exchange Forward | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Forward foreign currency exchange contract asset | 0 | [2] | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Other Assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Restricted investments | 0 | [1] | 0 | [1] |
Quoted Price In Active Markets For Identical Assets (Level 1) | Other Assets | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Nonqualified Deferred Compensation Plan assets | 0 | 0 | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Current Liabilities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Contingent acquisition consideration payable | 0 | 0 | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Current Liabilities | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Nonqualified Deferred Compensation Plan liability | 1,510 | 6,440 | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Current Liabilities | Foreign Exchange Forward | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Forward foreign currency exchange contract liability | 0 | [2] | 0 | [2] |
Quoted Price In Active Markets For Identical Assets (Level 1) | Other Long-Term Liabilities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Contingent acquisition consideration payable | 0 | 0 | ||
Asset retirement obligation | 0 | 0 | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Other Long-Term Liabilities | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Nonqualified Deferred Compensation Plan liability | 12,468 | 5,041 | ||
Quoted Price In Active Markets For Identical Assets (Level 1) | Other Long-Term Liabilities | Foreign Exchange Forward | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Forward foreign currency exchange contract liability | 0 | [2] | 0 | [2] |
Significant Other Observable Inputs (Level 2) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Cash and cash equivalents | 10,848 | 126,509 | ||
Fair value of Available-for-sale securities | 345,857 | 386,204 | ||
Total other current assets | 2,577 | 5,842 | ||
Total other assets | 4,839 | 5,867 | ||
Fair value of financial assets, Total | 364,121 | 524,422 | ||
Asset retirement obligation | 0 | |||
Total current liabilities | 1,869 | 1,078 | ||
Total other long-term liabilities | 3,481 | 4,795 | ||
Fair value of financial liabilities, Total | 5,350 | 5,873 | ||
Significant Other Observable Inputs (Level 2) | Overnight Deposits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Cash and cash equivalents | 0 | 0 | ||
Significant Other Observable Inputs (Level 2) | Money Market Instruments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Cash and cash equivalents | 10,848 | 126,509 | ||
Significant Other Observable Inputs (Level 2) | Available-For-Sale Securities Short-Term | Corporate Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 94,472 | 222,147 | ||
Significant Other Observable Inputs (Level 2) | Available-For-Sale Securities Short-Term | Corporate Equity Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 20,333 | 2,933 | ||
Significant Other Observable Inputs (Level 2) | Available-For-Sale Securities Short-Term | U.S. Government Agency Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 8,516 | |||
Significant Other Observable Inputs (Level 2) | Available-For-Sale Securities Short-Term | Commercial Paper | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 52,220 | |||
Significant Other Observable Inputs (Level 2) | Available-For-Sale Securities Short-Term | Certificates of Deposit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 31,061 | 36,615 | ||
Significant Other Observable Inputs (Level 2) | Available-For-Sale Securities Long-Term | Corporate Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 124,270 | 94,753 | ||
Significant Other Observable Inputs (Level 2) | Available-For-Sale Securities Long-Term | U.S. Government Agency Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 8,901 | 9,001 | ||
Significant Other Observable Inputs (Level 2) | Available-For-Sale Securities Long-Term | Greek Government-Issued Bonds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 128 | 100 | ||
Significant Other Observable Inputs (Level 2) | Available-For-Sale Securities Long-Term | Certificates of Deposit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 14,472 | 12,139 | ||
Significant Other Observable Inputs (Level 2) | Other Current Assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Restricted investments | 2,528 | [1] | 2,243 | [1] |
Significant Other Observable Inputs (Level 2) | Other Current Assets | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Nonqualified Deferred Compensation Plan assets | 49 | 2,052 | ||
Significant Other Observable Inputs (Level 2) | Other Current Assets | Foreign Exchange Forward | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Forward foreign currency exchange contract asset | 1,547 | [2] | ||
Significant Other Observable Inputs (Level 2) | Other Assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Restricted investments | 1,489 | [1] | 3,492 | [1] |
Significant Other Observable Inputs (Level 2) | Other Assets | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Nonqualified Deferred Compensation Plan assets | 3,350 | 2,375 | ||
Significant Other Observable Inputs (Level 2) | Current Liabilities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Contingent acquisition consideration payable | 0 | 0 | ||
Significant Other Observable Inputs (Level 2) | Current Liabilities | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Nonqualified Deferred Compensation Plan liability | 49 | 0 | ||
Significant Other Observable Inputs (Level 2) | Current Liabilities | Foreign Exchange Forward | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Forward foreign currency exchange contract liability | 1,820 | [2] | 1,078 | [2] |
Significant Other Observable Inputs (Level 2) | Other Long-Term Liabilities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Contingent acquisition consideration payable | 0 | 0 | ||
Asset retirement obligation | 0 | 0 | ||
Significant Other Observable Inputs (Level 2) | Other Long-Term Liabilities | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Nonqualified Deferred Compensation Plan liability | 3,350 | 4,427 | ||
Significant Other Observable Inputs (Level 2) | Other Long-Term Liabilities | Foreign Exchange Forward | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Forward foreign currency exchange contract liability | 131 | [2] | 368 | [2] |
Significant Unobservable Inputs (Level 3) | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Cash and cash equivalents | 0 | 0 | ||
Fair value of Available-for-sale securities | 0 | 0 | ||
Total other current assets | 0 | 0 | ||
Total other assets | 0 | 0 | ||
Fair value of financial assets, Total | 0 | 0 | ||
Asset retirement obligation | 1,685 | |||
Total current liabilities | 26,536 | 12,449 | ||
Total other long-term liabilities | 30,514 | 32,810 | ||
Fair value of financial liabilities, Total | 57,050 | 45,259 | ||
Significant Unobservable Inputs (Level 3) | Overnight Deposits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Cash and cash equivalents | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) | Money Market Instruments | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Cash and cash equivalents | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) | Available-For-Sale Securities Short-Term | Corporate Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) | Available-For-Sale Securities Short-Term | Corporate Equity Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) | Available-For-Sale Securities Short-Term | U.S. Government Agency Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | |||
Significant Unobservable Inputs (Level 3) | Available-For-Sale Securities Short-Term | Commercial Paper | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | |||
Significant Unobservable Inputs (Level 3) | Available-For-Sale Securities Short-Term | Certificates of Deposit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) | Available-For-Sale Securities Long-Term | Corporate Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) | Available-For-Sale Securities Long-Term | U.S. Government Agency Securities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) | Available-For-Sale Securities Long-Term | Greek Government-Issued Bonds | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) | Available-For-Sale Securities Long-Term | Certificates of Deposit | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Fair value of Available-for-sale securities | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) | Other Current Assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Restricted investments | 0 | [1] | 0 | [1] |
Significant Unobservable Inputs (Level 3) | Other Current Assets | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Nonqualified Deferred Compensation Plan assets | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) | Other Current Assets | Foreign Exchange Forward | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Forward foreign currency exchange contract asset | 0 | [2] | ||
Significant Unobservable Inputs (Level 3) | Other Assets | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Restricted investments | 0 | [1] | 0 | [1] |
Significant Unobservable Inputs (Level 3) | Other Assets | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Nonqualified Deferred Compensation Plan assets | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) | Current Liabilities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Contingent acquisition consideration payable | 26,536 | 10,764 | ||
Significant Unobservable Inputs (Level 3) | Current Liabilities | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Nonqualified Deferred Compensation Plan liability | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) | Current Liabilities | Foreign Exchange Forward | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Forward foreign currency exchange contract liability | 0 | [2] | 0 | [2] |
Significant Unobservable Inputs (Level 3) | Other Long-Term Liabilities | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Contingent acquisition consideration payable | 26,500 | 30,618 | ||
Asset retirement obligation | 4,014 | 2,192 | ||
Significant Unobservable Inputs (Level 3) | Other Long-Term Liabilities | Deferred Compensation Arrangement with Individual, by Type of Compensation, Pension and Other Postretirement Benefits | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Nonqualified Deferred Compensation Plan liability | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) | Other Long-Term Liabilities | Foreign Exchange Forward | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Forward foreign currency exchange contract liability | $0 | [2] | $0 | [2] |
[1] | The restricted investments secure the Company's irrevocable standby letter of credit obtained in connection with the Company's new corporate facility lease agreements and certain commercial agreements. | |||
[2] | See Note 12 to these Condensed Consolidated Financial Statements for further information regarding the derivative instruments. |
Liabilities_Measured_at_Fair_V
Liabilities Measured at Fair Value Using Level 3 Inputs (Detail) (Contingent Payment, USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Contingent Payment | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
Contingent acquisition consideration payable at December 31, 2012 | $41,382 |
Changes in the fair value of the contingent acquisition consideration payable | 9,816 |
Addition of contingent consideration payable related to the Zacharon acquisition | 1,857 |
Milestone payment to former LEAD shareholders | -19 |
Contingent acquisition consideration payable at September 30, 2013 | $53,036 |
Fair_Value_Measurement_Additio
Fair Value Measurement - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset retirement obligations | $4 | $3.90 |
Stock_Based_Compensation_Addit
Stock Based Compensation - Additional Information (Detail) (USD $) | 9 Months Ended | 9 Months Ended | |||||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | 8-May-12 | Sep. 30, 2013 |
Maximum | Minimum | Restricted Stock Units (RSUs) | 2012 Inducement Plan | Share Incentive Plan | |||
Maximum | Performance Awards | ||||||
Compensation Related Costs Share Based Payments Disclosure [Line Items] | |||||||
Share based awards, authorized | 750,000 | ||||||
Options, Granted | 2,403,722 | ||||||
Weighted Average fair value, Granted | $30.62 | ||||||
Shares, Granted | 558,231 | ||||||
Weighted Average fair value, Granted | $66.74 | $34.66 | |||||
Granted restricted stock units | 860,000 | ||||||
Total shareholder return, percentage of multiplier range | 125.00% | 75.00% | |||||
Stock-based compensation capitalized to inventory | $4.20 | $3 |
Assumptions_Used_to_Estimate_P
Assumptions Used to Estimate Per Share Fair Value of Stock Options Granted (Detail) (Stock Option) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Expected volatility | 44.00% | 46.00% | ||
Dividend yield | 0.00% | 0.00% | 0.00% | 0.00% |
Expected life | 6 years 9 months 18 days | 6 years 6 months | 6 years 6 months | |
Risk-free interest rate | 2.20% | 0.90% | ||
Minimum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Expected volatility | 44.00% | 45.00% | ||
Expected life | 6 years 7 months 6 days | |||
Risk-free interest rate | 1.00% | 0.80% | ||
Maximum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Expected volatility | 45.00% | 46.00% | ||
Expected life | 6 years 9 months 18 days | |||
Risk-free interest rate | 2.40% | 1.10% |
Compensation_Expense_Detail
Compensation Expense (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total stock-based compensation expense | $16,205 | $12,139 | $41,698 | $35,907 |
Cost of Sales | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total stock-based compensation expense | 1,489 | 1,327 | 3,663 | 3,535 |
Research and Development | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total stock-based compensation expense | 7,116 | 5,060 | 18,821 | 15,351 |
Selling, General And Administrative | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total stock-based compensation expense | $7,600 | $5,752 | $19,214 | $17,021 |
AntiDilutive_Common_Stock_Excl
Anti-Dilutive Common Stock Excluded From Computation of Diluted Net Loss Per Share (Detail) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Potential shares of common stock excluded from computation of earnings (loss) per share as they are anti-dilutive | 18,986 | 35,161 | 18,923 | 35,111 |
Options to purchase common stock | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Potential shares of common stock excluded from computation of earnings (loss) per share as they are anti-dilutive | 13,421 | 15,998 | 13,421 | 15,998 |
Common stock issuable under convertible debt | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Potential shares of common stock excluded from computation of earnings (loss) per share as they are anti-dilutive | 3,846 | 17,370 | 3,846 | 17,370 |
Unvested restricted stock units | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Potential shares of common stock excluded from computation of earnings (loss) per share as they are anti-dilutive | 1,235 | 1,297 | 1,180 | 1,256 |
Potentially issuable common stock | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Potential shares of common stock excluded from computation of earnings (loss) per share as they are anti-dilutive | 290 | 263 | 282 | 254 |
Common stock held by the Nonqualified Deferred Compensation Plan | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Potential shares of common stock excluded from computation of earnings (loss) per share as they are anti-dilutive | 194 | 233 | 194 | 233 |
Amounts_Reclassified_out_of_Ac
Amounts Reclassified out of Accumulated Other Comprehensive Income or Loss (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net product revenues | $134,330 | $126,310 | $394,074 | $365,540 |
Selling, general and administrative | -61,841 | -46,337 | -163,547 | -143,124 |
Income tax expense | -704 | 6,404 | 2,765 | 6,849 |
NET LOSS | -53,020 | -5,357 | -114,363 | -61,335 |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges | Foreign Exchange Contract | Reclassification out of Accumulated Other Comprehensive Income | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net product revenues | -101 | -928 | ||
Selling, general and administrative | 0 | -40 | ||
Income tax expense | 36 | 349 | ||
NET LOSS | ($65) | ($619) |
Summary_of_Changes_in_Accumula
Summary of Changes in Accumulated Balances of Other Comprehensive Income Loss Including Current Period Other Comprehensive Income and Reclassifications (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | ($202) | [1] |
Other comprehensive income before reclassifications | 12,294 | |
Amounts reclassified from AOCI | -619 | |
Net increase in other comprehensive income (loss) | 11,675 | |
Ending Balance | 11,473 | |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | -97 | |
Other comprehensive income before reclassifications | -606 | |
Amounts reclassified from AOCI | -619 | |
Net increase in other comprehensive income (loss) | -1,225 | |
Ending Balance | -1,322 | |
Unrealized Gain/(Losses) on Available-for-sale-Securities | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | 133 | |
Other comprehensive income before reclassifications | 11,007 | |
Amounts reclassified from AOCI | 0 | |
Net increase in other comprehensive income (loss) | 11,007 | |
Ending Balance | 11,140 | |
Foreign Currency Translation Adjustments | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | -238 | |
Other comprehensive income before reclassifications | 1,893 | |
Amounts reclassified from AOCI | 0 | |
Net increase in other comprehensive income (loss) | 1,893 | |
Ending Balance | $1,655 | |
[1] | December 31, 2012 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, 2012, filed with the Securities and Exchange Commission (the SEC) on February 26, 2013. |
Recovered_Sheet5
Revenue and Credit Concentrations - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |||||
Customer | Southern European Countries | Southern European Countries | Southern European Countries | Southern European Countries | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | Customer Concentration Risk | |||||||
Net Product Revenues | Net Product Revenues | Accounts Receivable | Accounts Receivable | Net Product Revenues | Net Product Revenues | Net Product Revenues | Net Product Revenues | Net Product Revenues | Net Product Revenues | Net Product Revenues | Net Product Revenues | Net Product Revenues | Net Product Revenues | Net Product Revenues | Net Product Revenues | Accounts Receivable | Accounts Receivable | Accounts Receivable | Accounts Receivable | ||||||||
Customer A | Customer A | Customer A | Customer A | Customer B | Customer B | Customer B | Customer B | Customer A | Customer A | Customer B | Customer B | ||||||||||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | |||||||||||||||||||||||||||
Revenue concentration risk | 10.00% | ||||||||||||||||||||||||||
Number of customers accounted for largest balance in accounts receivable | 2 | ||||||||||||||||||||||||||
Concentration risk, percentage | 4.00% | 4.00% | 12.00% | 12.00% | 47.00% | 52.00% | 49.00% | 51.00% | 15.00% | 14.00% | 15.00% | 15.00% | 17.00% | [1] | 18.00% | [1] | 15.00% | [1] | 15.00% | [1] | 39.00% | 51.00% | 13.00% | 13.00% | |||
Accounts receivable, net | $124,745 | $109,066 | [2] | $28,200 | $32,400 | ||||||||||||||||||||||
[1] | Genzyme is the Company's sole customer for Aldurazyme and is responsible for marketing and selling Aldurazyme to third-parties. Net product revenues from Genzyme are comprised of royalties on worldwide net Aldurazyme sales and incremental product transfer revenue. | ||||||||||||||||||||||||||
[2] | December 31, 2012 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, 2012, filed with the Securities and Exchange Commission (the SEC) on February 26, 2013. |
Consolidated_Net_Product_Reven
Consolidated Net Product Revenue Attributed to Largest Customers (Detail) (Net Product Revenues) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |||||
Geographic Concentration Risk | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Concentration risk, percentage | 100.00% | 100.00% | 100.00% | 100.00% | ||||
Geographic Concentration Risk | United States | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Concentration risk, percentage | 54.00% | 53.00% | 51.00% | 50.00% | ||||
Geographic Concentration Risk | Europe | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Concentration risk, percentage | 21.00% | 21.00% | 21.00% | 22.00% | ||||
Geographic Concentration Risk | Latin America | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Concentration risk, percentage | 8.00% | 14.00% | 12.00% | 15.00% | ||||
Geographic Concentration Risk | Rest of World | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Concentration risk, percentage | 17.00% | 12.00% | 16.00% | 13.00% | ||||
Customer Concentration Risk | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Concentration risk, percentage | 47.00% | 52.00% | 49.00% | 51.00% | ||||
Customer Concentration Risk | Customer A | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Concentration risk, percentage | 15.00% | 14.00% | 15.00% | 15.00% | ||||
Customer Concentration Risk | Customer B | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Concentration risk, percentage | 17.00% | [1] | 18.00% | [1] | 15.00% | [1] | 15.00% | [1] |
Customer Concentration Risk | Customer C | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Concentration risk, percentage | 4.00% | 11.00% | 8.00% | 12.00% | ||||
Customer Concentration Risk | Customer D | ||||||||
Segment Reporting, Revenue Reconciling Item [Line Items] | ||||||||
Concentration risk, percentage | 11.00% | 9.00% | 11.00% | 9.00% | ||||
[1] | Genzyme is the Company's sole customer for Aldurazyme and is responsible for marketing and selling Aldurazyme to third-parties. Net product revenues from Genzyme are comprised of royalties on worldwide net Aldurazyme sales and incremental product transfer revenue. |
Schedule_of_Accounts_Receivabl
Schedule of Accounts Receivable by Country that were Past Due (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | $5,229 | ||
Allowance for Doubtful Accounts | 376 | 348 | [1] |
ITALY | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 0 | ||
SPAIN | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 4,603 | ||
PORTUGAL | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 267 | ||
GREECE | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 359 | ||
Less Than 180 Days | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 2,187 | ||
Less Than 180 Days | ITALY | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 0 | ||
Less Than 180 Days | SPAIN | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 1,920 | ||
Less Than 180 Days | PORTUGAL | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 267 | ||
Less Than 180 Days | GREECE | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 0 | ||
180 -360 Days | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 1,467 | ||
180 -360 Days | ITALY | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 0 | ||
180 -360 Days | SPAIN | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 1,467 | ||
180 -360 Days | PORTUGAL | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 0 | ||
180 -360 Days | GREECE | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 0 | ||
Greater Than 360 Days | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 1,575 | ||
Greater Than 360 Days | ITALY | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 0 | ||
Greater Than 360 Days | SPAIN | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 1,216 | ||
Greater Than 360 Days | PORTUGAL | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 0 | ||
Greater Than 360 Days | GREECE | |||
Accounts Receivable [Line Items] | |||
Total Amount Past Due | 359 | ||
Foreign Operations | |||
Accounts Receivable [Line Items] | |||
Allowance for Doubtful Accounts | 359 | ||
Foreign Operations | ITALY | |||
Accounts Receivable [Line Items] | |||
Allowance for Doubtful Accounts | 0 | ||
Foreign Operations | SPAIN | |||
Accounts Receivable [Line Items] | |||
Allowance for Doubtful Accounts | 0 | ||
Foreign Operations | PORTUGAL | |||
Accounts Receivable [Line Items] | |||
Allowance for Doubtful Accounts | 0 | ||
Foreign Operations | GREECE | |||
Accounts Receivable [Line Items] | |||
Allowance for Doubtful Accounts | $359 | ||
[1] | December 31, 2012 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, 2012, filed with the Securities and Exchange Commission (the SEC) on February 26, 2013. |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Commitments and Contingencies [Line Items] | |
Contingent payments upon achievement of certain regulatory and licensing milestones | $438.40 |
Completed Programs | |
Commitments and Contingencies [Line Items] | |
Contingent payments upon achievement of certain regulatory and licensing milestones | $57.60 |
Subsequent_Event_Additional_In
Subsequent Event - Additional Information (Detail) (Subsequent Event, USD $) | 1 Months Ended |
Oct. 15, 2013 | |
Subsequent Event [Line Items] | |
Debt instrument, face amount | $750,000,000 |
Net proceeds from offering debt | 726,400,000 |
Debt instrument, frequency of interest payment | Payable semiannually in arrears on April 15 and October 15 of each year beginning on April 15, 2014 |
Debt instrument, convertible, conversion rate | 10.6213 |
Debt instrument, convertible, principal amount | 1,000 |
Debt instrument, convertible, conversion price | $94.15 |
Capped call transactions | |
Subsequent Event [Line Items] | |
Payment for privately-negotiated capped Call transactions | 29,800,000 |
Capped call transactions, cap price | 121.05 |
Due 2018 | |
Subsequent Event [Line Items] | |
Debt instrument, face amount | 375,000,000 |
Debt instrument, interest rate, stated percentage, per annum | 0.75% |
Maturity date of convertible debt | 2018-10 |
Due 2020 | |
Subsequent Event [Line Items] | |
Debt instrument, face amount | $375,000,000 |
Debt instrument, interest rate, stated percentage, per annum | 1.50% |
Maturity date of convertible debt | 2020-10 |
Due 2020 | Capped call transactions | |
Subsequent Event [Line Items] | |
Percentage of the principal amount | 50.00% |
Senior Notes Due Two Thousand Eighteen | Capped call transactions | |
Subsequent Event [Line Items] | |
Percentage of the principal amount | 50.00% |