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Three Months Ended

September 30,

(Shares in thousands)

Stock options

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2013	Oct. 28, 2013
Entity Information [Line Items]
Entity Registrant Name	REGENERON PHARMACEUTICALS INC
Entity Central Index Key	0000872589
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		97,389,765
Class A Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		2,028,871

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2013	Dec. 31, 2012
Current assets:
Cash and cash equivalents	$ 263,211	$ 230,276
Marketable securities	182,112	77,819
Accounts receivable - trade, net	855,844	593,207
Accounts receivable from Sanofi	136,980	99,913
Deferred tax assets	39,174	148,134
Prepaid expenses and other current assets	156,839	56,663
Total current assets	1,634,160	1,206,012
Restricted cash and marketable securities		8,186
Marketable securities	329,863	271,230
Property, plant, and equipment, at cost, net of accumulated depreciation and amortization	453,891	379,940
Deferred tax assets	218,092	192,022
Other assets	4,409	23,100
Total assets	2,640,415	2,080,490
Current liabilities:
Accounts payable and accrued expenses	219,138	111,345
Deferred revenue from Sanofi, current portion	13,866	17,022
Deferred Revenue - other, current portion	34,929	33,809
Facility lease obligations, current portion	794	1,374
Total current liabilities	268,727	163,550
Deferred revenue from Sanofi	77,670	76,520
Deferred Revenue - other	111,893	131,822
Facility lease obligations	167,219	159,436
Convertible senior notes	314,162	296,518
Other long term liabilities	10,573	7,259
Total liabilities	950,244	835,105
Commitments and contingencies
Stockholders' equity:
Preferred stock
Additional paid-in capital	1,882,421	1,763,508
Accumulated deficit	(189,498)	(517,054)
Accumulated other comprehensive loss	(2,851)	(1,166)
Total stockholders' equity	1,690,171	1,245,385
Total liabilities and stockholders' equity	2,640,415	2,080,490
Class A Stock
Stockholders' equity:
Common stock	2	2
Common Stock
Stockholders' equity:
Common stock	$ 97	$ 95

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2013	Dec. 31, 2012
Stockholders' equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	30,000,000	30,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A Stock
Stockholders' equity:
Common Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common Stock, shares authorized (in shares)	40,000,000	40,000,000
Common Stock, shares issued (in shares)	2,028,871	2,069,187
Common Stock, shares outstanding (in shares)	2,028,871	2,069,187
Common Stock
Stockholders' equity:
Common Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common Stock, shares authorized (in shares)	160,000,000	160,000,000
Common Stock, shares issued (in shares)	97,351,157	95,223,525
Common Stock, shares outstanding (in shares)	97,351,157	95,223,525

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income Statement [Abstract]
Net product sales	$ 367,118	$ 249,172	$ 1,019,751	$ 576,622
Sanofi collaboration revenue	134,359	145,042	319,161	319,035
Bayer HealthCare collaboration revenue	88,583	26,701	134,594	48,308
Technology licensing	5,893	5,893	17,679	17,679
Other revenue	1,074	879	3,148	2,231
Total revenues	597,027	427,687	1,494,333	963,875
Expenses:
Research and development	224,045	158,295	591,807	444,530
Selling, general, and administrative	97,607	46,883	247,330	153,016
Cost of goods sold	28,253	20,145	83,557	54,286
Cost of collaboration manufacturing	10,320		23,684
Total expenses	360,225	225,323	946,378	651,832
Income from operations	236,802	202,364	547,955	312,043
Other income (expense):
Investment income	618	517	2,028	1,628
Interest expense	(11,736)	(11,413)	(34,776)	(33,809)
Total other income (expense)	(11,118)	(10,896)	(32,748)	(32,181)
Income before income taxes	225,684	191,468	515,207	279,862
Income tax expense	(84,378)		(187,651)
Net income	$ 141,306	$ 191,468	$ 327,556	$ 279,862
Net income per share - basic (in dollars per share)	$ 1.44	$ 2.02	$ 3.36	$ 2.97
Net income per share - diluted (in dollars per share)	$ 1.25	$ 1.72	$ 2.95	$ 2.55
Weighted average shares outstanding - basic (in shares)	98,226	95,012	97,602	94,349
Weighted average shares outstanding - diluted (in shares)	116,713	115,830	115,554	109,780
Statements of Comprehensive Income
Net income	$ 141,306	$ 191,468	$ 327,556	$ 279,862
Other comprehensive income (loss):
Unrealized gain (loss) on marketable securities, net of tax	578	467	(1,685)	(42)
Comprehensive income	$ 141,884	$ 191,935	$ 325,871	$ 279,820

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Class A Stock	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Balance at Dec. 31, 2011	$ 485,732	$ 2	$ 91	$ 1,754,824	$ (1,267,323)	$ (1,862)
Balance (shares) at Dec. 31, 2011		2,109	90,692
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock in connection with exercise of stock options	48,440		$ 4	48,436
Issuance of Common Stock in connection with exercise of stock options (shares)			3,773
Common Stock tendered upon exercise of stock options in connection with employee tax obligations	(71,475)		$ (1)	(71,474)
Common Stock tendered upon exercise of stock options in connection with employee tax obligations (shares)			(639)
Issuance of Common Stock in connection with Company 401(k) Savings Plan contribution
Issuance of Common Stock in connection with Company 401(k) Savings Plan contribution (shares)			64
Issuance of restricted Common Stock under Long-Term Incentive Plan (shares)			500
Conversion of Class A Stock to Common Stock (shares)		(20)	20
Stock-based compensation charges	$ 63,507			63,507
Net income	279,862				279,862
Other comprehensive income (loss)	(42)					(42)
Balance at Sep. 30, 2012	806,024	$ 2	$ 94	1,795,293	(987,461)	(1,904)
Balance (shares) at Sep. 30, 2012		2,089	94,410
Balance at Dec. 31, 2012	1,245,385	$ 2	$ 95	1,763,508	(517,054)	(1,166)
Balance (shares) at Dec. 31, 2012		2,069	95,223
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Common Stock in connection with exercise of stock options	42,625		$ 3	42,622
Issuance of Common Stock in connection with exercise of stock options (shares)			2,641
Common Stock tendered upon exercise of stock options in connection with employee tax obligations	(166,358)		$ (1)	(166,357)
Common Stock tendered upon exercise of stock options in connection with employee tax obligations (shares)			(597)
Issuance of Common Stock in connection with Company 401(k) Savings Plan contribution
Issuance of Common Stock in connection with Company 401(k) Savings Plan contribution (shares)			38
Issuance of restricted Common Stock under Long-Term Incentive Plan (shares)			6
Conversion of Class A Stock to Common Stock (shares)		(40)	40
Stock-based compensation charges	$ 144,808			144,808
Excess tax benefit from stock-based compensation	97,840			97,840
Net income	327,556				327,556
Other comprehensive income (loss)	(1,685)					(1,685)
Balance at Sep. 30, 2013	$ 1,690,171	$ 2	$ 97	$ 1,882,421	$ (189,498)	$ (2,851)
Balance (shares) at Sep. 30, 2013		2,029	97,351

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Cash flows from operating activities:
Net income	$ 327,556	$ 279,862
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	29,912	27,162
Non-cash compensation expense	143,217	63,385
Non-cash interest expense	17,316	17,009
Other non-cash charges and expenses, net	15,710	13,636
Deferred taxes	82,890
Changes in assets and liabilites
Increase in Sanofi and trade accounts receivable	(299,704)	(498,236)
Increase in prepaid expenses and other assets	(84,109)	(71,244)
Decrease in deferred revenue	(20,815)	(28,605)
(Decrease) increase in accounts payable, accrued expenses and other liabilities	94,894	29,231
Total adjustments	(20,689)	(447,662)
Net cash provided by (used in) operating activities	306,867	(167,800)
Cash flows from investing activities:
Purchases of marketable securities	(477,312)	(398,253)
Sales or maturities of marketable securities	319,152	260,770
Purchase of restricted cash and marketable securities		(518)
Capital expenditures	(87,347)	(34,175)
Net cash used in by investing activities	(245,507)	(172,176)
Cash flows from financing activities:
Payments in connection with facility and capital lease obligations	(1,625)	(1,601)
Proceeds from issuance of Common Stock	41,718	48,440
Payments in connection with Common Stock tendered for employee tax obligations	(166,358)	(71,475)
Excess tax benefit from stock-based compensation	97,840
Net cash used in financing activities	(28,425)	(24,636)
Net increase (decrease) in cash and cash equivalents	32,935	(364,612)
Cash and cash equivalents at beginning of period	230,276	483,610
Cash and cash equivalents at end of period	$ 263,211	$ 118,998

Interim Financial Statements	9 Months Ended
Interim Financial Statements	Sep. 30, 2013
Quarterly Financial Data [Abstract]
Interim Financial Statements	Interim Financial Statements The interim Condensed Consolidated Financial Statements of Regeneron Pharmaceuticals, Inc. (“Regeneron” or the “Company”) have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information and disclosures necessary for a presentation of the Company’s financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States of America. In the opinion of management, these financial statements reflect all normal recurring adjustments and accruals necessary for a fair statement of the Company’s financial position, results of operations, and cash flows for such periods. The results of operations for any interim periods are not necessarily indicative of the results for the full year. The December 31, 2012 Condensed Consolidated Balance Sheet data were derived from audited financial statements, but do not include all disclosures required by accounting principles generally accepted in the United States of America. These financial statements should be read in conjunction with the financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. Certain reclassifications have been made to prior period amounts to conform with the current period’s presentation.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

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+ Details

Net Product Sales

9 Months Ended

Sep. 30, 2013

Revenues [Abstract]

Net Product Sales

EYLEA^® net product sales in the United States totaled $363.1 million and $244.4 million for the three months ended September 30, 2013 and 2012, respectively, and $1,006.8 million and $561.9 million for the nine months ended September 30, 2013 and 2012, respectively. In November 2011, the Company received marketing approval from the U.S. Food and Drug Administration ("FDA") for EYLEA (aflibercept) Injection for the treatment of neovascular age-related macular degeneration ("wet AMD"). In September 2012, the Company received marketing approval from the FDA for EYLEA for the treatment of macular edema following central retinal vein occlusion ("CRVO"). In addition, ARCALYST^® net product sales totaled $4.0 million and $4.8 million for the three months ended September 30, 2013 and 2012, respectively, and $12.9 million and $14.7 million for the nine months ended September 30, 2013 and 2012, respectively.

The Company recorded 75% and 79% for the three months ended September 30, 2013 and 2012, respectively, and 76% and 79% for the nine months ended September 30, 2013 and 2012, respectively, of its total gross product revenue from sales to Besse Medical, a subsidiary of AmerisourceBergen Corporation.

Revenue from product sales is recorded net of applicable provisions for rebates and chargebacks under governmental programs (including Medicaid), distribution-related fees, prompt pay discounts, product returns, and other sales-related deductions. The following table summarizes the provisions, and credits/payments, for these sales-related deductions during the nine months ended September 30, 2013.



	Rebates & Chargebacks			Distribution- Related Fees			Other Sales- Related Deductions			Total
Balance as of December 31, 2012	$	2,983		$	15,298		$	545		$	18,826
Provision related to current period sales	18,216			46,428			882			65,526
Credits/payments	(17,166		)	(41,532		)	(894		)	(59,592		)
Balance as of September 30, 2013	$	4,033		$	20,194		$	533		$	24,760

Collaboration Revenue

9 Months Ended

Sep. 30, 2013

Collaboration Revenue Disclosure [Abstract]

Collaborative Arrangement Disclosure

Collaboration Revenue

Sanofi Collaboration Revenue

The collaboration revenue the Company earned from Sanofi, as detailed below, consisted primarily of reimbursement for research and development expenses that the Company incurred, the Company's share of losses in connection with Sanofi's commercialization of ZALTRAP^®, recognition of a substantive milestone payment in the third quarter of 2012 related to FDA approval of ZALTRAP, and revenue related to non-refundable up-front payments.

In addition, Sanofi collaboration revenue for the nine months ended September 30, 2013 was reduced by two $10.0 million up-front payments to Sanofi in connection with the Company's acquisition from Sanofi of full exclusive rights to two families of novel antibodies, as described below.



	Three months ended September 30,
Sanofi Collaboration Revenue	2013			2012
ZALTRAP:
Regeneron's share of losses in connection with commercialization of ZALTRAP	$	(6,575	)	$	(7,390	)
Substantive milestone payment				50,000
Reimbursement of Regeneron research and development and other expenses	2,557			2,079
Recognition of deferred revenue related to up-front payments	1,384			2,889
Total ZALTRAP	(2,634		)	47,578
Antibody:
Reimbursement of Regeneron research and development expenses	134,432			94,903
Recognition of deferred revenue related to up-front and other payments	2,162			2,162
Recognition of revenue related to VelociGene^® agreement	399			399
Total Antibody	136,993			97,464
Total Sanofi collaboration revenue	$	134,359		$	145,042



	Nine months ended September 30,
Sanofi Collaboration Revenue	2013			2012
ZALTRAP:
Regeneron's share of losses in connection with commercialization of ZALTRAP	$	(22,581	)	$	(19,525	)
Substantive milestone payment				50,000
Reimbursement of Regeneron research and development and other expenses	7,955			9,124
Recognition of deferred revenue related to up-front payments	4,152			8,260
Total ZALTRAP	(10,474		)	47,859
Antibody:
Reimbursement of Regeneron research and development expenses	341,952			263,504
Up-front payments to Sanofi for acquisition of rights related to two antibodies	(20,000		)
Recognition of deferred revenue related to up-front and other payments	6,486			6,475
Recognition of revenue related to VelociGene agreement	1,197			1,197
Total Antibody	329,635			271,176
Total Sanofi collaboration revenue	$	319,161		$	319,035

Sanofi commenced sales of ZALTRAP (ziv-aflibercept) Injection for Intravenous Infusion, in combination with 5-fluorouracil, leucovorin, irinotecan ("FOLFIRI"), for patients with metastatic colorectal cancer (“mCRC”) that is resistant to or has progressed following an oxaliplatin-containing regimen, in the United States in the third quarter of 2012 and in certain European and other countries in the first quarter of 2013. The Company and Sanofi globally collaborate on the development and commercialization of ZALTRAP. Under the terms of the companies' September 2003 collaboration agreement, as amended, Regeneron and Sanofi share co-promotion rights and profits and losses on sales of ZALTRAP outside of Japan. In Japan, the Company is entitled to a royalty on sales of ZALTRAP.

Acquisition from Sanofi of Rights to PDGF and Ang2 in Ophthalmology

In May 2013, the Company acquired from Sanofi full exclusive rights to two families of novel antibodies invented at Regeneron and previously included in the Company's antibody collaboration with Sanofi. The Company acquired full rights to antibodies targeting the PDGF (platelet derived growth factor) family of receptors and ligands in ophthalmology and all other indications and to antibodies targeting the Ang2 (angiopoietin-2) receptor and ligand in ophthalmology. Antibodies to the PDGF receptor and Ang2 are currently in preclinical development for use in ophthalmology.

With respect to PDGF antibodies, the Company made a $10.0 million up-front payment to Sanofi in the second quarter of 2013, and is obligated to pay up to $40 million in potential development milestone payments and royalties on any future sales. With respect to Ang2 antibodies in ophthalmology, the Company also made a $10.0 million up-front payment to Sanofi in the second quarter of 2013, and is obligated to pay a potential $5 million development milestone payment and royalties on any future sales.

Bayer HealthCare Collaboration Revenue

Bayer HealthCare commenced sales of EYLEA for the treatment of wet AMD in the fourth quarter of 2012 following receipt of regulatory approvals in the European Union and other regions. The Company and Bayer HealthCare globally collaborate on the development and commercialization of EYLEA outside of the United States.

The collaboration revenue the Company earned from Bayer HealthCare is detailed below:



	Three months ended September 30,
Bayer HealthCare Collaboration Revenue	2013		2012
Regeneron's net profit in connection with commercialization of EYLEA outside the United States	$	31,769
Sales and substantive development milestone payments	45,000		$	15,000
Cost-sharing of Regeneron EYLEA development expenses	4,844		9,724
Reimbursement of other Regeneron EYLEA expenses	4,993
Recognition of deferred revenue related to up-front and other milestone payments	1,977		1,977
	$	88,583	$	26,701



	Nine months ended September 30,
Bayer HealthCare Collaboration Revenue	2013		2012
Regeneron's net profit in connection with commercialization of EYLEA outside the United States	$	57,186
Sales and substantive development milestone payments	45,000		$	15,000
Cost-sharing of Regeneron EYLEA development expenses	14,482		27,377
Reimbursement of other Regeneron EYLEA expenses	11,995
Recognition of deferred revenue related to up-front and other milestone payments	5,931		5,931
	$	134,594	$	48,308

In the third quarter of 2013, the Company earned a $15.0 million substantive development milestone payment from Bayer HealthCare upon receipt of marketing approval in the European Union for EYLEA for the treatment of macular edema secondary to CRVO. In addition, the Company earned, and recorded as revenue in the third quarter of 2013, two $15.0 million sales milestone payments from Bayer HealthCare upon total aggregate net sales of EYLEA outside the United States exceeding $200 million and $300 million, respectively, over a twelve-month period. In the third quarter of 2012, the Company earned a $15.0 million substantive development milestone payment from Bayer HealthCare upon receipt of marketing approval in Japan for EYLEA for the treatment of wet AMD. The Company may receive an additional $10 million milestone payment related to pricing approval of EYLEA for CRVO in the first major market country outside the United States, and can earn up to $105 million in additional sales milestone payments if twelve-month net sales of EYLEA outside the United States achieve certain specified levels up to $1 billion.

Net Income Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Net Income Per Share

The Company’s basic net income per share amounts have been computed by dividing net income by the weighted average number of shares of Common Stock and Class A Stock outstanding. Net income per share is presented on a combined basis, inclusive of Common Stock and Class A Stock outstanding, as each class of stock has equivalent economic rights. Diluted net income per share includes the potential dilutive effect of other securities as if such securities were converted or exercised during the period, when the effect is dilutive. The calculations of basic and diluted net income per share are as follows:



	Three Months Ended
	September 30,
	2013		2012
Net income - basic	$	141,306	$	191,468
Effect of dilutive securities:
Convertible senior notes - interest expense related to contractual coupon interest rate and amortization of discount and note issuance costs	4,678		7,374
Net income - diluted	$	145,984	$	198,842

(Shares in thousands)
Weighted average shares - basic	98,226		95,012
Effect of dilutive securities:
Stock options	10,379		14,106
Restricted stock	462		797
Convertible senior notes	4,761		4,761
Warrants	2,885		1,154
Dilutive potential shares	18,487		20,818
Weighted average shares - diluted	116,713		115,830

Net income per share - basic	$	1.44	$	2.02
Net income per share - diluted	$	1.25	$	1.72



	Nine Months Ended
	September 30,
	2013		2012
Net income - basic	$	327,556	$	279,862
Effect of dilutive securities:
Convertible senior notes - interest expense related to contractual coupon interest rate and amortization of discount and note issuance costs	13,857
Net income - diluted	$	341,413	$	279,862

(Shares in thousands)
Weighted average shares - basic	97,602		94,349
Effect of dilutive securities:
Stock options	10,220		14,080
Restricted stock	415		699
Convertible senior notes	4,761
Warrants	2,556		652
Dilutive potential shares	17,952		15,431
Weighted average shares - diluted	115,554		109,780

Net income per share - basic	$	3.36	$	2.97
Net income per share - diluted	$	2.95	$	2.55

Shares which have been excluded from the September 30, 2013 and 2012 diluted per share amounts because their effect would have been antidilutive, include the following:



	Nine Months Ended
	September 30,
(Shares in thousands)	2013	2012
Stock options	1,265	91
Convertible senior notes		4,761

Marketable Securities

9 Months Ended

Sep. 30, 2013

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Marketable securities at September 30, 2013 and December 31, 2012 consist of debt and equity securities primarily issued by investment grade institutions. The Company also held restricted marketable securities at December 31, 2012, which consisted of debt securities, as detailed below, that collateralized letters of credit and lease obligations. During the second quarter of 2013, these collateral requirements were rescinded, either due to cancellation of the associated letter of credit or easing of lender requirements on the Company. As a result, during the second quarter of 2013, all formerly restricted marketable securities were reclassified as unrestricted on the Company's balance sheet which, for the purpose of the Company's Statement of Cash Flows, was treated as a non-cash investing transaction.

The following tables summarize the Company's investments in marketable securities at September 30, 2013 and December 31, 2012.



	Amortized		Unrealized					Fair
At September 30, 2013	Cost Basis		Gains		Losses			Value
Unrestricted
U.S. government and government agency obligations	$	106,788	$	55	$	(54	)	$	106,789
Corporate bonds	303,206		128		(140		)	303,194
Commercial paper	57,046		72					57,118
Municipal bonds	26,798		34		(9		)	26,823
International government agency obligations	8,308				(4		)	8,304
Certificates of deposit	7,503		2					7,505
Equity securities	4,044				(1,802		)	2,242
	$	513,693	$	291	$	(2,009	)	$	511,975



At December 31, 2012
Unrestricted
U.S. government and government agency obligations	$	327,502	$	661	$	(17	)	$	328,146
Municipal bonds	17,542				(32		)	17,510
Equity securities	4,044				(651		)	3,393
	349,088		661		(700		)	349,049
Restricted
U.S. government obligations	5,902		9		(2		)	5,909
	$	354,990	$	670	$	(702	)	$	354,958

The Company classifies its debt securities based on their contractual maturity dates. The debt securities listed at September 30, 2013 mature at various dates through August 2024. The fair values of debt security investments by contractual maturity as of September 30, 2013 and December 31, 2012 consist of the following:



	September 30,		December 31,
	2013		2012
Unrestricted
Maturities within one year	$	182,112	$	77,819
Maturities after one year through five years	322,314		267,837
Maturities after five years through ten years	4,132
Maturities after ten years	1,175
	509,733		345,656
Restricted
Maturities within one year			2,781
Maturities after one year through five years			3,128
			5,909
	$	509,733	$	351,565

The following table shows the fair value of the Company’s marketable securities that have unrealized losses and that are deemed to be only temporarily impaired, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, at September 30, 2013 and December 31, 2012.



	Less than 12 Months					12 Months or Greater					Total
At September 30, 2013	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Unrestricted
U.S. government and government agency obligations	$	57,612	$	(54	)						$	57,612	$	(54	)
Corporate bonds	157,200		(140		)						157,200		(140		)
Municipal bonds	7,504		(9		)						7,504		(9		)
International government agency obligations	8,303		(4		)						8,303		(4		)
Equity securities						$	2,242	$	(1,802	)	2,242		(1,802		)
	$	230,619	$	(207	)	$	2,242	$	(1,802	)	$	232,861	$	(2,009	)

At December 31, 2012
Unrestricted
U.S. government and government agency obligations	$	44,738	$	(17	)						$	44,738	$	(17	)
Municipal bonds	17,510		(32		)						17,510		(32		)
Equity securities						$	3,393	$	(651	)	3,393		(651		)
	62,248		(49		)	3,393		(651		)	65,641		(700		)
Restricted
U.S. government obligations	1,194		(2		)						1,194		(2		)
	$	63,442	$	(51	)	$	3,393	$	(651	)	$	66,835	$	(702	)

Realized gains and losses are included as a component of investment income. For the three and nine months ended September 30, 2013, total realized gains on sales of marketable securities were $0.5 million and $1.0 million respectively, and there were no realized losses. For both the three and nine months ended September 30, 2012, total realized gains and losses on sales of marketable securities were not material.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-Glossary Debt Security
-URI http://asc.fasb.org/extlink&oid=6509901

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-Glossary Equity Security
-URI http://asc.fasb.org/extlink&oid=6511694

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 5
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 3, 19, 20, 21, 22, 137
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Fair Value Measurements

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements

The Company’s assets that are measured at fair value on a recurring basis, at September 30, 2013 and December 31, 2012, consist of the following:



			Fair Value Measurements at Reporting Date Using
At September 30, 2013	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Unrestricted
Available-for-sale marketable securities:
U.S. government and government agency obligations	$	106,789			$	106,789
Corporate bonds	303,194				303,194
Commercial paper	57,118				57,118
Municipal bonds	26,823				26,823
International government agency obligations	8,304				8,304
Certificates of deposit	7,505				7,505
Equity securities	2,242		$	2,242
	$	511,975	$	2,242	$	509,733

At December 31, 2012
Unrestricted
Available-for-sale marketable securities:
U.S. government and government agency obligations	$	328,146			$	328,146
Municipal bonds	17,510				17,510
Equity securities	3,393		$	3,393
	349,049		3,393		345,656
Restricted
Available-for-sale marketable securities:
U.S. government obligations	5,909				5,909
	$	354,958	$	3,393	$	351,565

Marketable securities included in Level 2 were valued using a market approach utilizing prices and other relevant information, such as interest rates, yield curves, prepayment speeds, loss severities, credit risks, and default rates, generated by market transactions involving identical or comparable assets. The Company considers market liquidity in determining the fair value for these securities. The Company did not record any charges for other-than-temporary impairment of its Level 2 marketable securities during the three and nine months ended September 30, 2013 and 2012.

In 2012 and through the six months ended June 30, 2013, the Company held only one Level 3 marketable security whose cost basis was zero, as the security had been fully impaired prior to 2012. During the three months ended September 30, 2013, the Company sold this Level 3 marketable security and realized a $0.4 million gain on its sale. There were no purchases or maturities of Level 3 marketable securities and no unrealized gains or losses related to Level 3 marketable securities for the three and nine months ended September 30, 2013 and 2012. There were no transfers of marketable securities between Levels 1, 2, or 3 classifications during the three and nine months ended September 30, 2013 and 2012. At September 30, 2013, the Company held no Level 3 marketable securities.

As of September 30, 2013 and December 31, 2012, the Company had $400.0 million in aggregate principal amount of 1.875% convertible senior notes that will mature on October 1, 2016 unless earlier converted or repurchased. The fair value of the outstanding convertible senior notes was estimated to be $1,486.4 million and $843.2 million as of September 30, 2013 and December 31, 2012, respectively, and was determined based on Level 2 inputs.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
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-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Inventory

9 Months Ended

Sep. 30, 2013

Inventory Disclosure [Abstract]

Inventory

Inventory, which was included in prepaid expenses and other current assets in the Company's balance sheets, consists of the following:



	September 30,		December 31,
	2013		2012
Raw materials	$	5,225	$	4,862
Work-in-process	34,837		14,656
Finished goods	12,322		2,570
Deferred costs	10,908		6,550
	$	63,292	$	28,638

Deferred costs represent the costs of product manufactured and shipped to the Company's collaborators for which recognition of revenue has been deferred.

As of September 30, 2013 and December 31, 2012, inventory included reserves of $5.1 million and $3.6 million, respectively. For the nine months ended September 30, 2013 and 2012, cost of goods sold included inventory write-downs and reserves totaling $4.8 million and $8.6 million, respectively. For the three months ended September 30, 2013 and 2012, inventory write-downs and reserves included in cost of goods sold were not material.

Accounts Payable and Accrued Expenses

9 Months Ended

Sep. 30, 2013

Payables and Accruals [Abstract]

Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consist of the following:



	September 30,		December 31,
	2013		2012
Accounts payable	$	31,194	$	38,934
Accrued payroll and related costs	68,928		19,987
Accrued clinical trial expense	24,407		10,985
Accrued sales-related charges, deductions, and royalties	56,290		21,870
Other accrued expenses and liabilities	38,319		19,569
	$	219,138	$	111,345

With respect to non-cash investing activities in connection with the Company's Statements of Cash Flows, included in accounts payable and accrued expenses at September 30, 2013 and December 31, 2012 were $18.4 million and $8.6 million, respectively, of accrued capital expenditures. Included in accounts payable and accrued expenses at September 30, 2012 and December 31, 2011 were $7.0 million and $6.2 million, respectively, of accrued capital expenditures.

Leases	9 Months Ended
Leases	Sep. 30, 2013
Leases [Abstract]
Leases of Lessee Disclosure [Text Block]	Leases In April 2013, the Company entered into a new lease agreement for additional laboratory and office space to be constructed in two new buildings (the "Buildings"), which are expected to be completed in late 2015, at the Company's current Tarrytown, New York location. The initial term of the lease, which is expected to commence in mid-2014, is approximately 15 years and contains three renewal options to extend the term of the lease by five years each. The lease provides for (i) monthly payments over its term, which will be based on the landlord's costs of construction and tenant allowances, and (ii) additional charges for utilities, taxes, and operating expenses. Based upon various factors, including the Company's involvement in the Buildings' construction and its responsibility for directly paying for a substantial portion of tenant improvements, the Company is deemed, in substance, to be the owner of the landlord's Buildings in accordance with the application of FASB authoritative guidance. Consequently, in addition to capitalizing the tenant improvements, the Company capitalizes the landlord's costs of constructing these new facilities, offset by a corresponding lease obligation on the Company's balance sheet. The Company will allocate a portion of its future lease payments to the Buildings and the land on which the Buildings are being constructed. The land element of the lease is treated for accounting purposes as an operating lease. Commencing in the second quarter of 2013, the Company began capitalizing the landlord's costs of constructing the new Buildings, which totaled $7.7 million at September 30, 2013, and recognized a corresponding facility lease obligation of $7.7 million. Such amounts were included as a non-cash activity within the Company's Condensed Consolidated Statements of Cash Flows. Rent expense in connection with the land element of these new facilities commenced in April 2013 and is recorded as a deferred liability until lease payments commence in mid-2014. In April 2013, the Company also executed an early renewal of certain laboratory and office space that it currently leases at its Tarrytown location. The early renewal extended the term of the lease from June 2024 to June 2029.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References + Details

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2013
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company is subject to U.S. federal, state, and foreign income taxes. The Company's effective tax rate for the three and nine months ended September 30, 2013 was 37.4% and 36.4%, respectively. The nine month effective tax rate included, as a discrete item, the favorable impact of the enactment of The American Taxpayer Relief Act in January 2013. The American Taxpayer Relief Act included a provision to extend the income tax credit for increased research activities retroactively to the tax year ended December 31, 2012, as well as for 2013. As a result, the Company's 2012 research tax credit reduced its effective tax rate for the nine months ended September 30, 2013 by 4.3%. For the three and nine months ended September 30, 2013, the Company recorded an income tax provision of $84.4 million and $187.7 million, respectively. For the three and nine months ended September 30, 2012, income tax expense relating to the Company's pre-tax income was fully offset by a reversal of a portion of the Company's valuation allowance. As of September 30, 2012, the Company continued to recognize a full valuation allowance against its net operating loss carry-forward and other deferred tax assets since the Company had an extended history of losses. In the fourth quarter of 2012, the Company recorded an income tax benefit attributable to the release of substantially all of the remaining valuation allowance against the Company's deferred tax assets. The decision to release this valuation allowance was made after the Company determined that it was more likely than not that these deferred tax assets would be realized. Tax years subsequent to 2009 remain open to examination by federal tax authorities. In addition, New York State has commenced an examination of the Company's 2009, 2010, and 2011 tax years.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Legal Matters	9 Months Ended
Legal Matters	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]
Legal Matters	Legal Matters From time to time, the Company is a party to legal proceedings in the course of the Company’s business. The Company does not expect any such current legal proceedings to have a material adverse effect on the Company’s business or financial condition. Costs associated with the Company’s involvement in legal proceedings are expensed as incurred. License and Settlement Agreements with Genentech On December 31, 2011, the Company entered into a Non-Exclusive License and Partial Settlement Agreement with Genentech (the "Original Genentech Agreement") that covered making, using, and selling EYLEA in the United States for the prevention and treatment of human eye diseases and disorders in the United States, and ended the litigation relating to those matters. Under the Original Genentech Agreement, the Company received a non-exclusive license to the Davis-Smyth patents, and certain other patents owned or co-owned by Genentech. The Original Genentech Agreement did not cover any non-U.S. patent rights or non-U.S. patent disputes, and did not cover any use of aflibercept other than for prevention and treatment of human eye diseases and disorders in the United States. The Original Genentech Agreement provided for the Company to make payments to Genentech based on U.S. sales of EYLEA through May 7, 2016, the date the Davis-Smyth patents expire. Under the Original Genentech Agreement, the Company made a $60.0 million payment when cumulative U.S. sales of EYLEA reached $400 million, and is obligated to pay royalties of 4.75% on cumulative relevant sales of EYLEA between $400 million and $3 billion and 5.5% on any cumulative relevant sales of EYLEA over $3 billion. Effective May 17, 2013, the Company entered into an Amended and Restated Non-Exclusive License and Settlement Agreement with Genentech (the "Amended Genentech Agreement"), which amended the Original Genentech Agreement to now include all sales of EYLEA worldwide and ended the litigation relating to those matters. Under the Amended Genentech Agreement, the Company received a worldwide non-exclusive license to the Davis-Smyth patents, and certain other patents, owned or co-owned by Genentech for the prevention or treatment of eye diseases and eye disorders in a human through administration of EYLEA to the eye. Under the Amended Genentech Agreement, the Company is obligated to make payments to Genentech based on sales of EYLEA in the United States, and EYLEA manufactured in the United States and sold outside the United States, through May 7, 2016 using the same milestone and royalty rates as in the Original Genentech Agreement. EYLEA is sold outside the United States by affiliates of Bayer HealthCare under the Company's license and collaboration agreement. All payments to Genentech under the Original Genentech Agreement and the Amended Genentech Agreement have been or will be made by the Company. Bayer HealthCare will share in all such payments based on the proportion of ex-U.S. EYLEA sales to worldwide EYLEA sales and determined consistent with the license and collaboration agreement. Also on May 17, 2013, the Company entered into a Non-Exclusive License and Settlement Agreement (the "ZALTRAP Agreement") with Genentech and Sanofi under which the Company and Sanofi received a worldwide non-exclusive license to the Davis-Smyth patents, and certain other patents, in all indications for human use other than the prevention or treatment of eye diseases and eye disorders through administration to the eye. Under the terms of the ZALTRAP Agreement, payments are required to be made to Genentech based on sales of ZALTRAP in the United States and of ZALTRAP that is manufactured in the United States and sold outside the United States through May 7, 2016. A payment of $19 million is required to be made upon cumulative relevant sales of ZALTRAP reaching $200 million. In addition, royalty payments are required to be made to Genentech based upon 4.5% of cumulative relevant sales of ZALTRAP between $400 million and $1 billion and 6.5% of any cumulative relevant sales of ZALTRAP over $1 billion. All payments to Genentech under the ZALTRAP Agreement will be made by Sanofi, and the Company will share in all such payments.

Net Product Sales (Policies)	9 Months Ended
Net Product Sales (Policies)	Sep. 30, 2013
Accounting Policies [Abstract]
Revenue Recognition, Revenue Reductions	Revenue from product sales is recorded net of applicable provisions for rebates and chargebacks under governmental programs (including Medicaid), distribution-related fees, prompt pay discounts, product returns, and other sales-related deductions.

- Definition

Disclosure of accounting policy of sales arrangements for goods or services that reduce the amount of revenue recognized for example sales returns, allowances, incentives, rebates, discounts and loyalty programs.

+ References + Details

Legal Matters (Policies)	9 Months Ended
Legal Matters (Policies)	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]
Legal Costs, Policy	Costs associated with the Company’s involvement in legal proceedings are expensed as incurred.

Net Product Sales (Tables)

9 Months Ended

Sep. 30, 2013

Revenues [Abstract]

Sales Related Deductions Activity

The following table summarizes the provisions, and credits/payments, for these sales-related deductions during the nine months ended September 30, 2013.



	Rebates & Chargebacks			Distribution- Related Fees			Other Sales- Related Deductions			Total
Balance as of December 31, 2012	$	2,983		$	15,298		$	545		$	18,826
Provision related to current period sales	18,216			46,428			882			65,526
Credits/payments	(17,166		)	(41,532		)	(894		)	(59,592		)
Balance as of September 30, 2013	$	4,033		$	20,194		$	533		$	24,760

Collaboration Revenue (Tables)

9 Months Ended

Sep. 30, 2013

Revenue Recognition, Multiple-deliverable Arrangements [Line Items]

collaboration revenue with related party



	Three months ended September 30,
Sanofi Collaboration Revenue	2013			2012
ZALTRAP:
Regeneron's share of losses in connection with commercialization of ZALTRAP	$	(6,575	)	$	(7,390	)
Substantive milestone payment				50,000
Reimbursement of Regeneron research and development and other expenses	2,557			2,079
Recognition of deferred revenue related to up-front payments	1,384			2,889
Total ZALTRAP	(2,634		)	47,578
Antibody:
Reimbursement of Regeneron research and development expenses	134,432			94,903
Recognition of deferred revenue related to up-front and other payments	2,162			2,162
Recognition of revenue related to VelociGene^® agreement	399			399
Total Antibody	136,993			97,464
Total Sanofi collaboration revenue	$	134,359		$	145,042



	Nine months ended September 30,
Sanofi Collaboration Revenue	2013			2012
ZALTRAP:
Regeneron's share of losses in connection with commercialization of ZALTRAP	$	(22,581	)	$	(19,525	)
Substantive milestone payment				50,000
Reimbursement of Regeneron research and development and other expenses	7,955			9,124
Recognition of deferred revenue related to up-front payments	4,152			8,260
Total ZALTRAP	(10,474		)	47,859
Antibody:
Reimbursement of Regeneron research and development expenses	341,952			263,504
Up-front payments to Sanofi for acquisition of rights related to two antibodies	(20,000		)
Recognition of deferred revenue related to up-front and other payments	6,486			6,475
Recognition of revenue related to VelociGene agreement	1,197			1,197
Total Antibody	329,635			271,176
Total Sanofi collaboration revenue	$	319,161		$	319,035

Collaboration revenue

The collaboration revenue the Company earned from Bayer HealthCare is detailed below:



	Three months ended September 30,
Bayer HealthCare Collaboration Revenue	2013		2012
Regeneron's net profit in connection with commercialization of EYLEA outside the United States	$	31,769
Sales and substantive development milestone payments	45,000		$	15,000
Cost-sharing of Regeneron EYLEA development expenses	4,844		9,724
Reimbursement of other Regeneron EYLEA expenses	4,993
Recognition of deferred revenue related to up-front and other milestone payments	1,977		1,977
	$	88,583	$	26,701



	Nine months ended September 30,
Bayer HealthCare Collaboration Revenue	2013		2012
Regeneron's net profit in connection with commercialization of EYLEA outside the United States	$	57,186
Sales and substantive development milestone payments	45,000		$	15,000
Cost-sharing of Regeneron EYLEA development expenses	14,482		27,377
Reimbursement of other Regeneron EYLEA expenses	11,995
Recognition of deferred revenue related to up-front and other milestone payments	5,931		5,931
	$	134,594	$	48,308

Net Income Per Share (Tables)

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Basic and Diluted Net Income Per Share

The calculations of basic and diluted net income per share are as follows:



	Three Months Ended
	September 30,
	2013		2012
Net income - basic	$	141,306	$	191,468
Effect of dilutive securities:
Convertible senior notes - interest expense related to contractual coupon interest rate and amortization of discount and note issuance costs	4,678		7,374
Net income - diluted	$	145,984	$	198,842

(Shares in thousands)
Weighted average shares - basic	98,226		95,012
Effect of dilutive securities:
Stock options	10,379		14,106
Restricted stock	462		797
Convertible senior notes	4,761		4,761
Warrants	2,885		1,154
Dilutive potential shares	18,487		20,818
Weighted average shares - diluted	116,713		115,830

Net income per share - basic	$	1.44	$	2.02
Net income per share - diluted	$	1.25	$	1.72



	Nine Months Ended
	September 30,
	2013		2012
Net income - basic	$	327,556	$	279,862
Effect of dilutive securities:
Convertible senior notes - interest expense related to contractual coupon interest rate and amortization of discount and note issuance costs	13,857
Net income - diluted	$	341,413	$	279,862

(Shares in thousands)
Weighted average shares - basic	97,602		94,349
Effect of dilutive securities:
Stock options	10,220		14,080
Restricted stock	415		699
Convertible senior notes	4,761
Warrants	2,556		652
Dilutive potential shares	17,952		15,431
Weighted average shares - diluted	115,554		109,780

Net income per share - basic	$	3.36	$	2.97
Net income per share - diluted	$	2.95	$	2.55

Antidilutive Securities

Shares which have been excluded from the September 30, 2013 and 2012 diluted per share amounts because their effect would have been antidilutive, include the following:



	Nine Months Ended
	September 30,
(Shares in thousands)	2013	2012
Stock options	1,265	91
Convertible senior notes		4,761

Marketable Securities (Tables)

9 Months Ended

Sep. 30, 2013

Investments, Debt and Equity Securities [Abstract]

Available-for-sale Securities

The following tables summarize the Company's investments in marketable securities at September 30, 2013 and December 31, 2012.



	Amortized		Unrealized					Fair
At September 30, 2013	Cost Basis		Gains		Losses			Value
Unrestricted
U.S. government and government agency obligations	$	106,788	$	55	$	(54	)	$	106,789
Corporate bonds	303,206		128		(140		)	303,194
Commercial paper	57,046		72					57,118
Municipal bonds	26,798		34		(9		)	26,823
International government agency obligations	8,308				(4		)	8,304
Certificates of deposit	7,503		2					7,505
Equity securities	4,044				(1,802		)	2,242
	$	513,693	$	291	$	(2,009	)	$	511,975



At December 31, 2012
Unrestricted
U.S. government and government agency obligations	$	327,502	$	661	$	(17	)	$	328,146
Municipal bonds	17,542				(32		)	17,510
Equity securities	4,044				(651		)	3,393
	349,088		661		(700		)	349,049
Restricted
U.S. government obligations	5,902		9		(2		)	5,909
	$	354,990	$	670	$	(702	)	$	354,958

Marketable Securities, Based on Contractual Maturity Dates

The fair values of debt security investments by contractual maturity as of September 30, 2013 and December 31, 2012 consist of the following:



	September 30,		December 31,
	2013		2012
Unrestricted
Maturities within one year	$	182,112	$	77,819
Maturities after one year through five years	322,314		267,837
Maturities after five years through ten years	4,132
Maturities after ten years	1,175
	509,733		345,656
Restricted
Maturities within one year			2,781
Maturities after one year through five years			3,128
			5,909
	$	509,733	$	351,565

Fair Value and Unrealized Losses of Marketable Securities



	Less than 12 Months					12 Months or Greater					Total
At September 30, 2013	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
Unrestricted
U.S. government and government agency obligations	$	57,612	$	(54	)						$	57,612	$	(54	)
Corporate bonds	157,200		(140		)						157,200		(140		)
Municipal bonds	7,504		(9		)						7,504		(9		)
International government agency obligations	8,303		(4		)						8,303		(4		)
Equity securities						$	2,242	$	(1,802	)	2,242		(1,802		)
	$	230,619	$	(207	)	$	2,242	$	(1,802	)	$	232,861	$	(2,009	)

At December 31, 2012
Unrestricted
U.S. government and government agency obligations	$	44,738	$	(17	)						$	44,738	$	(17	)
Municipal bonds	17,510		(32		)						17,510		(32		)
Equity securities						$	3,393	$	(651	)	3,393		(651		)
	62,248		(49		)	3,393		(651		)	65,641		(700		)
Restricted
U.S. government obligations	1,194		(2		)						1,194		(2		)
	$	63,442	$	(51	)	$	3,393	$	(651	)	$	66,835	$	(702	)

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27337-111563

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27198-111563

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 19, 20, 21
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 17
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 03-1
-Paragraph 21
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Schedule of assets measured at fair value on a recurring basis

The Company’s assets that are measured at fair value on a recurring basis, at September 30, 2013 and December 31, 2012, consist of the following:



			Fair Value Measurements at Reporting Date Using
At September 30, 2013	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Unrestricted
Available-for-sale marketable securities:
U.S. government and government agency obligations	$	106,789			$	106,789
Corporate bonds	303,194				303,194
Commercial paper	57,118				57,118
Municipal bonds	26,823				26,823
International government agency obligations	8,304				8,304
Certificates of deposit	7,505				7,505
Equity securities	2,242		$	2,242
	$	511,975	$	2,242	$	509,733

At December 31, 2012
Unrestricted
Available-for-sale marketable securities:
U.S. government and government agency obligations	$	328,146			$	328,146
Municipal bonds	17,510				17,510
Equity securities	3,393		$	3,393
	349,049		3,393		345,656
Restricted
Available-for-sale marketable securities:
U.S. government obligations	5,909				5,909
	$	354,958	$	3,393	$	351,565

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring and/or nonrecurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References + Details

Inventory (Tables)

9 Months Ended

Sep. 30, 2013

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventory, which was included in prepaid expenses and other current assets in the Company's balance sheets, consists of the following:



	September 30,		December 31,
	2013		2012
Raw materials	$	5,225	$	4,862
Work-in-process	34,837		14,656
Finished goods	12,322		2,570
Deferred costs	10,908		6,550
	$	63,292	$	28,638

Accounts Payable and Accrued Expenses (Tables)

9 Months Ended

Sep. 30, 2013

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Liabilities

Accounts payable and accrued expenses consist of the following:



	September 30,		December 31,
	2013		2012
Accounts payable	$	31,194	$	38,934
Accrued payroll and related costs	68,928		19,987
Accrued clinical trial expense	24,407		10,985
Accrued sales-related charges, deductions, and royalties	56,290		21,870
Other accrued expenses and liabilities	38,319		19,569
	$	219,138	$	111,345

Net Product Sales (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Net Product Sales (Details) - USD ($) $ in Thousands	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenue Disclosure [Line Items]
Net product sales	$ 367,118	$ 249,172	$ 1,019,751	$ 576,622
Activity of Sales Related Deductions [Roll Forward]
Balance as of December 31, 2012			18,826
Provision related to current period sales			65,526
Credits/payments			(59,592)
Balance as of September 30, 2013	24,760		24,760
Rebates and Chargebacks
Activity of Sales Related Deductions [Roll Forward]
Balance as of December 31, 2012			2,983
Provision related to current period sales			18,216
Credits/payments			(17,166)
Balance as of September 30, 2013	4,033		4,033
Distribution Related Fees
Activity of Sales Related Deductions [Roll Forward]
Balance as of December 31, 2012			15,298
Provision related to current period sales			46,428
Credits/payments			(41,532)
Balance as of September 30, 2013	20,194		20,194
Other Sales Related Deductions
Activity of Sales Related Deductions [Roll Forward]
Balance as of December 31, 2012			545
Provision related to current period sales			882
Credits/payments			(894)
Balance as of September 30, 2013	533		533
EYLEA
Revenue Disclosure [Line Items]
Net product sales	363,100	244,400	1,006,800	561,900
ARCALYST
Revenue Disclosure [Line Items]
Net product sales	$ 4,000	$ 4,800	$ 12,900	$ 14,700
GrossSalesRevenue \| Customer concentration risk
Risks and Uncertainties [Abstract]
Concentration risk, percentage	75.00%	79.00%	76.00%	79.00%

Collaboration Revenue (Details) $ in Thousands	3 Months Ended			9 Months Ended
Collaboration Revenue (Details) $ in Thousands	Sep. 30, 2013 USD ($)	Jun. 30, 2013 USD ($)	Sep. 30, 2012 USD ($)	Sep. 30, 2013 USD ($)	Sep. 30, 2012 USD ($)
Research Collaboration and Licensing Arrangements [Line Items]
Sanofi collaboration revenue	$ 134,359		$ 145,042	$ 319,161	$ 319,035
Bayer HealthCare collaboration revenue	88,583		26,701	$ 134,594	48,308
Antibody Collaboration
Research Collaboration and Licensing Arrangements [Line Items]
Number of up-front payments				2
Number of families of novel antibodies				2
Research and Development Arrangement, Contract to Perform for Others, Compensation Earned	134,432		94,903	$ 341,952	263,504
Research and Development Asset Acquired Other than Through Business Combination, Written-off				(20,000)
Recognition of Deferred Revenue	2,162		2,162	6,486	6,475
Sanofi collaboration revenue	136,993		97,464	329,635	271,176
VelociGene Agreement
Research Collaboration and Licensing Arrangements [Line Items]
Recognition of Deferred Revenue	399		399	1,197	1,197
Collaboration Agreement with Sanofi \| ZALTRAP
Research Collaboration and Licensing Arrangements [Line Items]
Net profit (loss) from commercialization of products under collaboration agreement	(6,575)		(7,390)	(22,581)	(19,525)
Revenue Recognition, Milestone Method, Revenue Recognized			50,000		50,000
Research and Development Arrangement, Contract to Perform for Others, Compensation Earned	2,557		2,079	7,955	9,124
Recognition of Deferred Revenue	1,384		2,889	4,152	8,260
Sanofi collaboration revenue	(2,634)		47,578	(10,474)	47,859
Collaboration Agreement with Bayer HealthCare LLC
Research Collaboration and Licensing Arrangements [Line Items]
Revenue Recognition, Milestone Method, Revenue Recognized	45,000		15,000	45,000	15,000
Maximum amount of substantive milestone payments that may be received in major market countries outside the U S				10,000
Starting specified levels of annual sales at which sales milestone payments may be received, 1st tier				$ 200,000
Number of sales milestones				2
Starting specified levels of annual sales at which sales milestone payments may be received, 2nd tier				$ 300,000
Period for achieving sales target for milestone payment, rolling basis				12 months
Recognition of Deferred Revenue	1,977		1,977	$ 5,931	5,931
Maximum amount of sales milestone payments if total sales achieve specific levels				105,000
Maximum levels of annual sales for which sales milestone payments may be received				1,000,000
Collaboration Agreement with Bayer HealthCare LLC \| EYLEA
Research Collaboration and Licensing Arrangements [Line Items]
Net profit from commercialization of products under collaboration agreement	31,769			57,186
Research and Development Arrangement, Contract to Perform for Others, Compensation Earned	4,844		9,724	14,482	$ 27,377
Reimbursement of commercial expenses	4,993			11,995
Ang2
Research Collaboration and Licensing Arrangements [Line Items]
Research and Development Asset Acquired Other than Through Business Combination, Written-off		$ (10,000)		(10,000)
Substantive Milestone Payments		5,000
PDGF
Research Collaboration and Licensing Arrangements [Line Items]
Research and Development Asset Acquired Other than Through Business Combination, Written-off		(10,000)		$ (10,000)
Substantive Milestone Payments		$ 40,000
Receipt of marketing approval \| Collaboration Agreement with Bayer HealthCare LLC
Research Collaboration and Licensing Arrangements [Line Items]
Revenue Recognition, Milestone Method, Revenue Recognized	15,000
Sales achievement 1st tier \| Collaboration Agreement with Bayer HealthCare LLC
Research Collaboration and Licensing Arrangements [Line Items]
Revenue Recognition, Milestone Method, Revenue Recognized	15,000
Sales achievement 2nd tier \| Collaboration Agreement with Bayer HealthCare LLC
Research Collaboration and Licensing Arrangements [Line Items]
Revenue Recognition, Milestone Method, Revenue Recognized	$ 15,000

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Earnings Per Share [Abstract]
Net income	$ 141,306	$ 191,468	$ 327,556	$ 279,862
Interest on Convertible Debt, Net of Tax	4,678	7,374	13,857
Net Income - diluted	$ 145,984	$ 198,842	$ 341,413	$ 279,862
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Weighted average shares - basic (in shares)	98,226	95,012	97,602	94,349
Effect of dilutive securities (in shares):
Stock options	10,379	14,106	10,220	14,080
Restricted stock	462	797	415	699
Convertible senior notes	4,761	4,761	4,761
Warrants	2,885	1,154	2,556	652
Dilutive potential shares	18,487	20,818	17,952	15,431
Weighted average shares - diluted (in shares)	116,713	115,830	115,554	109,780
Earnings Per Share, Basic and Diluted [Abstract]
Net income per share - basic (in dollars per share)	$ 1.44	$ 2.02	$ 3.36	$ 2.97
Net income per share - diluted (in dollars per share)	$ 1.25	$ 1.72	$ 2.95	$ 2.55
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average number of shares	135	175	1,265	91
Convertible senior notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average number of shares				4,761

Marketable Securities (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Gross Realized Gains	$ 500	$ 1,000
Amortized Cost Basis			$ 354,990
Unrealized Gains			670
Unrealized (Losses)			(702)
Available-for-sale Securities, Fair Value Disclosure			354,958
Available-for-sale Securities, Debt Maturities, Fair Value [Abstract]
Total	509,733	509,733	351,565
Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value - Less than 12 Months			63,442
Fair Value - 12 Months or Greater			3,393
Fair Value - Total			66,835
Continuous Unrealized Loss Position, Aggregate Losses [Abstract]
Unrealized Loss - Less than 12 months			(51)
Unrealized Loss - 12 Months or Greater			(651)
Unrealized Loss - Total			(702)
Available-for-sale Securities, Gross Realized Losses	0	0
Unrestricted
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	513,693	513,693	349,088
Unrealized Gains	291	291	661
Unrealized (Losses)	(2,009)	(2,009)	(700)
Available-for-sale Securities, Fair Value Disclosure	511,975	511,975	349,049
Available-for-sale Securities, Debt Maturities, Fair Value [Abstract]
Maturities within one year	182,112	182,112	77,819
Maturities after one year through five years	322,314	322,314	267,837
Available-for-sale Securities, Debt Maturities, Year Six Through Ten, Fair Value	4,132	4,132
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value	1,175	1,175
Total	509,733	509,733	345,656
Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value - Less than 12 Months	230,619	230,619	62,248
Fair Value - 12 Months or Greater	2,242	2,242	3,393
Fair Value - Total	232,861	232,861	65,641
Continuous Unrealized Loss Position, Aggregate Losses [Abstract]
Unrealized Loss - Less than 12 months	(207)	(207)	(49)
Unrealized Loss - 12 Months or Greater	(1,802)	(1,802)	(651)
Unrealized Loss - Total	(2,009)	(2,009)	(700)
Restricted
Available-for-sale Securities, Debt Maturities, Fair Value [Abstract]
Maturities within one year			2,781
Maturities after one year through five years			3,128
Total			5,909
U.S. government and government agency obligations \| Unrestricted
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	106,788	106,788	327,502
Unrealized Gains	55	55	661
Unrealized (Losses)	(54)	(54)	(17)
Available-for-sale Securities, Fair Value Disclosure	106,789	106,789	328,146
Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value - Less than 12 Months	57,612	57,612	44,738
Fair Value - Total	57,612	57,612	44,738
Continuous Unrealized Loss Position, Aggregate Losses [Abstract]
Unrealized Loss - Less than 12 months	(54)	(54)	(17)
Unrealized Loss - Total	(54)	(54)	(17)
Corporate bond \| Unrestricted
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	303,206	303,206
Unrealized Gains	128	128
Unrealized (Losses)	(140)	(140)
Available-for-sale Securities, Fair Value Disclosure	303,194	303,194
Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value - Less than 12 Months	157,200	157,200
Fair Value - Total	157,200	157,200
Continuous Unrealized Loss Position, Aggregate Losses [Abstract]
Unrealized Loss - Less than 12 months	(140)	(140)
Unrealized Loss - Total	(140)	(140)
Commercial paper \| Unrestricted
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	57,046	57,046
Unrealized Gains	72	72
Unrealized (Losses)
Available-for-sale Securities, Fair Value Disclosure	57,118	57,118
Municipal bonds \| Unrestricted
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	26,798	26,798	17,542
Unrealized Gains	34	34
Unrealized (Losses)	(9)	(9)	(32)
Available-for-sale Securities, Fair Value Disclosure	26,823	26,823	17,510
Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value - Less than 12 Months	7,504	7,504	17,510
Fair Value - Total	7,504	7,504	17,510
Continuous Unrealized Loss Position, Aggregate Losses [Abstract]
Unrealized Loss - Less than 12 months	(9)	(9)	(32)
Unrealized Loss - Total	(9)	(9)	(32)
International government agency obligations \| Unrestricted
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	8,308	8,308
Unrealized Gains
Unrealized (Losses)	(4)	(4)
Available-for-sale Securities, Fair Value Disclosure	8,304	8,304
Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value - Less than 12 Months	8,303	8,303
Fair Value - Total	8,303	8,303
Continuous Unrealized Loss Position, Aggregate Losses [Abstract]
Unrealized Loss - Less than 12 months	(4)	(4)
Unrealized Loss - Total	(4)	(4)
Certificates of deposit \| Unrestricted
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	7,503	7,503
Unrealized Gains	2	2
Unrealized (Losses)
Available-for-sale Securities, Fair Value Disclosure	7,505	7,505
Equity securities \| Unrestricted
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis	4,044	4,044	4,044
Unrealized Gains
Unrealized (Losses)	(1,802)	(1,802)	(651)
Available-for-sale Securities, Fair Value Disclosure	2,242	2,242	3,393
Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value - Less than 12 Months
Fair Value - 12 Months or Greater	2,242	2,242	3,393
Fair Value - Total	2,242	2,242	3,393
Continuous Unrealized Loss Position, Aggregate Losses [Abstract]
Unrealized Loss - Less than 12 months
Unrealized Loss - 12 Months or Greater	(1,802)	(1,802)	(651)
Unrealized Loss - Total	$ (1,802)	$ (1,802)	(651)
U.S. government obligations \| Restricted
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost Basis			5,902
Unrealized Gains			9
Unrealized (Losses)			(2)
Available-for-sale Securities, Fair Value Disclosure			5,909
Continuous Unrealized Loss Position, Fair Value [Abstract]
Fair Value - Less than 12 Months			1,194
Fair Value - Total			1,194
Continuous Unrealized Loss Position, Aggregate Losses [Abstract]
Unrealized Loss - Less than 12 months			(2)
Unrealized Loss - Total			$ (2)

Fair Value Measurements (Details)	3 Months Ended		9 Months Ended
Fair Value Measurements (Details)	Sep. 30, 2013 USD ($)	Sep. 30, 2012 USD ($)	Sep. 30, 2013 USD ($)	Sep. 30, 2012 USD ($)	Jun. 30, 2013 USD ($)	Dec. 31, 2012 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payments to Acquire Marketable Securities			$ 477,312,000	$ 398,253,000
Maturity of Marketable Securities			319,152,000	260,770,000
Available-for-sale Securities, Gross Realized Gains	$ 500,000		1,000,000
Available-for-sale Securities, Fair Value Disclosure						$ 354,958,000
Convertible senior notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total convertible senior notes - par	$ 400,000,000		$ 400,000,000			$ 400,000,000
Interest rate, stated percentage	1.875%		1.875%			1.875%
Fair value of the outstanding notes	$ 1,486,400,000		$ 1,486,400,000			$ 843,200,000
Unrestricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	511,975,000		511,975,000			349,049,000
Measured on a recurring basis \| Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure						354,958,000
Measured on a recurring basis \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure						3,393,000
Measured on a recurring basis \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure						351,565,000
Measured on a recurring basis \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payments to Acquire Marketable Securities	0	$ 0	0	0
Maturity of Marketable Securities	0	0	0	0
Available-for-sale Securities, Gross Realized Gains	400,000
Unrealized Gain (Loss) on Investments	0	$ 0	0	$ 0
Measured on a recurring basis \| Unrestricted \| Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	511,975,000		511,975,000			349,049,000
Measured on a recurring basis \| Unrestricted \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	2,242,000		2,242,000			3,393,000
Measured on a recurring basis \| Unrestricted \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	509,733,000		509,733,000			345,656,000
U.S. government obligations \| Unrestricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	106,789,000		106,789,000			328,146,000
U.S. government obligations \| Measured on a recurring basis \| Unrestricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	106,789,000		106,789,000			328,146,000
U.S. government obligations \| Measured on a recurring basis \| Unrestricted \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	106,789,000		106,789,000			328,146,000
Corporate bond \| Unrestricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	303,194,000		303,194,000
Corporate bond \| Measured on a recurring basis \| Unrestricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	303,194,000		303,194,000
Corporate bond \| Measured on a recurring basis \| Unrestricted \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	303,194,000		303,194,000
Commercial paper \| Unrestricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	57,118,000		57,118,000
Commercial paper \| Measured on a recurring basis \| Unrestricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	57,118,000		57,118,000
Commercial paper \| Measured on a recurring basis \| Unrestricted \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	57,118,000		57,118,000
Municipal bonds \| Unrestricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	26,823,000		26,823,000			17,510,000
Municipal bonds \| Measured on a recurring basis \| Unrestricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	26,823,000		26,823,000			17,510,000
Municipal bonds \| Measured on a recurring basis \| Unrestricted \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	26,823,000		26,823,000			17,510,000
International government agency obligations \| Unrestricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	8,304,000		8,304,000
International government agency obligations \| Measured on a recurring basis \| Unrestricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	8,304,000		8,304,000
International government agency obligations \| Measured on a recurring basis \| Unrestricted \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	8,304,000		8,304,000
Certificates of deposit \| Unrestricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	7,505,000		7,505,000
Certificates of deposit \| Measured on a recurring basis \| Unrestricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	7,505,000		7,505,000
Certificates of deposit \| Measured on a recurring basis \| Unrestricted \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	7,505,000		7,505,000
Equity securities \| Unrestricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	2,242,000		2,242,000			3,393,000
Equity securities \| Measured on a recurring basis \| Unrestricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	2,242,000		2,242,000			3,393,000
Equity securities \| Measured on a recurring basis \| Unrestricted \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure	$ 2,242,000		$ 2,242,000			$ 3,393,000
Equity securities \| Measured on a recurring basis \| Unrestricted \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number Of Marketable Securities Held	0		0		1	1
Available-for-sale Securities, Fair Value Disclosure					$ 0	$ 0
U.S. government obligations \| Restricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure						5,909,000
U.S. government obligations \| Measured on a recurring basis \| Restricted
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure						5,909,000
U.S. government obligations \| Measured on a recurring basis \| Restricted \| Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities, Fair Value Disclosure						$ 5,909,000

Inventory (Details) - USD ($) $ in Thousands	9 Months Ended
Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Inventory Disclosure [Abstract]
Raw materials	$ 5,225		$ 4,862
Work in process	34,837		14,656
Finished goods	12,322		2,570
Deferred costs	10,908		6,550
Total Inventories	63,292		28,638
Inventory reserves	5,100		$ 3,600
Inventory write-downs and reserves	$ 4,800	$ 8,600

- Definition

The amount of the valuation account as of the balance sheet date which reduces the carrying amount of inventory to net realizable value; takes into consideration such factors as market value, excessive quantities based on expected sales, technological obsolescence, and shrinkage. May also provide for estimated product returns or price concessions pertaining to product cost.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 5.BB)
-URI http://asc.fasb.org/extlink&oid=6386940&loc=d3e100047-122729

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.6(a))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SX 210.12-09)
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e24092-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-SubTopic 10
-Section 35
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6386567&loc=d3e3927-108312

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Paragraph 14
-Chapter 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Paragraph 8, 9, 14
-Chapter 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
-Section A
-Paragraph 9
-Chapter 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 09
-Article 12

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 6
-Subparagraph a
-Article 5

+ Details

- Definition

Charge to cost of goods sold that represents the reduction of the carrying amount of inventory, generally attributable to obsolescence or market conditions.

+ References + Details

Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012	Dec. 31, 2011
Accounts Payable and Accrued Liabilities, Current [Abstract]
Accounts payable	$ 31,194	$ 38,934
Accrued payroll and related costs	68,928	19,987
Accrued clinical trial expense	24,407	10,985
Accrued sales-related charges, deductions, and royalties	56,290	21,870
Other accrued expenses and liabilities	38,319	19,569
Accounts payable and accrued expenses	219,138	111,345
Accrued Capital Expenditures	$ 18,400	$ 8,600	$ 7,000	$ 6,200

- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References + Details

Leases (Details) $ in Millions	1 Months Ended
Leases (Details) $ in Millions	Apr. 30, 2013 building	Sep. 30, 2013 USD ($)
Capital Leased Assets [Line Items]
Construction in Progress, Gross		$ 7.7
Facility lease obligation, including reimbursements		$ 7.7
New Laboratory and Office Facilities
Capital Leased Assets [Line Items]
Number of new buildings to be constructed \| building	2
Initial term of lease	15 years
Number of Renewal Options	3
Lease extension terms	5 years

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Operating Loss Carryforwards [Line Items]
Effective Income Tax Rate, Continuing Operations	37.40%		36.40%
Effective Income Tax Rate Reconciliation, Tax Credits, Research			4.30%
Income tax expense	$ (84,378)		$ (187,651)

Legal Matters (Details) - Pending litigation - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2013	May 17, 2013	Dec. 31, 2012
License agreement with Genentech - EYLEA
Loss Contingencies [Line Items]
Cumulative relevant sales (minimum sales target)	$ 400.0
Sales range minimum (1st tier)	$ 400.0
Royalty payment percentage of cumulative sale (1st tier)	4.75%
Sales range maximum (1st tier)	$ 3,000.0
Royalty payment percentage of sales (2nd tier)	5.50%
Cumulative Sales Range (2nd tier)	$ 3,000.0
License agreement with Genentech - EYLEA \| United States
Loss Contingencies [Line Items]
First payment made or may be made upon reaching minimum sales target			$ 60.0
License agreement with Genentech - ZALTRAP \| Global
Loss Contingencies [Line Items]
First payment made or may be made upon reaching minimum sales target		$ 19.0
Cumulative relevant sales (minimum sales target)	200.0
Sales range minimum (1st tier)	$ 400.0
Royalty payment percentage of cumulative sale (1st tier)	4.50%
Sales range maximum (1st tier)	$ 1,000.0
Royalty payment percentage of sales (2nd tier)	6.50%
Cumulative Sales Range (2nd tier)	$ 1,000.0