Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2014 | Apr. 18, 2014 | |
Document Information [Line Items] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Trading Symbol | 'BMRN | ' |
Entity Registrant Name | 'BIOMARIN PHARMACEUTICAL INC | ' |
Entity Central Index Key | '0001048477 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 145,926,798 |
CONDENSED_CONSOLIDATED_BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Current assets: | ' | ' | |
Cash and cash equivalents | $639,778 | $568,781 | [1] |
Short-term investments | 247,703 | 215,942 | [1] |
Accounts receivable, net (allowance for doubtful accounts: $551 and $529, respectively) | 110,462 | 117,822 | [1] |
Inventory | 176,893 | 162,605 | [1] |
Current deferred tax assets | 30,561 | 30,561 | [1] |
Other current assets | 41,013 | 41,707 | [1] |
Total current assets | 1,246,410 | 1,137,418 | [1] |
Noncurrent assets: | ' | ' | |
Investment in BioMarin/Genzyme LLC | 478 | 816 | [1] |
Long-term investments | 251,450 | 267,700 | [1] |
Property, plant and equipment, net | 437,066 | 319,316 | [1] |
Intangible assets, net | 165,397 | 163,147 | [1] |
Goodwill | 54,258 | 54,258 | [1] |
Long-term deferred tax assets | 144,124 | 145,234 | [1] |
Other assets | 41,545 | 156,171 | [1] |
Total assets | 2,340,728 | 2,244,060 | [1] |
Current liabilities: | ' | ' | |
Accounts payable and accrued liabilities | 156,038 | 183,271 | [1] |
Total current liabilities | 156,038 | 183,271 | [1] |
Noncurrent liabilities: | ' | ' | |
Long-term convertible debt | 661,419 | 655,566 | [1] |
Long-term contingent acquisition consideration payable | 38,430 | 30,790 | [1] |
Other long-term liabilities | 24,720 | 33,392 | [1] |
Total liabilities | 880,607 | 903,019 | [1] |
Stockholders' equity: | ' | ' | |
Common stock, $0.001 par value: 250,000,000 shares authorized at March 31, 2014 and December 31, 2013: 145,738,396 and 143,463,668 shares issued and outstanding at March 31, 2014 and December 31, 2013, respectively. | 146 | 144 | [1] |
Additional paid-in capital | 2,213,347 | 2,059,101 | [1] |
Company common stock held by Nonqualified Deferred Compensation Plan | -6,731 | -7,421 | [1] |
Accumulated other comprehensive income | 7,275 | 5,018 | [1] |
Accumulated deficit | -753,916 | -715,801 | [1] |
Total stockholders' equity | 1,460,121 | 1,341,041 | [1] |
Total liabilities and stockholders' equity | $2,340,728 | $2,244,060 | [1] |
[1] | December 31, 2013 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, 2013, filed with the Securities and Exchange Commission (the SEC) on February 26, 2014. |
CONDENSED_CONSOLIDATED_BALANCE1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | |
In Thousands, except Share data, unless otherwise specified | |||
Allowance for doubtful accounts | $551 | $529 | [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 | 145,738,396 | 143,463,668 | [1] |
Common stock, shares outstanding | 145,738,396 | 143,463,668 | [1] |
[1] | December 31, 2013 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, 2013, filed with the Securities and Exchange Commission (the SEC) on February 26, 2014. |
CONDENSED_CONSOLIDATED_STATEME
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
REVENUES: | ' | ' |
Net product revenues | $149,004 | $127,344 |
Collaborative agreement revenues | 415 | 135 |
Royalty, license and other revenues | 2,133 | 449 |
Total revenues | 151,552 | 127,928 |
OPERATING EXPENSES: | ' | ' |
Cost of sales (excludes amortization of certain acquired intangible assets) | 22,816 | 20,500 |
Research and development | 86,166 | 83,743 |
Selling, general and administrative | 60,069 | 51,050 |
Intangible asset amortization and contingent consideration | 8,957 | 5,556 |
Total operating expenses | 178,008 | 160,849 |
LOSS FROM OPERATIONS | -26,456 | -32,921 |
Equity in the loss of BioMarin/Genzyme LLC | -338 | -401 |
Interest income | 1,123 | 718 |
Interest expense | -9,106 | -1,725 |
Debt conversion expense | 0 | -10,420 |
Other income | 153 | 228 |
LOSS BEFORE INCOME TAXES | -34,624 | -44,521 |
Provision for (benefit from) income taxes | 3,491 | -4,711 |
NET LOSS | -38,115 | -39,810 |
NET LOSS PER SHARE, BASIC | ($0.26) | ($0.31) |
NET LOSS PER SHARE, DILUTED | ($0.27) | ($0.31) |
Weighted average common shares outstanding, basic | 143,983 | 127,969 |
Weighted average common shares outstanding, diluted | 144,157 | 127,969 |
COMPREHENSIVE LOSS | ($35,858) | ($38,453) |
CONDENSED_CONSOLIDATED_STATEME1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | |
Net loss | ($38,115) | ($39,810) | |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | |
Depreciation and amortization | 12,023 | 11,348 | |
Non-cash interest expense | 6,698 | 216 | |
Accretion of discount on investments | 1,900 | 1,456 | |
Equity in the loss of BioMarin/Genzyme LLC | 338 | 401 | |
Stock-based compensation | 17,267 | 11,508 | |
Gain on termination of lease | -8,858 | 0 | |
Deferred income taxes | -179 | -43 | |
Excess tax benefit from stock option exercises | -278 | -128 | |
Unrealized foreign exchange (gain) loss on forward contracts | 1,323 | -364 | |
Non-cash changes in the fair value of contingent acquisition consideration payable | 8,151 | 4,751 | |
Debt conversion expense | 0 | 10,420 | |
Changes in operating assets and liabilities: | ' | ' | |
Accounts receivable, net | 7,360 | -11,279 | |
Inventory | -14,288 | -7,127 | |
Other current assets | -927 | -8,404 | |
Other assets | -955 | -1,016 | |
Accounts payable and accrued liabilities | -18,921 | -6,732 | |
Other long-term liabilities | 587 | 2,774 | |
Net cash used in operating activities | -26,874 | -32,029 | |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' | |
Purchases of property, plant and equipment | -24,177 | -11,826 | |
Maturities and sales of investments | 69,391 | 82,531 | |
Purchase of available-for-sale investments | -84,306 | -68,770 | |
Business acquisitions, net of cash acquired | 0 | -9,875 | |
Net cash used in investing activities | -39,092 | -7,940 | |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' | |
Proceeds from exercises of stock options | 19,712 | 24,580 | |
Taxes paid related to net share settlement of equity awards | -473 | -225 | |
Proceeds from public offering of common stock, net | 117,463 | 0 | |
Excess tax benefit from stock option exercises | 278 | 128 | |
Payments for debt conversion | 0 | -10,420 | |
Payment on maturity of 2013 convertible note | 0 | -98 | |
Repayment of capital lease obligations | -17 | -143 | |
Net cash provided by financing activities | 136,963 | 13,822 | |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 70,997 | -26,147 | |
Cash and cash equivalents: | ' | ' | |
Beginning of period | 568,781 | [1] | 180,527 |
End of period | 639,778 | 154,380 | |
SUPPLEMENTAL CASH FLOW DISCLOSURES: | ' | ' | |
Cash paid for interest, net of interest capitalized into fixed assets | 1 | 1,998 | |
Cash paid for income taxes | 381 | 646 | |
Stock-based compensation capitalized into inventory | 2,053 | 993 | |
Depreciation capitalized into inventory | 2,924 | 2,607 | |
SUPPLEMENTAL CASH FLOW DISCLOSURES FROM INVESTING AND FINANCING ACTIVITIES: | ' | ' | |
Decrease in accounts payable and accrued liabilities related to fixed assets | -9,171 | -6,407 | |
Conversion of convertible debt | 0 | 238,277 | |
Deferred offering costs reclassified into additional paid-in-capital as a result of conversion of convertible debt | 0 | 2,315 | |
Release of escrow balance for purchase of San Rafael Corporate Center | $116,500 | $0 | |
[1] | December 31, 2013 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, 2013, filed with the Securities and Exchange Commission (the SEC) on February 26, 2014. |
NATURE_OF_OPERATIONS_AND_BUSIN
NATURE OF OPERATIONS AND BUSINESS RISKS | 3 Months Ended |
Mar. 31, 2014 | |
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 five approved products and multiple investigational product candidates. The Company’s approved products are VIMIZIM (elosulfase alpha), Naglazyme (galsulfase), Kuvan (sapropterin dihydrochloride), Aldurazyme (laronidase) and Firdapse (amifampridine phosphate). | |
Through March 31, 2014, the Company had accumulated losses of approximately $753.9 million. 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 VIMIZIM, Naglazyme, Kuvan, Aldurazyme and Firdapse; the potential need for additional financings; the Company’s 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; the Company’s ability to successfully obtain 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 | 3 Months Ended |
Mar. 31, 2014 | |
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, 2013 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 months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2014. | |
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. |
SIGNIFICANT_ACCOUNTING_POLICIE
SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended |
Mar. 31, 2014 | |
SIGNIFICANT ACCOUNTING POLICIES | ' |
(3) SIGNIFICANT ACCOUNTING POLICIES | |
There have been no material changes to the Company’s significant accounting policies during the three months ended March 31, 2014, 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, 2013. | |
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 | 3 Months Ended |
Mar. 31, 2014 | |
RECENT ACCOUNTING PRONOUNCEMENTS | ' |
(4) RECENT ACCOUNTING PRONOUNCEMENTS | |
There have been no new accounting pronouncements or changes to accounting pronouncements during the three months ended March 31, 2014, as compared to the recent accounting pronouncements described in the Company’s Annual Report on Form 10-K for the year-ended December 31, 2013, that are of significance or potential significance to the Company. |
BUSINESS_ACQUISITION
BUSINESS ACQUISITION (San Rafael Corporate Center) | 3 Months Ended | ||||||
Mar. 31, 2014 | |||||||
San Rafael Corporate Center | ' | ||||||
BUSINESS ACQUISITION | ' | ||||||
(5) ACQUISITION OF SAN RAFAEL CORPORATE CENTER | |||||||
On March 10, 2014, the Company completed the acquisition of the real estate commonly known as the San Rafael Corporate Center (SRCC), located in San Rafael, California. SRCC is a multi-building, commercial property where, prior to the transaction, the Company was leasing a certain portion of the space for its headquarters and related operating activities. The purpose of this acquisition is to allow for future expansion of the Company’s corporate headquarters to accommodate anticipated headcount growth. The acquisition of SRCC has been accounted for as a business combination because the building and the in-place leases met the definition of a business in Accounting Standards Codification 805 (ASC 805), Business Combinations. The purchase price for SRCC was $116.5 million. The fair value of the consideration paid was $116.5 million, all of which was paid in cash, which was held in escrow as of December 31, 2013. | |||||||
The following table summarizes the estimated fair values of assets acquired as of the date of acquisition: | |||||||
  | Estimated |   | Estimated Useful Lives | ||||
Fair Value | |||||||
Building and improvements | Â Â | $ | 94,414 | Â Â | Â Â | 50 years | |
Land | Â Â | 14,565 | Â Â | Â Â | |||
Land improvements | Â Â | 3,616 | Â Â | Â Â | 10 years | ||
Intangible assets |   | 3,905 |   |   | Remaining lease term | ||
  |   | ||||||
Total identifiable net assets | Â Â | $ | Â Â 116,500 | Â Â | Â Â | ||
  |   | ||||||
The fair values assigned to tangible and identifiable intangible assets acquired assumed are based on management’s estimates and assumptions based on the information that was available as of the date of the acquisition. The Company believes that the information provides a reasonable basis for estimating the fair values of assets acquired. | |||||||
The following table sets forth the fair value of the components of the identifiable intangible assets acquired by asset class: | |||||||
Above market leases | Â Â | $ | 351 | Â Â | |||
In-place leases | Â Â | 3,554 | Â Â | ||||
  | |||||||
Total intangible assets subject to amortization | Â Â | $ | Â Â 3,905 | Â Â | |||
  | |||||||
The value of any in-place leases are estimated to be equal to the property owners’ avoidance of costs necessary to release the property for a lease term equal to the remaining primary in-place lease term and the value of investment grade tenancy, which is derived by estimating, based on a review of the market, the cost to be borne by a property owner to replicate a market lease for the remaining in-place term. These costs consist of: (i) rent lost during downtime (e.g., assumed periods of vacancy), (ii) estimated expenses that would be incurred by the property owner during periods of vacancy, (iii) rent concessions (e.g., free rent), (iv) leasing commissions and (v) tenant improvement allowances. The Company determined these values using management’s estimates along with third-party appraisals. The Company will amortize the capitalized value of in-place lease intangible assets to expense over the remaining initial term of each lease. The Company will amortize the capitalized value of above market leases to expense over the remaining lives of the underlying leases. | |||||||
The amount of third-party tenant revenue (included in the line item Royalty, License and Other Revenues) and net income from third-party tenants included in the Company’s Condensed Consolidated Statements of Comprehensive Loss from the acquisition date of March 10, 2014, through the period ended March 31, 2014, were $0.4 million and $0.3 million, respectively. | |||||||
SRCC’s results of operations prior to the acquisition were insignificant to the Company’s Condensed Consolidated Financial Statements. | |||||||
Included in Selling, General and Administrative (SG&A) expenses are transaction costs incurred in connection with the acquisition of $0.2 million during the three months ended March 31, 2014. In connection with the purchase of SRCC, the Company recognized a gain of $8.8 million in the three months ended March 31, 2014, due to the early termination of the Company’s lease and the realization of the remaining balance in deferred rent and the reversal of the related asset retirement obligation upon acquisition of the SRCC. $2.7 million and $6.1 million of the gain were included in SG&A and Research and Development (R&D) expenses, respectively. The allocation of the gain to SG&A and R&D is consistent with the Company’s allocation practices for facility costs for this previously leased space. |
STOCKHOLDERS_EQUITY
STOCKHOLDERS' EQUITY | 3 Months Ended |
Mar. 31, 2014 | |
STOCKHOLDERS' EQUITY | ' |
(6) STOCKHOLDERS’ EQUITY | |
In March 2014, the Company sold 1.5Â million shares of its common stock at a price of $78.45 per share in an underwritten public offering pursuant to an effective registration statement previously filed with the SEC. The Company received net proceeds of approximately $117.5Â million from this public offering. |
NET_LOSS_PER_COMMON_SHARE
NET LOSS PER COMMON SHARE | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
NET LOSS PER COMMON SHARE | ' | ||||||||
(7) 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 Company’s Amended and Restated Employee Stock Purchase Plan (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 following table sets forth the computation of basic and diluted earnings per common share: | |||||||||
  | Three Months Ended March 31, | ||||||||
  | 2014 | 2013 | |||||||
Numerator: | Â Â | ||||||||
Net loss, basic | Â Â | $ | (38,115 | ) | $ | (39,810 | ) | ||
Gain on Company common stock issued to the Nonqualified Deferred Compensation Plan | Â Â | (374 | )Â | 0 | Â Â | ||||
  | |||||||||
Net loss, diluted | Â Â | $ | (38,489 | ) | $ | (39,810 | ) | ||
  | |||||||||
Denominator (in thousands of common shares): | Â Â | ||||||||
Basic weighted-average shares outstanding | Â Â | 143,983 | Â Â | 127,969 | Â Â | ||||
Effect of dilutive securities: | Â Â | ||||||||
Common stock issued to the Nonqualified Deferred Compensation Plan | Â Â | 174 | Â Â | 0 | Â Â | ||||
  | |||||||||
Fully diluted weighted-average shares | Â Â | 144,157 | Â Â | 127,969 | Â Â | ||||
  | |||||||||
Basic loss per common share | Â Â | $ | (0.26 | ) | $ | (0.31 | ) | ||
  | |||||||||
Diluted loss per common share | Â Â | $ | (0.27 | ) | $ | (0.31 | ) | ||
  | |||||||||
In addition to the equity instruments included in the table above, the table below presents potential shares of common stock that were excluded from the computation as they were anti-dilutive using the treasury stock method (in thousands of common shares): | |||||||||
  | Three Months Ended March 31, | ||||||||
  | 2014 |   | 2013 | ||||||
Options to purchase common stock | Â Â | 12,444 | Â Â | Â Â | 12,884 | Â Â | |||
Common stock issuable under the 2017 Notes | Â Â | 3,047 | Â Â | Â Â | 5,396 | Â Â | |||
Common stock issuable under the 2018 Notes and the 2020 Notes | Â Â | 7,966 | Â Â | Â Â | 0 | Â Â | |||
Unvested restricted stock units | Â Â | 1,326 | Â Â | Â Â | 1,375 | Â Â | |||
Potentially issuable common stock for ESPP purchases | Â Â | 209 | Â Â | Â Â | 325 | Â Â | |||
Common stock held by the Nonqualified Deferred Compensation Plan | Â Â | 0 | Â Â | Â Â | 202 | Â Â | |||
  |   | ||||||||
Total number of potentially issuable shares | Â Â | 24,992 | Â Â | Â Â | 20,182 | Â Â | |||
  |   | ||||||||
The Company accounts for the effect of the 2018 Notes and the 2020 Notes on diluted net loss per share using the treasury stock method since they may be settled in cash or shares at the Company’s option. As a result, the 2018 Notes and the 2020 Notes have no effect on diluted net loss per share until the Company’s stock price exceeds the conversion price of $94.15 per share for the Notes. In the period of conversion, the Notes will have no impact on diluted net loss if the Notes are settled in cash and will have an impact on dilutive loss per share if the Notes are settled in shares upon conversion. |
INVESTMENTS
INVESTMENTS | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
INVESTMENTS | ' | ||||||||||||||||
(8) INVESTMENTS | |||||||||||||||||
All investments were classified as available-for-sale at March 31, 2014 and December 31, 2013. 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 March 31, 2014 and December 31, 2013 are summarized in the tables below: | |||||||||||||||||
  |   Amortized  |   | Gross |   | Gross | Aggregate | |||||||||||
Cost | Unrealized | Unrealized | Fair Value at | ||||||||||||||
  Holding Gains  |   Holding Losses  |      March 31, 2014     | |||||||||||||||
Certificates of deposit | Â Â | $ | 53,171 | Â Â | Â Â | $ | 5 | Â Â | Â Â | $ | 0 | Â Â | $ | 53,176 | Â Â | ||
Corporate debt securities | Â Â | 383,897 | Â Â | Â Â | 413 | Â Â | Â Â | (379 | )Â | 383,931 | Â Â | ||||||
Commercial paper | Â Â | 52,946 | Â Â | Â Â | 19 | Â Â | Â Â | 0 | Â Â | 52,965 | Â Â | ||||||
U.S. Government agency securities | Â Â | 8,900 | Â Â | Â Â | 2 | Â Â | Â Â | 0 | Â Â | 8,902 | Â Â | ||||||
Greek government-issued bonds | Â Â | 52 | Â Â | Â Â | 127 | Â Â | Â Â | 0 | Â Â | 179 | Â Â | ||||||
  |   |   | |||||||||||||||
Total | Â Â | $ | 498,966 | Â Â | Â Â | $ | 566 | Â Â | Â Â | $ | (379 | )Â | $ | 499,153 | Â Â | ||
  |   |   | |||||||||||||||
  |   Amortized  |   | Gross |   | Gross | Aggregate | |||||||||||
Cost | Unrealized | Unrealized | Fair Value at | ||||||||||||||
  Holding Gains  |   Holding Losses  |   December 31, 2013  | |||||||||||||||
Certificates of deposit | Â Â | $ | 47,008 | Â Â | Â Â | $ | 2 | Â Â | Â Â | $ | 0 | Â Â | $ | 47,010 | Â Â | ||
Corporate debt securities | Â Â | 341,519 | Â Â | Â Â | 313 | Â Â | Â Â | (423 | )Â | 341,409 | Â Â | ||||||
Commercial paper | Â Â | 86,154 | Â Â | Â Â | 24 | Â Â | Â Â | 0 | Â Â | 86,178 | 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 | 52 | Â Â | Â Â | 92 | Â Â | Â Â | 0 | Â Â | 144 | Â Â | ||||||
  |   |   | |||||||||||||||
Total | Â Â | $ | 483,633 | Â Â | Â Â | $ | 432 | Â Â | Â Â | $ | (423 | )Â | $ | 483,642 | Â Â | ||
  |   |   | |||||||||||||||
The Company has an investment in marketable equity securities which is measured using quoted prices in its respective active market that is considered a strategic investment. As of March 31, 2014, the fair value of the Company’s marketable equity securities of $15.1 million included an unrealized gain of $12.1 million. As of December 31, 2013, the fair value of the Company’s marketable equity securities of $13.0 million includes an unrealized gain of $10.1 million. This investment is recorded in Other Assets in the Company’s Condensed Consolidated Balance Sheets. | |||||||||||||||||
The fair values of available-for-sale securities by contractual maturity were as follows: | |||||||||||||||||
  |    March 31,   |   | December 31, | ||||||||||||||
2014 | 2013 | ||||||||||||||||
Maturing in one year or less | Â Â | $ | 247,703 | Â Â | Â Â | $ | 215,942 | Â Â | |||||||||
Maturing after one year through three years | Â Â | 251,450 | Â Â | Â Â | 267,700 | Â Â | |||||||||||
  |   | ||||||||||||||||
Total | Â Â | $ | 499,153 | Â Â | Â Â | $ | 483,642 | 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 March 31, 2014, some of the Company’s investments were in an unrealized loss position. However, none of the underlying investments have 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. |
INTANGIBLE_ASSETS
INTANGIBLE ASSETS | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
INTANGIBLE ASSETS | ' | ||||||||
(9) INTANGIBLE ASSETS | |||||||||
Intangible assets consisted of the following: | |||||||||
  |    March 31,   | December 31, | |||||||
2014 | 2013 | ||||||||
Intangible assets: | Â Â | ||||||||
Finite-lived intangible assets | Â Â | $ | 123,147 | Â Â | $ | 118,242 | Â Â | ||
Indefinite-lived intangible assets | Â Â | 74,430 | Â Â | 74,430 | Â Â | ||||
  | |||||||||
Gross intangible assets: | Â Â | 197,577 | Â Â | 192,672 | Â Â | ||||
Less: Accumulated amortization | Â Â | (32,180 | )Â | (29,525 | )Â | ||||
  | |||||||||
Net carrying value | Â Â | $ | 165,397 | Â Â | $ | 163,147 | 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 10 to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, for additional information related to the Company’s Intangible Assets. |
PROPERTY_PLANT_AND_EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
PROPERTY, PLANT AND EQUIPMENT | ' | ||||||||
(10) PROPERTY, PLANT AND EQUIPMENT | |||||||||
Property, plant and equipment, net consisted of the following: | |||||||||
  |    March 31,   | December 31, | |||||||
2014 | 2013 | ||||||||
Leasehold improvements | Â Â | $ | 58,527 | Â Â | $ | 73,973 | Â Â | ||
Building and improvements | Â Â | 270,441 | Â Â | 159,125 | Â Â | ||||
Manufacturing and laboratory equipment | Â Â | 99,978 | Â Â | 95,126 | Â Â | ||||
Computer hardware and software | Â Â | 78,729 | Â Â | 74,948 | Â Â | ||||
Furniture and equipment | Â Â | 12,661 | Â Â | 12,367 | Â Â | ||||
Land improvements | Â Â | 3,616 | Â Â | 0 | Â Â | ||||
Land | Â Â | 26,145 | Â Â | 11,608 | Â Â | ||||
Construction-in-progress | Â Â | 81,559 | Â Â | 77,212 | Â Â | ||||
  | |||||||||
  | 631,656 |   | 504,359 |   | |||||
Less: Accumulated depreciation | Â Â | (194,590 | )Â | (185,043 | )Â | ||||
  | |||||||||
Total property, plant and equipment, net | Â Â | $ | 437,066 | Â Â | $ | 319,316 | Â Â | ||
  | |||||||||
Depreciation expense for the three months ended March 31, 2014 and 2013 was $9.6 million and $8.7 million, respectively, of which $2.9 million and $2.6 million was capitalized into inventory, respectively. | |||||||||
Capitalized interest related to the Company’s property, plant and equipment purchases for each of the three months ended March 31, 2014 and 2013 was insignificant. |
SUPPLEMENTAL_BALANCE_SHEET_INF
SUPPLEMENTAL BALANCE SHEET INFORMATION | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
SUPPLEMENTAL BALANCE SHEET INFORMATION | ' | ||||||||
(11) SUPPLEMENTAL BALANCE SHEET INFORMATION | |||||||||
Inventory consisted of the following: | |||||||||
  |    March 31,   |   | December 31, | ||||||
2014 | 2013 | ||||||||
Raw materials | Â Â | $ | 14,491 | Â Â | Â Â | $ | 15,309 | Â Â | |
Work-in-process | Â Â | 105,663 | Â Â | Â Â | 88,417 | Â Â | |||
Finished goods | Â Â | 56,739 | Â Â | Â Â | 58,879 | Â Â | |||
  |   | ||||||||
Total inventory | Â Â | $ | 176,893 | Â Â | Â Â | $ | 162,605 | Â Â | |
  |   | ||||||||
Other Assets consisted of the following: | |||||||||
  |    March 31,   |   | December 31, | ||||||
2014 | 2013 | ||||||||
Deposits | Â Â | $ | 7,239 | Â Â | Â Â | $ | 7,196 | Â Â | |
Escrow balance for SRCC purchase | Â Â | 0 | Â Â | Â Â | 116,500 | Â Â | |||
Deferred offering costs | Â Â | 14,364 | Â Â | Â Â | 15,374 | Â Â | |||
Strategic investment | Â Â | 15,067 | Â Â | Â Â | 13,000 | Â Â | |||
Other | Â Â | 4,875 | Â Â | Â Â | 4,101 | Â Â | |||
  |   | ||||||||
Total other assets | Â Â | $ | 41,545 | Â Â | Â Â | $ | 156,171 | Â Â | |
  |   | ||||||||
Accounts payable and accrued liabilities consisted of the following: | |||||||||
  |    March 31,   |   | December 31, | ||||||
2014 | 2013 | ||||||||
Accounts payable | Â Â | $ | 15,328 | Â Â | Â Â | $ | 36,894 | Â Â | |
Accrued accounts payable | Â Â | 64,395 | Â Â | Â Â | 58,408 | Â Â | |||
Accrued compensation expense | Â Â | 22,006 | Â Â | Â Â | 33,496 | Â Â | |||
Accrued vacation expense | Â Â | 12,210 | Â Â | Â Â | 10,487 | Â Â | |||
Current portion of contingent acquisition consideration payable | Â Â | 12,393 | Â Â | Â Â | 11,882 | Â Â | |||
Accrued rebates payable | Â Â | 10,763 | Â Â | Â Â | 10,429 | Â Â | |||
Accrued royalties payable | Â Â | 4,670 | Â Â | Â Â | 5,829 | Â Â | |||
Value added taxes payable | Â Â | 3,504 | Â Â | Â Â | 3,603 | Â Â | |||
Other accrued operating expenses | Â Â | 3,822 | Â Â | Â Â | 4,875 | Â Â | |||
Current portion of nonqualified deferred compensation liability | Â Â | 905 | Â Â | Â Â | 1,363 | Â Â | |||
Other | Â Â | 6,042 | Â Â | Â Â | 6,005 | Â Â | |||
  |   | ||||||||
Total accounts payable and accrued liabilities | Â Â | $ | 156,038 | Â Â | Â Â | $ | 183,271 | Â Â | |
  |   |
CONVERTIBLE_DEBT
CONVERTIBLE DEBT | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
CONVERTIBLE DEBT | ' | ||||||||
(12) CONVERTIBLE DEBT | |||||||||
The following table summarizes information regarding the Company’s convertible debt: | |||||||||
  |    March 31,   |   | December 31, | ||||||
2014 | 2013 | ||||||||
Convertible Notes due 2020, net of unamortized discount of $85,301 and $87,975, respectively | Â Â | $ | 289,699 | Â Â | Â Â | $ | 287,025 | Â Â | |
Convertible Notes due 2018, net of unamortized discount of $65,320 and $68,500, respectively | Â Â | 309,680 | Â Â | Â Â | 306,500 | Â Â | |||
Convertible Notes due 2017 | Â Â | 62,040 | Â Â | Â Â | 62,041 | Â Â | |||
  |   | ||||||||
Total long-term convertible debt, net of unamortized discount | Â Â | $ | 661,419 | Â Â | Â Â | $ | 655,566 | Â Â | |
  |   | ||||||||
Fair value of fixed rate convertible debt | Â Â | Â Â | |||||||
Convertible Notes due in 2020 (1) | Â Â | $ | 416,618 | Â Â | Â Â | $ | 400,879 | Â Â | |
Convertible Notes due in 2018 (1) | Â Â | 411,742 | Â Â | Â Â | 397,691 | Â Â | |||
Convertible Notes due in 2017 (1) | Â Â | 207,577 | Â Â | Â Â | 213,765 | Â Â | |||
  |   | ||||||||
Total | Â Â | $ | 1,035,937 | Â Â | Â Â | $ | 1,012,335 | Â Â | |
  |   | ||||||||
-1 | The fair value of the Company’s fixed rate convertible debt is based on open market trades and is classified as Level 1 in the fair value hierarchy. | ||||||||
Interest expense on the Company’s convertible debt was comprised of the following: | |||||||||
  | Three Months Ended March, 31 | ||||||||
  | 2014 |   | 2013 | ||||||
Coupon interest | Â Â | $ | 2,408 | Â Â | Â Â | $ | 1,509 | Â Â | |
Amortization of issuance costs | Â Â | 843 | Â Â | Â Â | 216 | Â Â | |||
Accretion of debt discount | Â Â | 5,855 | Â Â | Â Â | 0 | Â Â | |||
  |   | ||||||||
Total interest expense on convertible debt | Â Â | $ | 9,106 | Â Â | Â Â | $ | 1,725 | Â Â | |
  |   | ||||||||
See Note 5 to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, for additional information related to the Company’s Convertible Debt. |
DERIVATIVE_INSTRUMENTS_AND_HED
DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES | ' | ||||||||||||
(13) 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 potential 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, the British Pound and the Brazilian Real. | |||||||||||||
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 March 31, 2014, the Company had 105 forward foreign currency exchange contracts outstanding to sell a total of 141.4 million Euros with expiration dates ranging from April 2014 through February 2017. 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 in offsetting fluctuations in revenues denominated in Euros 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 SG&A expense in the Company’s Condensed Consolidated Statements of Comprehensive Loss. At March 31, 2014, the Company had two outstanding forward foreign currency exchange contract to sell 38.6 million Euros and 2.8 million British Pounds, which were not designated as a hedge for accounting purposes and matured on April 30, 2014. | |||||||||||||
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 February 2017. Over the next twelve months, the Company expects to reclassify $1.4 million from accumulated other comprehensive income to earnings as the forecasted revenue transactions occur. | |||||||||||||
The fair value carrying amounts of the Company’s derivative instruments were as follows: | |||||||||||||
  | Asset Derivatives |   | Liability Derivatives | ||||||||||
March 31, 2014 | March 31, 2014 | ||||||||||||
  | 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 |   | $ | 38 |   |   | Accounts payable and |   | $ | 1,329 |   | |
accrued liabilities | |||||||||||||
Forward foreign currency exchange contracts |   | Other assets |   | 275 |   |   | Other long-term liabilities |   | 73 |   | |||
  |   |   |   | ||||||||||
Total | Â Â | Â Â | $ | 313 | Â Â | Â Â | Â Â | $ | 1,402 | 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 |   | $ | 115 |   | |
accrued liabilities | |||||||||||||
  |   |   |   | ||||||||||
Total | Â Â | Â Â | 0 | Â Â | Â Â | Â Â | 115 | Â Â | |||||
  |   |   |   | ||||||||||
Total value of derivative contracts | Â Â | Â Â | $ | 313 | Â Â | Â Â | Â Â | $ | 1,517 | Â Â | |||
  |   |   |   | ||||||||||
  | Asset Derivatives |   | Liability Derivatives | ||||||||||
December 31, 2013 | December 31, 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 |   | $ | 2,186 |   | |
accrued liabilities | |||||||||||||
Forward foreign currency exchange contracts |   | Other assets |   | 0 |   |   | Other long-term liabilities |   | 0 |   | |||
  |   |   |   | ||||||||||
Total | Â Â | Â Â | $ | 0 | Â Â | Â Â | Â Â | $ | 2,186 | Â Â | |||
  |   |   |   | ||||||||||
Derivatives not designated as hedging instruments: | Â Â | Â Â | Â Â | Â Â | |||||||||
Forward foreign currency exchange contracts |   | Other current assets |   | $ | 59 |   |   | Accounts payable and |   | $ | 0 |   | |
accrued liabilities | |||||||||||||
  |   |   |   | ||||||||||
Total | Â Â | Â Â | 59 | Â Â | Â Â | Â Â | 0 | Â Â | |||||
  |   |   |   | ||||||||||
Total value of derivative contracts | Â Â | Â Â | $ | 59 | Â Â | Â Â | Â Â | $ | 2,186 | Â Â | |||
  |   |   |   | ||||||||||
The effect of the Company’s derivative instruments on the Condensed Consolidated Financial Statements for the three months ended March 31, 2014 and 2013 was as follows: | |||||||||||||
  | Forward Foreign Currency Exchange Contracts | ||||||||||||
  | Three Months Ended March 31, | ||||||||||||
  | 2014 | 2013 | |||||||||||
Derivatives Designated as Hedging Instruments: | Â Â | ||||||||||||
Net gain recognized in Other Comprehensive Income (OCI)Â (1) | Â Â | $ | 1,396 | Â Â | $ | 679 | Â Â | ||||||
Net gain (loss) reclassified from accumulated OCI into income (2) |   | (567 | ) | 320 |   | ||||||||
Net gain (loss) recognized in income (3) |   | (121 | ) | 105 |   | ||||||||
Derivatives Not Designated as Hedging Instruments: | Â Â | ||||||||||||
Net gain recognized in income (4) |   | $ | 56 |   | $ | 901 |   | ||||||
-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 March 31, 2014 and December 31, 2013, accumulated other comprehensive income before taxes associated with forward foreign currency exchange contracts qualifying for hedge accounting treatment was a gain of $1.1 million and a loss of $2.4 million, respectively. | |||||||||||||
The Company is exposed to counterparty credit risk on all of its derivative financial instruments. The Company has established and maintains 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. |
FAIR_VALUE_MEASUREMENTS
FAIR VALUE MEASUREMENTS | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
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 March 31, 2014 | ||||||||||||||||
  | 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 | $ | 137,884 | Â Â | $ | 0 | Â Â | $ | 0 | Â Â | $ | 137,884 | |||||
Money market instruments | Â Â | 0 | Â Â | 501,894 | Â Â | 0 | Â Â | 501,894 | |||||||||
  |   |   |   | ||||||||||||||
Total cash and cash equivalents | Â Â | $ | 137,884 | Â Â | $ | 501,894 | Â Â | $ | 0 | Â Â | $ | 639,778 | |||||
  |   |   |   | ||||||||||||||
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 | $ | 36,207 | Â Â | $ | 0 | Â Â | $ | 36,207 | |||||
Corporate debt securities | Â Â | 0 | Â Â | 158,531 | Â Â | 0 | Â Â | 158,531 | |||||||||
Commercial paper | Â Â | 0 | Â Â | 52,965 | Â Â | 0 | Â Â | 52,965 | |||||||||
Long-term: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Certificates of deposit | Â Â | 0 | Â Â | 16,969 | Â Â | 0 | Â Â | 16,969 | |||||||||
Corporate debt securities | Â Â | 0 | Â Â | 225,400 | Â Â | 0 | Â Â | 225,400 | |||||||||
U.S. Government agency securities | Â Â | 0 | Â Â | 8,902 | Â Â | 0 | Â Â | 8,902 | |||||||||
Greek government-issued bonds | Â Â | 0 | Â Â | 179 | Â Â | 0 | Â Â | 179 | |||||||||
  |   |   |   | ||||||||||||||
Total available-for-sale securities | Â Â | $ | 0 | Â Â | $ | 499,153 | Â Â | $ | 0 | Â Â | $ | 499,153 | |||||
  |   |   |   | ||||||||||||||
Other Current Assets: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan assets | Â Â | $ | 0 | Â Â | $ | 219 | Â Â | $ | 0 | Â Â | $ | 219 | |||||
Forward foreign currency exchange contract assets (1) |   | 0 |   | 38 |   | 0 |   | 38 | |||||||||
Restricted investments (2) | Â Â | 0 | Â Â | 2,350 | Â Â | 0 | Â Â | 2,350 | |||||||||
  |   |   |   | ||||||||||||||
Total other current assets | Â Â | $ | 0 | Â Â | $ | 2,607 | Â Â | $ | 0 | Â Â | $ | 2,607 | |||||
  |   |   |   | ||||||||||||||
Other Assets: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan assets | Â Â | $ | 0 | Â Â | $ | 4,366 | Â Â | $ | 0 | Â Â | $ | 4,366 | |||||
Forward foreign currency exchange contract assets (1) |   | 0 |   | 275 |   | 0 |   | 275 | |||||||||
Strategic investment (3) | Â Â | 15,067 | Â Â | 0 | Â Â | 0 | Â Â | 15,067 | |||||||||
  |   |   |   | ||||||||||||||
Total other assets | Â Â | $ | 15,067 | Â Â | $ | 4,641 | Â Â | $ | 0 | Â Â | $ | 19,708 | |||||
  |   |   |   | ||||||||||||||
Total assets | Â Â | $ | 152,951 | Â Â | $ | 1,008,295 | Â Â | $ | 0 | Â Â | $ | 1,161,246 | |||||
  |   |   |   | ||||||||||||||
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 | $ | 686 | Â Â | $ | 219 | Â Â | $ | 0 | Â Â | $ | 905 | |||||
Forward foreign currency exchange contract liability (1) |   | 0 |   | 1,444 |   | 0 |   | 1,444 | |||||||||
Contingent acquisition consideration payable | Â Â | 0 | Â Â | 0 | Â Â | 12,393 | Â Â | 12,393 | Â Â | ||||||||
  |   |   |   | ||||||||||||||
Total current liabilities | Â Â | $ | 686 | Â Â | $ | 1,663 | Â Â | $ | 12,393 | Â Â | $ | 14,742 | |||||
  |   |   |   | ||||||||||||||
Other long-term liabilities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan liability | Â Â | $ | 11,184 | Â Â | $ | 4,366 | Â Â | $ | 0 | Â Â | $ | 15,550 | |||||
Forward foreign currency exchange contract liability (1) |   | 0 |   | 73 |   | 0 |   | 73 | |||||||||
Contingent acquisition consideration payable | Â Â | 0 | Â Â | 0 | Â Â | 38,430 | Â Â | 38,430 | |||||||||
Asset retirement obligation (ARO) | Â Â | 0 | Â Â | 0 | Â Â | 3,850 | Â Â | 3,850 | |||||||||
  |   |   |   | ||||||||||||||
Total other long-term liabilities | Â Â | $ | 11,184 | Â Â | $ | 4,439 | Â Â | $ | 42,280 | Â Â | $ | 57,903 | |||||
  |   |   |   | ||||||||||||||
Total liabilities | Â Â | $ | 11,870 | Â Â | $ | 6,102 | Â Â | $ | 54,673 | Â Â | $ | 72,645 | |||||
  |   |   |   | ||||||||||||||
  | Fair Value Measurements at December 31, 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 | ||||||||||||||
Cash and cash equivalents: | Â Â | Â Â | Â Â | ||||||||||||||
Overnight deposits | Â Â | $ | 156,228 | Â Â | $ | 0 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 156,228 | |||
Money market instruments | Â Â | 0 | Â Â | 412,553 | Â Â | Â Â | 0 | Â Â | Â Â | 412,553 | |||||||
  |   |   |   | ||||||||||||||
Total cash and cash equivalents | Â Â | $ | 156,228 | Â Â | $ | 412,553 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 568,781 | |||
  |   |   |   | ||||||||||||||
Available-for-sale securities: | Â Â | Â Â | Â Â | ||||||||||||||
Short-term: | Â Â | Â Â | Â Â | ||||||||||||||
Certificates of deposit | Â Â | $ | 0 | Â Â | $ | 30,513 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 30,513 | |||
Corporate debt securities | Â Â | 0 | Â Â | 99,251 | Â Â | Â Â | 0 | Â Â | Â Â | 99,251 | |||||||
Commercial paper | Â Â | 0 | Â Â | 86,178 | Â Â | Â Â | 0 | Â Â | Â Â | 86,178 | |||||||
Long-term: | Â Â | Â Â | Â Â | ||||||||||||||
Certificates of deposit | Â Â | 0 | Â Â | 16,497 | Â Â | Â Â | 0 | Â Â | Â Â | 16,497 | |||||||
Corporate debt securities | Â Â | 0 | Â Â | 242,158 | Â Â | Â Â | 0 | Â Â | Â Â | 242,158 | |||||||
U.S. Government agency securities | Â Â | 0 | Â Â | 8,901 | Â Â | Â Â | 0 | Â Â | Â Â | 8,901 | |||||||
Greek government-issued bonds | Â Â | 0 | Â Â | 144 | Â Â | Â Â | 0 | Â Â | Â Â | 144 | |||||||
  |   |   |   | ||||||||||||||
Total available-for-sale securities | Â Â | $ | 0 | Â Â | $ | 483,642 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 483,642 | |||
  |   |   |   | ||||||||||||||
Other Current Assets: | Â Â | Â Â | Â Â | ||||||||||||||
Nonqualified Deferred Compensation Plan assets | Â Â | $ | 0 | Â Â | $ | 136 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 136 | |||
Forward foreign currency exchange contract assets (1) |   | 0 |   | 59 |   |   | 0 |   |   | 59 | |||||||
Restricted investments (2) | Â Â | 0 | Â Â | 5,670 | Â Â | Â Â | 0 | Â Â | Â Â | 5,670 | |||||||
  |   |   |   | ||||||||||||||
Total other current assets | Â Â | $ | 0 | Â Â | $ | 5,865 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 5,865 | |||
  |   |   |   | ||||||||||||||
Other Assets: | Â Â | Â Â | Â Â | ||||||||||||||
Nonqualified Deferred Compensation Plan assets | Â Â | $ | 0 | Â Â | $ | 3,459 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 3,459 | |||
Restricted investments (2) | Â Â | 0 | Â Â | 412 | Â Â | Â Â | 0 | Â Â | Â Â | 412 | |||||||
Strategic investment (3) | Â Â | 13,000 | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 13,000 | |||||||
  |   |   |   | ||||||||||||||
Total other assets | Â Â | $ | 13,000 | Â Â | $ | 3,871 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 16,871 | |||
  |   |   |   | ||||||||||||||
Total assets | Â Â | $ | 169,228 | Â Â | $ | 905,931 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | Â Â 1,075,159 | |||
  |   |   |   | ||||||||||||||
Liabilities: | Â Â | Â Â | Â Â | ||||||||||||||
Current Liabilities: | Â Â | Â Â | Â Â | ||||||||||||||
Nonqualified Deferred Compensation Plan liability | Â Â | $ | 1,227 | Â Â | $ | 136 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 1,363 | |||
Forward foreign currency exchange contract liability (1) |   | 0 |   | 2,186 |   |   | 0 |   |   | 2,186 | |||||||
Contingent acquisition consideration payable | Â Â | 0 | Â Â | 0 | Â Â | Â Â | 11,882 | Â Â | Â Â | 11,882 | |||||||
  |   |   |   | ||||||||||||||
Total current liabilities | Â Â | $ | 1,227 | Â Â | $ | 2,322 | Â Â | Â Â | $ | 11,882 | Â Â | Â Â | $ | 15,431 | |||
  |   |   |   | ||||||||||||||
Other long-term liabilities: | Â Â | Â Â | Â Â | ||||||||||||||
Nonqualified Deferred Compensation Plan liability | Â Â | $ | 12,345 | Â Â | $ | 3,459 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 15,804 | |||
Contingent acquisition consideration payable | Â Â | 0 | Â Â | 0 | Â Â | Â Â | 30,790 | Â Â | Â Â | 30,790 | |||||||
Asset retirement obligation | Â Â | 0 | Â Â | 0 | Â Â | Â Â | 4,122 | Â Â | Â Â | 4,122 | |||||||
  |   |   |   | ||||||||||||||
Total other long-term liabilities | Â Â | $ | 12,345 | Â Â | $ | 3,459 | Â Â | Â Â | $ | 34,912 | Â Â | Â Â | $ | 50,716 | |||
  |   |   |   | ||||||||||||||
Total liabilities | Â Â | $ | 13,572 | Â Â | $ | 5,781 | Â Â | Â Â | $ | 46,794 | Â Â | Â Â | $ | 66,147 | |||
  |   |   |   | ||||||||||||||
-1 | See Note 13 to these Condensed Consolidated Financial Statements for further information regarding the derivative instruments. | ||||||||||||||||
-2 | The restricted investments at March 31, 2014 secure the Company’s irrevocable standby letter of credit obtained in connection with certain commercial agreements. The restricted investments at December 31, 2013 secure the Company’s irrevocable standby letter of credit obtained in connection with the Company’s SRCC lease and certain commercial agreements. | ||||||||||||||||
-3 | The Company has an investment in marketable equity securities measured using quoted prices in an active market that is considered a strategic investment. See Note 8 to these Condensed Consolidated Financial Statements for additional discussion regarding the Company’s strategic investment. | ||||||||||||||||
There were no transfers between levels during the three months ended March 31, 2014. | |||||||||||||||||
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. See Note 8 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 in the Company’s Condensed Consolidated Statements of Comprehensive Loss. The probability-based income approach used by management to estimate the fair value of the contingent acquisition consideration is most sensitive to changes in the estimated probabilities. | |||||||||||||||||
Contingent acquisition consideration payable at December 31, 2013 |   | $ |  42,672 |   | |||||||||||||
Changes in the fair value of the contingent acquisition consideration payable | Â Â | 8,151 | Â Â | ||||||||||||||
  | |||||||||||||||||
Contingent acquisition consideration payable at March 31, 2014 |   | $ | 50,823 |   | |||||||||||||
  | |||||||||||||||||
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. | |||||||||||||||||
Asset retirement obligations at December 31, 2013 |   | $ |  4,122 |   | |||||||||||||
Accretion | Â Â | 30 | Â Â | ||||||||||||||
Release of SRCC ARO accruals | Â Â | (302 | ) | ||||||||||||||
  | |||||||||||||||||
Asset retirement obligations at March 31, 2014 |   | $ | 3,850 |   | |||||||||||||
  | |||||||||||||||||
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 | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
STOCK-BASED COMPENSATION | ' | ||||||||
(15) STOCK-BASED COMPENSATION | |||||||||
The Company’s stock-based compensation plans include the 2006 Share Incentive Plan and the ESPP and the 2012 Inducement Plan, which expired in May 2013. 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 16 to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, 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 March 31, 2014. 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 March 31, | ||||||||
  | 2014 | 2013 | |||||||
Expected volatility |   | 44 – 45% | 44 | % | |||||
Dividend yield | Â Â | 0.00% | 0 | %Â | |||||
Expected life | Â Â | 6.9Â years | 6.7Â years | Â Â | |||||
Risk-free interest rate |   | 2.1 – 2.3% | 1.1 | % | |||||
During the three months ended March 31, 2014, the Company granted 107,922 options with a weighted average option value of $37.44 per option. | |||||||||
The Company did not grant any new stock purchase rights under the ESPP during the three months ended March 31, 2014. | |||||||||
Restricted Stock Unit Awards with Service-Based Vesting Conditions | |||||||||
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 three months ended March 31, 2014, the Company granted 27,880 RSUs with a weighted average fair market value of $77.33 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 March 31, 2014, these awards provide for a base award of 860,000 RSUs (the 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 the strategic performance goal or goals is probable of achievement. During the fourth quarter of 2013, management concluded that regulatory approval of VIMIZIM was probable and the Company began recognizing compensation expense related to the performance based RSUs allocated to this performance goal. The Company recognized compensation expense of $0.6 million for these awards for the three months ended March 31, 2014. For the three months ended March 31, 2013, the Company did not recognize any expense related to these awards because the Company’s management had not yet determined the goals were probable of achievement. | |||||||||
Compensation expense included in the Company’s Condensed Consolidated Statements of Comprehensive Loss for all stock-based compensation arrangements was as follows: | |||||||||
  | Three Months Ended March 31, | ||||||||
  | 2014 |   | 2013 | ||||||
Cost of sales | Â Â | $ | 1,086 | Â Â | Â Â | $ | 1,044 | Â Â | |
Research and development | Â Â | 7,115 | Â Â | Â Â | 5,324 | Â Â | |||
Selling, general and administrative | Â Â | 8,103 | Â Â | Â Â | 5,197 | Â Â | |||
  |   | ||||||||
Total stock-based compensation expense | Â Â | $ | 16,304 | Â Â | Â Â | $ | 11,565 | Â Â | |
  |   | ||||||||
Stock-based compensation of $2.1 million and $1.0 million was capitalized into inventory, for the three months ended March 31, 2014 and 2013, respectively. Capitalized stock-based compensation is recognized as cost of sales when the related product is sold. |
COMPREHENSIVE_LOSS
COMPREHENSIVE LOSS | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
COMPREHENSIVE LOSS | ' | ||||||||||||
(16) COMPREHENSIVE 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 months ended March 31, 2014 and 2013. | |||||||||||||
  | Amount Reclassified from AOCI | ||||||||||||
(Gain) Loss | |||||||||||||
Three Months Ended March, 31 | |||||||||||||
Details about AOCI Components |   | 2014 | 2013 | Condensed Consolidated Statement of | |||||||||
Comprehensive Loss Classification | |||||||||||||
(Gains) Losses on cash flow hedges: | Â Â | ||||||||||||
Forward foreign currency exchange contracts |   | $ | 887 |   | $ | (472 | ) | Net product revenues | |||||
Forward foreign currency exchange contracts |   | 0 |   | (27 | ) | Selling, general and administrative | |||||||
Income tax effect of the above items |   | (320 | ) | 179 |   | Provision for (benefit from) income taxes | |||||||
  | |||||||||||||
  | $ | 567 |   | $ | (320 | ) | Net loss | ||||||
  | |||||||||||||
The following table summarizes changes in the accumulated balances for each component of AOCI, including current period other comprehensive income and reclassifications out of AOCI, for the three months ended March 31, 2014 and 2013. | |||||||||||||
  | Before | Tax (Expense) | Net-of-Tax | ||||||||||
Tax | Benefit | Amount | |||||||||||
Amount | |||||||||||||
AOCI balance at December 31, 2013 | Â Â | $ | 7,757 | Â Â | $ | (2,739 | )Â | $ | 5,018 | Â Â | |||
  | |||||||||||||
Foreign currency translation adjustment | Â Â | 5 | Â Â | 0 | Â Â | 5 | Â Â | ||||||
  | |||||||||||||
Unrealized gain (loss) on available-for-sale securities | Â Â | ||||||||||||
Unrealized holding gains (loss) | Â Â | 2,244 | Â Â | (821 | )Â | 1,423 | Â Â | ||||||
Less: reclassification adjustment for gain (loss) realized in net loss | Â Â | 0 | Â Â | 0 | Â Â | 0 | Â Â | ||||||
  | |||||||||||||
Net unrealized holding gain (loss) | Â Â | 2,244 | Â Â | (821 | )Â | 1,423 | Â Â | ||||||
  | |||||||||||||
Net unrealized holding gain (loss) on cash flow hedges | Â Â | ||||||||||||
Unrealized holding gain (loss) | Â Â | 2,183 | Â Â | (787 | )Â | 1,396 | Â Â | ||||||
Less: reclassification adjustment for gain (loss) realized in net loss | Â Â | (887 | )Â | 320 | Â Â | (567 | )Â | ||||||
  | |||||||||||||
Net unrealized holding gain (loss) | Â Â | 1,296 | Â Â | (467 | )Â | 829 | Â Â | ||||||
  | |||||||||||||
Other comprehensive income | Â Â | 3,545 | Â Â | (1,288 | )Â | 2,257 | Â Â | ||||||
  | |||||||||||||
AOCI balance at March 31, 2014 | Â Â | $ | 11,302 | Â Â | $ | (4,027 | )Â | $ | 7,275 | Â Â | |||
  | |||||||||||||
  | Before Tax | Tax (Expense) | Net-of-Tax | ||||||||||
Amount | Benefit | Amount | |||||||||||
AOCI balance at December 31, 2012 | Â Â | $ | (222 | )Â | $ | 20 | Â Â | $ | (202 | )Â | |||
  | |||||||||||||
Foreign currency translation adjustment | Â Â | 148 | Â Â | 0 | Â Â | 148 | Â Â | ||||||
  | |||||||||||||
Unrealized gain (loss) on available-for-sale securities | Â Â | ||||||||||||
Unrealized holding gains (loss) | Â Â | 330 | Â Â | (120 | )Â | 210 | Â Â | ||||||
Less: reclassification adjustment for gain (loss) realized in net loss | Â Â | 0 | Â Â | 0 | Â Â | 0 | Â Â | ||||||
  | |||||||||||||
Net unrealized holding gain (loss) | Â Â | 330 | Â Â | (120 | )Â | 210 | Â Â | ||||||
  | |||||||||||||
Net unrealized holding gain (loss) on cash flow hedges | Â Â | ||||||||||||
Unrealized holding gain (loss) | Â Â | 1,062 | Â Â | (383 | )Â | 679 | Â Â | ||||||
Less: reclassification adjustment for gain (loss) realized in net loss | Â Â | 499 | Â Â | (179 | )Â | 320 | Â Â | ||||||
  | |||||||||||||
Net unrealized holding gain (loss) | Â Â | 1,561 | Â Â | (562 | )Â | 999 | Â Â | ||||||
  | |||||||||||||
Other comprehensive income | Â Â | 2,039 | Â Â | (682 | )Â | 1,357 | Â Â | ||||||
  | |||||||||||||
AOCI balance at March 31, 2013 | Â Â | $ | 1,817 | Â Â | $ | (662 | )Â | $ | 1,155 | Â Â | |||
  |
REVENUE_AND_CREDIT_CONCENTRATI
REVENUE AND CREDIT CONCENTRATIONS | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
REVENUE AND CREDIT CONCENTRATIONS | ' | ||||||||||||||||||||
(17) 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 VIMIZIM, Naglazyme, Kuvan and Firdapse and the headquarters for Genzyme Corporation (Genzyme) 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 March 31, | ||||||||||||||||||||
  | 2014 | 2013 | |||||||||||||||||||
Region: | Â Â | ||||||||||||||||||||
United States | Â Â | 47 | %Â | 48 | %Â | ||||||||||||||||
Europe | Â Â | 20 | %Â | 21 | %Â | ||||||||||||||||
Latin America | Â Â | 16 | %Â | 16 | %Â | ||||||||||||||||
Rest of world | Â Â | 17 | %Â | 15 | %Â | ||||||||||||||||
  | |||||||||||||||||||||
Total net product revenue | Â Â | 100 | %Â | 100 | %Â | ||||||||||||||||
  | |||||||||||||||||||||
The following table illustrates the percentage of the Company’s consolidated net product revenue attributed to the Company’s four largest customers. | |||||||||||||||||||||
  | Three Months Ended March 31, | ||||||||||||||||||||
  | 2014 | 2013 | |||||||||||||||||||
Customer A | Â Â | 16 | % | 15 | % | ||||||||||||||||
Customer B (1) | Â Â | 12 | % | 13 | % | ||||||||||||||||
Customer C | Â Â | 11 | % | 13 | % | ||||||||||||||||
Customer D | Â Â | 11 | % | 10 | % | ||||||||||||||||
  | |||||||||||||||||||||
Total | Â Â | 50 | % | 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 March 31, 2014 and December 31, 2013 were comprised of amounts due from customers for net product sales of VIMIZIM, Naglazyme, Kuvan and Firdapse and Aldurazyme product transfer and royalty revenues. On a consolidated basis, the Company’s two largest customers accounted for 40% and 16% of the March 31, 2014 accounts receivable balance, respectively, compared to December 31, 2013 when the two largest customers accounted for 45% and 15% of the accounts receivable balance, respectively. As of March 31, 2014 and December 31, 2013, accounts receivable for the Company’s largest customer balance included $22.2 million and $26.3 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, Greece and Russia, 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. For the three months ended March 31, 2014, approximately 5% of the Company’s net product revenues were from these countries. Additionally, approximately 20% of the Company’s outstanding accounts receivable at March 31, 2014 related to such countries. | |||||||||||||||||||||
The following table summarizes the accounts receivable by country that were past due related to Italy, Spain, Portugal, Greece and Russia, the number of days past due and the total allowance for doubtful accounts related to each of these countries at March 31, 2014. | |||||||||||||||||||||
  | 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 | 1,798 | Â Â | Â Â | 333 | Â Â | Â Â | 46 | Â Â | Â Â | 2,177 | Â Â | Â Â | 0 | Â Â | ||||||
Portugal | Â Â | 467 | Â Â | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 467 | Â Â | Â Â | 0 | Â Â | ||||||
Greece | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 365 | Â Â | Â Â | 365 | Â Â | Â Â | 365 | Â Â | ||||||
Russia | 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 | ||||||
  |   |   |   |   | |||||||||||||||||
Total | Â Â | $ | 2,265 | Â Â | Â Â | $ | 333 | Â Â | Â Â | $ | 411 | Â Â | Â Â | $ | 3,009 | Â Â | Â Â | $ | 365 | Â Â | |
  |   |   |   |   | |||||||||||||||||
The Company also sells its products in other countries that face economic crises and local currency devaluation. Although the Company has historically collected receivables from customers in those countries, sustained weakness or further deterioration of the local economies and currencies may cause customers in those countries to be unable to pay for the Company’s products. 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. |
INCOME_TAXES
INCOME TAXES | 3 Months Ended |
Mar. 31, 2014 | |
INCOME TAXES | ' |
(18) INCOME TAXES | |
The Company has historically computed interim period tax expense by applying its forecasted effective tax rate to year-to-date earnings. However, due to a significant amount of U.S. permanent differences relative to the amount of U.S. forecasted loss used in computing the effective tax rate, the effective tax rate is highly sensitive to minor fluctuations in forecasted income. As such, the Company has computed U.S. tax expense for the three months ended March 31, 2014 using an actual year-to-date tax calculation. Foreign tax expense was computed using a forecasted annual effective tax rate. |
COMMITMENTS_AND_CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Mar. 31, 2014 | |
COMMITMENTS AND CONTINGENCIES | ' |
(19) COMMITMENTS AND CONTINGENCIES | |
The Company is also subject to contingent payments totaling approximately $581.5 million as of March 31, 2014 which are due upon achievement of certain regulatory and licensing milestones if they occur before certain dates in the future. Of this amount, $56.4 million relates to programs that are no longer being developed. | |
In the normal course of business, the Company enters into various firm purchase commitments primarily related to research and development and certain inventory related items. As of March 31, 2014, these commitments for the next five years were approximately $37.4 million. These amounts primarily relate to active pharmaceutical ingredients and represent minimum purchase requirements and post marketing commitments related to the Company’s approved products. |
SIGNIFICANT_ACCOUNTING_POLICIE1
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended |
Mar. 31, 2014 | |
Reclassifications | ' |
Reclassifications | |
Certain items in the Company’s prior year Condensed Consolidated Financial Statements have been reclassified to conform to the current presentation. |
BUSINESS_ACQUISITION_Tables
BUSINESS ACQUISITION (Tables) (San Rafael Corporate Center) | 3 Months Ended | ||||||
Mar. 31, 2014 | |||||||
San Rafael Corporate Center | ' | ||||||
Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed | ' | ||||||
The following table summarizes the estimated fair values of assets acquired as of the date of acquisition: | |||||||
  | Estimated |   | Estimated Useful Lives | ||||
Fair Value | |||||||
Building and improvements | Â Â | $ | 94,414 | Â Â | Â Â | 50 years | |
Land | Â Â | 14,565 | Â Â | Â Â | |||
Land improvements | Â Â | 3,616 | Â Â | Â Â | 10 years | ||
Intangible assets |   | 3,905 |   |   | Remaining lease term | ||
  |   | ||||||
Total identifiable net assets | Â Â | $ | Â Â 116,500 | Â Â | Â Â | ||
  |   | ||||||
Fair Value of Identifiable Intangible Assets Acquired by Asset Class | ' | ||||||
The following table sets forth the fair value of the components of the identifiable intangible assets acquired by asset class: | |||||||
Above market leases | Â Â | $ | 351 | Â Â | |||
In-place leases | Â Â | 3,554 | Â Â | ||||
  | |||||||
Total intangible assets subject to amortization | Â Â | $ | Â Â 3,905 | Â Â | |||
  |
NET_LOSS_PER_COMMON_SHARE_Tabl
NET LOSS PER COMMON SHARE (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Computation of Basic and Diluted Earnings per Common Share | ' | ||||||||
The following table sets forth the computation of basic and diluted earnings per common share: | |||||||||
  | Three Months Ended March 31, | ||||||||
  | 2014 | 2013 | |||||||
Numerator: | Â Â | ||||||||
Net loss, basic | Â Â | $ | (38,115 | ) | $ | (39,810 | ) | ||
Gain on Company common stock issued to the Nonqualified Deferred Compensation Plan | Â Â | (374 | )Â | 0 | Â Â | ||||
  | |||||||||
Net loss, diluted | Â Â | $ | (38,489 | ) | $ | (39,810 | ) | ||
  | |||||||||
Denominator (in thousands of common shares): | Â Â | ||||||||
Basic weighted-average shares outstanding | Â Â | 143,983 | Â Â | 127,969 | Â Â | ||||
Effect of dilutive securities: | Â Â | ||||||||
Common stock issued to the Nonqualified Deferred Compensation Plan | Â Â | 174 | Â Â | 0 | Â Â | ||||
  | |||||||||
Fully diluted weighted-average shares | Â Â | 144,157 | Â Â | 127,969 | Â Â | ||||
  | |||||||||
Basic loss per common share | Â Â | $ | (0.26 | ) | $ | (0.31 | ) | ||
  | |||||||||
Diluted loss per common share | Â Â | $ | (0.27 | ) | $ | (0.31 | ) | ||
  | |||||||||
Schedule Of Anti-Dilutive Common Stock Excluded From Computation of Diluted Net Loss Per Share | ' | ||||||||
In addition to the equity instruments included in the table above, the table below presents potential shares of common stock that were excluded from the computation as they were anti-dilutive using the treasury stock method (in thousands of common shares): | |||||||||
  | Three Months Ended March 31, | ||||||||
  | 2014 |   | 2013 | ||||||
Options to purchase common stock | Â Â | 12,444 | Â Â | Â Â | 12,884 | Â Â | |||
Common stock issuable under the 2017 Notes | Â Â | 3,047 | Â Â | Â Â | 5,396 | Â Â | |||
Common stock issuable under the 2018 Notes and the 2020 Notes | Â Â | 7,966 | Â Â | Â Â | 0 | Â Â | |||
Unvested restricted stock units | Â Â | 1,326 | Â Â | Â Â | 1,375 | Â Â | |||
Potentially issuable common stock for ESPP purchases | Â Â | 209 | Â Â | Â Â | 325 | Â Â | |||
Common stock held by the Nonqualified Deferred Compensation Plan | Â Â | 0 | Â Â | Â Â | 202 | Â Â | |||
  |   | ||||||||
Total number of potentially issuable shares | Â Â | 24,992 | Â Â | Â Â | 20,182 | Â Â | |||
  |   |
INVESTMENTS_Tables
INVESTMENTS (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
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 March 31, 2014 and December 31, 2013 are summarized in the tables below: | |||||||||||||||||
  |   Amortized  |   | Gross |   | Gross | Aggregate | |||||||||||
Cost | Unrealized | Unrealized | Fair Value at | ||||||||||||||
  Holding Gains  |   Holding Losses  |      March 31, 2014     | |||||||||||||||
Certificates of deposit | Â Â | $ | 53,171 | Â Â | Â Â | $ | 5 | Â Â | Â Â | $ | 0 | Â Â | $ | 53,176 | Â Â | ||
Corporate debt securities | Â Â | 383,897 | Â Â | Â Â | 413 | Â Â | Â Â | (379 | )Â | 383,931 | Â Â | ||||||
Commercial paper | Â Â | 52,946 | Â Â | Â Â | 19 | Â Â | Â Â | 0 | Â Â | 52,965 | Â Â | ||||||
U.S. Government agency securities | Â Â | 8,900 | Â Â | Â Â | 2 | Â Â | Â Â | 0 | Â Â | 8,902 | Â Â | ||||||
Greek government-issued bonds | Â Â | 52 | Â Â | Â Â | 127 | Â Â | Â Â | 0 | Â Â | 179 | Â Â | ||||||
  |   |   | |||||||||||||||
Total | Â Â | $ | 498,966 | Â Â | Â Â | $ | 566 | Â Â | Â Â | $ | (379 | )Â | $ | 499,153 | Â Â | ||
  |   |   | |||||||||||||||
  |   Amortized  |   | Gross |   | Gross | Aggregate | |||||||||||
Cost | Unrealized | Unrealized | Fair Value at | ||||||||||||||
  Holding Gains  |   Holding Losses  |   December 31, 2013  | |||||||||||||||
Certificates of deposit | Â Â | $ | 47,008 | Â Â | Â Â | $ | 2 | Â Â | Â Â | $ | 0 | Â Â | $ | 47,010 | Â Â | ||
Corporate debt securities | Â Â | 341,519 | Â Â | Â Â | 313 | Â Â | Â Â | (423 | )Â | 341,409 | Â Â | ||||||
Commercial paper | Â Â | 86,154 | Â Â | Â Â | 24 | Â Â | Â Â | 0 | Â Â | 86,178 | 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 | 52 | Â Â | Â Â | 92 | Â Â | Â Â | 0 | Â Â | 144 | Â Â | ||||||
  |   |   | |||||||||||||||
Total | Â Â | $ | 483,633 | Â Â | Â Â | $ | 432 | Â Â | Â Â | $ | (423 | )Â | $ | 483,642 | Â Â | ||
  |   |   | |||||||||||||||
Fair Values of Available-For-Sale Securities by Contractual Maturity | ' | ||||||||||||||||
The fair values of available-for-sale securities by contractual maturity were as follows: | |||||||||||||||||
  |    March 31,   |   | December 31, | ||||||||||||||
2014 | 2013 | ||||||||||||||||
Maturing in one year or less | Â Â | $ | 247,703 | Â Â | Â Â | $ | 215,942 | Â Â | |||||||||
Maturing after one year through three years | Â Â | 251,450 | Â Â | Â Â | 267,700 | Â Â | |||||||||||
  |   | ||||||||||||||||
Total | Â Â | $ | 499,153 | Â Â | Â Â | $ | 483,642 | Â Â | |||||||||
  |   |
INTANGIBLE_ASSETS_Tables
INTANGIBLE ASSETS (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Schedule of Intangible Assets | ' | ||||||||
Intangible assets consisted of the following: | |||||||||
  |    March 31,   | December 31, | |||||||
2014 | 2013 | ||||||||
Intangible assets: | Â Â | ||||||||
Finite-lived intangible assets | Â Â | $ | 123,147 | Â Â | $ | 118,242 | Â Â | ||
Indefinite-lived intangible assets | Â Â | 74,430 | Â Â | 74,430 | Â Â | ||||
  | |||||||||
Gross intangible assets: | Â Â | 197,577 | Â Â | 192,672 | Â Â | ||||
Less: Accumulated amortization | Â Â | (32,180 | )Â | (29,525 | )Â | ||||
  | |||||||||
Net carrying value | Â Â | $ | 165,397 | Â Â | $ | 163,147 | Â Â | ||
  |
PROPERTY_PLANT_AND_EQUIPMENT_T
PROPERTY, PLANT AND EQUIPMENT (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Schedule of Property Plant and Equipment Net | ' | ||||||||
Property, plant and equipment, net consisted of the following: | |||||||||
  |    March 31,   | December 31, | |||||||
2014 | 2013 | ||||||||
Leasehold improvements | Â Â | $ | 58,527 | Â Â | $ | 73,973 | Â Â | ||
Building and improvements | Â Â | 270,441 | Â Â | 159,125 | Â Â | ||||
Manufacturing and laboratory equipment | Â Â | 99,978 | Â Â | 95,126 | Â Â | ||||
Computer hardware and software | Â Â | 78,729 | Â Â | 74,948 | Â Â | ||||
Furniture and equipment | Â Â | 12,661 | Â Â | 12,367 | Â Â | ||||
Land improvements | Â Â | 3,616 | Â Â | 0 | Â Â | ||||
Land | Â Â | 26,145 | Â Â | 11,608 | Â Â | ||||
Construction-in-progress | Â Â | 81,559 | Â Â | 77,212 | Â Â | ||||
  | |||||||||
  | 631,656 |   | 504,359 |   | |||||
Less: Accumulated depreciation | Â Â | (194,590 | )Â | (185,043 | )Â | ||||
  | |||||||||
Total property, plant and equipment, net | Â Â | $ | 437,066 | Â Â | $ | 319,316 | Â Â | ||
  |
SUPPLEMENTAL_BALANCE_SHEET_INF1
SUPPLEMENTAL BALANCE SHEET INFORMATION (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Schedule of Inventory | ' | ||||||||
Inventory consisted of the following: | |||||||||
  |    March 31,   |   | December 31, | ||||||
2014 | 2013 | ||||||||
Raw materials | Â Â | $ | 14,491 | Â Â | Â Â | $ | 15,309 | Â Â | |
Work-in-process | Â Â | 105,663 | Â Â | Â Â | 88,417 | Â Â | |||
Finished goods | Â Â | 56,739 | Â Â | Â Â | 58,879 | Â Â | |||
  |   | ||||||||
Total inventory | Â Â | $ | 176,893 | Â Â | Â Â | $ | 162,605 | Â Â | |
  |   | ||||||||
Schedule of Other Assets | ' | ||||||||
Other Assets consisted of the following: | |||||||||
  |    March 31,   |   | December 31, | ||||||
2014 | 2013 | ||||||||
Deposits | Â Â | $ | 7,239 | Â Â | Â Â | $ | 7,196 | Â Â | |
Escrow balance for SRCC purchase | Â Â | 0 | Â Â | Â Â | 116,500 | Â Â | |||
Deferred offering costs | Â Â | 14,364 | Â Â | Â Â | 15,374 | Â Â | |||
Strategic investment | Â Â | 15,067 | Â Â | Â Â | 13,000 | Â Â | |||
Other | Â Â | 4,875 | Â Â | Â Â | 4,101 | Â Â | |||
  |   | ||||||||
Total other assets | Â Â | $ | 41,545 | Â Â | Â Â | $ | 156,171 | Â Â | |
  |   | ||||||||
Schedule of Accounts Payable and Accrued Liabilities | ' | ||||||||
Accounts payable and accrued liabilities consisted of the following: | |||||||||
  |    March 31,   |   | December 31, | ||||||
2014 | 2013 | ||||||||
Accounts payable | Â Â | $ | 15,328 | Â Â | Â Â | $ | 36,894 | Â Â | |
Accrued accounts payable | Â Â | 64,395 | Â Â | Â Â | 58,408 | Â Â | |||
Accrued compensation expense | Â Â | 22,006 | Â Â | Â Â | 33,496 | Â Â | |||
Accrued vacation expense | Â Â | 12,210 | Â Â | Â Â | 10,487 | Â Â | |||
Current portion of contingent acquisition consideration payable | Â Â | 12,393 | Â Â | Â Â | 11,882 | Â Â | |||
Accrued rebates payable | Â Â | 10,763 | Â Â | Â Â | 10,429 | Â Â | |||
Accrued royalties payable | Â Â | 4,670 | Â Â | Â Â | 5,829 | Â Â | |||
Value added taxes payable | Â Â | 3,504 | Â Â | Â Â | 3,603 | Â Â | |||
Other accrued operating expenses | Â Â | 3,822 | Â Â | Â Â | 4,875 | Â Â | |||
Current portion of nonqualified deferred compensation liability | Â Â | 905 | Â Â | Â Â | 1,363 | Â Â | |||
Other | Â Â | 6,042 | Â Â | Â Â | 6,005 | Â Â | |||
  |   | ||||||||
Total accounts payable and accrued liabilities | Â Â | $ | 156,038 | Â Â | Â Â | $ | 183,271 | Â Â | |
  |   |
CONVERTIBLE_DEBT_Tables
CONVERTIBLE DEBT (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Summary Of Convertible Debt | ' | ||||||||
The following table summarizes information regarding the Company’s convertible debt: | |||||||||
  |    March 31,   |   | December 31, | ||||||
2014 | 2013 | ||||||||
Convertible Notes due 2020, net of unamortized discount of $85,301 and $87,975, respectively | Â Â | $ | 289,699 | Â Â | Â Â | $ | 287,025 | Â Â | |
Convertible Notes due 2018, net of unamortized discount of $65,320 and $68,500, respectively | Â Â | 309,680 | Â Â | Â Â | 306,500 | Â Â | |||
Convertible Notes due 2017 | Â Â | 62,040 | Â Â | Â Â | 62,041 | Â Â | |||
  |   | ||||||||
Total long-term convertible debt, net of unamortized discount | Â Â | $ | 661,419 | Â Â | Â Â | $ | 655,566 | Â Â | |
  |   | ||||||||
Fair value of fixed rate convertible debt | Â Â | Â Â | |||||||
Convertible Notes due in 2020 (1) | Â Â | $ | 416,618 | Â Â | Â Â | $ | 400,879 | Â Â | |
Convertible Notes due in 2018 (1) | Â Â | 411,742 | Â Â | Â Â | 397,691 | Â Â | |||
Convertible Notes due in 2017 (1) | Â Â | 207,577 | Â Â | Â Â | 213,765 | Â Â | |||
  |   | ||||||||
Total | Â Â | $ | 1,035,937 | Â Â | Â Â | $ | 1,012,335 | Â Â | |
  |   | ||||||||
-1 | The fair value of the Company’s fixed rate convertible debt is based on open market trades and is classified as Level 1 in the fair value hierarchy. | ||||||||
Summary Of Convertible Debt Interest Expense | ' | ||||||||
Interest expense on the Company’s convertible debt was comprised of the following: | |||||||||
  | Three Months Ended March, 31 | ||||||||
  | 2014 |   | 2013 | ||||||
Coupon interest | Â Â | $ | 2,408 | Â Â | Â Â | $ | 1,509 | Â Â | |
Amortization of issuance costs | Â Â | 843 | Â Â | Â Â | 216 | Â Â | |||
Accretion of debt discount | Â Â | 5,855 | Â Â | Â Â | 0 | Â Â | |||
  |   | ||||||||
Total interest expense on convertible debt | Â Â | $ | 9,106 | Â Â | Â Â | $ | 1,725 | Â Â | |
  |   |
DERIVATIVE_INSTRUMENTS_AND_HED1
DERIVATIVE INSTRUMENTS AND HEDGING STRATEGIES (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
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 | ||||||||||
March 31, 2014 | March 31, 2014 | ||||||||||||
  | 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 |   | $ | 38 |   |   | Accounts payable and |   | $ | 1,329 |   | |
accrued liabilities | |||||||||||||
Forward foreign currency exchange contracts |   | Other assets |   | 275 |   |   | Other long-term liabilities |   | 73 |   | |||
  |   |   |   | ||||||||||
Total | Â Â | Â Â | $ | 313 | Â Â | Â Â | Â Â | $ | 1,402 | 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 |   | $ | 115 |   | |
accrued liabilities | |||||||||||||
  |   |   |   | ||||||||||
Total | Â Â | Â Â | 0 | Â Â | Â Â | Â Â | 115 | Â Â | |||||
  |   |   |   | ||||||||||
Total value of derivative contracts | Â Â | Â Â | $ | 313 | Â Â | Â Â | Â Â | $ | 1,517 | Â Â | |||
  |   |   |   | ||||||||||
  | Asset Derivatives |   | Liability Derivatives | ||||||||||
December 31, 2013 | December 31, 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 |   | $ | 2,186 |   | |
accrued liabilities | |||||||||||||
Forward foreign currency exchange contracts |   | Other assets |   | 0 |   |   | Other long-term liabilities |   | 0 |   | |||
  |   |   |   | ||||||||||
Total | Â Â | Â Â | $ | 0 | Â Â | Â Â | Â Â | $ | 2,186 | Â Â | |||
  |   |   |   | ||||||||||
Derivatives not designated as hedging instruments: | Â Â | Â Â | Â Â | Â Â | |||||||||
Forward foreign currency exchange contracts |   | Other current assets |   | $ | 59 |   |   | Accounts payable and |   | $ | 0 |   | |
accrued liabilities | |||||||||||||
  |   |   |   | ||||||||||
Total | Â Â | Â Â | 59 | Â Â | Â Â | Â Â | 0 | Â Â | |||||
  |   |   |   | ||||||||||
Total value of derivative contracts | Â Â | Â Â | $ | 59 | Â Â | Â Â | Â Â | $ | 2,186 | Â Â | |||
  |   |   |   | ||||||||||
Effect of Derivative Instruments | ' | ||||||||||||
The effect of the Company’s derivative instruments on the Condensed Consolidated Financial Statements for the three months ended March 31, 2014 and 2013 was as follows: | |||||||||||||
  | Forward Foreign Currency Exchange Contracts | ||||||||||||
  | Three Months Ended March 31, | ||||||||||||
  | 2014 | 2013 | |||||||||||
Derivatives Designated as Hedging Instruments: | Â Â | ||||||||||||
Net gain recognized in Other Comprehensive Income (OCI)Â (1) | Â Â | $ | 1,396 | Â Â | $ | 679 | Â Â | ||||||
Net gain (loss) reclassified from accumulated OCI into income (2) |   | (567 | ) | 320 |   | ||||||||
Net gain (loss) recognized in income (3) |   | (121 | ) | 105 |   | ||||||||
Derivatives Not Designated as Hedging Instruments: | Â Â | ||||||||||||
Net gain recognized in income (4) |   | $ | 56 |   | $ | 901 |   | ||||||
-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. |
FAIR_VALUE_MEASUREMENTS_Tables
FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
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 March 31, 2014 | ||||||||||||||||
  | 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 | $ | 137,884 | Â Â | $ | 0 | Â Â | $ | 0 | Â Â | $ | 137,884 | |||||
Money market instruments | Â Â | 0 | Â Â | 501,894 | Â Â | 0 | Â Â | 501,894 | |||||||||
  |   |   |   | ||||||||||||||
Total cash and cash equivalents | Â Â | $ | 137,884 | Â Â | $ | 501,894 | Â Â | $ | 0 | Â Â | $ | 639,778 | |||||
  |   |   |   | ||||||||||||||
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 | $ | 36,207 | Â Â | $ | 0 | Â Â | $ | 36,207 | |||||
Corporate debt securities | Â Â | 0 | Â Â | 158,531 | Â Â | 0 | Â Â | 158,531 | |||||||||
Commercial paper | Â Â | 0 | Â Â | 52,965 | Â Â | 0 | Â Â | 52,965 | |||||||||
Long-term: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Certificates of deposit | Â Â | 0 | Â Â | 16,969 | Â Â | 0 | Â Â | 16,969 | |||||||||
Corporate debt securities | Â Â | 0 | Â Â | 225,400 | Â Â | 0 | Â Â | 225,400 | |||||||||
U.S. Government agency securities | Â Â | 0 | Â Â | 8,902 | Â Â | 0 | Â Â | 8,902 | |||||||||
Greek government-issued bonds | Â Â | 0 | Â Â | 179 | Â Â | 0 | Â Â | 179 | |||||||||
  |   |   |   | ||||||||||||||
Total available-for-sale securities | Â Â | $ | 0 | Â Â | $ | 499,153 | Â Â | $ | 0 | Â Â | $ | 499,153 | |||||
  |   |   |   | ||||||||||||||
Other Current Assets: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan assets | Â Â | $ | 0 | Â Â | $ | 219 | Â Â | $ | 0 | Â Â | $ | 219 | |||||
Forward foreign currency exchange contract assets (1) |   | 0 |   | 38 |   | 0 |   | 38 | |||||||||
Restricted investments (2) | Â Â | 0 | Â Â | 2,350 | Â Â | 0 | Â Â | 2,350 | |||||||||
  |   |   |   | ||||||||||||||
Total other current assets | Â Â | $ | 0 | Â Â | $ | 2,607 | Â Â | $ | 0 | Â Â | $ | 2,607 | |||||
  |   |   |   | ||||||||||||||
Other Assets: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan assets | Â Â | $ | 0 | Â Â | $ | 4,366 | Â Â | $ | 0 | Â Â | $ | 4,366 | |||||
Forward foreign currency exchange contract assets (1) |   | 0 |   | 275 |   | 0 |   | 275 | |||||||||
Strategic investment (3) | Â Â | 15,067 | Â Â | 0 | Â Â | 0 | Â Â | 15,067 | |||||||||
  |   |   |   | ||||||||||||||
Total other assets | Â Â | $ | 15,067 | Â Â | $ | 4,641 | Â Â | $ | 0 | Â Â | $ | 19,708 | |||||
  |   |   |   | ||||||||||||||
Total assets | Â Â | $ | 152,951 | Â Â | $ | 1,008,295 | Â Â | $ | 0 | Â Â | $ | 1,161,246 | |||||
  |   |   |   | ||||||||||||||
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 | $ | 686 | Â Â | $ | 219 | Â Â | $ | 0 | Â Â | $ | 905 | |||||
Forward foreign currency exchange contract liability (1) |   | 0 |   | 1,444 |   | 0 |   | 1,444 | |||||||||
Contingent acquisition consideration payable | Â Â | 0 | Â Â | 0 | Â Â | 12,393 | Â Â | 12,393 | Â Â | ||||||||
  |   |   |   | ||||||||||||||
Total current liabilities | Â Â | $ | 686 | Â Â | $ | 1,663 | Â Â | $ | 12,393 | Â Â | $ | 14,742 | |||||
  |   |   |   | ||||||||||||||
Other long-term liabilities: | Â Â | Â Â | Â Â | Â Â | |||||||||||||
Nonqualified Deferred Compensation Plan liability | Â Â | $ | 11,184 | Â Â | $ | 4,366 | Â Â | $ | 0 | Â Â | $ | 15,550 | |||||
Forward foreign currency exchange contract liability (1) |   | 0 |   | 73 |   | 0 |   | 73 | |||||||||
Contingent acquisition consideration payable | Â Â | 0 | Â Â | 0 | Â Â | 38,430 | Â Â | 38,430 | |||||||||
Asset retirement obligation (ARO) | Â Â | 0 | Â Â | 0 | Â Â | 3,850 | Â Â | 3,850 | |||||||||
  |   |   |   | ||||||||||||||
Total other long-term liabilities | Â Â | $ | 11,184 | Â Â | $ | 4,439 | Â Â | $ | 42,280 | Â Â | $ | 57,903 | |||||
  |   |   |   | ||||||||||||||
Total liabilities | Â Â | $ | 11,870 | Â Â | $ | 6,102 | Â Â | $ | 54,673 | Â Â | $ | 72,645 | |||||
  |   |   |   | ||||||||||||||
  | Fair Value Measurements at December 31, 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 | ||||||||||||||
Cash and cash equivalents: | Â Â | Â Â | Â Â | ||||||||||||||
Overnight deposits | Â Â | $ | 156,228 | Â Â | $ | 0 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 156,228 | |||
Money market instruments | Â Â | 0 | Â Â | 412,553 | Â Â | Â Â | 0 | Â Â | Â Â | 412,553 | |||||||
  |   |   |   | ||||||||||||||
Total cash and cash equivalents | Â Â | $ | 156,228 | Â Â | $ | 412,553 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 568,781 | |||
  |   |   |   | ||||||||||||||
Available-for-sale securities: | Â Â | Â Â | Â Â | ||||||||||||||
Short-term: | Â Â | Â Â | Â Â | ||||||||||||||
Certificates of deposit | Â Â | $ | 0 | Â Â | $ | 30,513 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 30,513 | |||
Corporate debt securities | Â Â | 0 | Â Â | 99,251 | Â Â | Â Â | 0 | Â Â | Â Â | 99,251 | |||||||
Commercial paper | Â Â | 0 | Â Â | 86,178 | Â Â | Â Â | 0 | Â Â | Â Â | 86,178 | |||||||
Long-term: | Â Â | Â Â | Â Â | ||||||||||||||
Certificates of deposit | Â Â | 0 | Â Â | 16,497 | Â Â | Â Â | 0 | Â Â | Â Â | 16,497 | |||||||
Corporate debt securities | Â Â | 0 | Â Â | 242,158 | Â Â | Â Â | 0 | Â Â | Â Â | 242,158 | |||||||
U.S. Government agency securities | Â Â | 0 | Â Â | 8,901 | Â Â | Â Â | 0 | Â Â | Â Â | 8,901 | |||||||
Greek government-issued bonds | Â Â | 0 | Â Â | 144 | Â Â | Â Â | 0 | Â Â | Â Â | 144 | |||||||
  |   |   |   | ||||||||||||||
Total available-for-sale securities | Â Â | $ | 0 | Â Â | $ | 483,642 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 483,642 | |||
  |   |   |   | ||||||||||||||
Other Current Assets: | Â Â | Â Â | Â Â | ||||||||||||||
Nonqualified Deferred Compensation Plan assets | Â Â | $ | 0 | Â Â | $ | 136 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 136 | |||
Forward foreign currency exchange contract assets (1) |   | 0 |   | 59 |   |   | 0 |   |   | 59 | |||||||
Restricted investments (2) | Â Â | 0 | Â Â | 5,670 | Â Â | Â Â | 0 | Â Â | Â Â | 5,670 | |||||||
  |   |   |   | ||||||||||||||
Total other current assets | Â Â | $ | 0 | Â Â | $ | 5,865 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 5,865 | |||
  |   |   |   | ||||||||||||||
Other Assets: | Â Â | Â Â | Â Â | ||||||||||||||
Nonqualified Deferred Compensation Plan assets | Â Â | $ | 0 | Â Â | $ | 3,459 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 3,459 | |||
Restricted investments (2) | Â Â | 0 | Â Â | 412 | Â Â | Â Â | 0 | Â Â | Â Â | 412 | |||||||
Strategic investment (3) | Â Â | 13,000 | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 13,000 | |||||||
  |   |   |   | ||||||||||||||
Total other assets | Â Â | $ | 13,000 | Â Â | $ | 3,871 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 16,871 | |||
  |   |   |   | ||||||||||||||
Total assets | Â Â | $ | 169,228 | Â Â | $ | 905,931 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | Â Â 1,075,159 | |||
  |   |   |   | ||||||||||||||
Liabilities: | Â Â | Â Â | Â Â | ||||||||||||||
Current Liabilities: | Â Â | Â Â | Â Â | ||||||||||||||
Nonqualified Deferred Compensation Plan liability | Â Â | $ | 1,227 | Â Â | $ | 136 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 1,363 | |||
Forward foreign currency exchange contract liability (1) |   | 0 |   | 2,186 |   |   | 0 |   |   | 2,186 | |||||||
Contingent acquisition consideration payable | Â Â | 0 | Â Â | 0 | Â Â | Â Â | 11,882 | Â Â | Â Â | 11,882 | |||||||
  |   |   |   | ||||||||||||||
Total current liabilities | Â Â | $ | 1,227 | Â Â | $ | 2,322 | Â Â | Â Â | $ | 11,882 | Â Â | Â Â | $ | 15,431 | |||
  |   |   |   | ||||||||||||||
Other long-term liabilities: | Â Â | Â Â | Â Â | ||||||||||||||
Nonqualified Deferred Compensation Plan liability | Â Â | $ | 12,345 | Â Â | $ | 3,459 | Â Â | Â Â | $ | 0 | Â Â | Â Â | $ | 15,804 | |||
Contingent acquisition consideration payable | Â Â | 0 | Â Â | 0 | Â Â | Â Â | 30,790 | Â Â | Â Â | 30,790 | |||||||
Asset retirement obligation | Â Â | 0 | Â Â | 0 | Â Â | Â Â | 4,122 | Â Â | Â Â | 4,122 | |||||||
  |   |   |   | ||||||||||||||
Total other long-term liabilities | Â Â | $ | 12,345 | Â Â | $ | 3,459 | Â Â | Â Â | $ | 34,912 | Â Â | Â Â | $ | 50,716 | |||
  |   |   |   | ||||||||||||||
Total liabilities | Â Â | $ | 13,572 | Â Â | $ | 5,781 | Â Â | Â Â | $ | 46,794 | Â Â | Â Â | $ | 66,147 | |||
  |   |   |   | ||||||||||||||
-1 | See Note 13 to these Condensed Consolidated Financial Statements for further information regarding the derivative instruments. | ||||||||||||||||
-2 | The restricted investments at March 31, 2014 secure the Company’s irrevocable standby letter of credit obtained in connection with certain commercial agreements. The restricted investments at December 31, 2013 secure the Company’s irrevocable standby letter of credit obtained in connection with the Company’s SRCC lease and certain commercial agreements. | ||||||||||||||||
-3 | The Company has an investment in marketable equity securities measured using quoted prices in an active market that is considered a strategic investment. See Note 8 to these Condensed Consolidated Financial Statements for additional discussion regarding the Company’s strategic investment. | ||||||||||||||||
Liabilities Measured at Fair Value Using Level 3 Inputs | ' | ||||||||||||||||
Contingent acquisition consideration payable at December 31, 2013 |   | $ |  42,672 |   | |||||||||||||
Changes in the fair value of the contingent acquisition consideration payable | Â Â | 8,151 | Â Â | ||||||||||||||
  | |||||||||||||||||
Contingent acquisition consideration payable at March 31, 2014 |   | $ | 50,823 |   | |||||||||||||
  | |||||||||||||||||
Asset Retirement Obligation Liability and Corresponding Capital Asset | ' | ||||||||||||||||
Asset retirement obligations at December 31, 2013 |   | $ |  4,122 |   | |||||||||||||
Accretion | Â Â | 30 | Â Â | ||||||||||||||
Release of SRCC ARO accruals | Â Â | (302 | ) | ||||||||||||||
  | |||||||||||||||||
Asset retirement obligations at March 31, 2014 |   | $ | 3,850 |   | |||||||||||||
  |
STOCKBASED_COMPENSATION_Tables
STOCK-BASED COMPENSATION (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
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 March 31, | ||||||||
  | 2014 | 2013 | |||||||
Expected volatility |   | 44 – 45% | 44 | % | |||||
Dividend yield | Â Â | 0.00% | 0 | %Â | |||||
Expected life | Â Â | 6.9Â years | 6.7Â years | Â Â | |||||
Risk-free interest rate |   | 2.1 – 2.3% | 1.1 | % | |||||
Stock-Based Compensation Expense | ' | ||||||||
Compensation expense included in the Company’s Condensed Consolidated Statements of Comprehensive Loss for all stock-based compensation arrangements was as follows: | |||||||||
  | Three Months Ended March 31, | ||||||||
  | 2014 |   | 2013 | ||||||
Cost of sales | Â Â | $ | 1,086 | Â Â | Â Â | $ | 1,044 | Â Â | |
Research and development | Â Â | 7,115 | Â Â | Â Â | 5,324 | Â Â | |||
Selling, general and administrative | Â Â | 8,103 | Â Â | Â Â | 5,197 | Â Â | |||
  |   | ||||||||
Total stock-based compensation expense | Â Â | $ | 16,304 | Â Â | Â Â | $ | 11,565 | Â Â | |
  |   |
COMPREHENSIVE_LOSS_Tables
COMPREHENSIVE LOSS (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Amounts Reclassified out of Accumulated Other Comprehensive Income (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 months ended March 31, 2014 and 2013. | |||||||||||||
  | Amount Reclassified from AOCI | ||||||||||||
(Gain) Loss | |||||||||||||
Three Months Ended March, 31 | |||||||||||||
Details about AOCI Components |   | 2014 | 2013 | Condensed Consolidated Statement of | |||||||||
Comprehensive Loss Classification | |||||||||||||
(Gains) Losses on cash flow hedges: | Â Â | ||||||||||||
Forward foreign currency exchange contracts |   | $ | 887 |   | $ | (472 | ) | Net product revenues | |||||
Forward foreign currency exchange contracts |   | 0 |   | (27 | ) | Selling, general and administrative | |||||||
Income tax effect of the above items |   | (320 | ) | 179 |   | Provision for (benefit from) income taxes | |||||||
  | |||||||||||||
  | $ | 567 |   | $ | (320 | ) | 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 AOCI, including current period other comprehensive income and reclassifications out of AOCI, for the three months ended March 31, 2014 and 2013. | |||||||||||||
  | Before | Tax (Expense) | Net-of-Tax | ||||||||||
Tax | Benefit | Amount | |||||||||||
Amount | |||||||||||||
AOCI balance at December 31, 2013 | Â Â | $ | 7,757 | Â Â | $ | (2,739 | )Â | $ | 5,018 | Â Â | |||
  | |||||||||||||
Foreign currency translation adjustment | Â Â | 5 | Â Â | 0 | Â Â | 5 | Â Â | ||||||
  | |||||||||||||
Unrealized gain (loss) on available-for-sale securities | Â Â | ||||||||||||
Unrealized holding gains (loss) | Â Â | 2,244 | Â Â | (821 | )Â | 1,423 | Â Â | ||||||
Less: reclassification adjustment for gain (loss) realized in net loss | Â Â | 0 | Â Â | 0 | Â Â | 0 | Â Â | ||||||
  | |||||||||||||
Net unrealized holding gain (loss) | Â Â | 2,244 | Â Â | (821 | )Â | 1,423 | Â Â | ||||||
  | |||||||||||||
Net unrealized holding gain (loss) on cash flow hedges | Â Â | ||||||||||||
Unrealized holding gain (loss) | Â Â | 2,183 | Â Â | (787 | )Â | 1,396 | Â Â | ||||||
Less: reclassification adjustment for gain (loss) realized in net loss | Â Â | (887 | )Â | 320 | Â Â | (567 | )Â | ||||||
  | |||||||||||||
Net unrealized holding gain (loss) | Â Â | 1,296 | Â Â | (467 | )Â | 829 | Â Â | ||||||
  | |||||||||||||
Other comprehensive income | Â Â | 3,545 | Â Â | (1,288 | )Â | 2,257 | Â Â | ||||||
  | |||||||||||||
AOCI balance at March 31, 2014 | Â Â | $ | 11,302 | Â Â | $ | (4,027 | )Â | $ | 7,275 | Â Â | |||
  | |||||||||||||
  | Before Tax | Tax (Expense) | Net-of-Tax | ||||||||||
Amount | Benefit | Amount | |||||||||||
AOCI balance at December 31, 2012 | Â Â | $ | (222 | )Â | $ | 20 | Â Â | $ | (202 | )Â | |||
  | |||||||||||||
Foreign currency translation adjustment | Â Â | 148 | Â Â | 0 | Â Â | 148 | Â Â | ||||||
  | |||||||||||||
Unrealized gain (loss) on available-for-sale securities | Â Â | ||||||||||||
Unrealized holding gains (loss) | Â Â | 330 | Â Â | (120 | )Â | 210 | Â Â | ||||||
Less: reclassification adjustment for gain (loss) realized in net loss | Â Â | 0 | Â Â | 0 | Â Â | 0 | Â Â | ||||||
  | |||||||||||||
Net unrealized holding gain (loss) | Â Â | 330 | Â Â | (120 | )Â | 210 | Â Â | ||||||
  | |||||||||||||
Net unrealized holding gain (loss) on cash flow hedges | Â Â | ||||||||||||
Unrealized holding gain (loss) | Â Â | 1,062 | Â Â | (383 | )Â | 679 | Â Â | ||||||
Less: reclassification adjustment for gain (loss) realized in net loss | Â Â | 499 | Â Â | (179 | )Â | 320 | Â Â | ||||||
  | |||||||||||||
Net unrealized holding gain (loss) | Â Â | 1,561 | Â Â | (562 | )Â | 999 | Â Â | ||||||
  | |||||||||||||
Other comprehensive income | Â Â | 2,039 | Â Â | (682 | )Â | 1,357 | Â Â | ||||||
  | |||||||||||||
AOCI balance at March 31, 2013 | Â Â | $ | 1,817 | Â Â | $ | (662 | )Â | $ | 1,155 | Â Â | |||
  |
REVENUE_AND_CREDIT_CONCENTRATI1
REVENUE AND CREDIT CONCENTRATIONS (Tables) | 3 Months Ended | ||||||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||||||
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, Greece and Russia, the number of days past due and the total allowance for doubtful accounts related to each of these countries at March 31, 2014. | |||||||||||||||||||||
  | 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 | 1,798 | Â Â | Â Â | 333 | Â Â | Â Â | 46 | Â Â | Â Â | 2,177 | Â Â | Â Â | 0 | Â Â | ||||||
Portugal | Â Â | 467 | Â Â | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 467 | Â Â | Â Â | 0 | Â Â | ||||||
Greece | Â Â | 0 | Â Â | Â Â | 0 | Â Â | Â Â | 365 | Â Â | Â Â | 365 | Â Â | Â Â | 365 | Â Â | ||||||
Russia | 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 | ||||||
  |   |   |   |   | |||||||||||||||||
Total | Â Â | $ | 2,265 | Â Â | Â Â | $ | 333 | Â Â | Â Â | $ | 411 | Â Â | Â Â | $ | 3,009 | Â Â | Â Â | $ | 365 | 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 VIMIZIM, Naglazyme, Kuvan and Firdapse and the headquarters for Genzyme Corporation (Genzyme) 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 March 31, | ||||||||||||||||||||
  | 2014 | 2013 | |||||||||||||||||||
Region: | Â Â | ||||||||||||||||||||
United States | Â Â | 47 | %Â | 48 | %Â | ||||||||||||||||
Europe | Â Â | 20 | %Â | 21 | %Â | ||||||||||||||||
Latin America | Â Â | 16 | %Â | 16 | %Â | ||||||||||||||||
Rest of world | Â Â | 17 | %Â | 15 | %Â | ||||||||||||||||
  | |||||||||||||||||||||
Total net product revenue | Â 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 Company’s consolidated net product revenue attributed to the Company’s four largest customers. | |||||||||||||||||||||
  | Three Months Ended March 31, | ||||||||||||||||||||
  | 2014 | 2013 | |||||||||||||||||||
Customer A | Â Â | 16 | % | 15 | % | ||||||||||||||||
Customer B (1) | Â Â | 12 | % | 13 | % | ||||||||||||||||
Customer C | Â Â | 11 | % | 13 | % | ||||||||||||||||
Customer D | Â Â | 11 | % | 10 | % | ||||||||||||||||
  | |||||||||||||||||||||
Total | Â Â | 50 | % | 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 $) | Mar. 31, 2014 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Nature Of Operations [Line Items] | ' | ' | |
Accumulated losses | ($753,916) | ($715,801) | [1] |
[1] | December 31, 2013 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, 2013, filed with the Securities and Exchange Commission (the SEC) on February 26, 2014. |
Acquisition_of_San_Rafael_Corp
Acquisition of San Rafael Corporate Center - Additional Information (Detail) (USD $) | 3 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | ||
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 10, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | |
San Rafael Corporate Center | San Rafael Corporate Center | San Rafael Corporate Center | San Rafael Corporate Center | San Rafael Corporate Center | San Rafael Corporate Center | |||
Royalty, License and Other Revenues | Selling, General and Administrative | Research and Development | ||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition, purchase price | ' | ' | $116,500,000 | ' | ' | ' | ' | ' |
Business acquisition, cash paid | ' | ' | 116,500,000 | ' | ' | ' | ' | ' |
Tenant revenue | ' | ' | ' | ' | ' | 400,000 | ' | ' |
Tenant net income | ' | ' | ' | 300,000 | ' | ' | ' | ' |
Business combination transaction costs | ' | ' | ' | ' | ' | ' | 200,000 | ' |
Net gain recognized due to early termination of lease and realization of remaining balance in deferred rent and reversal of asset retirement obligation | $8,858,000 | $0 | ' | ' | $8,800,000 | ' | $2,700,000 | $6,100,000 |
Summary_of_Estimated_Fair_Valu
Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) (San Rafael Corporate Center, USD $) | 0 Months Ended |
In Thousands, unless otherwise specified | Mar. 10, 2014 |
Business Acquisition [Line Items] | ' |
Building and improvements | 94,414 |
Land | 14,565 |
Land improvements | 3,616 |
Intangible assets | 3,905 |
Total identifiable net assets | 116,500 |
Building and Improvements | ' |
Business Acquisition [Line Items] | ' |
Estimated useful lives | '50 years |
Land Improvements | ' |
Business Acquisition [Line Items] | ' |
Estimated useful lives | '10 years |
Intangible Assets | ' |
Business Acquisition [Line Items] | ' |
Estimated useful lives | 'Remaining lease term |
Fair_Value_of_Identifiable_Int
Fair Value of Identifiable Intangible assets Acquired by Asset Class (Detail) (San Rafael Corporate Center, USD $) | Mar. 10, 2014 |
In Thousands, unless otherwise specified | |
Business Acquisition [Line Items] | ' |
Fair value of identifiable intangible assets | $3,905 |
Above Market Leases | ' |
Business Acquisition [Line Items] | ' |
Fair value of identifiable intangible assets | 351 |
In Place Leases | ' |
Business Acquisition [Line Items] | ' |
Fair value of identifiable intangible assets | $3,554 |
Stockholders_Equity_Additional
Stockholders' Equity - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | |
In Thousands, except Share data in Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2013 |
Stockholders Equity [Line Items] | ' | ' | ' |
Common stock sold, shares | 1.5 | ' | ' |
Common stock sold, per share | $78.45 | $78.45 | ' |
Common stock sold, net proceeds | $117,500 | $117,463 | $0 |
Computation_of_Basic_and_Dilut
Computation of Basic and Diluted Earnings per Common Share (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Schedule Of Earnings Per Share Basic And Diluted [Line Items] | ' | ' |
Net loss, basic | ($38,115) | ($39,810) |
Gain on Company common stock issued to the Nonqualified Deferred Compensation Plan | -374 | 0 |
Net loss, diluted | ($38,489) | ($39,810) |
Basic weighted-average shares outstanding | 143,983 | 127,969 |
Common stock issued to the Nonqualified Deferred Compensation Plan | 174 | 0 |
Fully diluted weighted-average shares | 144,157 | 127,969 |
Basic loss per common share | ($0.26) | ($0.31) |
Diluted loss per common share | ($0.27) | ($0.31) |
AntiDilutive_Common_Stock_Excl
Anti-Dilutive Common Stock Excluded From Computation of Diluted Net Loss Per Share (Detail) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
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 | 24,992 | 20,182 |
Stock Option | ' | ' |
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 | 12,444 | 12,884 |
Convertible Notes due 2017 | ' | ' |
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 | 3,047 | 5,396 |
Common stock issuable under the 2018 Notes and the 2020 Notes | ' | ' |
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 | 7,966 | 0 |
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 | 1,326 | 1,375 |
Employee Stock Purchase Plan (ESSP) | ' | ' |
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 | 209 | 325 |
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 | 0 | 202 |
Net_Loss_Per_Common_Share_Addi
Net Loss Per Common Share - Additional Information (Detail) (USD $) | Mar. 31, 2014 |
Earnings Per Share [Line Items] | ' |
Debt instrument, convertible, conversion price, per share | $94.15 |
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 $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $498,966 | $483,633 |
Gross Unrealized Holding Gains | 566 | 432 |
Gross Unrealized Holding Losses | -379 | -423 |
Aggregate Fair Value | 499,153 | 483,642 |
Certificates of Deposit | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 53,171 | 47,008 |
Gross Unrealized Holding Gains | 5 | 2 |
Gross Unrealized Holding Losses | 0 | 0 |
Aggregate Fair Value | 53,176 | 47,010 |
Corporate Debt Securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 383,897 | 341,519 |
Gross Unrealized Holding Gains | 413 | 313 |
Gross Unrealized Holding Losses | -379 | -423 |
Aggregate Fair Value | 383,931 | 341,409 |
Commercial Paper | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 52,946 | 86,154 |
Gross Unrealized Holding Gains | 19 | 24 |
Gross Unrealized Holding Losses | 0 | 0 |
Aggregate Fair Value | 52,965 | 86,178 |
U.S. Government Agency Securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 8,900 | 8,900 |
Gross Unrealized Holding Gains | 2 | 1 |
Gross Unrealized Holding Losses | 0 | 0 |
Aggregate Fair Value | 8,902 | 8,901 |
Greek Government-Issued Bonds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 52 | 52 |
Gross Unrealized Holding Gains | 127 | 92 |
Gross Unrealized Holding Losses | 0 | 0 |
Aggregate Fair Value | $179 | $144 |
Investments_Additional_Informa
Investments - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair value of marketable equity securities | $15.10 | $13 |
Marketable equity securities, unrealized gain (loss) | $12.10 | $10.10 |
Fair_Values_of_AvailableForSal
Fair Values of Available-For-Sale Securities by Contractual Maturity (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Maturing in one year or less | $247,703 | $215,942 |
Maturing after one year through three years | 251,450 | 267,700 |
Total | $499,153 | $483,642 |
Intangible_Assets_Detail
Intangible Assets (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Intangible assets: | ' | ' | |
Finite-lived intangible assets | $123,147 | $118,242 | |
Indefinite-lived intangible assets | 74,430 | 74,430 | |
Gross intangible assets: | 197,577 | 192,672 | |
Less: Accumulated amortization | -32,180 | -29,525 | |
Net carrying value | $165,397 | $163,147 | [1] |
[1] | December 31, 2013 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, 2013, filed with the Securities and Exchange Commission (the SEC) on February 26, 2014. |
Property_Plant_and_Equipment_D
Property Plant and Equipment (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Property, Plant and Equipment [Line Items] | ' | ' | |
Property, plant and equipment, gross | $631,656 | $504,359 | |
Less: Accumulated depreciation | -194,590 | -185,043 | |
Total property, plant and equipment, net | 437,066 | 319,316 | [1] |
Leasehold Improvements | ' | ' | |
Property, Plant and Equipment [Line Items] | ' | ' | |
Property, plant and equipment, gross | 58,527 | 73,973 | |
Building and Improvements | ' | ' | |
Property, Plant and Equipment [Line Items] | ' | ' | |
Property, plant and equipment, gross | 270,441 | 159,125 | |
Manufacturing and Laboratory Equipment | ' | ' | |
Property, Plant and Equipment [Line Items] | ' | ' | |
Property, plant and equipment, gross | 99,978 | 95,126 | |
Computer Hardware and Software | ' | ' | |
Property, Plant and Equipment [Line Items] | ' | ' | |
Property, plant and equipment, gross | 78,729 | 74,948 | |
Furniture and Equipment | ' | ' | |
Property, Plant and Equipment [Line Items] | ' | ' | |
Property, plant and equipment, gross | 12,661 | 12,367 | |
Land Improvements | ' | ' | |
Property, Plant and Equipment [Line Items] | ' | ' | |
Property, plant and equipment, gross | 3,616 | 0 | |
Land | ' | ' | |
Property, Plant and Equipment [Line Items] | ' | ' | |
Property, plant and equipment, gross | 26,145 | 11,608 | |
Construction-in-Progress | ' | ' | |
Property, Plant and Equipment [Line Items] | ' | ' | |
Property, plant and equipment, gross | $81,559 | $77,212 | |
[1] | December 31, 2013 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, 2013, filed with the Securities and Exchange Commission (the SEC) on February 26, 2014. |
Property_Plant_and_Equipment_A
Property Plant and Equipment - Additional Information (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Property, Plant and Equipment [Line Items] | ' | ' |
Depreciation expense | $9,600,000 | $8,700,000 |
Depreciation expense capitalized into inventory | $2,924,000 | $2,607,000 |
Schedule_of_Inventory_Detail
Schedule of Inventory (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Condensed Financial Statements, Captions [Line Items] | ' | ' | |
Raw materials | $14,491 | $15,309 | |
Work-in-process | 105,663 | 88,417 | |
Finished goods | 56,739 | 58,879 | |
Total inventory | $176,893 | $162,605 | [1] |
[1] | December 31, 2013 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, 2013, filed with the Securities and Exchange Commission (the SEC) on February 26, 2014. |
Schedule_of_Other_Assets_Detai
Schedule of Other Assets (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Condensed Financial Statements, Captions [Line Items] | ' | ' | |
Deposits | $7,239 | $7,196 | |
Escrow balance for SRCC purchase | 0 | 116,500 | |
Deferred offering costs | 14,364 | 15,374 | |
Strategic investment | 15,067 | 13,000 | |
Other | 4,875 | 4,101 | |
Total other assets | $41,545 | $156,171 | [1] |
[1] | December 31, 2013 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, 2013, filed with the Securities and Exchange Commission (the SEC) on February 26, 2014. |
Schedule_of_Accounts_Payable_a
Schedule of Accounts Payable and Accrued Liabilities (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Condensed Financial Statements, Captions [Line Items] | ' | ' | |
Accounts payable | $15,328 | $36,894 | |
Accrued accounts payable | 64,395 | 58,408 | |
Accrued compensation expense | 22,006 | 33,496 | |
Accrued vacation expense | 12,210 | 10,487 | |
Current portion of contingent acquisition consideration payable | 12,393 | 11,882 | |
Accrued rebates payable | 10,763 | 10,429 | |
Accrued royalties payable | 4,670 | 5,829 | |
Value added taxes payable | 3,504 | 3,603 | |
Other accrued operating expenses | 3,822 | 4,875 | |
Current portion of nonqualified deferred compensation liability | 905 | 1,363 | |
Other | 6,042 | 6,005 | |
Total accounts payable and accrued liabilities | $156,038 | $183,271 | [1] |
[1] | December 31, 2013 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, 2013, filed with the Securities and Exchange Commission (the SEC) on February 26, 2014. |
Summary_of_Convertible_Debt_De
Summary of Convertible Debt (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Debt Instrument [Line Items] | ' | ' | ||
Long-term convertible debt, net of unamortized discount | $661,419 | $655,566 | [1] | |
Convertible Notes, fair value | 1,035,937 | 1,012,335 | ||
Convertible Notes due 2020 | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Long-term convertible debt, net of unamortized discount | 289,699 | 287,025 | ||
Convertible Notes, fair value | 416,618 | [2] | 400,879 | [2] |
Convertible Notes due 2018 | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Long-term convertible debt, net of unamortized discount | 309,680 | 306,500 | ||
Convertible Notes, fair value | 411,742 | [2] | 397,691 | [2] |
Convertible Notes due 2017 | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ||
Long-term convertible debt, net of unamortized discount | 62,040 | 62,041 | ||
Convertible Notes, fair value | $207,577 | [2] | $213,765 | [2] |
[1] | December 31, 2013 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, 2013, filed with the Securities and Exchange Commission (the SEC) on February 26, 2014. | |||
[2] | 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. |
Summary_of_Convertible_Debt_Pa
Summary of Convertible Debt (Parenthetical) (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Convertible Notes due 2020 | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term convertible debt, unamortized discount | $85,301 | $87,975 |
Convertible Notes due 2018 | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Long-term convertible debt, unamortized discount | $65,320 | $68,500 |
Summary_of_Interest_Expense_on
Summary of Interest Expense on Convertible Debt (Detail) (Convertible Senior Notes, USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Convertible Senior Notes | ' | ' |
Schedule Of Interest Expenses [Line Items] | ' | ' |
Coupon interest | $2,408 | $1,509 |
Amortization of issuance costs | 843 | 216 |
Accretion of debt discount | 5,855 | 0 |
Total interest expense on convertible debt | $9,106 | $1,725 |
Recovered_Sheet2
Derivative Instruments and Hedging Strategies - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 3 Months Ended | ||||||||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | |
USD ($) | USD ($) | USD ($) | Minimum | Maximum | Forecasted foreign currency cash flows | Forecasted foreign currency cash flows | 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 | |
USD ($) | Maximum | Foreign Currency Derivatives | Euro | Foreign Currency Derivatives | Foreign Currency Derivatives | |||||||
Sale Contracts | Sale Contracts | Sale Contracts | ||||||||||
EUR (€) | EUR (€) | GBP (£) | ||||||||||
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of forward foreign currency exchange contracts outstanding | ' | ' | ' | ' | ' | ' | ' | ' | 105 | ' | ' | ' |
Outstanding forward foreign currency exchange contracts | ' | ' | ' | ' | ' | ' | ' | € 141,400,000 | ' | ' | € 38,600,000 | £ 2,800,000 |
Maturity period of foreign currency derivatives | ' | ' | ' | 1-Apr-14 | 28-Feb-17 | ' | 28-Feb-17 | ' | ' | 30-Apr-14 | ' | ' |
Amount reclassified from accumulated other comprehensive income to earnings as related to forecasted revenue transactions | 567,000 | -320,000 | ' | ' | ' | 1,400,000 | ' | ' | ' | ' | ' | ' |
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 | $1,100,000 | ' | ($2,400,000) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Recovered_Sheet3
Derivative Instruments and Hedging Strategies (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Derivatives Designated As Hedging Instruments | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Asset, Fair Value | $313 | $0 |
Derivative Liability, Fair Value | 1,402 | 2,186 |
Derivatives Designated As Hedging Instruments | Forward Foreign Currency Exchange Contracts | Accounts Payable and Accrued Liabilities | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Liability, Fair Value | 1,329 | 2,186 |
Derivatives Designated As Hedging Instruments | Forward Foreign Currency Exchange Contracts | Other Long-Term Liabilities | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Liability, Fair Value | 73 | 0 |
Derivatives Designated As Hedging Instruments | Forward Foreign Currency Exchange Contracts | Other Current Assets | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Asset, Fair Value | 38 | 0 |
Derivatives Designated As Hedging Instruments | Forward Foreign Currency Exchange Contracts | Other Assets | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Asset, Fair Value | 275 | 0 |
Derivatives Not Designated As Hedging Instruments | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Asset, Fair Value | 313 | 59 |
Derivative Liability, Fair Value | 1,517 | 2,186 |
Derivatives Not Designated As Hedging Instruments | Forward Foreign Currency Exchange Contracts | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Asset, Fair Value | 0 | 59 |
Derivative Liability, Fair Value | 115 | 0 |
Derivatives Not Designated As Hedging Instruments | Forward Foreign Currency Exchange Contracts | Accounts Payable and Accrued Liabilities | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Liability, Fair Value | 115 | 0 |
Derivatives Not Designated As Hedging Instruments | Forward Foreign Currency Exchange Contracts | Other Current Assets | ' | ' |
Derivative [Line Items] | ' | ' |
Derivative Asset, Fair Value | $0 | $59 |
Effect_of_Derivative_Instrumen
Effect of Derivative Instruments (Detail) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | |||||||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | ||||
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 Not Designated As Hedging Instruments | Derivatives Not Designated As Hedging Instruments | |||||||
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ||||
Net gain (loss) reclassified from accumulated OCI into income | $1,100 | ($2,400) | $1,396 | [1] | $679 | [1] | ' | ' | ||
Net gain (loss) reclassified from accumulated OCI into income | ' | ' | -567 | [2] | 320 | [2] | ' | ' | ||
Net gain (loss) recognized in income | ' | ' | ($121) | [3] | $105 | [3] | $56 | [4] | $901 | [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. |
Fair_Value_of_Financial_Assets
Fair Value of Financial Assets and Liabilities (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total other current assets | $2,607 | ' | ||
Total other assets | 19,708 | ' | ||
Fair value of Cash and cash equivalents | 639,778 | 568,781 | ||
Fair value of Available-for-sale securities | 499,153 | 483,642 | ||
Fair value of financial assets, Total | 1,161,246 | 1,075,159 | ||
Nonqualified Deferred Compensation Plan liability | 905 | 1,363 | ||
Contingent acquisition consideration payable | 12,393 | 11,882 | ||
Total current liabilities | 14,742 | 15,431 | ||
Total other long-term liabilities | 57,903 | 50,716 | ||
Fair value of financial liabilities, Total | 72,645 | 66,147 | ||
Overnight Deposits | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair value of Cash and cash equivalents | 137,884 | 156,228 | ||
Money Market Instruments | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Fair value of Cash and cash equivalents | 501,894 | 412,553 | ||
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 | 158,531 | 99,251 | ||
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 | 52,965 | 86,178 | ||
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 | 36,207 | 30,513 | ||
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 | 225,400 | 242,158 | ||
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 | 8,902 | 8,901 | ||
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 | 179 | 144 | ||
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 | 16,969 | 16,497 | ||
Other Current Assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Restricted investments | 2,350 | [1] | 5,670 | [1] |
Total other current assets | ' | 5,865 | ||
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 | 219 | 136 | ||
Other Current Assets | Foreign Exchange Forward | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Forward foreign currency exchange contract assets | 38 | [2] | 59 | [2] |
Other Assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Restricted investments | ' | 412 | [1] | |
Strategic investment | 15,067 | [3] | 13,000 | [3] |
Total other assets | ' | 16,871 | ||
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 | 4,366 | 3,459 | ||
Other Assets | Foreign Exchange Forward | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Forward foreign currency exchange contract assets | 275 | [2] | ' | |
Current Liabilities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Contingent acquisition consideration payable | 12,393 | 11,882 | ||
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 | 905 | 1,363 | ||
Current Liabilities | Foreign Exchange Forward | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Forward foreign currency exchange contract liability | 1,444 | [2] | 2,186 | [2] |
Other Long-Term Liabilities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Contingent acquisition consideration payable | 38,430 | 30,790 | ||
Asset retirement obligation | 3,850 | 4,122 | ||
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 | 15,550 | 15,804 | ||
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 | 73 | [2] | ' | |
Quoted Price In Active Markets For Identical Assets (Level 1) | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total other current assets | 0 | ' | ||
Total other assets | 15,067 | ' | ||
Fair value of Cash and cash equivalents | 137,884 | 156,228 | ||
Fair value of Available-for-sale securities | 0 | 0 | ||
Fair value of financial assets, Total | 152,951 | 169,228 | ||
Total current liabilities | 686 | 1,227 | ||
Total other long-term liabilities | 11,184 | 12,345 | ||
Fair value of financial liabilities, Total | 11,870 | 13,572 | ||
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 | 137,884 | 156,228 | ||
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 | Commercial Paper | ' | ' | ||
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 | 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] |
Total other current assets | ' | 0 | ||
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 assets | 0 | [2] | 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] | |
Strategic investment | 15,067 | [3] | 13,000 | [3] |
Total other assets | ' | 13,000 | ||
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) | Other Assets | Foreign Exchange Forward | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Forward foreign currency exchange contract assets | 0 | [2] | ' | |
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 | 686 | 1,227 | ||
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 | 11,184 | 12,345 | ||
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] | ' | |
Significant Other Observable Inputs (Level 2) | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total other current assets | 2,607 | ' | ||
Total other assets | 4,641 | ' | ||
Fair value of Cash and cash equivalents | 501,894 | 412,553 | ||
Fair value of Available-for-sale securities | 499,153 | 483,642 | ||
Fair value of financial assets, Total | 1,008,295 | 905,931 | ||
Total current liabilities | 1,663 | 2,322 | ||
Total other long-term liabilities | 4,439 | 3,459 | ||
Fair value of financial liabilities, Total | 6,102 | 5,781 | ||
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 | 501,894 | 412,553 | ||
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 | 158,531 | 99,251 | ||
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 | 52,965 | 86,178 | ||
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 | 36,207 | 30,513 | ||
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 | 225,400 | 242,158 | ||
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 | 8,902 | 8,901 | ||
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 | 179 | 144 | ||
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 | 16,969 | 16,497 | ||
Significant Other Observable Inputs (Level 2) | Other Current Assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Restricted investments | 2,350 | [1] | 5,670 | [1] |
Total other current assets | ' | 5,865 | ||
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 | 219 | 136 | ||
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 assets | 38 | [2] | 59 | [2] |
Significant Other Observable Inputs (Level 2) | Other Assets | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Restricted investments | ' | 412 | [1] | |
Strategic investment | 0 | [3] | 0 | [3] |
Total other assets | ' | 3,871 | ||
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 | 4,366 | 3,459 | ||
Significant Other Observable Inputs (Level 2) | Other Assets | Foreign Exchange Forward | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Forward foreign currency exchange contract assets | 275 | [2] | ' | |
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 | 219 | 136 | ||
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 | 1,444 | [2] | 2,186 | [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 | 4,366 | 3,459 | ||
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 | 73 | [2] | ' | |
Significant Unobservable Inputs (Level 3) | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Total other current assets | 0 | ' | ||
Total other assets | 0 | ' | ||
Fair value of Cash and cash equivalents | 0 | 0 | ||
Fair value of Available-for-sale securities | 0 | 0 | ||
Fair value of financial assets, Total | 0 | 0 | ||
Total current liabilities | 12,393 | 11,882 | ||
Total other long-term liabilities | 42,280 | 34,912 | ||
Fair value of financial liabilities, Total | 54,673 | 46,794 | ||
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 | Commercial Paper | ' | ' | ||
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 | 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] |
Total other current assets | ' | 0 | ||
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 assets | 0 | [2] | 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] | |
Strategic investment | 0 | [3] | 0 | [3] |
Total other assets | ' | 0 | ||
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) | Other Assets | Foreign Exchange Forward | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Forward foreign currency exchange contract assets | 0 | [2] | ' | |
Significant Unobservable Inputs (Level 3) | Current Liabilities | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Contingent acquisition consideration payable | 12,393 | 11,882 | ||
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 | 38,430 | 30,790 | ||
Asset retirement obligation | 3,850 | 4,122 | ||
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] | ' | |
[1] | The restricted investments at March 31, 2014 secure the Company's irrevocable standby letter of credit obtained in connection with certain commercial agreements. The restricted investments at December 31, 2013 secure the Company's irrevocable standby letter of credit obtained in connection with the Company's SRCC lease and certain commercial agreements. | |||
[2] | See Note 13 to these Condensed Consolidated Financial Statements for further information regarding the derivative instruments. | |||
[3] | The Company has an investment in marketable equity securities measured using quoted prices in an active market that is considered a strategic investment. See Note 8 to these Condensed Consolidated Financial Statements for additional discussion regarding the Company's strategic investment. |
Liabilities_Measured_at_Fair_V
Liabilities Measured at Fair Value Using Level 3 Inputs (Detail) (Contingent Payment, USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 |
Contingent Payment | ' |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' |
Contingent acquisition consideration payable, Beginning balance | $42,672 |
Changes in the fair value of the contingent acquisition consideration payable | 8,151 |
Contingent acquisition consideration payable, Ending balance | $50,823 |
Asset_Retirement_Obligation_Li
Asset Retirement Obligation Liability and Corresponding Capital Asset (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2014 |
Asset Retirement Obligations [Line Items] | ' |
Asset retirement obligation, Beginning balance | $4,122 |
Accretion | 30 |
Release of SRCC ARO accruals | -302 |
Asset retirement obligations, Ending balance | $3,850 |
Assumptions_Used_to_Estimate_P
Assumptions Used to Estimate Per Share Fair Value of Stock Options Granted (Detail) (Stock Option) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected volatility | ' | 44.00% |
Dividend yield | 0.00% | 0.00% |
Expected life | '6 years 10 months 24 days | '6 years 8 months 12 days |
Risk-free interest rate | ' | 1.10% |
Minimum | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected volatility | 44.00% | ' |
Risk-free interest rate | 2.10% | ' |
Maximum | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected volatility | 45.00% | ' |
Risk-free interest rate | 2.30% | ' |
Stock_Based_Compensation_Addit
Stock Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Options, Granted | 107,922 | ' |
Weighted Average fair value, Granted | $37.44 | ' |
Recognized compensation costs | $16,304,000 | $11,565,000 |
Stock-based compensation capitalized to inventory | 2,100,000 | 1,000,000 |
Employee Stock Purchase Plan (ESSP) | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Options, Granted | 0 | ' |
Restricted Stock Units (RSUs) | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Shares, Granted | 27,880 | ' |
Weighted Average fair value, Granted | $77.33 | ' |
Restricted Stock With Performance and Market Based Vesting Conditions | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Weighted Average fair value, Granted | $34.66 | ' |
Granted restricted stock units | 860,000 | ' |
Recognized compensation costs | $600,000 | $0 |
Restricted Stock With Performance and Market Based Vesting Conditions | Minimum | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Total shareholder return, percentage of multiplier range | 75.00% | ' |
Restricted Stock With Performance and Market Based Vesting Conditions | Maximum | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Total shareholder return, percentage of multiplier range | 125.00% | ' |
Compensation_Expense_Detail
Compensation Expense (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Total stock-based compensation expense | $16,304 | $11,565 |
Cost of Sales | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Total stock-based compensation expense | 1,086 | 1,044 |
Research and Development | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Total stock-based compensation expense | 7,115 | 5,324 |
Selling, General And Administrative | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Total stock-based compensation expense | $8,103 | $5,197 |
Amounts_Reclassified_out_of_Ac
Amounts Reclassified out of Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Net product revenues | $149,004 | $127,344 |
Selling, general and administrative | -60,069 | -51,050 |
Income tax expense | -3,491 | 4,711 |
NET LOSS | -38,115 | -39,810 |
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges | Foreign Exchange Forward | Reclassification out of Accumulated Other Comprehensive Income | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' |
Net product revenues | 887 | -472 |
Selling, general and administrative | 0 | -27 |
Income tax expense | -320 | 179 |
NET LOSS | $567 | ($320) |
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 $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | |
Beginning Balance, before tax amount | $7,757 | ($222) | |
Foreign currency translation adjustment, before tax amount | 5 | 148 | |
Unrealized gain (loss) on available-for-sale securities, before tax amount | ' | ' | |
Unrealized holding gains (loss), before tax amount | 2,244 | 330 | |
Less: reclassification adjustment for gain (loss) realized in net loss, before tax amount | 0 | 0 | |
Net unrealized holding gain (loss), before tax amount | 2,244 | 330 | |
Net unrealized holding gain (loss) on cash flow hedges, before tax amount | ' | ' | |
Unrealized holding gain (loss), before tax amount | 2,183 | 1,062 | |
Less: reclassification adjustment for gain (loss) realized in net loss, before tax amount | -887 | 499 | |
Net unrealized holding gain (loss), before tax amount | 1,296 | 1,561 | |
Other comprehensive income, before tax amount | 3,545 | 2,039 | |
Ending Balance, before tax amount | 11,302 | 1,817 | |
Beginning Balance, tax (expense) benefit | -2,739 | 20 | |
Foreign currency translation adjustment, tax (expense) benefit | 0 | 0 | |
Unrealized gain (loss) on available-for-sale securities, tax (expense) benefit | ' | ' | |
Unrealized holding gains (loss), tax (expense) benefit | -821 | -120 | |
Less: reclassification adjustment for gain (loss) realized in net loss, tax (expense) benefit | 0 | 0 | |
Net unrealized holding gain (loss), tax (expense) benefit | -821 | -120 | |
Net unrealized holding gain (loss) on cash flow hedges, tax (expense) benefit | ' | ' | |
Unrealized holding gain (loss), tax (expense) benefit | -787 | -383 | |
Less: reclassification adjustment for gain (loss) realized in net loss, tax (expense) benefit | 320 | -179 | |
Net unrealized holding gain (loss), tax (expense) benefit | -467 | -562 | |
Other comprehensive income, tax (expense) benefit | -1,288 | -682 | |
Ending Balance, tax (expense) benefit | -4,027 | -662 | |
Beginning Balance, 2013, net of tax amount | 5,018 | [1] | -202 |
Foreign currency translation adjustment, net of tax amount | 5 | 148 | |
Unrealized gain (loss) on available-for-sale securities, net of tax amount | ' | ' | |
Unrealized holding gains (loss), net of tax amount | 1,423 | 210 | |
Less: reclassification adjustment for gain (loss) realized in net loss, net of tax amount | 0 | 0 | |
Net unrealized holding gain (loss), net of tax amount | 1,423 | 210 | |
Net unrealized holding gain (loss) on cash flow hedges, net of tax amount | ' | ' | |
Unrealized holding gain (loss), net of tax amount | 1,396 | 679 | |
Less: reclassification adjustment for gain (loss) realized in net loss, net of tax amount | -567 | 320 | |
Net unrealized holding gain (loss), net of tax amount | 829 | 999 | |
Other comprehensive income, net of tax amount | 2,257 | 1,357 | |
Ending Balance, net of tax amount | $7,275 | $1,155 | |
[1] | December 31, 2013 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, 2013, filed with the Securities and Exchange Commission (the SEC) on February 26, 2014. |
Consolidated_Net_Product_Reven
Consolidated Net Product Revenue Attributed to Largest Customers (Detail) (Net Product Revenues) | 3 Months Ended | |||
Mar. 31, 2014 | Mar. 31, 2013 | |||
Geographic Concentration Risk | ' | ' | ||
Concentration Risk [Line Items] | ' | ' | ||
Concentration risk, percentage | 100.00% | 100.00% | ||
Geographic Concentration Risk | UNITED STATES | ' | ' | ||
Concentration Risk [Line Items] | ' | ' | ||
Concentration risk, percentage | 47.00% | 48.00% | ||
Geographic Concentration Risk | Europe | ' | ' | ||
Concentration Risk [Line Items] | ' | ' | ||
Concentration risk, percentage | 20.00% | 21.00% | ||
Geographic Concentration Risk | Latin America | ' | ' | ||
Concentration Risk [Line Items] | ' | ' | ||
Concentration risk, percentage | 16.00% | 16.00% | ||
Geographic Concentration Risk | Rest of World | ' | ' | ||
Concentration Risk [Line Items] | ' | ' | ||
Concentration risk, percentage | 17.00% | 15.00% | ||
Customer Concentration Risk | ' | ' | ||
Concentration Risk [Line Items] | ' | ' | ||
Concentration risk, percentage | 50.00% | 51.00% | ||
Customer Concentration Risk | Customer A | ' | ' | ||
Concentration Risk [Line Items] | ' | ' | ||
Concentration risk, percentage | 16.00% | 15.00% | ||
Customer Concentration Risk | Customer B | ' | ' | ||
Concentration Risk [Line Items] | ' | ' | ||
Concentration risk, percentage | 12.00% | [1] | 13.00% | [1] |
Customer Concentration Risk | Customer C | ' | ' | ||
Concentration Risk [Line Items] | ' | ' | ||
Concentration risk, percentage | 11.00% | 13.00% | ||
Customer Concentration Risk | Customer D | ' | ' | ||
Concentration Risk [Line Items] | ' | ' | ||
Concentration risk, percentage | 11.00% | 10.00% | ||
[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. |
Recovered_Sheet4
Revenue and Credit Concentrations - Additional Information (Detail) (USD $) | 3 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | |||||||||||
In Thousands, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | |||
Customer | 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 | |||||
Accounts Receivable | Net Product Revenues | Accounts Receivable | Accounts Receivable | Accounts Receivable | Accounts Receivable | Net Product Revenues | Net Product Revenues | Net Product Revenues | Net Product Revenues | Net Product Revenues | Net Product Revenues | ||||||
Customer A | Customer A | Customer B | Customer B | Customer A | Customer A | Customer B | Customer B | ||||||||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Number of customers accounted for largest balance in accounts receivable | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Concentration risk, percentage | ' | ' | 20.00% | 5.00% | 40.00% | 45.00% | 16.00% | 15.00% | 50.00% | 51.00% | 16.00% | 15.00% | 12.00% | [1] | 13.00% | [1] | |
Accounts receivable, net | $110,462 | $117,822 | [2] | ' | ' | $22,200 | $26,300 | ' | ' | ' | ' | ' | ' | ' | ' | ||
[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, 2013 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, 2013, filed with the Securities and Exchange Commission (the SEC) on February 26, 2014. |
Schedule_of_Accounts_Receivabl
Schedule of Accounts Receivable by Country that were Past Due (Detail) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | |
In Thousands, unless otherwise specified | |||
Accounts Receivable [Line Items] | ' | ' | |
Total Amount Past Due | $3,009 | ' | |
Allowance for Doubtful Accounts | 551 | 529 | [1] |
ITALY | ' | ' | |
Accounts Receivable [Line Items] | ' | ' | |
Total Amount Past Due | 0 | ' | |
SPAIN | ' | ' | |
Accounts Receivable [Line Items] | ' | ' | |
Total Amount Past Due | 2,177 | ' | |
PORTUGAL | ' | ' | |
Accounts Receivable [Line Items] | ' | ' | |
Total Amount Past Due | 467 | ' | |
GREECE | ' | ' | |
Accounts Receivable [Line Items] | ' | ' | |
Total Amount Past Due | 365 | ' | |
RUSSIA | ' | ' | |
Accounts Receivable [Line Items] | ' | ' | |
Total Amount Past Due | 0 | ' | |
Less Than 180 Days | ' | ' | |
Accounts Receivable [Line Items] | ' | ' | |
Total Amount Past Due | 2,265 | ' | |
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 | 1,798 | ' | |
Less Than 180 Days | PORTUGAL | ' | ' | |
Accounts Receivable [Line Items] | ' | ' | |
Total Amount Past Due | 467 | ' | |
Less Than 180 Days | GREECE | ' | ' | |
Accounts Receivable [Line Items] | ' | ' | |
Total Amount Past Due | 0 | ' | |
Less Than 180 Days | RUSSIA | ' | ' | |
Accounts Receivable [Line Items] | ' | ' | |
Total Amount Past Due | 0 | ' | |
180 -360 Days | ' | ' | |
Accounts Receivable [Line Items] | ' | ' | |
Total Amount Past Due | 333 | ' | |
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 | 333 | ' | |
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 | ' | |
180 -360 Days | RUSSIA | ' | ' | |
Accounts Receivable [Line Items] | ' | ' | |
Total Amount Past Due | 0 | ' | |
Greater Than 360 Days | ' | ' | |
Accounts Receivable [Line Items] | ' | ' | |
Total Amount Past Due | 411 | ' | |
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 | 46 | ' | |
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 | 365 | ' | |
Greater Than 360 Days | RUSSIA | ' | ' | |
Accounts Receivable [Line Items] | ' | ' | |
Total Amount Past Due | 0 | ' | |
Foreign Operations | ' | ' | |
Accounts Receivable [Line Items] | ' | ' | |
Allowance for Doubtful Accounts | 365 | ' | |
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 | 365 | ' | |
Foreign Operations | RUSSIA | ' | ' | |
Accounts Receivable [Line Items] | ' | ' | |
Allowance for Doubtful Accounts | $0 | ' | |
[1] | December 31, 2013 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, 2013, filed with the Securities and Exchange Commission (the SEC) on February 26, 2014. |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 |
Commitments and Contingencies [Line Items] | ' |
Contingent payments upon achievement of certain regulatory and licensing milestones | $581.50 |
Purchase commitment for the next five years | 37.4 |
Completed Programs | ' |
Commitments and Contingencies [Line Items] | ' |
Contingent payments upon achievement of certain regulatory and licensing milestones | $56.40 |