Forest Laboratories (FRX) 10-Q 7 Nov 13 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Sep. 30, 2013	Nov. 06, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'FOREST LABORATORIES INC	'
Entity Central Index Key	'0000038074	'
Current Fiscal Year End Date	'--03-31	'
Entity Well-known Seasoned Issuer	'Yes	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	269,408,430
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Sep. 30, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Current assets:	'	'
Cash (including cash equivalent investments of $802,784 at September 30, 2013 and $867,112 at March 31, 2013)	$920,454	$935,675
Marketable securities	757,357	739,198
Accounts receivable, less allowance for doubtful accounts of $2,027 at September 30, 2013 and $2,003 at March 31, 2013	431,344	478,032
Inventories, net	487,793	393,901
Deferred income taxes	274,919	266,455
Other current assets	130,194	134,525
Total current assets	3,002,061	2,947,786
Non-current assets:	'	'
Marketable securities and investments	1,423,394	1,349,424
Property, plant and equipment	758,659	739,702
Less: accumulated depreciation	374,238	362,742
Property, plant and equipment, net	384,421	376,960
Goodwill	713,091	713,091
License agreements, product rights and other intangibles, less accumulated amortization of $389,989 at September 30, 2013 and $322,689 at March 31, 2013	2,107,049	2,127,639
Other assets	106,950	114,682
Total assets	7,736,966	7,629,582
Current liabilities:	'	'
Accounts payable	66,573	157,349
Accrued expenses and other liabilities	926,492	840,342
Total current liabilities	993,065	997,691
Long-term liabilities:	'	'
Income tax liabilities	523,740	567,311
Deferred tax liabilities	264,413	283,245
Other long-term liabilities	39,365	36,080
Total liabilities	1,820,583	1,884,327
Contingencies (Note 11)	'	'
Stockholders' equity:	'	'
Preferred stock, $1.00 par; shares authorized 1,000; no shares issued or outstanding	'	'
Common stock, $.10 par; shares authorized 1,000,000; issued 432,925 shares at September 30, 2013 and 430,385 shares at March 31, 2013	43,293	43,039
Additional paid-in capital	1,888,980	1,799,071
Retained earnings	9,148,609	9,055,344
Accumulated other comprehensive income	672	10,116
Treasury stock, at cost (163,957 shares at September 30, 2013 and 163,886 shares at March 31, 2013)	-5,165,171	-5,162,315
Total stockholders' equity	5,916,383	5,745,255
Total liabilities and stockholders' equity	$7,736,966	$7,629,582

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) (USD $)	Sep. 30, 2013	Mar. 31, 2013
In Thousands, except Share data, unless otherwise specified
Current assets:	'	'
Cash equivalent investments	$802,784	$867,112
Accounts receivable, allowance for doubtful accounts	2,027	2,003
Non-current assets [Abstract]	'	'
Accumulated amortization	$389,989	$322,689
Stockholders' equity:	'	'
Preferred stock, par value (in dollars per share)	$1	$1
Preferred stock, shares authorized (in shares)	1,000	1,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$0.10	$0.10
Common stock, shares authorized (in shares)	1,000,000	1,000,000
Common stock, shares issued (in shares)	432,925	430,385
Treasury stock, shares (in shares)	163,957	163,886

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) [Abstract]	'	'	'	'
Net sales	$811,429	$692,017	$1,608,282	$1,443,783
Contract revenue	36,025	54,277	67,943	120,112
Interest and other income	7,801	14,343	11,965	17,869
Total revenue	855,255	760,637	1,688,190	1,581,764
Costs and expenses:	'	'	'	'
Cost of sales	163,718	149,723	329,085	317,946
Selling, general and administrative	408,564	374,889	852,427	757,198
Research and development	191,358	202,839	376,782	398,005
Total costs and expenses	763,640	727,451	1,558,294	1,473,149
Income before income tax expense	91,615	33,186	129,896	108,615
Income tax expense	21,628	12,409	36,631	32,553
Net income	$69,987	$20,777	$93,265	$76,062
Net income per share:	'	'	'	'
Basic (in dollars per share)	$0.26	$0.08	$0.35	$0.28
Diluted (in dollars per share)	$0.26	$0.08	$0.35	$0.28
Weighted average number of common shares outstanding:	'	'	'	'
Basic (in shares)	268,540	266,503	267,831	267,447
Diluted (in shares)	270,825	267,169	269,634	268,092

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) [Abstract]	'	'	'	'
Net income	$69,987	$20,777	$93,265	$76,062
Other comprehensive income (loss):	'	'	'	'
Foreign currency translation gains (losses)	3,936	1,692	6,051	-6,502
Pension liability adjustment, net of tax	0	-157	-1,444	3,360
Unrealized gains (losses) on securities:	'	'	'	'
Unrealized holding gains (losses) arising during the period, net of tax	6,902	-214	-14,051	795
Other comprehensive loss	10,838	1,321	-9,444	-2,347
Comprehensive income	$80,825	$22,098	$83,821	$73,715

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Cash flows from operating activities:	'	'
Net income	$93,265	$76,062
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation	27,319	22,665
Amortization	65,809	48,184
Stock-based compensation expense	34,528	28,415
Deferred income tax benefit	-27,296	-3,886
Decrease (increase) in:	'	'
Accounts receivable, net	46,688	52,076
Inventories, net	-93,892	-43,993
Other current assets	4,331	5,383
Increase (decrease) in:	'	'
Accounts payable	-90,776	-87,632
Accrued expenses	86,150	18,396
Income tax liabilities	-43,571	-1,505
Other liabilities	3,286	0
Other	22,097	2,527
Net cash provided by operating activities	127,938	116,692
Cash flows from investing activities:	'	'
Purchase of property, plant and equipment	-50,297	-37,808
Sale of property, plant, and equipment	13,750	0
Purchase of marketable securities	-688,904	-1,312,644
Redemption of marketable securities	613,338	1,095,283
Purchase of trademarks	-44,500	-125,000
Other investing activities	-42,300	-25,377
Net cash used in investing activities	-198,913	-405,546
Cash flows from financing activities:	'	'
Net proceeds from common stock options exercised by employees under stock option plans	55,218	8,892
Tax benefit related to stock-based compensation	417	23
Treasury stock transactions	-2,856	-793
Net cash provided by financing activities	52,779	8,122
Effect of exchange rate changes on cash	2,975	-1,326
Decrease in cash and cash equivalents	-15,221	-282,058
Cash and cash equivalents, beginning of period	935,675	1,579,515
Cash and cash equivalents, end of period	$920,454	$1,297,457

Basis_of_presentation

Basis of presentation	6 Months Ended
	Sep. 30, 2013
Basis of presentation [Abstract]	'
Basis of presentation	'
	1.   Basis of presentation:
	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information, Accounting Standards Codification (ASC) Topic 270-10 and with the instructions to Form 10-Q.  Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements.  In management's opinion, all adjustments considered necessary for a fair presentation have been included in the interim periods presented and all adjustments are of a normal recurring nature.  The Company has evaluated subsequent events through the date of this filing.  Operating results for the three and six-month periods ended September 30, 2013 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2014.  When used in these notes, the terms "Forest" or "the Company" mean Forest Laboratories, Inc. and subsidiaries.  The March 31, 2013 condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP.  You should read these unaudited interim condensed consolidated financial statements in conjunction with the consolidated financial statements and footnotes hereto incorporated by reference in the Company's Annual Report on Form  10-K for the fiscal year ended March 31, 2013.

Accounts_receivable

Accounts receivable	6 Months Ended
	Sep. 30, 2013
Accounts receivable [Abstract]	'
Accounts receivable	'
	2.   Accounts receivable:
	Accounts receivable, net, consist of the following:
	(In thousands)
		30-Sep-13		31-Mar-13
	Trade	$	376,093	$	403,331
	Other		55,251		74,701
		$	431,344	$	478,032

Inventories

Inventories	6 Months Ended
	Sep. 30, 2013
Inventories [Abstract]	'
Inventories	'
	3. Inventories:
	Inventories, net of reserves for obsolescence, consist of the following:
	(In thousands)
		30-Sep-13		31-Mar-13
	Raw materials	$	133,745	$	127,508
	Work in process		1,305		1,333
	Finished goods		352,743		265,060
		$	487,793	$	393,901

Fair_value_measurements

Fair value measurements

6 Months Ended

Sep. 30, 2013

Fair value measurements [Abstract]

'

Fair value measurements

'

4. Fair value measurements:

The following table presents the level within the fair value hierarchy at which the Company's financial assets are carried at fair value and measured on a recurring basis:

(In thousands)

Description

Fair value at

Quoted prices in active markets for identical assets

Significant other observable market inputs

Unobservable market inputs

30-Sep-13

(Level 1)

(Level 2)

(Level 3)

Money market accounts

$

719,224

$

719,224

$

–

$

–

Municipal bonds and notes

19,622

–

19,622

–

Commercial paper

168,767

5,849

162,918

–

Variable rate demand notes

29,140

–

29,140

–

Auction rate securities

3,198

–

–

3,198

Certificates of deposit

102,966

5,998

96,968

–

Corporate bonds

1,631,779

–

1,631,779

–

Government agency bonds

254,172

–

254,172

–

Description

Fair value at

Quoted prices in active markets for identical assets

Significant other observable market inputs

Unobservable market inputs

31-Mar-13

(Level 1)

(Level 2)

(Level 3)

Money market accounts

$

818,474

$

818,474

$

–

$

–

Municipal bonds and notes

46,877

–

46,877

–

Commercial paper

168,639

31,815

136,824

–

Variable rate demand notes

1,500

–

1,500

–

Auction rate securities

3,198

–

–

3,198

Certificates of deposit

90,268

5,981

84,287

–

Corporate bonds

1,509,870

–

1,509,870

–

Government agency bonds

278,804

–

278,804

–

The Company determines fair value based on a market approach using quoted market values, significant other observable inputs for identical or comparable assets or liabilities, or discounted cash flow analyses. The Company determines the value of the auction rate securities portfolio based upon a discounted cash flow model.  The assumptions used in the valuation model include estimates for interest rates, timing and amount of cash flows, and expected holding periods for the auction rate securities.

There were no purchases or sales of Level 3 investments during the three and six-month periods ended September 30, 2013.

The majority of the Company's non-financial assets and liabilities are not required to be carried at fair value on a recurring basis.  However, the Company is required on a non-recurring basis to use fair value measurements when assessing asset impairment as it relates to goodwill, license agreements, product rights, other intangible assets and other long-lived assets.  The carrying amount of cash, accounts receivable and accounts payable and other short-term financial instruments approximate their fair value due to their short-term nature.

Marketable_securities

Marketable securities	6 Months Ended
	Sep. 30, 2013
Marketable securities [Abstract]	'
Marketable securities	'
	5. Marketable securities:
	Available-for-sale debt securities consist of the following:
	(In thousands)	30-Sep-13
		Estimated fair value		Gains in accumulated other comprehensive income		Losses in accumulated other comprehensive income
	Current:
	Municipal bonds and notes	$	11,727	$	11	$	–
	Government agency bonds		75,462		169		(1	)
	Commercial paper		82,357		–		–
	Certificates of deposit		99,966		22		(15	)
	Corporate bonds		487,845		981		(148	)
	Total current securities		757,357		1,183		(164	)
	Non-current:
	Municipal bonds and notes		7,895		24		–
	Government agency bonds		178,710		184		(226	)
	Commercial paper		2,850		–		–
	Certificates of deposit		3,000		–		–
	Corporate bonds		1,143,934		3,040		(5,652	)
	Auction rate securities		3,198		–		–
	Variable rate demand notes		29,140		–		–
	Total non-current securities		1,368,727		3,248		(5,878	)
	Total available-for-sale debt securities	$	2,126,084	$	4,431	$	(6,042	)
	(In thousands)	31-Mar-13
		Estimated fair value		Gains in accumulated other comprehensive income		Losses in accumulated other comprehensive income
	Current:
	Municipal bonds and notes	$	34,025	$	34	$	–
	Government agency bonds		87,227		125		(10	)
	Commercial paper		144,293		–		–
	Certificates of deposit		47,977		–		(2	)
	Corporate bonds		425,676		1,286		(33	)
	Total current securities		739,198		1,445		(45	)
	Non-current:
	Municipal bonds and notes		12,852		37		–
	Government agency bonds		186,577		434		(19	)
	Certificates of deposit		22,999		–		–
	Corporate bonds		1,084,194		5,290		(2,150	)
	Auction rate securities		3,198		–		(752	)
	Variable rate demand notes		1,500		–		–
	Total non-current securities		1,311,320		5,761		(2,921	)
	Total available-for-sale debt securities	$	2,050,518	$	7,206	$	(2,966	)
	Proceeds from the sale of available-for-sale debt securities were $613.3 million and $1.1 billion for the six months ended September 30, 2013 and September 30, 2012, respectively.  Gross realized gains on those sales were $0.5 million and $1.0 million, respectively.  For purposes of determining gross realized gains and losses, the cost of the securities is based on average cost.  The Company records holding gains and losses on available for sale securities in the 'Accumulated other comprehensive income' caption in the condensed consolidated Balance Sheet.  The Company had a net unrealized holding loss of $1.6 million at September 30, 2013 and a net unrealized holding gain of $4.2 million at March 31, 2013.  The preceding tables do not include the Company's equity securities for Ironwood Pharmaceuticals, Inc. (Ironwood) and Trevena, Inc. (Trevena).  The carrying value of the Company's equity securities in Ironwood, which were measured at fair market value based on quoted market price for the related security, was $24.7 million and $38.1 million at September 30, 2013 and March 31, 2013, respectively.  The Company purchased $30 million of Trevena preferred stock during the first quarter of fiscal 2014.  Refer to Note 6 for additional information.
	Contractual maturities of available-for-sale debt securities at September 30, 2013 are as follows:
	(In thousands)
		Estimated fair value
	Within one year	$	757,357
	1-5 years		1,329,877
	5-10 years		4,402
	After 10 years		34,448
		$	2,126,084
	Actual maturities may differ from stated maturities because some borrowers have the right to call or prepay obligations with or without call penalties.
	The Company invests funds in variable rate demand notes that have major bank liquidity agreements, municipal bonds and notes, government agency bonds, commercial paper, corporate bonds, certificates of deposit, and auction rate securities.  Certain securities are subject to a hard-put option(s) where the principal amount is contractually assured by the issuer and any resistance to the exercise of these options would be deemed as a default by the issuer.  Such a potential default would be reflected in the issuer's respective credit rating, for which the Company maintains investment grade requirements pursuant to its corporate investment guidelines.  While the Company believes its investments that have net unrealized losses are temporary, declines in the value of these investments may be deemed other-than-temporary if the credit and capital markets were to deteriorate in future periods.  The Company has the ability and intends to hold its investments until a recovery of fair value, which may be at maturity.  The Company does not consider these investments to be other-than-temporarily impaired and will continue to monitor global market conditions to minimize the uncertainty of impairments in future periods.

License_and_collaboration_agre

License and collaboration agreements	6 Months Ended
	Sep. 30, 2013
License and collaboration agreements [Abstract]	'
License and collaboration agreements	'
	6.  License and collaboration agreements:
	Fetzima approval
	In July 2013, the Company received U.S. Food and Drug Adminstration (FDA) approval for Fetzima TM (levomilnacipran extended-release capsules), a once-daily serotonin and norepinephrine reuptake inhibitor for the treatment of Major Depressive Disorder in adults.  The Company licensed rights to levomilnacipran in the U.S. and Canada from Pierre Fabre Laboratories, under an agreement pursuant to which the Company made a milestone payment of $30 million which was due upon FDA approval.  The milestone payment was capitalized as an intangible asset and will be amortized over the life of the patent for Fetzima.
	Trevena license
	On May 9, 2013, the Company entered into a collaborative licensing option agreement with Trevena for the development of TRV027, a novel beta-arrestin biased ligand of the angiotensin II type 1 receptor for the treatment of acute decompensated heart failure.  Pursuant to the agreement, the Company purchased $30 million of Trevena preferred stock in a round of private placement financing which is recorded in the non-current 'Marketable securities and investments' caption in the condensed consolidated Balance Sheet.  This investment is accounted for using the cost method and will be reviewed for impairment annually or more frequently if a triggering event is deemed to have occurred.
	Ironwood collaboration
	In September 2007, the Company entered into a collaboration agreement with Ironwood to jointly develop and commercialize Linzess® (linaclotide) for the treatment of irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC).  Under the terms of the agreement, the Company shares equally with Ironwood all profits and losses from the development and commercialization of Linzess in the U.S.  In addition, Forest obtained exclusive rights to the linaclotide license in Canada and Mexico, for which the Company will pay royalties to Ironwood based on net sales in those territories, subject to receiving regulatory approval.
	The agreement included contingent milestone payments as well as a contingent equity investment based on the achievement of specific clinical and commercial milestones.  As of September 30, 2013, payments totaling $230 million, relating to development and approval milestones, have been made.  The Company may be obligated to pay up to an additional $100 million if certain sales milestones are achieved.
	Linzess received FDA approval as a once-daily treatment for adult men and women suffering from IBS-C and CIC in August 2012.  For the three and six-month periods ended September 30, 2013, Linzess sales in the U.S. totaled $34.4 million and $63.2 million, respectively.
	Based on the nature of the arrangement (including its contractual terms), the nature of the payments and applicable guidance, the Company records receipts from and payments to Ironwood in two pools: the Development pool, which consists of research and development (R&D) expenses, and the Commercialization pool, which consists of revenue, cost of sales and selling, general and administrative (SG&A) expense.  The net payment to or receipt from Ironwood for the Development pool is recorded in R&D expense and the net payment to or receipt from Ironwood for the Commercialization pool is recorded in SG&A expense.
	The following illustrates activity related to the Ironwood collaboration agreement for the periods presented:
		Three Months Ended						Six Months Ended
		September 30,						September 30,
	(In thousands)	2013			2012			2013			2012
	Revenue
	Net Sales attributed to the Ironwood
	collaboration agreement	$	34,444		$	-		$	63,207		$	-
	Cost of sales
	Cost of sales attributed to the Ironwood
	collaboration agreement		494			-			3,406			-
	Selling, general and administrative
	Payment to/ (receipt from) Ironwood
	for the Commercialization pool		(5,412	)		(2,414	)		(17,767	)		(5,515	)
	Research and development
	Payment to/ (receipt from) Ironwood
	for the Development pool		983			(533	)		1,007			(1,401	)
	moksha8
	On October 22, 2012, the Company announced an agreement with moksha8, a privately-held pharmaceutical company which markets products in Latin America.  The agreement includes an exclusive license from Forest to moksha8 to commercialize Viibryd, and potentially other Forest products, in Latin America.  In addition, the Company agreed to provide up to $125 million in debt financing to moksha8 in several tranches over a two-year period, conditioned upon moksha8 achieving certain business goals.  As of September 30, 2013, a total of $95.0 million has been funded of which $12.3 million was funded during the six months ended September 30, 2013.  The loan is collateralized by the assets of moksha8.  At the conclusion of the two-year period, the Company will have the option to acquire moksha8 in a merger transaction at a fixed price of $157 million.  At such time, moksha8 shareholders will have the ability to put to Forest all interests of moksha8 at a fixed price of $144 million, provided moksha8 achieves certain business objectives. On November 1, 2013, the Company funded an additional $6.9 million to moksha8.
	The balances recorded in the Company's condensed consolidated Balance Sheet in connection with the agreements with moksha8 are included in the 'Other assets' caption and are as follows:
	(In thousands)
		30-Sep-13			31-Mar-13
	Value of call/put option	$	10,700		$	10,700
	Loan receivable		84,300			72,000

Net_income_loss_per_share

Net income (loss) per share	6 Months Ended
	Sep. 30, 2013
Net income (loss) per share [Abstract]	'
Net income (loss) per share	'
	7. Net income per share:
	A reconciliation of shares used in calculating basic and diluted net income per share follows:
	(In thousands)
		Three Months Ended				Six Months Ended
		September 30,				September 30,
		2013		2012		2013		2012
	Basic		268,540		266,503		267,831		267,447
	Incremental shares attributable to share
	based compensation plans		2,285		666		1,803		645
	Diluted		270,825		267,169		269,634		268,092
	Options to purchase approximately 4.8 million shares of common stock at exercise prices ranging from $34.04 to $59.05 per share and options to purchase approximately 5.6 million shares of common stock at exercise prices ranging from $32.28 to $59.05 per share were not included in the computation of diluted shares for three and six-month periods ended September 30, 2013, respectively, because their effect would be anti-dilutive.  These options expire through 2023.  Options to purchase approximately 14.3 million shares at exercise prices ranging from $28.23 to $59.05 per share and options to purchase approximately 14.5 million shares at exercise prices ranging from $28.23 to $59.05 per share were not included in the computation of diluted shares for the three and six-month periods ended September 30, 2012, respectively, because their effect would be anti-dilutive.  The weighted average number of diluted common shares outstanding is reduced by the treasury stock method which, in accordance with the provisions of ASC 718-10 Compensation–Stock Compensation, takes into consideration the compensation cost attributed to future services not yet recognized.

Stockholders_equity

Stockholders' equity	6 Months Ended
	Sep. 30, 2013
Stockholders' equity [Abstract]	'
Stockholders' equity	'
	8. Stockholders' equity:
	Stock based compensation: In August 2013, the Company's stockholders approved an amendment to the Company's 2007 Equity Incentive Plan (the 2007 Plan) whereby an additional 28 million shares were authorized to be issued to employees of the Company.  Under the 2007 Plan, as amended, a total of 57 million shares have been authorized to be issued.  The 2007 Plan provides for the granting of incentive and nonqualified stock options, restricted stock, stock appreciation rights and stock equivalent units.  These awards generally vest in three to five years.  Stock options, granted at prices not less than the fair market value of the common stock at the date of the grant, may be exercisable for up to ten years from the date of issuance.  As of September 30, 2013, 31.2 million shares were available for grant under the 2007 Plan.  Stock based compensation expense of $19.8 million ($12.3 million net of tax) and $34.5 million ($21.4 million net of tax) was recorded for the three and six-month periods ended September 30, 2013, respectively.  For the three and six-month periods ended September 30, 2012, compensation expense of $15.5 million ($11.1 million net of tax) and $28.4 million ($20.4 million net of tax) respectively, was recorded.  This expense is charged to Cost of sales, SG&A expense and R&D expense, as appropriate.

Business_segment_information

Business segment information	6 Months Ended
	Sep. 30, 2013
Business segment information [Abstract]	'
Business segment information	'
	9. Business segment information:
	The Company operates in only one segment.  Net sales by therapeutic class is as follows:
		Three Months Ended				Six Months Ended
	(In thousands)	September 30,				September 30,
		2013		2012		2013		2012
	Central nervous system	$	506,513	$	486,921	$	1,025,773	$	1,037,704
	Cardiovascular		136,446		113,813		268,752		229,233
	Gastrointestinal		34,444		–		63,207		–
	Respiratory		48,404		19,531		88,387		37,314
	Other		85,622		71,752		162,163		139,532
		$	811,429	$	692,017	$	1,608,282	$	1,443,783

Income_taxes

Income taxes	6 Months Ended
	Sep. 30, 2013
Income taxes [Abstract]	'
Income taxes	'
	10.  Income taxes:
	The Company's income tax returns for fiscal years prior to 2003 in most jurisdictions and prior to 2007 in Ireland are no longer subject to review as such fiscal years are generally closed.  Tax authorities in various jurisdictions are in the process of reviewing the Company's income tax returns for various post-2002 fiscal years, including the Internal Revenue Service (IRS), which has recently concluded its examination of the Company's U.S. federal income tax returns for fiscal years 2004, 2005 and 2006.
	In connection with that examination the Company has agreed with an assessment related to intercompany transfer pricing.  Such assessment resulted in additional U.S. federal and state corporation tax within previously established tax reserves and did not have a material impact on the Company's results of operations.
	Fiscal years 2007, 2008 and 2009 are currently under review by the IRS.  It is unlikely that the outcome will be determined within the next 12 months.  Potential claims for years under review could be material.
	The Company's continuing practice is to recognize net interest related to income tax matters in income tax expense.  As of September 30, 2013, the Company accrued an additional $9.8 million in interest, for a total of $60.1 million, related to various tax matters.
	The Company's effective tax rate was 23.6% and 28.2% for the three and six-month periods ended September 30, 2013, respectively, as compared to 37.4% and 30.0% for the same periods last year.  The decrease in the current three and six-month periods compared to last year was primarily due to a change in the mix of earnings by jurisdiction and the re-enactment of the U.S. Research and Experimentation Tax Credit on January 2, 2013, offset by the write-off of a note receivable related to the termination of the Nabriva development program.

Contingencies

Contingencies	6 Months Ended
	Sep. 30, 2013
Contingencies [Abstract]	'
Contingencies	'
	11. Contingencies:
	In March 2012, the Company and Janssen, its licensor for Bystolic, brought actions for infringement of U.S. Patent No. 6,545,040 (the '040 patent) in the U.S. District Court for the District of Delaware and the U.S. District Court for the Northern District of Illinois against several companies who have notified them that they have filed Abbreviated New Drug Applications (ANDAs) with the FDA seeking to obtain approval to market generic versions of Bystolic before the '040 patent expires on December 21, 2021.  These lawsuits triggered an automatic stay of approval of the applicable ANDAs until June 17, 2015 (unless a court issues an adverse decision sooner).  Janssen is no longer a party to these lawsuits following the Company's agreement to buy out Janssen's interests in Bystolic.  On June 12, 2012, the Judicial Panel on Multidistrict Litigation centralized the Delaware and Illinois actions in the Northern District of Illinois before Judge Elaine E. Bucklo for coordinated or consolidated pretrial proceedings captioned "In re Nebivolol ('040) Patent Litigation."
	The Company has entered into settlement agreements with all of the defendant groups in such patent infringement litigation: Hetero Labs Ltd and Hetero USA Inc. (October 2012); Torrent Pharmaceuticals Ltd and Torrent Pharma Inc. (November 2012); Alkem Laboratories Ltd. and Indchemie Health Specialties Pvt. Ltd. (November 2012); Glenmark Generics Inc., USA, Glenmark Generics Ltd. and Glenmark Pharmaceuticals Ltd (December 2012); Amerigen Pharmaceuticals, Inc. and Amerigen Pharmaceuticals, Ltd. (July 2013); and Activis, Inc. (November 3013) (collectively, the "Settling Defendants").  Under the terms of the settlement agreements, and subject to review of the settlement terms by the U.S. Federal Trade Commission, the Company will provide a license to each of the Settling Defendants that will permit them to launch their respective generic versions of Bystolic as of the date that is the later of (a) three calendar months prior to the expiration of the '040 patent, including any extensions and/or pediatric exclusivities or (b) the date that each Settling Defendant receives final FDA approval of its ANDA, or earlier in certain circumstances.  The Company also agreed to reimburse certain of the Settling Defendants' legal costs in connection with the patent litigation, which were not material.
	In October 2012, Forest Pharmaceuticals, Inc. (FPI) was named as a defendant, along with The Peer Group, Inc. (TPG), in a putative class action brought by the St. Louis Heart Center (SLHC) under the caption "St. Louis Heart Center, Inc. v. Forest Pharmaceuticals, Inc. and The Peer Group, Inc."  The action is now pending in the U.S. District Court for the Eastern District of Missouri.  On May 17, 2013, SLHC filed a Fourth Amended Complaint, alleging that Forest and TPG violated the Telephone Consumer Protection Act of 1991, as amended by the Junk Fax Prevention Act of 2005, 47 U.S.C. § 227 (TCPA), on behalf of a proposed class that includes all persons who, from four years prior to the filing of the action, were sent telephone facsimile messages of material advertising the commercial availability of any property, goods, or services by or on behalf of defendants, which did not display an opt-out notice compliant with a certain regulation promulgated by the Federal Communications Commission (FCC).  The Complaint seeks $500 for each alleged violation of the TCPA, treble damages if the Court finds the violations to be willful, knowing or intentional, interest, and injunctive and other relief.  On May 21, 2013, in Nack v. Walburg, a separate case in which FPI is not a party, the U.S. Court of Appeals for the Eighth Circuit ruled that the district court in that case lacked jurisdiction to determine the validity of this FCC regulation and that the defendant in that case could only challenge the validity of this regulation through an administrative petition submitted directly to the FCC, a decision that would then be appealable to the appropriate court of appeals.  On June 27, 2013, FPI filed a Petition for Declaratory Ruling with the FCC requesting that the FCC find that (1) the faxes at issue in the action complied, or substantially complied with the FCC regulation, and thus did not violate it, or (2) the FCC regulation was not properly promulgated under the TCPA.  On July 17, 2013, the district court granted our motion to stay the action pending the administrative proceeding initiated by Forest's FCC Petition, including any appeal therefrom.  The Company believes that there is no merit to SLHC's claims and intends to vigorously defend this lawsuit.
	We received a subpoena dated August 5, 2013 from the U.S. Department of Health and Human Services, Office of Inspector General.  The subpoena primarily requests documents relating to the marketing of Bystolic, Savella, and Namenda, including with respect to speaker programs for these products.  The Company is cooperating in responding to the subpoena.
	In September and October 2013, we and Royalty Pharma Collection Trust, our licensor for Savella, brought actions for infringement of U.S. Patent No. 6,602,911 (the '911 patent), U.S. Patent No. 7,888,342 (the '342 patent), and U.S. Patent No. 7,994,220 (the '220 patent) in the U.S. District Court for the District of Delaware against several companies who have notified them that they have filed ANDAs with the FDA seeking to obtain approval to market generic versions of Savella before these patents expire.  (The '342 patent expires in November 2021, the '911 patent expires in January 2023, and the '220 patent expires in September 2029.)  These lawsuits triggered an automatic stay of approval of the applicable ANDAs until July 14, 2016 (unless a court issues a decision adverse to us and Royalty Pharma sooner).
	The Company is also subject to various legal proceedings that arise from time to time in the ordinary course of its business.  Litigation is subject to many factors which are difficult to predict and there can be no assurance that the Company will not incur material costs in the resolution of these matters.

Accounts_receivable_Tables

Accounts receivable (Tables)	6 Months Ended
	Sep. 30, 2013
Accounts receivable [Abstract]	'
Accounts receivable	'
	Accounts receivable, net, consist of the following:
	(In thousands)
		30-Sep-13		31-Mar-13
	Trade	$	376,093	$	403,331
	Other		55,251		74,701
		$	431,344	$	478,032

Inventories_Tables

Inventories (Tables)	6 Months Ended
	Sep. 30, 2013
Inventories [Abstract]	'
Inventories, Net of Reserves for Obsolescence	'
	Inventories, net of reserves for obsolescence, consist of the following:
	(In thousands)
		30-Sep-13		31-Mar-13
	Raw materials	$	133,745	$	127,508
	Work in process		1,305		1,333
	Finished goods		352,743		265,060
		$	487,793	$	393,901

Fair_value_measurements_Tables

Fair value measurements (Tables)

6 Months Ended

Sep. 30, 2013

Fair value measurements [Abstract]

'

Fair value hierarchy of financial assets

'

The following table presents the level within the fair value hierarchy at which the Company's financial assets are carried at fair value and measured on a recurring basis:

(In thousands)

Description

Fair value at

Quoted prices in active markets for identical assets

Significant other observable market inputs

Unobservable market inputs

30-Sep-13

(Level 1)

(Level 2)

(Level 3)

Money market accounts

$

719,224

$

719,224

$

–

$

–

Municipal bonds and notes

19,622

–

19,622

–

Commercial paper

168,767

5,849

162,918

–

Variable rate demand notes

29,140

–

29,140

–

Auction rate securities

3,198

–

–

3,198

Certificates of deposit

102,966

5,998

96,968

–

Corporate bonds

1,631,779

–

1,631,779

–

Government agency bonds

254,172

–

254,172

–

Description

Fair value at

Quoted prices in active markets for identical assets

Significant other observable market inputs

Unobservable market inputs

31-Mar-13

(Level 1)

(Level 2)

(Level 3)

Money market accounts

$

818,474

$

818,474

$

–

$

–

Municipal bonds and notes

46,877

–

46,877

–

Commercial paper

168,639

31,815

136,824

–

Variable rate demand notes

1,500

–

1,500

–

Auction rate securities

3,198

–

–

3,198

Certificates of deposit

90,268

5,981

84,287

–

Corporate bonds

1,509,870

–

1,509,870

–

Government agency bonds

278,804

–

278,804

–

Marketable_securities_Tables

Marketable securities (Tables)	6 Months Ended
	Sep. 30, 2013
Marketable securities [Abstract]	'
Available-for-sale debt securities	'
	Available-for-sale debt securities consist of the following:
	(In thousands)	30-Sep-13
		Estimated fair value		Gains in accumulated other comprehensive income		Losses in accumulated other comprehensive income
	Current:
	Municipal bonds and notes	$	11,727	$	11	$	–
	Government agency bonds		75,462		169		(1	)
	Commercial paper		82,357		–		–
	Certificates of deposit		99,966		22		(15	)
	Corporate bonds		487,845		981		(148	)
	Total current securities		757,357		1,183		(164	)
	Non-current:
	Municipal bonds and notes		7,895		24		–
	Government agency bonds		178,710		184		(226	)
	Commercial paper		2,850		–		–
	Certificates of deposit		3,000		–		–
	Corporate bonds		1,143,934		3,040		(5,652	)
	Auction rate securities		3,198		–		–
	Variable rate demand notes		29,140		–		–
	Total non-current securities		1,368,727		3,248		(5,878	)
	Total available-for-sale debt securities	$	2,126,084	$	4,431	$	(6,042	)
	(In thousands)	31-Mar-13
		Estimated fair value		Gains in accumulated other comprehensive income		Losses in accumulated other comprehensive income
	Current:
	Municipal bonds and notes	$	34,025	$	34	$	–
	Government agency bonds		87,227		125		(10	)
	Commercial paper		144,293		–		–
	Certificates of deposit		47,977		–		(2	)
	Corporate bonds		425,676		1,286		(33	)
	Total current securities		739,198		1,445		(45	)
	Non-current:
	Municipal bonds and notes		12,852		37		–
	Government agency bonds		186,577		434		(19	)
	Certificates of deposit		22,999		–		–
	Corporate bonds		1,084,194		5,290		(2,150	)
	Auction rate securities		3,198		–		(752	)
	Variable rate demand notes		1,500		–		–
	Total non-current securities		1,311,320		5,761		(2,921	)
	Total available-for-sale debt securities	$	2,050,518	$	7,206	$	(2,966	)
Contractual maturities of available-for-sale debt securities	'
	Contractual maturities of available-for-sale debt securities at September 30, 2013 are as follows:
	(In thousands)
		Estimated fair value
	Within one year	$	757,357
	1-5 years		1,329,877
	5-10 years		4,402
	After 10 years		34,448
		$	2,126,084

License_and_collaboration_agre1

License and collaboration agreements (Tables)	6 Months Ended
	Sep. 30, 2013
License and collaboration agreements [Abstract]	'
Schedule of activity related to Collaborative Arrangement	'
	The following illustrates activity related to the Ironwood collaboration agreement for the periods presented:
		Three Months Ended						Six Months Ended
		September 30,						September 30,
	(In thousands)	2013			2012			2013			2012
	Revenue
	Net Sales attributed to the Ironwood
	collaboration agreement	$	34,444		$	-		$	63,207		$	-
	Cost of sales
	Cost of sales attributed to the Ironwood
	collaboration agreement		494			-			3,406			-
	Selling, general and administrative
	Payment to/ (receipt from) Ironwood
	for the Commercialization pool		(5,412	)		(2,414	)		(17,767	)		(5,515	)
	Research and development
	Payment to/ (receipt from) Ironwood
	for the Development pool		983			(533	)		1,007			(1,401	)
Schedule of consolidated balance sheet information, Agreement	'
	The balances recorded in the Company's condensed consolidated Balance Sheet in connection with the agreements with moksha8 are included in the 'Other assets' caption and are as follows:
	(In thousands)
		30-Sep-13			31-Mar-13
	Value of call/put option	$	10,700		$	10,700
	Loan receivable		84,300			72,000

Net_income_loss_per_share_Tabl

Net income (loss) per share (Tables)	6 Months Ended
	Sep. 30, 2013
Net income (loss) per share [Abstract]	'
Reconciliation of shares used in calculating basic and diluted net income per share	'
	A reconciliation of shares used in calculating basic and diluted net income per share follows:
	(In thousands)
		Three Months Ended				Six Months Ended
		September 30,				September 30,
		2013		2012		2013		2012
	Basic		268,540		266,503		267,831		267,447
	Incremental shares attributable to share
	based compensation plans		2,285		666		1,803		645
	Diluted		270,825		267,169		269,634		268,092

Business_segment_information_T

Business segment information (Tables)	6 Months Ended
	Sep. 30, 2013
Business segment information [Abstract]	'
Net sales by therapeutic class	'
	The Company operates in only one segment.  Net sales by therapeutic class is as follows:
		Three Months Ended				Six Months Ended
	(In thousands)	September 30,				September 30,
		2013		2012		2013		2012
	Central nervous system	$	506,513	$	486,921	$	1,025,773	$	1,037,704
	Cardiovascular		136,446		113,813		268,752		229,233
	Gastrointestinal		34,444		–		63,207		–
	Respiratory		48,404		19,531		88,387		37,314
	Other		85,622		71,752		162,163		139,532
		$	811,429	$	692,017	$	1,608,282	$	1,443,783

Accounts_receivable_Details

Accounts receivable (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Accounts receivable, net	$431,344	$478,032
Trade [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Accounts receivable, net	376,093	403,331
Other [Member]	'	'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'	'
Accounts receivable, net	$55,251	$74,701

Inventories_Details

Inventories (Details) (USD $)	Sep. 30, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified
Inventories [Abstract]	'	'
Raw materials	$133,745	$127,508
Work in process	1,305	1,333
Finished goods	352,743	265,060
Inventories, net	$487,793	$393,901

Fair_value_measurements_Detail

Fair value measurements (Details) (USD $)	3 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2013	Mar. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'	'
Money market accounts	$719,224	$719,224	$818,474
Municipal bonds and notes	19,622	19,622	46,877
Commercial paper	168,767	168,767	168,639
Variable rate demand notes	29,140	29,140	1,500
Auction rate securities	3,198	3,198	3,198
Certificates of deposit	102,966	102,966	90,268
Corporate bonds	1,631,779	1,631,779	1,509,870
Government agency bonds	254,172	254,172	278,804
Reconciliation of Level 3 investments measured at fair value on a recurring basis using unobservable inputs [Roll Forward]	'	'	'
Sales	0	0	'
Purchases or sales of level 3 investments	0	0	'
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'	'
Money market accounts	719,224	719,224	818,474
Municipal bonds and notes	0	0	0
Commercial paper	5,849	5,849	31,815
Variable rate demand notes	0	0	0
Auction rate securities	0	0	0
Certificates of deposit	5,998	5,998	5,981
Corporate bonds	0	0	0
Government agency bonds	0	0	0
Significant Other Observable Market Inputs (Level 2) [Member]	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'	'
Money market accounts	0	0	0
Municipal bonds and notes	19,622	19,622	46,877
Commercial paper	162,918	162,918	136,824
Variable rate demand notes	29,140	29,140	1,500
Auction rate securities	0	0	0
Certificates of deposit	96,968	96,968	84,287
Corporate bonds	1,631,779	1,631,779	1,509,870
Government agency bonds	254,172	254,172	278,804
Unobservable Market Inputs (Level 3) [Member]	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]	'	'	'
Money market accounts	0	0	0
Municipal bonds and notes	0	0	0
Commercial paper	0	0	0
Variable rate demand notes	0	0	0
Auction rate securities	3,198	3,198	3,198
Certificates of deposit	0	0	0
Corporate bonds	0	0	0
Government agency bonds	$0	$0	$0

Marketable_securities_Details

Marketable securities (Details) (USD $)	6 Months Ended		12 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Mar. 31, 2013	Jun. 30, 2013
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Total available-for-sale debt securities: Estimated fair value	$2,126,084,000	'	$2,050,518,000	'
Total available-for-sale debt securities: Gains in accumulated other comprehensive income	4,431,000	'	7,206,000	'
Total available-for-sale debt securities: Losses in accumulated other comprehensive income	-6,042,000	'	-2,966,000	'
Proceeds from sales of available-for-sale debt securities	613,300,000	1,100,000,000	'	'
Gross realized gains on sales of available-for-sale debt securities	500,000	1,000,000	'	'
Net unrealized holding gains (losses) on available-for-sale debt securities	1,600,000	'	4,200,000	'
Investment in Ironwood Pharmaceuticals, Inc.	24,700,000	'	38,100,000	'
Investment in Trevena, Inc.	'	'	'	30,000,000
Contractual maturities of available-for-sale debt securities, fair value [Abstract]	'	'	'	'
Within one year	757,357,000	'	'	'
1-5 years	1,329,877,000	'	'	'
5-10 years	4,402,000	'	'	'
After 10 years	34,448,000	'	'	'
Total available-for-sale debt securities: Estimated fair value	2,126,084,000	'	2,050,518,000	'
Current [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Estimated fair value, current	757,357,000	'	739,198,000	'
Gains in accumulated other comprehensive income	1,183,000	'	1,445,000	'
Losses in accumulated other comprehensive income	-164,000	'	-45,000	'
Noncurrent [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Estimated fair value, non-current	1,368,727,000	'	1,311,320,000	'
Gains in accumulated other comprehensive income	3,248,000	'	5,761,000	'
Losses in accumulated other comprehensive income	-5,878,000	'	-2,921,000	'
Municipal Bonds and Notes [Member] | Current [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Estimated fair value, current	11,727,000	'	34,025,000	'
Gains in accumulated other comprehensive income	11,000	'	34,000	'
Losses in accumulated other comprehensive income	0	'	0	'
Municipal Bonds and Notes [Member] | Noncurrent [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Estimated fair value, non-current	7,895,000	'	12,852,000	'
Gains in accumulated other comprehensive income	24,000	'	37,000	'
Losses in accumulated other comprehensive income	0	'	0	'
Government Agency Bonds [Member} | Current [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Estimated fair value, current	75,462,000	'	87,227,000	'
Gains in accumulated other comprehensive income	169,000	'	125,000	'
Losses in accumulated other comprehensive income	-1,000	'	-10,000	'
Government Agency Bonds [Member} | Noncurrent [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Estimated fair value, non-current	178,710,000	'	186,577,000	'
Gains in accumulated other comprehensive income	184,000	'	434,000	'
Losses in accumulated other comprehensive income	-226,000	'	-19,000	'
Commercial Paper [Member] | Current [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Estimated fair value, current	82,357,000	'	144,293,000	'
Gains in accumulated other comprehensive income	0	'	0	'
Losses in accumulated other comprehensive income	0	'	0	'
Commercial Paper [Member] | Noncurrent [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Estimated fair value, non-current	2,850,000	'	'	'
Gains in accumulated other comprehensive income	0	'	'	'
Losses in accumulated other comprehensive income	0	'	'	'
Certificates of Deposit [Member] | Current [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Estimated fair value, current	99,966,000	'	47,977,000	'
Gains in accumulated other comprehensive income	22,000	'	0	'
Losses in accumulated other comprehensive income	-15,000	'	-2,000	'
Certificates of Deposit [Member] | Noncurrent [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Estimated fair value, non-current	3,000,000	'	22,999,000	'
Gains in accumulated other comprehensive income	0	'	0	'
Losses in accumulated other comprehensive income	0	'	0	'
Corporate Bonds [Member] | Current [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Estimated fair value, current	487,845,000	'	425,676,000	'
Gains in accumulated other comprehensive income	981,000	'	1,286,000	'
Losses in accumulated other comprehensive income	-148,000	'	-33,000	'
Corporate Bonds [Member] | Noncurrent [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Estimated fair value, non-current	1,143,934,000	'	1,084,194,000	'
Gains in accumulated other comprehensive income	3,040,000	'	5,290,000	'
Losses in accumulated other comprehensive income	-5,652,000	'	-2,150,000	'
Auction Rate Securities [Member] | Noncurrent [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Estimated fair value, non-current	3,198,000	'	3,198,000	'
Gains in accumulated other comprehensive income	0	'	0	'
Losses in accumulated other comprehensive income	0	'	-752,000	'
Variable Rate Demand Note [Member] | Noncurrent [Member]	'	'	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'	'	'
Estimated fair value, non-current	29,140,000	'	1,500,000	'
Gains in accumulated other comprehensive income	0	'	0	'
Losses in accumulated other comprehensive income	$0	'	$0	'

License_and_collaboration_agre2

License and collaboration agreements (Details) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

0 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Mar. 31, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Nov. 01, 2013

Fetzima [Member]

Trevena [Member]

Ironwood [Member]

Ironwood [Member]

Ironwood [Member]

Ironwood [Member]

moksha8 [Member]

Subsequent Event [Member]

moksha8 [Member]

Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Marketable securities and investments

'

'

'

'

'

'

$30,000,000

'

'

'

'

'

'

Milestone payment

'

'

'

'

'

30,000,000

'

230,000,000

'

230,000,000

'

'

'

Potential future milestone payment under the Ironwood collaboration agreement

'

'

'

'

'

'

'

'

'

100,000,000

'

'

'

Contingent equity investment convertible preferred stock to be paid

'

'

'

'

'

'

'

25,000,000

'

25,000,000

'

'

'

Funding amount

'

'

'

'

'

'

'

'

'

'

'

12,300,000

6,900,000

Cumulative funding amount

'

'

'

'

'

'

'

'

'

'

'

95,000,000

'

Revenues [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

Net sales

811,429,000

692,017,000

1,608,282,000

1,443,783,000

'

'

'

34,444,000

0

63,207,000

0

'

'

Cost of sales [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

Cost of sales

163,718,000

149,723,000

329,085,000

317,946,000

'

'

'

494,000

0

3,406,000

0

'

'

SG&A [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

Payment to/ (receipt from) Ironwood for the Commercialization pool

'

'

'

'

'

'

'

-5,412,000

-2,414,000

-17,767,000

-5,515,000

'

'

R&D [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

Payment to/ (receipt from) Ironwood for the Development pool

'

'

'

'

'

'

'

983,000

-533,000

1,007,000

-1,401,000

'

'

Maximum financial financing

'

'

'

'

'

'

'

'

'

'

'

125,000,000

'

Period to achieve business goal

'

'

'

'

'

'

'

'

'

'

'

'2 years

'

Fixed price to acquire moksha8

'

'

'

'

'

'

'

'

'

'

'

157,000,000

'

Fixed price at which moksha8 shareholders can put all assets of moksha8

'

'

'

'

'

'

'

'

'

'

'

144,000,000

'

Activity related to agreement recorded in Consolidated Balance Sheet [Abstract]

'

'

'

'

'

'

'

'

'

'

'

'

'

Value of call/put option

10,700,000

'

10,700,000

'

10,700,000

'

'

'

'

'

'

'

'

Loans receivable

$84,300,000

'

$84,300,000

'

$72,000,000

'

'

'

'

'

'

'

'

Net_income_loss_per_share_Deta

Net income (loss) per share (Details) (USD $)	3 Months Ended		6 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Reconciliation of shares used in calculating basic and diluted net income per share [Abstract]	'	'	'	'
Basic (in shares)	268,540,000	266,503,000	267,831,000	267,447,000
Incremental shares attributable to share based compensation plans (in shares)	2,285,000	666,000	1,803,000	645,000
Diluted (in shares)	270,825,000	267,169,000	269,634,000	268,092,000
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Anti-dilutive options to purchase common stock outstanding during the period (in shares)	4,800,000	14,300,000	5,600,000	14,500,000
Exercise price range, lower range limit (in dollars per shares)	$34.04	$28.23	$32.28	$28.23
Exercise price range, upper range limit (in dollars per share)	$59.05	$59.05	$59.05	$59.05
Contract Expiration	'	'	30-Sep-23	'

Stockholders_equity_Details

Stockholders' equity (Details) (USD $)	3 Months Ended		6 Months Ended
Share data in Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'	'	'
Shares available for grant (in shares)	31.2	'	31.2	'
Compensation expense	$19,800,000	$15,500,000	$34,528,000	$28,415,000
Compensation expense, net of tax	$12,300,000	$11,100,000	$21,400,000	$20,400,000
Minimum [Member]	'	'	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'	'	'
Share-based compensation arrangement by share-based payment award, award vesting period	'	'	'3 years	'
Maximum [Member]	'	'	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'	'	'
Share-based compensation arrangement by share-based payment award, award vesting period	'	'	'5 years	'
Exercise period from date of issuance for stock option grants	'	'	'10 years	'
2007 Equity Incentive Plan [Member]	'	'	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'	'	'
Shares authorized to be issued to employees under 2007 Plan (in shares)	'	'	28	'
Amended 2007 Equity Incentive Plan [Member]	'	'	'	'
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]	'	'	'	'
Shares authorized to be issued to employees under 2007 Plan (in shares)	'	'	57	'

Business_segment_information_D

Business segment information (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
			Segment
Business segment information [Abstract]	'	'	'	'
Number of operating segments	'	'	1	'
Segment Reporting Information [Line Items]	'	'	'	'
Net Sales	$811,429	$692,017	$1,608,282	$1,443,783
Central Nervous System [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net Sales	506,513	486,921	1,025,773	1,037,704
Cardiovascular [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net Sales	136,446	113,813	268,752	229,233
Gastrointestinal [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net Sales	34,444	0	63,207	0
Respiratory [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net Sales	48,404	19,531	88,387	37,314
Other [Member]	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'
Net Sales	$85,622	$71,752	$162,163	$139,532

Income_taxes_Details

Income taxes (Details) (USD $)	3 Months Ended		6 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income taxes [Abstract]	'	'	'	'
Additional interest accrued in period for income tax matters	'	'	$9.80	'
Total accrual for interest related to the resolution of various income tax matters	$60.10	'	$60.10	'
Effective tax rate (in hundredths)	23.60%	28.20%	37.40%	30.00%

Contingencies_Details

Contingencies (Details) (USD $)	6 Months Ended
	Sep. 30, 2013
Contingencies [Abstract]	'
Number of years prior to the fourth Amended Complaint filed by St. Louis Heart Center	'4 years
Amount sought for each alleged violation	$500