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Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2012	Feb. 15, 2013	Jun. 29, 2012
Document and Entity Information [Abstract]
Entity Registrant Name	PDL BIOPHARMA, INC.
Document Type	10-K
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		139,982,837
Entity Public Float			$ 925,223,899
Amendment Flag	false
Entity Central Index Key	0000882104
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Document Period End Date	Dec. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Current assets:
Cash and cash equivalents	$ 131,212	$ 168,544
Restricted investment	20,000	0
Short-term investments	17,477	42,301
Receivables from licensees	366	600
Deferred tax assets	1,613	10,054
Notes receivable, net	7,504	0
Prepaid and other current assets	4,813	12,014
Total current assets	182,985	233,513
Property and equipment, net	59	22
Long-term investments	0	17,101
Notes and other long-term receivables	85,704	0
Long-term deferred tax assets	4,552	11,481
Other assets	6,666	7,354
Total assets	279,966	269,471
Current liabilities:
Accounts payable	1,074	528
Accrued legal settlement	0	27,500
Accrued liabilities	9,400	11,609
Current portion of non-recourse notes payable	0	93,370
Total current liabilities	10,474	133,007
Convertible notes payable	309,952	316,615
Other long-term liabilities	27,662	24,122
Total liabilities	348,088	473,744
Commitments and contingencies (Note 11)
Stockholders' deficit:
Preferred stock, par value $0.01 per share, 10,000 shares authorized; no shares issued and outstanding	0	0
Common stock, par value $0.01 per share, 250,000 shares authorized; 139,816 and 139,680 shares issued and outstanding at December 31, 2012 and 2011, respectively	1,398	1,397
Additional paid-in capital	(234,066)	(161,750)
Accumulated other comprehensive loss	(5,088)	(1,885)
Retained earnings (accumulated deficit)	169,634	(42,035)
Total stockholders' deficit	(68,122)	(204,273)
Total liabilities and stockholders' deficit	$ 279,966	$ 269,471

CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Dec. 31, 2012	Dec. 31, 2011
Condensed Consolidated Balance Sheets
Preferred stock par value (in Dollars per Share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in Shares)	10,000	10,000
Preferred stock, shares issued (in Shares)	0	0
Preferred stock, shares outstanding (in Shares)	0	0
Common stock par value (in Dollars per Share)	$ 0.01	$ 0.01
Common stock, shares authorized (in Shares)	250,000	250,000
Common stock, shares issued (in Shares)	139,816	139,680
Common stock, shares outstanding (in Shares)	139,816	139,680

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenues:
Royalties	$ 374,525	$ 351,641	$ 343,475
License and other	0	10,400	1,500
Total revenues	374,525	362,041	344,975
Operating expenses:
General and administrative	25,469	18,338	41,396
Legal settlement	0	0	92,500
Total operating expenses	25,469	18,338	133,896
Operating income	349,056	343,703	211,079
Non-operating expense, net
Loss on retirement or conversion of convertible notes	0	(766)	(17,648)
Interest and other income, net	7,113	593	468
Interest expense	(29,036)	(36,102)	(43,529)
Total non-operating expense, net	(21,923)	(36,275)	(60,709)
Income before income taxes	327,133	307,428	150,370
Income tax expense	115,464	108,039	58,496
Net income	$ 211,669	$ 199,389	$ 91,874
Net Income per Share [Abstract]
Basic (in Dollars per Share)	$ 1.52	$ 1.43	$ 0.73
Diluted (in Dollars per Share)	$ 1.45	$ 1.15	$ 0.54
Weighted average shares outstanding
Basic (in Shares)	139,711	139,663	126,578
Diluted (in Shares)	146,403	177,441	178,801
Cash dividends declared per common share	$ 0.60	$ 0.60	$ 1.00

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Consolidated Statements of Comprehensive Income
Net income	$ 49,408	$ 48,575	$ 73,502	$ 40,184	$ 38,942	$ 45,916	$ 69,986	$ 44,545	$ 211,669	$ 199,389	$ 91,874
Other comprehensive income (loss), net of tax
Unrealized gains (losses) on investments in available-for-sale securities									(22)	30	(1)
Unrealized gains (losses) on cash flow hedges									(3,181)	(5,134)	3,220
Total other comprehensive income (loss), net of tax									(3,203)	(5,104)	3,219
Comprehensive income									$ 208,466	$ 194,285	$ 95,093

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Net of tax amount, before reclassification adjustments, of the change in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Also includes an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss).

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- Definition

Net of tax amount of unrealized holding gain (loss) before reclassification adjustments and transfers on available-for-sale securities.

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+ Details

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Cash flows from operating activities
Net income	$ 211,669	$ 199,389	$ 91,874
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of convertible notes offering costs	12,481	5,386	1,682
Amortization of non-recourse notes offering costs	1,226	4,533	7,238
Other amortization and depreciation expense	946	1,405	330
Loss on retirement or conversion of convertible notes	0	766	17,648
Hedge adjustment - ineffectiveness and reclassifications from OCI for transactions not probable to occur	(257)	0	0
Stock-based compensation expense	937	387	662
Tax benefit (expense) from stock-based compensation arrangements	0	(120)	12,818
Net excess tax benefit from stock-based compensation	(27)	0	(12,924)
Deferred income taxes	11,338	31,217	(5,677)
Changes in assets and liabilities:
Receivables from licensees	234	(131)	581
Prepaid and other current assets	4,138	(199)	1,445
Notes receivable	(2,882)	0	0
Other assets	(1,162)	(6,639)	182
Accounts payable	546	(2,012)	2,170
Accrued legal settlement	(27,500)	(37,500)	65,000
Accrued liabilities	62	239	(26,229)
Other long-term liabilities	(1,533)	(26,939)	27,500
Net cash provided by operating activities	210,216	169,782	184,300
Cash flows from investing activities
Purchases of investments	(29,898)	(74,744)	(46,668)
Maturities of investments	50,831	50,696	9,772
Issuance of notes receivable	(95,300)	0	0
Repayment of notes receivable	5,000	0	0
Purchase of property and equipment	(51)	0	0
Net cash used in investing activities	(69,418)	(24,048)	(36,896)
Cash flows from financing activities
Retirement of convertible notes	0	(133,851)	(108,247)
Repayment of non-recourse notes	(93,370)	(110,900)	(95,730)
Payment of debt issuance costs	(845)	0	0
Net proceeds from the issuance of convertible notes	0	149,712	82,039
Purchase of call options	0	(20,765)	0
Proceeds from issue of warrants	0	10,868	0
Cash dividends paid	(83,942)	(83,828)	(130,043)
Excess tax benefit from stock-based compensation	27	0	12,924
Net cash used in financing activities	(178,130)	(188,764)	(239,057)
Net decrease in cash and cash equivalents	(37,332)	(43,030)	(91,653)
Cash and cash equivalents at beginning of the year	168,544	211,574	303,227
Cash and cash equivalents at end the year	131,212	168,544	211,574
Supplemental cash flow information
Cash paid for income taxes	99,000	83,000	69,000
Cash paid for interest	15,754	25,627	40,622
Supplemental disclosures of non-cash financing activities
Conversion of convertible notes	$ 0	$ 0	$ 111,680

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at beginning of the year at Dec. 31, 2009	$ (415,953)	$ 1,195	$ (83,850)	$ (333,298)	$ 0
Balance at the beginning of year (in Shares) at Dec. 31, 2009		119,522,885
Issuance of common stock for convertible debt	112,875	$ 200	112,675	0	0
Issuance of common stock for convertible debt (in Shares)		19,969,069
Issuance of common stock under employee benefit plans	0	$ 1	(1)	0	0
Issuance of common stock under employee benefit plans (in Shares)		148,198
Stock-based compensation expense for employees	662	$ 0	662	0	0
Tax benefit from employee stock options	12,818	0	12,818	0	0
Dividends declared	(129,677)	0	(129,677)	0	0
Comprehensive income:
Net income	91,874	0	0	91,874	0
Change in unrealized gains and losses on investments in available-for-sale securities, net of tax	(1)	0	0	0	(1)
Change in unrealized gains on cash flow hedges, net of tax	3,220	0	0	0	3,220
Total comprehensive income	95,093	0	0	0	0
Balance at end of the year at Dec. 31, 2010	(324,182)	$ 1,396	(87,373)	(241,424)	3,219
Balance at the end of year (in Shares) at Dec. 31, 2010		139,640,152
Issuance of common stock under employee benefit plans	1	$ 1	0	0	0
Issuance of common stock under employee benefit plans (in Shares)		39,600
Issuance of convertible debt	11,870	$ 0	11,870	0	0
Purchase of purchased call options, net of tax	(13,522)	0	(13,522)	0	0
Proceeds from the sale of warrants	10,868	0	10,868	0	0
Stock-based compensation expense for employees	387	0	387	0	0
Tax benefit from employee stock options	(120)	0	(120)	0	0
Dividends declared	(83,860)	0	(83,860)	0	0
Comprehensive income:
Net income	199,389	0	0	199,389	0
Change in unrealized gains and losses on investments in available-for-sale securities, net of tax	30	0	0	0	30
Change in unrealized gains on cash flow hedges, net of tax	(5,134)	0	0	0	(5,134)
Total comprehensive income	194,285	0	0	0	0
Balance at end of the year at Dec. 31, 2011	(204,273)	$ 1,397	(161,750)	(42,035)	(1,885)
Balance at the end of year (in Shares) at Dec. 31, 2011		139,679,752
Issuance of common stock under employee benefit plans	0	$ 1	(1)	0	0
Issuance of common stock under employee benefit plans (in Shares)		136,507
Issuance of convertible debt	10,692	$ 0	10,692	0	0
Stock-based compensation expense for employees	937	0	937	0	0
Dividends declared	(83,944)	0	(83,944)	0	0
Comprehensive income:
Net income	211,669	0	0	211,669	0
Change in unrealized gains and losses on investments in available-for-sale securities, net of tax	(22)	0	0	0	(22)
Change in unrealized gains on cash flow hedges, net of tax	(3,181)	0	0	0	(3,181)
Total comprehensive income	208,466	0	0	0	0
Balance at end of the year at Dec. 31, 2012	$ (68,122)	$ 1,398	$ (234,066)	$ 169,634	$ (5,088)
Balance at the end of year (in Shares) at Dec. 31, 2012		139,816,259

Organization and Business

12 Months Ended

Dec. 31, 2012

Organization and Business [Abstract]

Organization and Business

1. Organization and Business

PDL BioPharma Inc. (we, us, our, PDL and the Company) pioneered humanization of monoclonal antibodies and, by doing so, enabled the discovery of a new generation of targeted treatments for cancer, immunologic diseases and other conditions. Today, PDL is focused on intellectual property asset management, investing in income generating assets and maximizing the value of its patent portfolio and related assets. We receive royalties based on sales of humanized antibody products marketed today and may also receive royalty payments on additional humanized antibody products launched before final patent expiry in December 2014. Under our licensing agreements, we are entitled to receive a flat-rate or tiered royalty based upon our licensees’ net sales of covered antibodies. We have also entered into licensing agreements under which we have licensed certain rights for development stage products that have not yet reached commercialization including products that are currently in Phase 3 clinical trials.

In the year ended December 31, 2012, we received royalties on sales of the seven humanized antibody products listed below, all of which are currently approved for use by the FDA and other regulatory agencies outside the United States. In the years ended December 31, 2012, 2011 and 2010, we received approximately $374.5 million, $351.6 million and $343.5 million, respectively, of royalty revenues under license agreements.



Licensee		Product Names
Genentech		Avastin^®
		Herceptin^®
		Xolair^®
		Lucentis^®
		Perjeta^®
Elan		Tysabri^®
Chugai		Actemra^®

We have also entered into licensing agreements under which we have licensed certain rights under our patents for development-stage products that have not yet reached commercialization including products that are currently in Phase 3 clinical trials.

Until December 2008, our business included biotechnology operations which were focused on the discovery and development of novel antibodies which we spun off to Facet Biotech Corporation. In April 2010, Abbott Laboratories acquired Facet and later renamed the company Abbott Biotherapeutics Corp., and in January 2013, Abbott Biotherapeutics, Corp. was renamed AbbVie Biotherapeutics, Inc. and spun off from Abbott as a subsidiary of AbbVie Inc.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2012

Summary of Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles and under the rules and regulations of the Securities and Exchange Commission.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, QHP Royalty Sub LLC. All material intercompany balances and transactions are eliminated in consolidation. Our consolidated financial statements are prepared in accordance with GAAP, and the rules and regulations of the SEC.

Management Estimates

The preparation of financial statements in conformity with GAAP requires the use of management’s estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

Segment Disclosures

Our chief operating decision-maker consists of our executive management. Our chief operating decision-maker reviews our operating results and operating plans and makes resource allocation decisions on a company-wide, therefore, we operated as one segment.

Cash Equivalents and Investments

We consider all highly liquid investments with initial maturities of three months or less at the date of purchase to be cash equivalents. We place our cash, cash equivalents and investments with high credit quality financial institutions and in U.S. government securities, U.S. government agency securities and investment grade corporate debt securities and, by policy, limit the amount of credit exposure in any one financial instrument. Available-for-sale securities are reported at fair value, with unrealized gains and losses recorded in accumulated other comprehensive income (loss). See Note 5.

Fair Value Measurements

The fair value of our financial instruments are estimates of the amounts that would be received if we were to sell an asset or we paid to transfer a liability in an orderly transaction between market participants at the measurement date or exit price. The assets and liabilities are categorized and disclosed in one of the following three categories:

Level 1 – based on quoted market prices in active markets for identical assets and liabilities;

Level 2 – based on quoted market prices for similar assets and liabilities, using observable market based inputs or unobservable market based inputs corroborated by market data, and

Level 3 – based on unobservable inputs using management’s best estimate and assumptions when inputs are unavailable.

We do not estimate the fair value of our royalty assets for financial statement reporting purposes.

Notes and Other Long-Term Receivables

Notes receivable and loans originated by us are initially recorded at the amount advanced to the borrower. Notes receivable and loan origination and commitment fees, net of certain origination costs, are recorded as an adjustment to the carrying value of the notes receivable and loans and are amortized over the term of the related financial asset under the effective interest method. Certain of our notes receivable and loans require the borrower to make variable payments which are dependent upon the borrower's sales of specific products. We have elected to use the prospective interest method to account for these notes receivable and loans subsequent to their initial recognition. Under this approach, we recognize the impact of any variations from the expected returns in the period when received. From time to time, we will re-evaluate the expected cash flows and may adjust the effective interest rate with effect prospective from the date of assessment, if the impact of such adjustment could be material to our financial statements. Determining initial effective interest rate and subsequent re-assessment of the effective interest rate for notes receivable and loans with variable cash flows requires judgment and is based on significant assumptions related to estimates of the amounts and timing of future product sales by the borrowers.

We evaluate the collectability of both interest and principal for each note and loan to determine whether it is impaired. A note or loan is considered to be impaired when, based on current information and events, we determine it is probable that we will be unable to collect all amounts due according to the existing contractual terms. When a note or loan is considered to be impaired, the amount of loss is calculated by comparing the carrying value of the financial asset to the value determined by discounting the expected future cash flows at the loan's effective interest rate or to the estimated fair value of the underlying collateral, less costs to sell, if the loan is collateralized and we expect repayment to be provided solely by the collateral. Impairment assessments require significant judgments and are based on significant assumptions related to the borrower's credit risk, financial performance, expected sales, and fair value of the collateral.

Foreign Currency Hedging

We enter into foreign currency hedges to manage exposures arising in the normal course of business and not for speculative purposes.

We hedge certain Euro-denominated currency exposures related to our licensees’ product sales with Euro forward contracts and, in 2011, Euro forward and option contracts. In general, these contracts are intended to offset the underlying Euro market risk in our royalty revenues. These contracts extend through the fourth quarter of 2014. We designate foreign currency exchange contracts used to hedge royalty revenues based on underlying Euro-denominated sales as cash flow hedges.

At the inception of the hedging relationship and on a quarterly basis, we assess hedge effectiveness. The fair value of the Euro contracts is estimated using pricing models with readily observable inputs from actively quoted markets and is disclosed on a gross basis. The aggregate unrealized gain or loss, net of tax, on the effective component of the hedge is recorded in stockholders’ deficit as accumulated other comprehensive income (loss). Gains or losses on cash flow hedges are recognized as an adjustment to royalty revenue in the same period that the hedged transaction impacts earnings as royalty revenue. Any gain or loss on the ineffective portions is reported in other income in the period the ineffectiveness occurs.

During the third quarter of 2012, we de-designated and terminated a portion of our cash flow hedges. The gain realized was reclassified from other comprehensive income (loss) to other income in the third quarter. See Note 6 for additional information on our foreign currency hedge transactions.

Revenue Recognition

Royalty Revenues

Under most of our patent license agreements, we receive royalty payments based upon our licensees’ net sales of covered products. Generally, under these agreements we receive royalty reports from our licensees approximately one quarter in arrears, that is, generally in the second month of the quarter after the licensee has sold the royalty-bearing product. We recognize royalty revenues when we can reliably estimate such amounts and collectability is reasonably assured. As such, we generally recognize royalty revenues in the quarter reported to us by our licensees, that is, royalty revenues are generally recognized one quarter following the quarter in which sales by our licensees occurred. Under this accounting policy, the royalty revenues we report are not based upon our estimates and such royalty revenues are typically reported in the same period in which we receive payment from our licensees.

We may also receive annual maintenance fees from licensees of our Queen et al. patents prior to patent expiry as well as periodic milestone payments. We have no performance obligations with respect to such fees. Maintenance fees are recognized as they are due and when payment is reasonably assured. Total annual milestone payments in each of the last several years have been less than 1% of total revenue.

Comprehensive Income (Loss)

Comprehensive income (loss) comprises net income adjusted for other comprehensive income (loss), using the specific identification method, which includes the changes in unrealized gains and losses on cash flow hedges and changes in unrealized gains and losses on our investments in available-for-sale securities, all net of tax, which are excluded from our net income.

Property and Equipment

Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization were computed using the straight-line method over the following estimated useful lives:



Leasehold improvements		Shorter of asset life or term of lease
Computer and office equipment		3 years
Furniture and fixtures		7 years

Recent Accounting Pronouncements

In December 2011, the FASB issued ASU 2011-11 requiring new disclosures associated with offsetting financial instruments and derivative instruments on the balance sheet that will enable users to evaluate the effect on an entity’s financial position. The ASU will be effective in the first quarter of 2013, but is not expected to have a material impact on our financial statements.

In the first quarter of 2012, we adopted FASB ASU 2011-05, and have presented the components of other comprehensive income (loss) in the Consolidated Statements of Comprehensive Income. We have applied this guidance retrospectively to all periods presented. The adoption of the guidance was a change to the presentation of other comprehensive income (loss) and had no effect on our condensed consolidated financial statements. See Note 18 for our discussion of accumulated other comprehensive income (loss).

Net Income per Share

12 Months Ended

Dec. 31, 2012

Net Income per Share [Abstract]

Net Income per Share

3. Net Income per Share



	Year Ended December 31,
(In thousands, except per share amounts)	2012		2011		2010
Numerator
Net income	$	211,669	$	199,389	$	91,874
Add back interest expense for convertible notes, net of estimated tax of $25,000, $3.0 million and $2.7 million, for the years ended December 31, 2012, 2011 and 2010, respectively (see Note 12)	46		5,544		5,087
Income used to compute net income per diluted share	$	211,715	$	204,933	$	96,961
Denominator
Total weighted-average shares used to compute net income per basic share	139,711		139,663		126,578
Effect of dilutive stock options	95		13		9
Restricted stock outstanding	17		25		103
Assumed conversion of Series 2012 notes	4,944		—		—
Assumed conversion of 2012 notes	—		9,790		29,870
Assumed conversion of February 2015 notes	631		27,950		4,229
Assumed conversion of May 2015 notes	1,005		—		—
Assumed conversion of 2023 notes	—		—		18,012
Shares used to compute net income per diluted share	146,403		177,441		178,801
Net income per basic share	$	1.52	$	1.43	$	0.73
Net income per diluted share	$	1.45	$	1.15	$	0.54

We compute net income per basic share using the weighted-average number of shares of common stock outstanding during the period less the weighted-average number of restricted stock shares that are subject to repurchase.

We compute net income per diluted share using the sum of the weighted-average number of common and common equivalent shares outstanding. Common equivalent shares used in the computation of net income per diluted share include shares that may be issued under our stock options and restricted stock awards, our February 2015 Notes, our Series 2012 Notes, our May 2015 notes, in 2011 and 2010, our 2012 Notes, and in 2010, our 2023 Notes, on a weighted average basis for the period that the notes were outstanding, including the effect of adding back interest expense and the underlying shares using the if-converted method. Our 2023 Notes were fully retired as of September 14, 2010. Our 2012 Notes were fully retired as of June 30, 2011. In the first quarter of 2012, $179.0 million aggregate principal of our February 2015 Notes was exchanged for our Series 2012 Notes.

In May 2011, we issued our May 2015 Notes, and in January and February 2012 we issued our Series 2012 Notes. The Series 2012 Notes and May 2015 Notes are net share settled, with the principal amount settled in cash and the excess settled in our common stock. The weighted-average share adjustments related to our Series 2012 Notes and May 2015 Notes include the shares issuable in respect of such excess.

We excluded 19.6 million and 13.3 million shares of potential dilution for our warrants for the years ended December 31, 2012 and 2011, respectively, for our warrants issued in 2011, because the exercise price of the warrants exceeded the average market price of our common stock and thus, for the periods presented, no stock was issuable upon conversion. These securities could be dilutive in future periods. Our purchased call options, issued in 2011, will always be anti-dilutive and therefore 23.0 million and 13.3 million shares were excluded for the years ended December 31, 2012 and 2011, respectively, because they have no effect on diluted net income per share under GAAP. For information related to the conversion rates on our convertible debt, see Note 12.

For the year ended December 31, 2012, we excluded approximately 157,000 and 1,000 shares underlying outstanding stock options and restricted stock awards, respectively and for the years ended December 31, 2011 and 2010, we excluded approximately, 193,000 and 330,000 shares underlying outstanding stock options, calculated on a weighted average basis, from our net income per diluted share calculations because their effect was anti-dilutive.

Fair Value Measurements

12 Months Ended

Dec. 31, 2012

Fair Value Measurements [Abstract]

Fair Value Measurements

4. Fair Value Measurements

The fair value of our financial instruments are estimates of the amounts that would be received if we were to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date or exit price. The following table presents the fair value of our financial instruments measured at fair value on a recurring basis by level of input within the fair value hierarchy defined in Note 2:



	December 31, 2012						December 31, 2011
(In thousands)	Level 1		Level 2		Total		Level 1		Level 2		Total
Assets:
Money market funds	$	121,095	$	—	$	121,095	$	163,368	$	—	$	163,368
Certificates of deposit	—		26,128		26,128		—		—		—
Corporate debt securities	—		13,572		13,572		—		44,877		44,877
Commercial paper	—		—		—		—		8,996		8,996
U.S. government sponsored agency bonds	—		—		—		2,015		—		2,015
U.S. treasury securities	—		—		—		5,513		—		5,513
Foreign currency hedge contracts	—		—		—		—		6,838		6,838
Total	$	121,095	$	39,700	$	160,795	$	170,896	$	60,711	$	231,607

Liabilities:
Foreign currency hedge contracts	$	—	$	7,581	$	7,581	$	—	$	9,783	$	9,783

The fair value of the certificates of deposit is determined using quoted market prices for similar instruments and non-binding market prices that are corroborated by observable market data. The certificates of deposit include a $20 million certificate of deposit that is restricted as it was purchased to collateralize the line of credit for Merus Labs; see Note 7.

The fair value of the foreign currency hedging contracts is estimated based on pricing models using readily observable inputs from actively quoted markets and are disclosed on a gross basis.

Corporate debt securities consist primarily of U.S. corporate bonds. The fair value of corporate debt securities is estimated using recently executed transactions or market quoted prices, where observable. Independent pricing sources are also used for valuation.

The fair value of commercial paper is estimated based on observable inputs of the comparable securities.

There has been no transfers between levels during the years ended December 31, 2012 and 2011. The Company recognizes transfers between levels on the date of the event or change in circumstances that caused the transfer.

The following tables present the fair value of assets and liabilities not subject to fair value recognition by level within the valuation hierarchy:



	December 31, 2012						December 31, 2011
	Carrying Value		Level 2		Level 3		Carrying Value		Level 2		Level 3
(In thousands)
Assets:
Wellstat Diagnostics note receivable	$	41,098	$	—	$	41,098	$	—	$	—	$	—
Merus Labs note receivable	30,000		30,000		—		—		—		—
AxoGen note receivable	22,110		—		22,110		—		—		—
Total	$	93,208	$	30,000	$	63,208	$	—	$	—	$	—
Liabilities:
Series 2012 Notes	$	165,528	$	227,187	$	—	$	—	$	—	$	—
May 2015 Notes	143,433		182,031		—		138,952		156,123		—
February 2015 Notes	991		1,269		—		177,663		191,475		—
Non-recourse Notes	—		—		—		93,370		95,237		—
Total	$	309,952	$	410,487	$	—	$	409,985	$	442,835	$	—

As of December 31, 2012, the fair values of our Wellstat Diagnostic note receivable, Merus Labs note receivable, and AxoGen note receivable were determined using one or more discounted cash flow models, incorporating expected payments and the interest rate extended on the notes with fixed interest rates and incorporating expected payments for notes with a variable rate of return.

On December 31, 2012, the carrying value of the AxoGen note approximates its fair value. We determined the estimated fair value of the note to be Level 3, as our valuation utilized significant unobservable inputs, including estimates of Axogen's future revenues, expectations about settlement and required yield. To provide support for the fair value measurement, we considered forward looking performance related to AxoGen, current measures associated with high yield indices, and reviewed the terms and yields of notes placed by specialty finance and venture firms both across industries and in a similar sector. Additionally, we reviewed market yield indices for changes since the issuance of the note. We observed no material events with AxoGen or in the market in which it participates since the placement.

On December 31, 2012, the carrying value of the note receivable from Wellstat Diagnostics approximates its fair value. Due to breach of the credit agreement as of December 31, 2012, as discussed in Note 7, we considered the fair value of the collateral when estimating fair value of the note. The note is collateralized by all assets and equity interest in Wellstat Diagnostics. The fair value of the collateral was determined by using a discounted cash flow analysis related to the underlying technology included in the collateral. The discounted cash flow was based upon expected income from sales of planned products over a 15 year period. The terminal value was estimated using selected market multiples based on sales and EBITDA. We determined that this note is a Level 3 asset, as our valuation of collateral utilized significant unobservable inputs including estimates of discount rate of 35%, terminal value EBITDA multiple of 17.5, terminal value sales multiple of 3.0 and future revenue and expenses related to commercialization of the borrower's technology.

The fair values of our convertible notes and our Non-recourse Notes were determined using quoted market pricing or dealer quotes of our then outstanding notes.

- 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
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-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
-Section 50
-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

Cash Equivalents and Investments

12 Months Ended

Dec. 31, 2012

Cash Equivalents and Investments [Abstract]

Cash Equivalents and Investments

5. Cash Equivalents and Investments

As of December 31, 2012, we had invested our excess cash balances primarily in money market funds, a certificate of deposit, and corporate debt securities, and in 2011, commercial paper, U.S. government sponsored agency bonds and U.S. treasury securities. Our securities are classified as available-for-sale and are carried at estimated fair value, with unrealized gains and losses reported in accumulated other comprehensive income (loss) in stockholders’ deficit, net of estimated taxes. See Note 4 for fair value measurement information. The cost of securities sold is based on the specific identification method. To date, we have not experienced credit losses on investments in these instruments and we do not require collateral for our investment activities.



Summary of Cash and Available-For-Sale Securities	Adjusted Cost		Unrealized Gains		Unrealized Losses			Fair Value		Cash and Cash Equivalents		Restricted Investment		Short-Term Marketable Securities		Long-Term Marketable Securities
(In thousands)
December 31, 2012
Cash	$	7,894	$	—	$	—		$	7,894	$	7,894	$	—	$	—	$	—
Money market funds	121,095		—		—			121,095		121,095		—		—		—
Certificates of deposit	26,128		—		—			26,128		2,223		20,000		3,905		—
Corporate debt securities	13,562		10		—			13,572		—		—		13,572		—
Total	$	168,679	$	10	$	—		$	168,689	$	131,212	$	20,000	$	17,477	$	—

December 31, 2011
Cash	$	3,177	$	—	$	—		$	3,177	$	3,177	$	—	$	—	$	—
Money market funds	163,368		—		—			163,368		163,368		—		—		—
Corporate debt securities	44,863		57		(43		)	44,877		—		—		27,776		17,101
Commercial paper	8,997		—		(1		)	8,996		1,999		—		6,997		—
U.S. government sponsored agency bonds	2,003		12		—			2,015		—		—		2,015		—
U.S. treasury securities	5,494		19		—			5,513		—		—		5,513		—
Total	$	227,902	$	88	$	(44	)	$	227,946	$	168,544	$	—	$	42,301	$	17,101

We recognized approximately $13,000 of gains on sales of available-for-sale securities in the year ended December 31, 2012. We did not recognize any gains or losses on sales of available-for-sale securities during 2011 and 2010.



Cash and Available-For-Sale Securities by Contractual Maturity	December 31, 2012				December 31, 2011
(In thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Less than one year	$	168,679	$	168,689	$	210,807	$	210,845
Greater than one year but less than five years	—		—		17,095		17,101
Total	$	168,679	$	168,689	$	227,902	$	227,946

The unrealized gain on investments included in other comprehensive income (loss), net of estimated taxes, was approximately $7,000 and $29,000 as of December 31, 2012 and 2011, respectively. No significant facts or circumstances have arisen to indicate that there has been any deterioration in the creditworthiness of the issuers of these securities. Based on our review of these securities, we believe we had no other-than-temporary impairments on these securities as of December 31, 2012 and 2011, as we have the ability and the intent to hold these investments to maturity.

Foreign Currency Hedging

12 Months Ended

Dec. 31, 2012

Foreign Currency Hedging [Abstract]

Foreign Currency Hedging

6. Foreign Currency Hedging

We designate the foreign currency exchange contracts used to hedge our royalty revenues based on underlying Euro-denominated sales as cash flow hedges. Euro forward contracts are presented on a net basis on our Consolidated Balance Sheets as we have entered into a netting arrangement with the counterparty. As of December 31, 2012 and 2011, all outstanding Euro forward contracts and option contracts were classified as cash flow hedges.

In January 2012, we modified our existing Euro forward and option contracts related to our licensees’ sales through December 2012 into Euro forward contracts with more favorable rates. Additionally, we entered into a series of Euro forward contracts covering the quarters in which our licensees’ sales occur through December 2013.

During the third quarter of 2012, we reduced our forecasted exposure to the Euro for 2013 royalties. We de-designated and terminated certain forward contracts, due to our determination that certain cash flows under the de-designated contracts were probable to not occur, and recorded a gain of approximately $391,000 to interest and other income, net, which was reclassified from other comprehensive income (loss) net of tax effects. The termination of these contracts was effected through a reduction in the notional amount of the original hedge contracts.

The notional amounts, Euro exchange rates, fair values of our Euro forward contracts designated as cash flow hedges were as follows:



Euro Forward Contracts			December 31, 2012					December 31, 2011
			(In thousands)					(In thousands)
Currency	Settlement Price ($ per Euro)	Type	Notional Amount		Fair Value			Notional Amount		Fair Value
Euro	1.400	Sell Euro	$	—	$	—		$	25,150	$	1,837
Euro	1.200	Sell Euro	—		—			117,941		(9,783		)
Euro	1.230	Sell Euro	27,553		(2,036		)	—		—
Euro	1.240	Sell Euro	10,850		(726		)	—		—
Euro	1.270	Sell Euro	44,450		(1,950		)	—		—
Euro	1.281	Sell Euro	36,814		(1,331		)	—		—
Euro	1.300	Sell Euro	91,000		(1,538		)	—		—
Total			$	210,667	$	(7,581	)	$	143,091	$	(7,946	)



Euro Option Contracts			December 31, 2012				December 31, 2011
			(In thousands)				(In thousands)
Currency	Strike Price ($ per Euro)	Type	Notional Amount		Fair Value		Notional Amount		Fair Value
Euro	1.510	Purchased call option	$	—	$	—	$	27,126	$	—
Euro	1.315	Purchased call option	—		—		129,244		5,001
Total			$	—	$	—	$	156,370	$	5,001

The location and fair values of our Euro contracts in our Consolidated Balance Sheets were as follows:



		December 31,
Cash Flow Hedge	Location	2012		2011
(In thousands)
Euro contracts	Prepaid and other current assets	$	—	$	1,837
Euro contracts	Accrued liabilities	$	3,574	$	4,134
Euro contracts	Other long-term liabilities	$	4,007	$	648

The effect of our derivative instruments in our Consolidated Statements of Income and our Consolidated Statements of Comprehensive Income were:



	Year Ended December 31,
	2012			2011			2010
(In thousands)
Net gain (loss) recognized in OCI, net of tax ⁽¹⁾	$	(5,040	)	$	(4,470	)	$	5,134
Gain (loss) reclassified from accumulated OCI into royalty revenue, net of tax ⁽²⁾	$	(1,859	)	$	664		$	1,914
Net loss recognized in interest and other income, net -- cash flow hedges ⁽³⁾	$	(169	)	$	(19	)	$	—
Net gain recognized in interest and other income, net -- non-designated contracts ⁽⁴⁾	$	391		$	—		$	—
Amount excluded from effectiveness testing	$	—		$	—		$	—

_________________________

(1) Net change in the fair value of the effective portion of cash flow hedges classified in other comprehensive income (loss) (OCI)

(2) Effective portion classified as royalty revenue

(3) Ineffectiveness from excess hedge was approximately $8,000 and $19,000 for the years ended December 31, 2012 and 2011, respectively. Net loss from restructuring hedges was approximately $161,000 and zero for the years ended December 31, 2012 and 2011, respectively.

(4) Gain on de-designation classified as interest and other income, net

A loss of approximately $2.1 million, net of tax, is expected to be reclassified from other comprehensive income (loss) against earnings in the next 12 months.

- Definition

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

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+ Details

Notes and Other Long-term Receivables	12 Months Ended
Notes and Other Long-term Receivables	Dec. 31, 2012
Notes and Other Long-term Receivables [Abstract]
Notes and Other Long-term Receivables	7. Notes and Other Long-term Receivables Notes and other long-term receivables included the following significant agreements: Wellstat Diagnostics Note Receivable and Credit Agreement In March 2012, the Company executed a $7.5 million two-year senior secured note receivable with the holders of the equity interests in Wellstat Diagnostics. In addition to bearing interest at 10%, the note gave PDL certain rights to negotiate for certain future financing transactions. In August 2012, PDL and the borrowers amended the note receivable, providing a senior secured note receivable of $10.0 million to replace the original $7.5 million note, which bore interest at 12% per annum. On November 2, 2012, the Company and Wellstat Diagnostics entered into a $40.0 million credit agreement pursuant to which the Company is to accrue quarterly interest payments at the rate of 5% per annum (payable in cash or in kind). In addition, PDL will receive quarterly royalty payments based on a low double digit royalty rate of Wellstat Diagnostics' net revenues, generated by the sale, distribution or other use of Wellstat Diagnostics' products, if any, commencing upon the commercialization of its products. Under the credit agreement, Wellstat Diagnostics may prepay the credit agreement at a price that, together with interest and royalty payments already made to the Company would generate a specified internal rate of return to the Company. In the event of change of control, bankruptcy or certain other customary events of defaults, or Wellstat Diagnostics' failure to achieve specified annual revenue threshold in 2017, Wellstat Diagnostics shall be required to prepay the credit agreement at a price that, together with interest and royalty payments already made to the Company, would generate a specified internal rate of return to the Company. The credit agreement is secured by a pledge of all of the assets of Wellstat Diagnostics and a pledge of all of Wellstat Diagnostics’ equity interests by the holders thereof. In January 2013, the Company was informed that, as of December 31, 2012, Wellstat Diagnostics had used funds contrary to the terms of the credit agreement and breached Sections 2.1.2 and 7 of the credit agreement. PDL sent Wellstat Diagnostics a notice of default on January 22, 2013, and accelerated the amounts owed under the credit agreement. In connection with the notice of default, PDL exercised one of its available remedies and transferred approximately $8.1 million of available cash from a bank account of Wellstat Diagnostics to PDL and applied the funds to amounts due under the credit agreement. Subsequently, PDL has agreed to provide $7.9 million to Wellstat diagnostics to fund the business for the 120-day forbearance period under the terms of the credit agreement. On February 28, 2013, the parties entered into a forbearance agreement whereby PDL has agreed to refrain from exercising additional remedies for 120 days while Wellstat Diagnostics raises funds to capitalize the business and the parties attempt to negotiate a revised credit agreement. As a result of the foregoing default, we prepared an impairment analysis of the Wellstat Diagnostics' note receivable as of December 31, 2012. The note is collateralized by all assets and equity interest in Wellstat Diagnostics. Therefore, we evaluated impairment by assessing the estimated fair value of the collateral. We concluded that no impairment existed as of December 31, 2012, because the estimated fair value of the collateral exceeded the carrying value of the note. On January 27, 2012, PDL and Hyperion Catalysis International, Inc. (Hyperion) entered into a Purchase and Sale Agreement (Agreement) whereby Hyperion sold to PDL the right to receive two milestone payments due from Showa Denka K.K. in 2013 and 2014 in exchange for a lump sum payment to Hyperion. PDL received the first payment of $1.2 million on February 28, 2013. The second and final payment of $1.2 million is due in the first week of March 2014. Hyperion may opt to prepay any payment amount due to PDL at any time without penalty. Hyperion is a mature company with proven technology, licensees and revenue streams, so there was no indication of impairment at December 31, 2012. However, Hyperion shares common equity holders with Wellstat Diagnostics. As a result of the breach by Wellstat Diagnostics of the Credit Agreement between PDL and Wellstat Diagnostics, the Company reviewed the Hyperion Agreement for impairment. While no payment is due from the Hyperion Agreement until the first week of March 2014, PDL management was concerned that the payment would not be received, given Hyperion's shareholders' breach of the credit agreement of Wellstat Diagnostics. To ensure that the Hyperion March 2013 payment of $1.2 was received, PDL included the Hyperion March 2013 payment in the Wellstat Diagnostics forbearance agreement, signed on February 28, 2013. A discounted cash flow (DCF) analysis supports the $2.3 million carrying value of the Hyperion Agreement at December 31, 2012. Based upon the DCF and the guarantee provided in the Wellstat Diagnostics forbearance agreement, management believes that all amounts due will be received and believes there is no impairment of the Hyperion Agreement. Therefore, no adjustment or reserve was required to the $2.3 million carrying value of the Agreement as of December 31, 2012. Merus Labs Note Receivable and Credit Agreement In July 2012, PDL loaned $35.0 million to Merus Labs in connection with its acquisition of a commercial-stage pharmaceutical product and related assets. In addition, PDL agreed to provide a $20.0 million letter of credit on behalf of Merus Labs that the seller of the assets may draw upon on July 11, 2013, to satisfy the remaining $20.0 million purchase price obligation on July 11, 2013. Draws on the letter of credit will be funded from the proceeds of an additional loan to Merus Labs. Outstanding borrowings under the July 2012 loan bear interest at the rate of 13.5% per annum and outstanding borrowings as a result of draws on the letter of credit bear interest at the rate of 14.0% per annum. Merus Labs is required to make four periodic principal payments in respect of the July 2012 loan, with repayment of the remaining principal balance of all loans due on March 31, 2015. The borrowings are subject to mandatory prepayments upon certain asset dispositions or debt issuances upon the terms set forth in the credit agreement. The credit agreement provides for a number of standard events of default, including payment, bankruptcy, covenant, judgment and cross-defaults. AxoGen Note Receivable and Revenue Interest Purchase Agreement In October 2012, PDL entered into a Revenue Interests Purchase Agreement (the Royalty Agreement) with AxoGen pursuant to which the Company will receive specified royalties on AxoGen’s net revenues (as defined in the Royalty Agreement) generated by the sale, distribution or other use of AxoGen’s products. The Royalty Agreement has an eight year term and provides PDL with high single digit royalties based on AxoGen Net Revenues, subject to agreed-upon minimum payments beginning in the fourth quarter of 2014, and the right to require AxoGen to repurchase the Royalty Agreement at the end of the fourth year. AxoGen has been granted certain rights to call the contract in years five through eight. The total consideration PDL paid to AxoGen for the royalty rights was $20.8 million, including the termination of an interim funding of $1.8 million in August 2012. AxoGen was required to use a portion of the proceeds from the Royalty Agreement to pay the outstanding balance under its existing credit facility. AxoGen plans to use the remainder of the proceeds to support the business plan for its products. The royalty rights are secured by the cash and accounts receivable of AxoGen. Under the Royalty Agreement, beginning on October 1, 2016, or in the event of the occurrence of a material adverse event or AxoGen's bankruptcy or material breach of the Royalty Agreement, the Company may require AxoGen to repurchase the Royalty Rights at a price that, together with payments already made by AxoGen, would generate a specified internal rate of return to the Company. In the event of a change of control of AxoGen, it must repurchase the assigned interests from the Company for a repurchase price equal to an amount that, together with payments already made by AxoGen, would generate a specified internal rate of return to the Company. The Company concluded that the repurchase option is an embedded derivative which should be bifurcated and separately accounted for at fair value. The fair value of the repurchase option was not material on December 31, 2012. In addition, at any time after September 30, 2016, AxoGen, at its option, can call to repurchase the assigned interests under the Royalty Agreement for a price applicable in a change of control. Under the Royalty Agreement, during its term the Company is entitled to designate an individual to be a member of AxoGen's Board of Directors. The Company has exercised this right and on October 5, 2012, upon close of the transaction, the Company's President and Chief Executive Officer was elected to AxoGen's Board of Directors. For carrying value and fair value information related to our Notes and Other Long-term Receivables, see Note 4.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

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-Name Statement of Position (SOP)
-Number 01-6
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+ Details

Prepaid and Other Current Assets

12 Months Ended

Dec. 31, 2012

Prepaid and Other Current Assets [Abstract]

Prepaid And Other Current Assets

8. Prepaid and Other Current Assets



	December 31,
(In thousands)	2012		2011
Non-recourse Notes issuance costs	$	—	$	1,226
Foreign currency exchange	—		1,837
Prepaid income taxes	3,351		8,297
Other	1,462		654
Total	$	4,813	$	12,014

For further information about our Non-recourse Notes, see Note 12.

Property and Equipment

12 Months Ended

Dec. 31, 2012

Property and Equipment [Abstract]

Property and Equipment

9. Property and Equipment



	December 31,
(In thousands)	2012			2011
Leasehold improvements	$	127		$	112
Computer and office equipment	8,993			8,989
Furniture and fixtures	38			38
Total	9,158			9,139
Less accumulated depreciation and amortization	(9,131		)	(9,117		)
Construction in progress	32			—
Property and equipment, net	$	59		$	22

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References + Details

Accrued Liabilities

12 Months Ended

Dec. 31, 2012

Accrued Liabilities [Abstract]

Accrued Liabilities

10. Accrued Liabilities



	December 31,
(In thousands)	2012		2011
Compensation	$	594	$	1,341
Interest	2,925		3,351
Deferred revenue	—		1,713
Foreign currency hedge	3,574		4,134
Dividend payable	53		52
Legal	2,020		673
Other	234		345
Total	$	9,400	$	11,609

Commitments and Contingencies

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies [Abstract]

Commitments and Contingencies

11. Commitments and Contingencies

Operating Leases

We currently occupy a leased facility in Incline Village, Nevada, with a lease term through May 2014. We also lease certain office equipment under operating leases. Rental expense under these arrangements totaled $0.2 million, $0.2 million and $0.1 million for the years ended December 31, 2012, 2011 and 2010, respectively.

Future minimum operating lease payments for the years ended December 31, were as follows:



(In thousands)
2013	$	285
2014	84
Total	$	369

- Definition

The entire disclosure for commitments and contingencies.

+ References

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-Name Statement of Financial Accounting Standard (FAS)
-Number 5
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+ Details

Convertible Notes and Non-recourse Notes

12 Months Ended

Dec. 31, 2012

Convertible and Non-Recourse Notes [Abstract]

Convertible and Non-Recourse Notes

12. Convertible Notes and Non-recourse Notes

Convertible and Non-recourse Notes activity for the years ended December 31, 2012 and 2011:



(In thousands)	2012 Notes			Series 2012 Notes			May 2015 Notes		February 2015 Notes			Non-recourse Notes			Total
Balance at December 31, 2010	$	133,464		$	—		$	—	$	176,964		$	204,270		$	514,698
Issuance	—			—			136,313		—			—			136,313
Payment	—			—			—		—			(110,900		)	(110,900		)
Repurchase	(133,464		)	—			—		—			—			(133,464		)
Discount amortization	—			—			2,639		699			—			3,338
Balance at December 31, 2011	—			—			138,952		177,663			93,370			409,985
Issuance and exchange	—			176,679			—		(176,679		)	—			—
Payment	—			—			—		—			(93,370		)	(93,370		)
Non-cash discount	—			(16,833		)	—		—			—			(16,833		)
Discount amortization	—			5,682			4,481		7			—			10,170
Balance at December 31, 2012	$	—		$	165,528		$	143,433	$	991		$	—		$	309,952

Series 2012 Notes

In January 2012, we exchanged $169.0 million aggregate principal of new Series 2012 Notes for an identical principal amount of our February 2015 Notes, plus a cash payment of $5.00 for each $1,000 principal amount tendered, totaling approximately $845,000. The cash incentive payment was allocated to deferred issue costs of $765,000, additional paid-in capital of $52,000 and deferred tax assets of $28,000. The deferred issue costs will be recognized over the life of the Series 2012 Notes as interest expense. In February 2012, we entered into separate privately negotiated exchange agreements under which we exchanged an additional $10.0 million aggregate principal amount of the new Series 2012 Notes for an identical principal amount of our February 2015 Notes. At the conclusion of these transactions, $1.0 million of our February 2015 Notes remained outstanding.

The terms of the Series 2012 Notes are governed by the indenture dated as of January 5, 2012 and include a net share settlement feature, meaning that if a conversion occurs, the principal amount will be settled in cash and the excess, if any, will be settled in the Company’s common stock. The Series 2012 Notes may not be redeemed by the Company prior to their stated maturity date. Our Series 2012 Notes are due February 15, 2015 and bear interest at a rate of 2.875% per annum, payable semi-annually in arrears on February 15 and August 15 of each year. This is the same interest rate that we pay on the February 2015 Notes.

Third party transaction costs of approximately $813,000 related to the exchange transactions have been recognized within general and administrative expense, of which $216,000 was recognized in the first quarter of 2012 and $597,000 was recognized during the year ended December 31, 2011.

Holders may convert their Series 2012 Notes at any time prior to the close of business on the second scheduled trading day immediately preceding the stated maturity date of the Series 2012 Notes under the following circumstances:

•

During any fiscal quarter commencing after the fiscal quarter ending December 31, 2011, if the closing price of the Company’s common stock for at least 20 trading days in a period of 30 consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter exceeds 130% of the conversion price for the Series 2012 Notes on the last day of such preceding fiscal quarter;


•	During the five business-day period immediately after any five consecutive trading-day period in which the trading price per $1,000 principal amount of the Series 2012 Notes for each trading day of that measurement period was less than 98% of the product of the closing price of the Company’s common stock and the conversion rate for the Series 2012 Notes for that trading day;


•	Upon the occurrence of certain corporate transactions as provided in the indenture; or


•	Anytime, at the holder’s option, beginning on August 15, 2014.

Holders of our Series 2012 Notes who convert their Series 2012 Notes in connection with a fundamental change resulting in the reclassification, conversion, exchange or cancellation of our common stock may be entitled to a make-whole premium in the form of an increase in the conversion rate. Such fundamental change is generally defined to include a merger involving PDL, an acquisition of a majority of PDL’s outstanding common stock and a change of a majority of PDL’s board of directors without the approval of the board of directors.

We allocated $2.3 million of the remaining deferred February 2015 Notes original issue discount as of the date of the exchange to the Series 2012 Notes based on the percentage of the February 2015 Notes exchanged. In accordance with the accounting guidance for convertible debt instruments that may be settled in cash or other assets on conversion, we were required to separately account for the liability component of the instrument in a manner that reflects the market interest rate for a similar nonconvertible instrument at the date of issuance. As a result, we separated the principal balance of the Series 2012 Notes, net of the allocated original issue discount, between the fair value of the debt component and the common stock conversion feature. Using an assumed borrowing rate of 7.3%, which represents the estimated market interest rate for a similar nonconvertible instrument available to us during the period of the exchange transactions, we recorded a total debt discount of $16.8 million, allocated $10.9 million to additional paid-in capital and $5.9 million to deferred tax liability. The discount is being amortized to interest expense over the term of the Series 2012 Notes and increases interest expense during the term of the Series 2012 Notes from the 2.875% cash coupon interest rate to an effective interest rate of 7.3%. The common stock conversion feature is recorded as a component of stockholders’ deficit.

The principal amount, carrying value and unamortized discount of our Series 2012 Notes were:



	December 31,
(In thousands)	2012			2011
Principal amount of the Series 2012 Notes	$	179,000		$	—
Unamortized discount of liability component	(13,472		)	—
Net carrying value of the Series 2012 Notes	$	165,528		$	—

Interest expense for our Series 2012 Notes on the Consolidated Statements of Income was:



	Year ended December 31,
(In thousands)	2012		2011		2010
Contractual coupon interest	$	5,122	$	—	$	—
Amortization of debt issuance costs	1,107		—		—
Amortization of debt discount	5,682		—		—
Total	$	11,911	$	—	$	—

As of December 31, 2012, our Series 2012 Notes are convertible into 169.525 shares of the Company’s common stock per $1,000 of principal amount, or approximately $5.90 per common share, subject to further adjustment upon certain events including dividend payments. As of December 31, 2012, the remaining discount amortization period was 2.1 years.

Our common stock did not exceed the conversion threshold price of $7.82 for at least 20 days during 30 consecutive trading days ended September 30, 2012; accordingly, the Series 2012 Notes were not convertible at the option of the holder during the quarter ended December 31, 2012. Our common stock price did not exceed the conversion threshold price of $7.67 per common share for at least 20 days during the 30 consecutive trading days ended December 31, 2012; accordingly the Series 2012 Notes are not convertible at the option of the holder during the quarter ending March 31, 2013. At December 31, 2012, the if-converted value of our Series 2012 Notes exceeded their principal amount by approximately $34.6 million.

May 2015 Notes

On May 16, 2011, we issued $155.3 million in aggregate principal amount, at par, of our May 2015 Notes in an underwritten public offering, for net proceeds of $149.7 million. Our May 2015 Notes are due May 1, 2015, and are convertible into 148.3827 shares of the Company’s common stock per $1,000 of principal amount, or approximately $6.74 per share, subject to further adjustment upon certain events including dividend payments. We pay interest at 3.75% on our May 2015 Notes semiannually in arrears on May 1 and November 1 of each year, beginning November 1, 2011. Proceeds from our May 2015 Notes, net of amounts used for purchased call option transactions and provided by the warrant transactions described below, were used to redeem our 2012 Notes. Upon the occurrence of a fundamental change, as defined in the indenture, holders have the option to require PDL to repurchase their May 2015 Notes at a purchase price equal to 100% of the principal, plus accrued interest.

Our May 2015 Notes are convertible under any of the following circumstances:


•	During any fiscal quarter ending after the quarter ending June 30, 2011, if the last reported sale price of our common stock for at least 20 trading days in a period of 30 consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter exceeds 130% of the conversion price for the notes on the last day of such preceding fiscal quarter;


•	During the five business-day period immediately after any five consecutive trading-day period, which we refer to as the measurement period, in which the trading price per $1,000 principal amount of notes for each trading day of that measurement period was less than 98% of the product of the last reported sale price of our common stock and the conversion rate for the notes for each such day;


•	Upon the occurrence of specified corporate events as described further in the indenture; or


•	At any time on or after November 1, 2014.

If a conversion occurs, to the extent that the conversion value exceeds the principal amount, the principal amount is due in cash and the difference between the conversion value and the principal amount is due in shares of the Company’s common stock. Our common stock did not exceed the conversion threshold price of $8.94 for at least 20 days during 30 consecutive trading days ended September 30, 2012; accordingly, the May 2015 Notes were not convertible at the option of the holder during the quarter ending December 31, 2012. Our common stock price did not exceed the conversion threshold price of $8.76 per common share for at least 20 days during the 30 consecutive trading days ended December 31, 2012; accordingly the May 2015 Notes are not convertible at the option of the holder during the quarter ended March 31, 2013. At December 31, 2012, the if-converted value of our May 2015 Notes exceeded their principal amount by approximately $6.9 million.

In accordance with the accounting guidance for convertible debt instruments that may be settled in cash or other assets on conversion, we were required to separately account for the liability component of the instrument in a manner that reflects the market interest rate for a similar nonconvertible instrument at the date of issuance. As a result, we separated the principal balance of our May 2015 Notes between the fair value of the debt component and the fair value of the common stock conversion feature. Using an assumed borrowing rate of 7.5%, which represents the estimated market interest rate for a similar nonconvertible instrument available to us on the date of issuance, we recorded a total debt discount of $18.9 million, allocated $12.3 million to additional paid-in capital and $6.6 million to deferred tax liability. The discount is being amortized to interest expense over the term of our May 2015 Notes and increases interest expense during the term of our May 2015 Notes from the 3.75% cash coupon interest rate to an effective interest rate of 7.5%. As of December 31, 2012, the remaining discount amortization period is 2.3 years.

The carrying value and unamortized discount of our May 2015 Notes were:



	December 31,
(In thousands)	2012			2011
Principal amount of the May 2015 Notes	$	155,250		$	155,250
Unamortized discount of liability component	(11,817		)	(16,298		)
Net carrying value of the May 2015 Notes	$	143,433		$	138,952

Interest expense for our May 2015 Notes on the Consolidated Statements of Income was:



	Year Ended December 31,
(In thousands)	2012		2011		2010
Contractual coupon interest	$	5,822	$	3,639	$	—
Amortization of debt issuance costs	1,193		727		—
Amortization of debt discount	4,481		2,639		—
Total	$	11,496	$	7,005	$	—

Purchased Call Options and Warrants

In connection with the issuance of our May 2015 Notes, we entered into purchased call option transactions with two hedge counterparties. We paid an aggregate amount of $20.8 million, plus legal fees, for the purchased call options with terms substantially similar to the embedded conversion options in our May 2015 Notes. The purchased call options cover, subject to anti-dilution and certain other customary adjustments substantially similar to those in our May 2015 Notes, approximately 23.0 million shares of our common stock at a strike price of approximately $6.74, which corresponds to the conversion price of our May 2015 Notes. We may exercise the purchased call options upon conversion of our May 2015 Notes and require the hedge counterparty to deliver shares to the Company in an amount equal to the shares required to be delivered by the Company to the note holder for the excess conversion value. The purchased call options expire on May 1, 2015, or the last day any of our May 2015 Notes remain outstanding.

In addition, we sold to the hedge counterparties warrants exercisable, on a cashless basis, for the sale of rights to receive up to 27.5 million shares of common stock underlying our May 2015 Notes, at a current strike price of approximately $7.93 per share, subject to additional anti-dilution and certain other customary adjustments. We received an aggregate amount of $10.9 million for the sale from the two counterparties. The warrant counterparties may exercise the warrants on their specified expiration dates that occur over a period of time ending on January 20, 2016. If the VWAP of our common stock, as defined in the warrants, exceeds the strike price of the warrants, we will deliver to the warrant counterparties shares equal to the spread between the VWAP on the date of exercise or expiration and the strike price. If the VWAP is less than the strike price, neither party is obligated to deliver anything to the other.

The purchased call option transactions and warrant sales effectively serve to reduce the potential dilution associated with conversion of our May 2015 Notes. The strike prices are approximately $6.74 and $7.93, subject to further adjustment upon certain events including dividend payments, for the purchased call options and warrants, respectively.

If the share price is above $6.74, but below $7.93, upon conversion of our May 2015 Notes, the purchased call options will offset the share dilution, because the Company will receive shares on exercise of the purchased call options equal to the shares that the Company must deliver to the note holders. If the share price is above $7.93, upon exercise of the warrants, the Company will deliver shares to the counterparties in an amount equal to the excess of the share price over $7.93. For example, a 10% increase in the share price above $7.93 would result in the issuance of 2.1 million incremental shares upon exercise of the warrants. As our share price continues to increase, additional dilution would occur.

While the purchased call options are expected to reduce the potential equity dilution upon conversion of our May 2015 Notes, prior to conversion or exercise, our May 2015 Notes and the warrants could have a dilutive effect on the Company’s earnings per share to the extent that the price of the Company’s common stock during a given measurement period exceeds the respective exercise prices of those instruments. As of December 31, 2012 and 2011, the market price condition for convertibility of our May 2015 Notes was not met and there were no related purchased call options or warrants exercised.

The purchased call options and warrants are considered indexed to PDL stock, require net-share settlement, and met all criteria for equity classification at inception and at December 31, 2012 and 2011. The purchased call options cost, including legal fees, of $20.8 million, less deferred taxes of $7.2 million, and the $10.9 million received for the warrants were recorded as adjustments to additional paid-in capital. Subsequent changes in fair value will not be recognized as long as the purchased call options and warrants continue to meet the criteria for equity classification.

February 2015 Notes

On November 1, 2010, we completed an exchange of $92.0 million in aggregate principal of our 2012 Notes in separate, privately negotiated transactions with the note holders. In the exchange transactions, the note holders received $92.0 million in aggregate principal of our February 2015 Notes, and we recorded a net gain of $1.1 million. As part of the transaction, we placed an additional $88.0 million in aggregate principal of our February 2015 Notes. In January 2012, we completed an exchange transaction where we exchanged and subsequently retired approximately $169.0 million aggregate principal amount of our February 2015 Notes for approximately $169.0 million aggregate principal amount of new Series 2012 Notes, plus a cash payment of $5.00 for each $1,000 principal amount tendered for a total cash incentive payment of approximately $0.8 million. In February 2012, we entered into separate privately negotiated exchange agreements under which we retired an additional $10.0 million aggregate principal amount of our February 2015 Notes for $10.0 million aggregate principal amount of our Series 2012 Notes. Following settlement of the exchanges on February 2, 2012, $1.0 million of our February 2015 Notes and $179.0 million of our Series 2012 Notes were outstanding.

Our February 2015 Notes bear interest at 2.875% per annum, are due February 15, 2015, and are convertible at any time, at the holders’ option, into our common stock at a conversion price of 169.525 shares of common stock per $1,000 principal amount, or $5.90 per share, subject to further adjustment in certain events including dividend payments. We pay interest on our February 2015 Notes semiannually in arrears on February 15 and August 15 of each year. Our February 2015 Notes are senior unsecured debt and are redeemable by us in whole or in part on or after August 15, 2014, at 100% of principal amount. Our February 2015 Notes are not puttable by the note holders other than in the context of a fundamental change resulting in the reclassification, conversion, exchange or cancellation of our common stock. Such repurchase event or fundamental change is generally defined to include a merger involving PDL, an acquisition of a majority of PDL’s outstanding common stock and a change of a majority of PDL’s board of directors without the approval of the board of directors. Our February 2015 Notes issuance was not registered under the Securities Act of 1933, as amended, in reliance on exemption from registration thereunder. As of December 31, 2012 and 2011, our February 2015 Notes aggregate principal outstanding was $1.0 million and $180.0 million, respectively.

As of December 31, 2012 and 2011, our February 2015 Notes unamortized issuance costs, included as a component of Other Assets on the Consolidated Balance Sheets, were approximately $12,000 and $3.2 million, respectively. As of December 31, 2012 and 2011, the unamortized discount on our February 2015 Notes was approximately $9,000 and $2.3 million, respectively. The issuance cost and discount are being amortized to interest expense over the term of our February 2015 Notes, with a remaining amortization period as of December 31, 2012, of approximately 2.1 years.

Non-recourse Notes Retirement

In November 2009, we completed a $300.0 million securitization transaction in which we monetized 60% of the net present value of the estimated five year royalties from sales of Genentech products including Avastin®, Herceptin®, Lucentis®, Xolair® and future products, if any, under which Genentech may take a license under our related agreements with Genentech. Our QHP PhaRMA^SM Senior Secured Notes due 2015 bore interest at 10.25% per annum and were issued in a non-registered offering by QHP, a Delaware limited liability company, and a newly formed, wholly-owned subsidiary of PDL. Concurrent with the securitization transaction and under the terms of a purchase and sale agreement, we sold, transferred, conveyed, assigned, contributed and granted to QHP, certain rights under our non-exclusive license agreements with Genentech including the right to receive the Genentech Royalties in exchange for QHP’s proceeds from our Non-recourse Notes issuance. As of December 31, 2012, there was no remaining balance on our Non-recourse Notes, as they were fully repaid and retired on September 17, 2012. The indenture has ceased to be of further effect and all of the security interests in the collateral have terminated, including the pledge by PDL to the trustee of its equity interest in QHP. There are no further restrictions on the Genentech Royalties.

As of December 31, 2012 and 2011, PDL was in compliance with all applicable debt covenants, and embedded features of all debt agreements were evaluated and did not need to be accounted for separately.

As of December 31, 2012, the future minimum principal payments under our Series 2012 Notes, May 2015 Notes and February 2015 Notes were:



(In thousands)	Series 2012 Notes		May 2015 Notes		February 2015 Notes		Total
2013	$	—	$	—	$	—	$	—
2014	—		—		—		—
2015	179,000		155,250		1,000		335,250
Total	$	179,000	$	155,250	$	1,000	$	335,250

Other Long-Term Liabilities

12 Months Ended

Dec. 31, 2012

Other Long-Term Liabilities [Abstract]

Other Long-Term Liabilities

13. Other Long-Term Liabilities



	December 31,
(In thousands)	2012		2011
Accrued lease liability	$	10,700	$	10,700
Uncertain tax position	12,955		12,774
Foreign currency hedge	4,007		648
Total	$	27,662	$	24,122

In connection with the Spin-Off, we entered into amendments to the leases for our former facilities in Redwood City, California, under which Facet was added as a co-tenant under the leases, and a Co-Tenancy Agreement, under which Facet agreed to indemnify us for all matters related to the leases attributable to the period after the Spin-Off date. Should Facet default under its lease obligations, we would be held liable by the landlord as a co-tenant and, thus, we have in substance guaranteed the payments under the lease agreements for the Redwood City facilities. As of December 31, 2012, the total lease payments for the duration of the guarantee, which runs through December 2021, are approximately $100.3 million. We would also be responsible for lease-related costs including utilities, property taxes and common area maintenance which may be as much as the actual lease payments if Facet were to default. In April 2010, Abbott acquired Facet and later renamed the company Abbott Biotherapeutics Corp., and in January 2013, Abbott Biotherapeutics, Corp. was renamed AbbVie Biotherapeutics, Inc. and spun off from Abbott as a subsidiary of AbbVie Inc.

As of December 31, 2012 and 2011, we had a liability of $10.7 million on our Consolidated Balance Sheets for the estimated liability resulting from this guarantee. In future periods, we may increase the recorded liability for this obligation if we conclude that a loss, which is larger than the amount recorded, is both probable and estimable.

Stock-Based Compensation

12 Months Ended

Dec. 31, 2012

Stock-Based Compensation [Abstract]

Stock-Based Compensation

14. Stock-Based Compensation

We recognize compensation expense using a fair-value based method for costs associated with all share-based awards issued to our directors, employees and outside consultants under our stock plan. The value of the portion of the award that is ultimately expected to vest is recognized as expense on a straight-line basis over the requisite service periods in our Consolidated Statements of Income.

We have adopted the simplified method to calculate the beginning balance of the additional paid-in capital pool of the excess tax benefit and to determine the subsequent effect on the APIC pool and Consolidated Statements of Cash Flows of the tax effects of employee stock-based compensation awards that were outstanding upon our adoption.

We calculate stock-based compensation expense based on the number of awards ultimately expected to vest, net of estimated forfeitures. We estimate forfeiture rates at the time of grant and revise such rates, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The stock-based compensation expense was determined using the Black-Scholes option valuation model.

Stock-based compensation expense for employees and directors and non-employees for the years ended December 31, 2012, 2011 and 2010, is presented below:



	Year Ended December 31,
Stock-based Compensation	2012		2011		2010
(In thousands)
Employees and directors	$	650	$	337	$	662
Non-employees	287		50		—
Total	$	937	$	387	$	662

Stock-Based Incentive Plans

We currently have one active stock-based incentive plan under which we may grant stock-based awards to our employees, directors and consultants.

The total number of shares of common stock authorized for issuance, shares of common stock issued upon exercise of options or grant of restricted stock, shares of common stock subject to outstanding awards and available for grant under this plan as of December 31, 2012, is:



Title of Plan	Total Shares of Common Stock Authorized	Total Shares of Common Stock Issued	Total Shares of Common Stock Subject to Outstanding Awards	Total Shares of Common Stock Available for Grant
2005 Equity Incentive Plan⁽¹⁾	5,200,000	610,579	—	4,589,421
2002 Outside Directors Stock Option Plan⁽²⁾	157,000	140,750	16,250	—
1999 Non-statutory Stock Option Plan⁽²⁾	5,072,683	4,966,183	106,500	—
1999 Stock Option Plan⁽²⁾	3,726,719	3,653,150	73,569	—

_________________________


(1)	As of December 31, 2012, there were 120,436 shares of unvested restricted stock awards outstanding.


(2)	Plan terminated in 2009, subject to options outstanding under the plan.

Under our 2005 Equity Incentive Plan, we are authorized to issue a variety of incentive awards, including stock options, stock appreciation rights, restricted stock awards, restricted stock unit awards, performance share and performance unit awards, deferred compensation awards and other stock-based or cash-based awards.

In 2009, our Compensation Committee terminated the 1991 Nonstatutory Stock Option Plan. Additionally our Compensation Committee terminated the 1999 Outside Director Stock Option Plan, the 1999 Nonstatutory Stock Option Plan and the 2002 Outside Directors Stock Option Plan, subject to any outstanding options. Also in June 2009, our stockholders approved amendments to the Company’s 2005 Equity Incentive Plan to expand persons eligible to participate in the plan to include our outside directors.

Stock Option Activity

A summary of our stock option activity is presented below:



	2012				2011				2010
	Number of shares (in thousands)		Weighted-Average Exercise Price		Number of shares (in thousands)		Weighted-Average Exercise Price		Number of shares (in thousands)		Weighted-Average Exercise Price
Outstanding at beginning of year	231		$	16.62	274		$	17.25	1,564		$	19.82
Expired	(35	)	$	18.83	(43	)	$	20.67	(1,290	)	$	20.36
Outstanding at end of year	196		$	16.22	231		$	16.62	274		$	17.25
Exercisable at end of year	196		$	16.22	231		$	16.62	274		$	17.25

As of December 31, 2012, the aggregate intrinsic value of our outstanding and exercisable stock options was $0.1 million and the weighted-average remaining contractual life was 1.65 years. The aggregate intrinsic value represents the total pre-tax intrinsic value, based on the closing prices of our common stock of $7.04 on December 31, 2012, which would have been received by the option holders had option holders exercised their options as of that date. All stock options were fully vested as of 2010 and at December 31, 2012, had a range of exercise price of $5.41 to $22.60.

Restricted Stock

Restricted stock has the same rights as other issued and outstanding shares of the Company’s common stock, including, in some cases, the right to accrue dividends, and is held in escrow until the award vests. The compensation expense related to these awards is determined using the fair market value of the Company’s common stock on the date of the grant, and the compensation expense is recognized ratably over the vesting period. Restricted stock awards typically vest over twelve to 24 months. In addition to service requirements, vesting of restricted stock awards may be subject to the achievement of specified performance goals set by the Compensation Committee of the Company’s Board of Directors. If the performance goals are not met, no compensation expense is recognized and any previously recognized compensation expense is reversed.

A summary of our restricted stock activity is presented below:



	2012				2011				2010
	Number of shares (in thousands)		Weighted-average grant-date fair value per share		Number of shares (in thousands)		Weighted-average grant-date fair value per share		Number of shares (in thousands)		Weighted- average grant-date fair value per share
Nonvested at beginning of year	137		$	6.09	40		$	5.05	148		$	6.54
Awards granted	139		$	6.49	155		$	6.15	40		$	5.05
Awards vested	(137	)	$	6.09	(40	)	$	5.05	(148	)	$	6.54
Forfeited	(19	)	$	6.35	(18	)	$	6.59	—
Nonvested at end of year	120		$	6.51	137		$	6.09	40		$	5.05

Stock-based compensation expense associated with our restricted stock for the years ended December 31, 2012, 2011 and 2010, was $0.9 million, $0.4 million and $0.6 million, respectively. As of December 31, 2012, the aggregate intrinsic value of non-vested restricted stock was $0.8 million. Total unrecognized compensation costs associated with non-vested restricted stock as of December 31, 2012, was $0.5 million, excluding forfeitures, which we expect to recognize over a weighted-average period of ten months.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

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-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-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 AICPA
-Name Statement of Position (SOP)
-Number 93-6
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-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

Cash Dividends	12 Months Ended
Cash Dividends	Dec. 31, 2012
Cash Dividends [Abstract]
Cash Dividends	15. Cash Dividends On January 23, 2013, our board of directors declared that the regular quarterly dividends to be paid to our stockholders in 2013 will be $0.15 per share of common stock, payable on March 12, June 12, September 12 and December 12 of 2013 to stockholders of record on March 5, June 5, September 5 and December 5 of 2013, the record dates for each of the dividend payments, respectively. On January 18, 2012, our board of directors declared regular quarterly dividends of $0.15 per share of common stock, which were paid on March 14, June 14, September 14 and December 14 of 2012 to stockholders of record on March 7, June 7, September 7 and December 7 of 2012, the record dates for each of the dividend payments, respectively. We paid $83.9 million in dividends in 2012. On February 25, 2011, our board of directors declared regular quarterly dividends of $0.15 per share of common stock, which were paid on March 15, June 15, September 15 and December 15 of 2011 to stockholders of record on March 8, June 8, September 8 and December 8 of 2011, the record dates for each of the dividend payment dates, respectively. We paid $83.8 million in dividends in 2011. In January 2010, our board of directors declared two special cash dividends of $0.50 per share of common stock payable on April 1, 2010, and October 1, 2010. We paid $59.9 million to our stockholders on April 1, 2010, and $69.8 million to our stockholders on October 1, 2010.

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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-Name Accounting Standards Codification
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-Paragraph 4
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-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187143-122770

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-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

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-Name Accounting Research Bulletin (ARB)
-Number 43
-Section B
-Paragraph 7, 11A
-Chapter 1
-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.

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-Name Accounting Principles Board Opinion (APB)
-Number 12
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-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 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.

Reference 17: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph d
-Article 4

Reference 18: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 29, 30, 31
-Article 5

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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 20: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 08
-Article 4

Reference 21: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

Reference 22: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 129
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-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 23: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 04
-Article 3

+ Details

Customer Concentration

12 Months Ended

Dec. 31, 2012

Customer Concentration [Abstract]

Customer Concentration

16. Customer Concentration

The percentage of total revenue earned from licensees net sales, which individually accounted for 10% or more of our total revenues:



	Year Ended December 31,
	2012		2011		2010
Licensees
Genentech	85	%	86	%	86	%
Elan	13	%	12	%	10	%

Total revenues by geographic area are based on the country of domicile of the counterparty to the agreement:



	Year Ended December 31,
(In thousands)	2012		2011		2010
United States	$	133,824	$	137,269	$	130,070
Europe	240,626		224,472		213,677
Other	75		300		1,228
Total revenues	$	374,525	$	362,041	$	344,975

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=6927468&loc=d3e6327-108592

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-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 20
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 94-6
-Paragraph 21, 22, 24
-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 107
-Paragraph 15A
-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

Income Taxes

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Income Taxes

17. Income Taxes

The provision for income taxes consisted of the following:



	Year Ended December 31,
(In thousands)	2012		2011		2010
Current income tax expense
Federal	$	104,152	$	83,569	$	91,325
State	1		1		11
Total current	104,153		83,570		91,336
Deferred income tax expense (benefit)	11,311		24,469		(32,840		)
Total provision	$	115,464	$	108,039	$	58,496

A reconciliation of the income tax provision computed using the U.S. statutory federal income tax rate compared to the income tax provision for income included in the Consolidated Statements of Income is:



	Year Ended December 31,
(In thousands)	2012		2011		2010
Tax at U.S. statutory rate on income before income taxes	$	114,496	$	107,600	$	52,630
Change in valuation allowance	—		—		296
State taxes	1		1		11
Non-deductible loss on retirement or conversion of convertible notes	—		—		4,960
Other	967		438		599
Total	$	115,464	$	108,039	$	58,496

Deferred tax assets and liabilities are determined based on the differences between financial reporting and income tax bases of assets and liabilities, as well as net operating loss carryforwards and are measured using the enacted tax rates and laws in effect when the differences are expected to reverse. The significant components of our net deferred tax assets and liabilities are:



	December 31,
(In thousands)	2012			2011
Deferred tax assets:
Net operating loss carryforwards	$	6,686		$	7,308
Research and other tax credits	15,205			5,743
Intangible assets	5,487			7,403
Stock-based compensation	222			273
Reserves and accruals	229			10,087
Deferred revenue	—			600
Unrealized loss on foreign currency hedge contracts	2,740			1,031
Other	227			974
Total deferred tax assets	30,796			33,419
Valuation allowance	(20,392		)	(10,930		)
Total deferred tax assets, net of valuation allowances	10,404			22,489
Deferred tax liabilities:
Deferred gain on repurchase of convertible notes	(954		)	(954		)
Debt modifications	(3,285		)	—
Total deferred tax liabilities	(4,239		)	(954		)
Net deferred tax assets	$	6,165		$	21,535

As of December 31, 2012 and 2011, we had federal net operating loss carryforwards of $41.1 million and $42.9 million, respectively. We also had California net operating loss carryforwards of $215.5 million as of December 31, 2012 and 2011. The federal net operating loss carryforwards will expire in the year 2023 and the California net operating loss carryforwards will expire in 2019, if not utilized. As of December 31, 2012 and 2011, we had $20.0 million of state tax credit carryforwards that will expire in 2028, if not utilized. The net operating loss carryforwards and tax credit carryforwards which resulted from exercises of stock options were not recorded on the Consolidated Balance Sheet.

Utilization of the federal and state net operating loss and tax credit carryforwards may be subject to a substantial annual limitation due to the "change in ownership" provisions of the Internal Revenue Code of 1986. The annual limitation may result in the expiration of net operating losses and credits before utilization. We have an annual limitation on the utilization of our federal operating losses of $1.8 million for each of the years ending December 31, 2013 to 2022, and $1.3 million for the year ending December 31, 2023. As of December 31, 2012, we estimate that at least $22.0 million of the $41.1 million of federal net operating loss carryforwards and $18.7 million of the $18.7 million state net operating losses will expire unutilized.

A reconciliation of our unrecognized tax benefits, excluding accrued interest and penalties, for 2012 and 2011 is:



	December 31,
(In thousands)	2012		2011
Balance at the beginning of the year	$	23,061	$	23,061
Increases related to tax positions from prior fiscal years	4,029		—
Increases related to tax positions taken during current fiscal year	5,557		—
Expiration of statute of limitations for the assessment of taxes	—		—
Balance at the end of the year	$	32,647	$	23,061

The future impact of the unrecognized tax benefit of $32.6 million, if recognized, is as follows: $12.2 million would affect the effective tax rate and $20.4 million would result in adjustments to deferred tax assets and corresponding adjustments to the valuation allowance. We periodically evaluate our exposures associated with our tax filing positions. During 2012, as a result of the evaluation of our uncertain tax positions, we increased the unrecognized tax benefits by $9.6 million primarily related to our tax attributes.

Estimated interest and penalties associated with unrecognized tax benefits increased income tax expense in the Consolidated Statements of Income by $0.2 million during the year ended December 31, 2012, $0.5 million during the year ended December 31, 2011, and decreased income tax expense by approximately $26,000 during the year ended December 31, 2010. In general, our income tax returns are subject to examination by U.S. federal, state, and local tax authorities for tax years 1996 forward. Interest and penalties associated with unrecognized tax benefits accrued on the balance sheet were $0.7 million and $0.6 million as of December 31, 2012 and 2011, respectively. In May 2012, PDL received a “no-change” letter from the Internal Revenue Service (IRS) upon completion of an examination of the Company's 2008 Federal tax return. We are currently under income tax examination in the state of California for tax years 2009 and 2008.

Although the timing of the resolution of income tax examinations is highly uncertain, and the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ materially from the amounts accrued for each year, we do not anticipate any material change to the amount of our unrecognized tax benefits over the next twelve months.

- 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

+ Details

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2012

Accumulated Other Comprehensive Income (Loss) [Abstract]

Accumulated Other Comprehensive Income (Loss)

18. Accumulated Other Comprehensive Income (Loss)

Comprehensive income is comprised of net income and other comprehensive income (loss). We include unrealized net gains on investments held in our available-for-sale securities and unrealized gains (losses) on our cash flow hedges in other comprehensive income (loss), and present the amounts net of tax. Our other comprehensive income (loss) is included in our Consolidated Statements of Comprehensive Income.

The balance of accumulated other comprehensive income (loss), net of tax, was as follows:



	Unrealized gain (loss) on available-for- sale securities			Unrealized gain (loss) on cash flow hedges			Total Accumulated Other Comprehensive Income (Loss)
(In thousands)
Beginning Balance at December 31, 2009	$	—		$	—		$	—
Activity for the year ended December 31, 2010	(1		)	3,220			3,219
Balance at December 31, 2010	(1		)	3,220			3,219

Activity for the year ended December 31, 2011	30			(5,134		)	(5,104		)
Balance at December 31, 2011	29			(1,914		)	(1,885		)

Activity for the year ended December 31, 2012	(22		)	(3,181		)	(3,203		)
Ending Balance at December 31, 2012	$	7		$	(5,095	)	$	(5,088	)

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=6959260&loc=d3e187085-122770

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
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-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e681-108580

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 14-26
-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 Proceedings	12 Months Ended
Legal Proceedings	Dec. 31, 2012
Legal Proceedings [Abstract]
Legal Proceedings	19. Legal Proceedings Resolution of Past Challenges to the Queen et al. Patents in the United States and Europe MedImmune Settlement On February 10, 2011, we entered into a definitive settlement agreement with MedImmune resolving all legal disputes with them, including those relating to MedImmune’s product Synagis^® and PDL’s patents known as the Queen et al. patents. Under the settlement agreement, PDL paid MedImmune $65.0 million on February 15, 2011, and an additional $27.5 million on February 9, 2012, for a total of $92.5 million. No further payments will be owed by MedImmune to PDL under its license to the Queen et al. patents as a result of past or future Synagis sales and MedImmune will cease any support, financial or otherwise, of any party involved in the appeal proceeding before the European Patent Office relating to the opposition against our '216B Patent including the opposition owned by BioTransplant. Settlement with UCB On February 2, 2011, we reached a settlement with UCB. Under the settlement agreement, PDL provided UCB a covenant not to sue UCB for any royalties regarding UCB’s Cimzia^® product under the Queen et al. patents in return for a lump sum payment of $10.0 million to PDL and termination of pending patent interference proceedings before the U.S. Patent and Trademark office involving our U.S. Patent No. 5,585,089 patent and our U.S. Patent No. 6,180,370 in PDL’s favor. UCB also agreed to formally withdraw its opposition appeal challenging the validity of the ‘216B Patent. Settlement with Novartis On February 25, 2011, we reached a settlement with Novartis. Under the settlement agreement, PDL agreed to dismiss its claims against Novartis in its action in Nevada state court which also includes Genentech and Roche as defendants. Novartis agreed to withdraw its opposition appeal in the EPO challenging the validity of the ‘216B Patent. Under the settlement agreement with Novartis, we will pay Novartis certain amounts based on net sales of Lucentis made by Novartis during calendar year 2011 and beyond. The settlement does not affect our claims against Genentech and Roche in the Nevada state court action. We do not currently expect such amount to materially impact our total annual revenues. European Opposition to ‘216B Patent Termination of European Opposition to ‘216B Patent Pursuant to our settlements with UCB, MedImmune and Novartis, and as a result of our acquisition of BioTransplant and subsequent withdrawal of BioTransplant’s appeal, all of the active appellants in the EPO opposition have formally withdrawn their participation in the appeal proceeding. Accordingly, the EPO has canceled the appeal proceeding and terminated the opposition proceeding in its entirety, with the result that the 2007 EPO decision upholding the claims of our ‘216B Patent as valid will become the final decision of the EPO. In the year ending December 31, 2012, approximately 38% of our royalty revenues were derived from sales of products that were made in Europe and sold outside of the United States. Genentech / Roche Matter Communications with Genentech regarding European SPCs In August 2010, we received a letter from Genentech, sent on behalf of Roche and Novartis, asserting that Avastin, Herceptin, Lucentis and Xolair do not infringe the SPCs granted to PDL by various countries in Europe covering these products and seeking a response from PDL to these assertions. Genentech did not state what actions, if any, it intends to take with respect to its assertions. PDL’s SPCs were granted by the relevant national patent offices in Europe and specifically cover Avastin, Herceptin, Lucentis and Xolair. Our SPCs effectively extend our European patent protection for the ‘216B Patent generally until December 2014, except that the SPCs for Herceptin will generally expire in July 2014. Genentech’s letter does not suggest that any of the Genentech Products do not infringe PDL’s U.S. patents to the extent that such Genentech Products are made, used or sold in the United States. Genentech’s quarterly royalty payments received in August and November of 2010 after receipt of the letter included royalties generated on all worldwide sales of the Genentech Products. If Genentech is successful in asserting this position, then under the terms of our license agreements with Genentech, it would not owe us royalties on sales of Avastin, Herceptin, Lucentis and Xolair that are both manufactured and sold outside of the United States. Royalties on sales of Avastin, Herceptin, Lucentis and Xolair that are made and sold outside of the United States accounted for approximately 38% of our royalty revenues for the year ended December 31, 2012. We believe that the SPCs are enforceable against the Genentech Products, that Genentech’s letter violates the terms of the 2003 settlement agreement and that Genentech owes us royalties on sales of the Genentech Products on a worldwide basis. We intend to vigorously assert our SPC-based patent rights. Nevada Litigation with Genentech, Roche and Novartis in Nevada State Court In August 2010, we filed a complaint in the Second Judicial District of Nevada, Washoe County, naming Genentech, Roche and Novartis as defendants. We intend to enforce our rights under our 2003 settlement agreement with Genentech and are seeking an order from the court declaring that Genentech is obligated to pay royalties to us on ex-U.S.-based Manufacturing and Sales of Avastin, Herceptin, Lucentis and Xolair. The 2003 settlement agreement was entered into as part of a definitive agreement resolving intellectual property disputes between the two companies at that time. The agreement limits Genentech’s ability to challenge infringement of our patent rights and waives Genentech’s right to challenge the validity of our patent rights. Certain breaches of the 2003 settlement agreement as alleged by our complaint require Genentech to pay us liquidated and other damages of potentially greater than one billion dollars. This amount includes a retroactive royalty rate of 3.75% on past U.S.-based Sales of the Genentech Products and interest, among other items. We may also be entitled to either terminate our license agreements with Genentech or be paid a flat royalty of 3.75% on future U.S.-based Sales of the Genentech Products. On February 25, 2011, we reached a settlement with Novartis under which, among other things, we agreed to dismiss our claims against Novartis in the action in Nevada state court against Genentech, Roche and Novartis. Genentech and Roche continue to be parties to the Nevada suit. The court has scheduled trial to commence on October 7, 2013. The outcome of this litigation is uncertain and we may not be successful in our allegations.

Subsequent Event	12 Months Ended
Subsequent Event	Dec. 31, 2012
Subsequent Event [Abstract]
Subsequent Event	20. Subsequent Event On February 28, 2013, PDL and Wellstat Diagnostics entered in a forbearance agreement whereby PDL has agreed to refrain from exercising available remedies in connection with the default of the credit agreement dated November 2, 2012, for 120 days while Wellstat Diagnostics raises funds to capitalize the business and the parties attempt to negotiate a revised credit agreement. The Company also agreed to provided up to $7.9 million to Wellstat Diagnostics to fund the business for the 120-day forbearance period under the terms of the credit agreement. The notes are payable on demand and bear interest at 20% per annum and are secured by the assets and equity interest in Wellstat Diagnostics.

Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Data (Unaudited) [Abstract]

Quarterly Financial Data (Unaudited)

21. Quarterly Financial Data (Unaudited)



	2012 Quarter Ended
(In thousands, except per share data)	December 31		September 30		June 30		March 31
Revenues	$	86,046	$	85,231	$	125,904	$	77,344
Net income	$	49,408	$	48,575	$	73,502	$	40,184
Net income per basic share	$	0.35	$	0.35	$	0.53	$	0.29
Net income per diluted share	$	0.34	$	0.32	$	0.52	$	0.29



	2011 Quarter Ended
(In thousands, except per share data)	December 31		September 30		June 30		March 31
Revenues	$	72,808	$	83,770	$	122,127	$	83,336
Net income	$	38,942	$	45,916	$	69,986	$	44,545
Net income per basic share	$	0.28	$	0.33	$	0.50	$	0.32
Net income per diluted share	$	0.24	$	0.28	$	0.38	$	0.25

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References + Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2012

Summary of Significant Accounting Policies [Abstract]

Basis of Presentation, Policy

Basis of Presentation

Principles of Consolidation, Policy

Principles of Consolidation

Management Estimates, Policy

Management Estimates

Segment Disclosures, Policy

Segment Disclosures

Cash Equivalents and Investments, Policy

Cash Equivalents and Investments

Fair Value Measurements, Policy

Fair Value Measurements

Level 1 – based on quoted market prices in active markets for identical assets and liabilities;

Level 2 – based on quoted market prices for similar assets and liabilities, using observable market based inputs or unobservable market based inputs corroborated by market data, and

Level 3 – based on unobservable inputs using management’s best estimate and assumptions when inputs are unavailable.

We do not estimate the fair value of our royalty assets for financial statement reporting purposes.

Notes Receivable, Policy

Notes and Other Long-Term Receivables

Foreign Currency Hedging, Policy

Foreign Currency Hedging

We enter into foreign currency hedges to manage exposures arising in the normal course of business and not for speculative purposes.

Revenue Recognition, Policy

Revenue Recognition

Royalty Revenues

Comprehensive Income (Loss), Policy

Comprehensive Income (Loss)

Property and Equipment, Policy

Property and Equipment



Leasehold improvements		Shorter of asset life or term of lease
Computer and office equipment		3 years
Furniture and fixtures		7 years

Recent Accounting Pronouncements, Policy

Recent Accounting Pronouncements

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Significant Accounting Policies [Abstract]

Schedule of property and equipment



Leasehold improvements		Shorter of asset life or term of lease
Computer and office equipment		3 years
Furniture and fixtures		7 years

Net Income per Share (Tables)

12 Months Ended

Dec. 31, 2012

Net Income per Share [Abstract]

Schedule of calculation of numerator and denominator in earnings per share



	Year Ended December 31,
(In thousands, except per share amounts)	2012		2011		2010
Numerator
Net income	$	211,669	$	199,389	$	91,874
Add back interest expense for convertible notes, net of estimated tax of $25,000, $3.0 million and $2.7 million, for the years ended December 31, 2012, 2011 and 2010, respectively (see Note 12)	46		5,544		5,087
Income used to compute net income per diluted share	$	211,715	$	204,933	$	96,961
Denominator
Total weighted-average shares used to compute net income per basic share	139,711		139,663		126,578
Effect of dilutive stock options	95		13		9
Restricted stock outstanding	17		25		103
Assumed conversion of Series 2012 notes	4,944		—		—
Assumed conversion of 2012 notes	—		9,790		29,870
Assumed conversion of February 2015 notes	631		27,950		4,229
Assumed conversion of May 2015 notes	1,005		—		—
Assumed conversion of 2023 notes	—		—		18,012
Shares used to compute net income per diluted share	146,403		177,441		178,801
Net income per basic share	$	1.52	$	1.43	$	0.73
Net income per diluted share	$	1.45	$	1.15	$	0.54

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2012

Fair Value Measurements [Abstract]

Schedule of fair value of financial instruments measured on recurring basis



	December 31, 2012						December 31, 2011
(In thousands)	Level 1		Level 2		Total		Level 1		Level 2		Total
Assets:
Money market funds	$	121,095	$	—	$	121,095	$	163,368	$	—	$	163,368
Certificates of deposit	—		26,128		26,128		—		—		—
Corporate debt securities	—		13,572		13,572		—		44,877		44,877
Commercial paper	—		—		—		—		8,996		8,996
U.S. government sponsored agency bonds	—		—		—		2,015		—		2,015
U.S. treasury securities	—		—		—		5,513		—		5,513
Foreign currency hedge contracts	—		—		—		—		6,838		6,838
Total	$	121,095	$	39,700	$	160,795	$	170,896	$	60,711	$	231,607

Liabilities:
Foreign currency hedge contracts	$	—	$	7,581	$	7,581	$	—	$	9,783	$	9,783

Schedule of fair value of assets and liabilities not subject to fair value recognition by level within the valuation hierarchy



	December 31, 2012						December 31, 2011
	Carrying Value		Level 2		Level 3		Carrying Value		Level 2		Level 3
(In thousands)
Assets:
Wellstat Diagnostics note receivable	$	41,098	$	—	$	41,098	$	—	$	—	$	—
Merus Labs note receivable	30,000		30,000		—		—		—		—
AxoGen note receivable	22,110		—		22,110		—		—		—
Total	$	93,208	$	30,000	$	63,208	$	—	$	—	$	—
Liabilities:
Series 2012 Notes	$	165,528	$	227,187	$	—	$	—	$	—	$	—
May 2015 Notes	143,433		182,031		—		138,952		156,123		—
February 2015 Notes	991		1,269		—		177,663		191,475		—
Non-recourse Notes	—		—		—		93,370		95,237		—
Total	$	309,952	$	410,487	$	—	$	409,985	$	442,835	$	—

Cash Equivalents and Investments (Tables)

12 Months Ended

Dec. 31, 2012

Cash Equivalents and Investments [Abstract]

Summary of cash and available-for-sale securities



Summary of Cash and Available-For-Sale Securities	Adjusted Cost		Unrealized Gains		Unrealized Losses			Fair Value		Cash and Cash Equivalents		Restricted Investment		Short-Term Marketable Securities		Long-Term Marketable Securities
(In thousands)
December 31, 2012
Cash	$	7,894	$	—	$	—		$	7,894	$	7,894	$	—	$	—	$	—
Money market funds	121,095		—		—			121,095		121,095		—		—		—
Certificates of deposit	26,128		—		—			26,128		2,223		20,000		3,905		—
Corporate debt securities	13,562		10		—			13,572		—		—		13,572		—
Total	$	168,679	$	10	$	—		$	168,689	$	131,212	$	20,000	$	17,477	$	—

December 31, 2011
Cash	$	3,177	$	—	$	—		$	3,177	$	3,177	$	—	$	—	$	—
Money market funds	163,368		—		—			163,368		163,368		—		—		—
Corporate debt securities	44,863		57		(43		)	44,877		—		—		27,776		17,101
Commercial paper	8,997		—		(1		)	8,996		1,999		—		6,997		—
U.S. government sponsored agency bonds	2,003		12		—			2,015		—		—		2,015		—
U.S. treasury securities	5,494		19		—			5,513		—		—		5,513		—
Total	$	227,902	$	88	$	(44	)	$	227,946	$	168,544	$	—	$	42,301	$	17,101

Investments classified by contractual maturity date



Cash and Available-For-Sale Securities by Contractual Maturity	December 31, 2012				December 31, 2011
(In thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Less than one year	$	168,679	$	168,689	$	210,807	$	210,845
Greater than one year but less than five years	—		—		17,095		17,101
Total	$	168,679	$	168,689	$	227,902	$	227,946

Foreign Currency Hedging (Tables)

12 Months Ended

Dec. 31, 2012

Foreign Currency Hedging [Abstract]

Schedule of Euro forward contracts and Euro forward option contracts



Euro Forward Contracts			December 31, 2012					December 31, 2011
			(In thousands)					(In thousands)
Currency	Settlement Price ($ per Euro)	Type	Notional Amount		Fair Value			Notional Amount		Fair Value
Euro	1.400	Sell Euro	$	—	$	—		$	25,150	$	1,837
Euro	1.200	Sell Euro	—		—			117,941		(9,783		)
Euro	1.230	Sell Euro	27,553		(2,036		)	—		—
Euro	1.240	Sell Euro	10,850		(726		)	—		—
Euro	1.270	Sell Euro	44,450		(1,950		)	—		—
Euro	1.281	Sell Euro	36,814		(1,331		)	—		—
Euro	1.300	Sell Euro	91,000		(1,538		)	—		—
Total			$	210,667	$	(7,581	)	$	143,091	$	(7,946	)



Euro Option Contracts			December 31, 2012				December 31, 2011
			(In thousands)				(In thousands)
Currency	Strike Price ($ per Euro)	Type	Notional Amount		Fair Value		Notional Amount		Fair Value
Euro	1.510	Purchased call option	$	—	$	—	$	27,126	$	—
Euro	1.315	Purchased call option	—		—		129,244		5,001
Total			$	—	$	—	$	156,370	$	5,001

Schedule of location and fair values of Euro contracts in Consolidated Balance Sheets



		December 31,
Cash Flow Hedge	Location	2012		2011
(In thousands)
Euro contracts	Prepaid and other current assets	$	—	$	1,837
Euro contracts	Accrued liabilities	$	3,574	$	4,134
Euro contracts	Other long-term liabilities	$	4,007	$	648

Schedule of the effect of derivative instruments in the Consolidated Statements of Income and Consolidated Statements of Comprehensive Income



	Year Ended December 31,
	2012			2011			2010
(In thousands)
Net gain (loss) recognized in OCI, net of tax ⁽¹⁾	$	(5,040	)	$	(4,470	)	$	5,134
Gain (loss) reclassified from accumulated OCI into royalty revenue, net of tax ⁽²⁾	$	(1,859	)	$	664		$	1,914
Net loss recognized in interest and other income, net -- cash flow hedges ⁽³⁾	$	(169	)	$	(19	)	$	—
Net gain recognized in interest and other income, net -- non-designated contracts ⁽⁴⁾	$	391		$	—		$	—
Amount excluded from effectiveness testing	$	—		$	—		$	—

_________________________

(1) Net change in the fair value of the effective portion of cash flow hedges classified in other comprehensive income (loss) (OCI)

(2) Effective portion classified as royalty revenue

(4) Gain on de-designation classified as interest and other income, net

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41641-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41678-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5580258-113959

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 25
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 10: 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.(n)(2))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41620-113959

+ Details

Prepaid and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2012

Prepaid and Other Current Assets [Abstract]

Schedule of prepaid and other current assets



	December 31,
(In thousands)	2012		2011
Non-recourse Notes issuance costs	$	—	$	1,226
Foreign currency exchange	—		1,837
Prepaid income taxes	3,351		8,297
Other	1,462		654
Total	$	4,813	$	12,014

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2012

Property and Equipment [Abstract]

Schedule of property and equipment



	December 31,
(In thousands)	2012			2011
Leasehold improvements	$	127		$	112
Computer and office equipment	8,993			8,989
Furniture and fixtures	38			38
Total	9,158			9,139
Less accumulated depreciation and amortization	(9,131		)	(9,117		)
Construction in progress	32			—
Property and equipment, net	$	59		$	22

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2012

Accrued Liabilities [Abstract]

Schedule of accrued liabilities



	December 31,
(In thousands)	2012		2011
Compensation	$	594	$	1,341
Interest	2,925		3,351
Deferred revenue	—		1,713
Foreign currency hedge	3,574		4,134
Dividend payable	53		52
Legal	2,020		673
Other	234		345
Total	$	9,400	$	11,609

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies [Abstract]

Schedule of future minimum rental payments for operating leases



(In thousands)
2013	$	285
2014	84
Total	$	369

Convertible Notes and Non-recourse Notes (Tables)

12 Months Ended

Dec. 31, 2012

Convertible and Non-Recourse Notes [Abstract]

Schedule of convertible and non-recourse notes activity



(In thousands)	2012 Notes			Series 2012 Notes			May 2015 Notes		February 2015 Notes			Non-recourse Notes			Total
Balance at December 31, 2010	$	133,464		$	—		$	—	$	176,964		$	204,270		$	514,698
Issuance	—			—			136,313		—			—			136,313
Payment	—			—			—		—			(110,900		)	(110,900		)
Repurchase	(133,464		)	—			—		—			—			(133,464		)
Discount amortization	—			—			2,639		699			—			3,338
Balance at December 31, 2011	—			—			138,952		177,663			93,370			409,985
Issuance and exchange	—			176,679			—		(176,679		)	—			—
Payment	—			—			—		—			(93,370		)	(93,370		)
Non-cash discount	—			(16,833		)	—		—			—			(16,833		)
Discount amortization	—			5,682			4,481		7			—			10,170
Balance at December 31, 2012	$	—		$	165,528		$	143,433	$	991		$	—		$	309,952

Schedule of carrying value and unamortized discount on Series 2012 Notes



	December 31,
(In thousands)	2012			2011
Principal amount of the Series 2012 Notes	$	179,000		$	—
Unamortized discount of liability component	(13,472		)	—
Net carrying value of the Series 2012 Notes	$	165,528		$	—

Schedule of interest expense on Series 2012 Notes



	Year ended December 31,
(In thousands)	2012		2011		2010
Contractual coupon interest	$	5,122	$	—	$	—
Amortization of debt issuance costs	1,107		—		—
Amortization of debt discount	5,682		—		—
Total	$	11,911	$	—	$	—

Schedule of carrying value and unamortized discount on May 2015 Notes



	December 31,
(In thousands)	2012			2011
Principal amount of the May 2015 Notes	$	155,250		$	155,250
Unamortized discount of liability component	(11,817		)	(16,298		)
Net carrying value of the May 2015 Notes	$	143,433		$	138,952

Schedule of interest expense for May 2015 Notes



	Year Ended December 31,
(In thousands)	2012		2011		2010
Contractual coupon interest	$	5,822	$	3,639	$	—
Amortization of debt issuance costs	1,193		727		—
Amortization of debt discount	4,481		2,639		—
Total	$	11,496	$	7,005	$	—

Schedule of future minimum principal payments



(In thousands)	Series 2012 Notes		May 2015 Notes		February 2015 Notes		Total
2013	$	—	$	—	$	—	$	—
2014	—		—		—		—
2015	179,000		155,250		1,000		335,250
Total	$	179,000	$	155,250	$	1,000	$	335,250

Other Long-Term Liabilities (Tables)

12 Months Ended

Dec. 31, 2012

Other Long-Term Liabilities [Abstract]

Schedule of other liabilities



	December 31,
(In thousands)	2012		2011
Accrued lease liability	$	10,700	$	10,700
Uncertain tax position	12,955		12,774
Foreign currency hedge	4,007		648
Total	$	27,662	$	24,122

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2012

Stock-Based Compensation [Abstract]

Schedule of stock-based compensation expense for employees and directors and non-employees



	Year Ended December 31,
Stock-based Compensation	2012		2011		2010
(In thousands)
Employees and directors	$	650	$	337	$	662
Non-employees	287		50		—
Total	$	937	$	387	$	662

Schedule of common stock activity available under share-based compensation plans

Title of Plan	Total Shares of Common Stock Authorized	Total Shares of Common Stock Issued	Total Shares of Common Stock Subject to Outstanding Awards	Total Shares of Common Stock Available for Grant
2005 Equity Incentive Plan⁽¹⁾	5,200,000	610,579	—	4,589,421
2002 Outside Directors Stock Option Plan⁽²⁾	157,000	140,750	16,250	—
1999 Non-statutory Stock Option Plan⁽²⁾	5,072,683	4,966,183	106,500	—
1999 Stock Option Plan⁽²⁾	3,726,719	3,653,150	73,569	—

_________________________


(1)	As of December 31, 2012, there were 120,436 shares of unvested restricted stock awards outstanding.


(2)	Plan terminated in 2009, subject to options outstanding under the plan.

Summary of stock option activity



	2012				2011				2010
	Number of shares (in thousands)		Weighted-Average Exercise Price		Number of shares (in thousands)		Weighted-Average Exercise Price		Number of shares (in thousands)		Weighted-Average Exercise Price
Outstanding at beginning of year	231		$	16.62	274		$	17.25	1,564		$	19.82
Expired	(35	)	$	18.83	(43	)	$	20.67	(1,290	)	$	20.36
Outstanding at end of year	196		$	16.22	231		$	16.62	274		$	17.25
Exercisable at end of year	196		$	16.22	231		$	16.62	274		$	17.25

Summary of restricted stock activity



	2012				2011				2010
	Number of shares (in thousands)		Weighted-average grant-date fair value per share		Number of shares (in thousands)		Weighted-average grant-date fair value per share		Number of shares (in thousands)		Weighted- average grant-date fair value per share
Nonvested at beginning of year	137		$	6.09	40		$	5.05	148		$	6.54
Awards granted	139		$	6.49	155		$	6.15	40		$	5.05
Awards vested	(137	)	$	6.09	(40	)	$	5.05	(148	)	$	6.54
Forfeited	(19	)	$	6.35	(18	)	$	6.59	—
Nonvested at end of year	120		$	6.51	137		$	6.09	40		$	5.05

- Definition

Tabular disclosure of an equity-based arrangement (such as stock or unit options and stock or unit awards) with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain equity-based awards at future dates, sometimes including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares or units issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability.

+ References + Details

Customer Concentration (Tables)

12 Months Ended

Dec. 31, 2012

Customer Concentration [Abstract]

Schedule of entity wide information revenue from external customers by products and services



	Year Ended December 31,
	2012		2011		2010
Licensees
Genentech	85	%	86	%	86	%
Elan	13	%	12	%	10	%

Schedule of revenue from external customers attributed to foreign countries by geographic area



	Year Ended December 31,
(In thousands)	2012		2011		2010
United States	$	133,824	$	137,269	$	130,070
Europe	240,626		224,472		213,677
Other	75		300		1,228
Total revenues	$	374,525	$	362,041	$	344,975

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Schedule of components of provision for income taxes



	Year Ended December 31,
(In thousands)	2012		2011		2010
Current income tax expense
Federal	$	104,152	$	83,569	$	91,325
State	1		1		11
Total current	104,153		83,570		91,336
Deferred income tax expense (benefit)	11,311		24,469		(32,840		)
Total provision	$	115,464	$	108,039	$	58,496

Schedule of effective income tax rate reconciliation



	Year Ended December 31,
(In thousands)	2012		2011		2010
Tax at U.S. statutory rate on income before income taxes	$	114,496	$	107,600	$	52,630
Change in valuation allowance	—		—		296
State taxes	1		1		11
Non-deductible loss on retirement or conversion of convertible notes	—		—		4,960
Other	967		438		599
Total	$	115,464	$	108,039	$	58,496

Schedule of deferred tax assets and liabilities



	December 31,
(In thousands)	2012			2011
Deferred tax assets:
Net operating loss carryforwards	$	6,686		$	7,308
Research and other tax credits	15,205			5,743
Intangible assets	5,487			7,403
Stock-based compensation	222			273
Reserves and accruals	229			10,087
Deferred revenue	—			600
Unrealized loss on foreign currency hedge contracts	2,740			1,031
Other	227			974
Total deferred tax assets	30,796			33,419
Valuation allowance	(20,392		)	(10,930		)
Total deferred tax assets, net of valuation allowances	10,404			22,489
Deferred tax liabilities:
Deferred gain on repurchase of convertible notes	(954		)	(954		)
Debt modifications	(3,285		)	—
Total deferred tax liabilities	(4,239		)	(954		)
Net deferred tax assets	$	6,165		$	21,535

Schedule of reconciliation of unrecognized tax benefits excluding accrued interest and penalties



	December 31,
(In thousands)	2012		2011
Balance at the beginning of the year	$	23,061	$	23,061
Increases related to tax positions from prior fiscal years	4,029		—
Increases related to tax positions taken during current fiscal year	5,557		—
Expiration of statute of limitations for the assessment of taxes	—		—
Balance at the end of the year	$	32,647	$	23,061

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References + Details

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2012

Accumulated Other Comprehensive Income (Loss) [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)



	Unrealized gain (loss) on available-for- sale securities			Unrealized gain (loss) on cash flow hedges			Total Accumulated Other Comprehensive Income (Loss)
(In thousands)
Beginning Balance at December 31, 2009	$	—		$	—		$	—
Activity for the year ended December 31, 2010	(1		)	3,220			3,219
Balance at December 31, 2010	(1		)	3,220			3,219

Activity for the year ended December 31, 2011	30			(5,134		)	(5,104		)
Balance at December 31, 2011	29			(1,914		)	(1,885		)

Activity for the year ended December 31, 2012	(22		)	(3,181		)	(3,203		)
Ending Balance at December 31, 2012	$	7		$	(5,095	)	$	(5,088	)

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Data (Unaudited) [Abstract]

Schedule of Quarterly Financial Information



	2012 Quarter Ended
(In thousands, except per share data)	December 31		September 30		June 30		March 31
Revenues	$	86,046	$	85,231	$	125,904	$	77,344
Net income	$	49,408	$	48,575	$	73,502	$	40,184
Net income per basic share	$	0.35	$	0.35	$	0.53	$	0.29
Net income per diluted share	$	0.34	$	0.32	$	0.52	$	0.29



	2011 Quarter Ended
(In thousands, except per share data)	December 31		September 30		June 30		March 31
Revenues	$	72,808	$	83,770	$	122,127	$	83,336
Net income	$	38,942	$	45,916	$	69,986	$	44,545
Net income per basic share	$	0.28	$	0.33	$	0.50	$	0.32
Net income per diluted share	$	0.24	$	0.28	$	0.38	$	0.25

Organization and Business (Narrative) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Organization and Business [Abstract]
Royalty revenues under license agreements	$ 374,525	$ 351,641	$ 343,475

Summary of Significant Accounting Policies (Narrative) (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2012 USD ($)
Summary of Significant Accounting Policies [Abstract]
Number of operating segments (in Segments)	1
Maximum maturity period of investments considered as cash equivalents (in Duration)	3 months
Maximum total annual milestone payments (in Percent)	1.00%
Derivative Instruments, Loss Recognized in Other Comprehensive Income (Loss), Effective Portion	$ 8

Summary of Significant Accounting Policies (Schedule of Property and Equipment of Estimated Useful Lives) (Detail)	12 Months Ended
	Dec. 31, 2012
Leasehold improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives (in Description)	Shorter of asset life or term of lease
Computer and office equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life, average (in Years)	3
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life, average (in Years)	7

Net Income per Share (Narrative) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	May 16, 2011
Stock Options [Member]
Debt Instrument [Line Items]
Antidilutive securities excluded from computation of earnings per share (in Shares)	157,000	193,000	330,000
Warrants [Member]
Debt Instrument [Line Items]
Antidilutive securities excluded from computation of earnings per share (in Shares)	19,600,000	13,300,000
Purchased Call Options [Member]
Debt Instrument [Line Items]
Antidilutive securities excluded from computation of earnings per share (in Shares)	23,000,000	13,300,000
Series 2012 Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate (in Percent)	2.875%
Maturity date of the debt instrument (Date)	Feb. 15, 2015
Amount of convertible notes payable	$ 179,000
May 2015 Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate (in Percent)	2.875%			3.75%
Maturity date of the debt instrument (Date)	Feb. 15, 2015
February 2015 Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate (in Percent)	3.75%
Maturity date of the debt instrument (Date)	May 01, 2015
2012 Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate (in Percent)	2.00%
Maturity date of the debt instrument (Date)	Feb. 15, 2012
2023 Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate (in Percent)	2.75%
Maturity date of the debt instrument (Date)	Aug. 16, 2023

Net Income per Share (Net Income Per Basic and Diluted Share) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Numerator
Net income	$ 49,408	$ 48,575	$ 73,502	$ 40,184	$ 38,942	$ 45,916	$ 69,986	$ 44,545	$ 211,669	$ 199,389	$ 91,874
Add back interest expense for convertible notes, net of estimated tax of $25,000, $3.0 million, $2.7 million for the years ended December 31, 2012, 2011 and 2010, respectively (see Note 12)									46	5,544	5,087
Income used to compute net income per diluted share									$ 211,715	$ 204,933	$ 96,961
Denominator
Total weighted-average shares used to compute net income per basic share (in Shares)									139,711	139,663	126,578
Shares used to compute net income per diluted share (in Shares)									146,403	177,441	178,801
Net income per basic share (in Dollars per Share)	$ 0.35	$ 0.35	$ 0.53	$ 0.29	$ 0.28	$ 0.33	$ 0.50	$ 0.32	$ 1.52	$ 1.43	$ 0.73
Net income per diluted share (in Dollars per Share)	$ 0.34	$ 0.32	$ 0.52	$ 0.29	$ 0.24	$ 0.28	$ 0.38	$ 0.25	$ 1.45	$ 1.15	$ 0.54
Series 2012 Notes [Member]
Debt Instrument [Line Items]
Assumed conversion of debt notes (in Shares)									4,944	0	0
2012 Notes [Member]
Debt Instrument [Line Items]
Assumed conversion of debt notes (in Shares)									0	9,790	29,870
February 2015 Notes [Member]
Debt Instrument [Line Items]
Assumed conversion of debt notes (in Shares)									631	27,950	4,229
Due May 2015 [Member]
Debt Instrument [Line Items]
Assumed conversion of debt notes (in Shares)									1,005	0	0
2023 Notes [Member]
Debt Instrument [Line Items]
Assumed conversion of debt notes (in Shares)									0	0	18,012
Restricted Stock [Member]
Debt Instrument [Line Items]
Incremental common shares attributable to share based payment arrangements (in Shares)									17	25	103

Net Income per Share (Net Income Per Basic and Diluted Share) (Parentheticals) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Net Income per Share [Abstract]
Estimated tax on interest expense on convertible notes	$ 25	$ 3,000	$ 2,700

Fair Value Measurements (Narrative) (Detail) - USD ($)	12 Months Ended
Fair Value Measurements (Narrative) (Detail) - USD ($)	Dec. 31, 2012	Dec. 31, 2011
Fair Value Measurements [Abstract]
Certificate of deposit purchased to collateralize line of credit for Merus Labs	$ 20,000,000
Transfers from level 1 to level 2, amount	0	$ 0
Transfers from level 2 to level 1, amount	$ 0	$ 0
Period of expected income from existing product sales, discounted cash flow is based upon (in Duration)	15 years
Fair value inputs, discount rate (in Percent)	35.00%
Earnings before interest, taxes, depreciation and amortization multiple	17.5
Terminal value, sales multiple	3.0

Fair Value Measurements (Financial Instruments Measured at Fair Value on a Recurring Basis) (Detail) - Recurring [Member] - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Assets:
Money market funds	$ 121,095	$ 163,368
Certificate of deposit	26,128	0
Corporate debt securities	13,572	44,877
Commercial paper	0	8,996
U.S. government sponsored agency bonds	0	2,015
U.S. treasury securities	0	5,513
Foreign currency hedge contracts	0	6,838
Total	160,795	231,607
Liabilities:
Foreign currency hedge contracts	7,581	9,783
Fair Value Level 1 [Member]
Assets:
Money market funds	121,095	163,368
Certificate of deposit	0	0
Corporate debt securities	0	0
Commercial paper	0	0
U.S. government sponsored agency bonds	0	2,015
U.S. treasury securities	0	5,513
Foreign currency hedge contracts	0	0
Total	121,095	170,896
Liabilities:
Foreign currency hedge contracts	0	0
Fair Value Level 2 [Member]
Assets:
Money market funds	0	0
Certificate of deposit	26,128	0
Corporate debt securities	13,572	44,877
Commercial paper	0	8,996
U.S. government sponsored agency bonds	0	0
U.S. treasury securities	0	0
Foreign currency hedge contracts	0	6,838
Total	39,700	60,711
Liabilities:
Foreign currency hedge contracts	$ 7,581	$ 9,783

Fair Value Measurements (Schedule of Fair Value of Assets and Liabilities not Subject to Fair Value Recognition) (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Assets:
Notes receivable, Carrying Value	$ 93,208	$ 0
Liabilities:
Notes payable, Carrying Value	309,952	409,985	$ 514,698
Series 2012 Notes [Member]
Liabilities:
Notes payable, Carrying Value	165,528	0	0
May 2015 Notes [Member]
Liabilities:
Notes payable, Carrying Value	143,433	138,952	0
February 2015 Notes [Member]
Liabilities:
Notes payable, Carrying Value	991	177,663	176,964
Non Recourse Notes [Member]
Liabilities:
Notes payable, Carrying Value	0	93,370	$ 204,270
Wellstat Note Receivable [Member]
Assets:
Notes receivable, Carrying Value	41,098	0
Merus Labs Note Receivable [Member]
Assets:
Notes receivable, Carrying Value	30,000	0
AxoGen Note Receivable [Member]
Assets:
Notes receivable, Carrying Value	22,110	0
Fair Value Level 2 [Member]
Assets:
Notes receivable, Fair Value	30,000	0
Liabilities:
Notes payable, Fair Value	410,487	442,835
Fair Value Level 2 [Member] \| Series 2012 Notes [Member]
Liabilities:
Notes payable, Fair Value	227,187	0
Fair Value Level 2 [Member] \| May 2015 Notes [Member]
Liabilities:
Notes payable, Fair Value	182,031	156,123
Fair Value Level 2 [Member] \| February 2015 Notes [Member]
Liabilities:
Notes payable, Fair Value	1,269	191,475
Fair Value Level 2 [Member] \| Non Recourse Notes [Member]
Liabilities:
Notes payable, Fair Value	0	95,237
Fair Value Level 2 [Member] \| Wellstat Note Receivable [Member]
Assets:
Notes receivable, Fair Value	0	0
Fair Value Level 2 [Member] \| Merus Labs Note Receivable [Member]
Assets:
Notes receivable, Fair Value	30,000	0
Fair Value Level 2 [Member] \| AxoGen Note Receivable [Member]
Assets:
Notes receivable, Fair Value	0	0
Fair Value Level 3 [Member]
Assets:
Notes receivable, Fair Value	63,208	0
Liabilities:
Notes payable, Fair Value	0	0
Fair Value Level 3 [Member] \| Series 2012 Notes [Member]
Liabilities:
Notes payable, Fair Value	0	0
Fair Value Level 3 [Member] \| May 2015 Notes [Member]
Liabilities:
Notes payable, Fair Value	0	0
Fair Value Level 3 [Member] \| February 2015 Notes [Member]
Liabilities:
Notes payable, Fair Value	0	0
Fair Value Level 3 [Member] \| Non Recourse Notes [Member]
Liabilities:
Notes payable, Fair Value	0	0
Fair Value Level 3 [Member] \| Wellstat Note Receivable [Member]
Assets:
Notes receivable, Fair Value	41,098	0
Fair Value Level 3 [Member] \| Merus Labs Note Receivable [Member]
Assets:
Notes receivable, Fair Value	0	0
Fair Value Level 3 [Member] \| AxoGen Note Receivable [Member]
Assets:
Notes receivable, Fair Value	$ 22,110	$ 0

Cash Equivalents and Investments (Narrative) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Cash Equivalents and Investments [Abstract]
Gains on sales of available-for-sale securities	$ 13	$ 0	$ 0
Unrealized gain (loss) on available-for-sale securities	7	29	$ (1)	$ 0
Other-than-temporary impairments on available-for-sale securities	$ 0	$ 0

- Definition

The amount by which the fair value of an investment is less than the amortized cost basis or carrying amount of that investment at the balance sheet date and the decline in fair value is deemed to be other than temporary, before considering whether or not such amount is recognized in earnings or other comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 35
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=16383099&loc=d3e25351-111560

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 15C
-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 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 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 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 16B
-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 FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 16
-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 FASB
-Name FASB Staff Position (FSP)
-Number FAS115-2/124-2
-Paragraph 22
-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

Cash Equivalents and Investments (Summary of Cash and Available-For-Sale Securities) (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Schedule of Available-For-Sale Securities [Line Items]
Adjusted Cost	$ 168,679	$ 227,902
Unrealized Gains	10	88
Unrealized Losses	0	(44)
Total, Fair Value	168,689	227,946
Cash and Cash Equivalents	131,212	168,544	$ 211,574	$ 303,227
Restricted Investment	20,000	0
Short-Term Marketable Securities	17,477	42,301
Long-Term Marketable Securities	0	17,101
Cash and Cash Equivalents [Member]
Schedule of Available-For-Sale Securities [Line Items]
Adjusted Cost	7,894	3,177
Unrealized Gains	0	0
Unrealized Losses	0	0
Total, Fair Value	7,894	3,177
Cash and Cash Equivalents	7,894	3,177
Restricted Investment	0	0
Short-Term Marketable Securities	0	0
Long-Term Marketable Securities	0	0
Money market funds [Member]
Schedule of Available-For-Sale Securities [Line Items]
Adjusted Cost	121,095	163,368
Unrealized Gains	0	0
Unrealized Losses	0	0
Total, Fair Value	121,095	163,368
Cash and Cash Equivalents	121,095	163,368
Restricted Investment	0	0
Short-Term Marketable Securities	0	0
Long-Term Marketable Securities	0	0
Certificates Of Deposit [Member]
Schedule of Available-For-Sale Securities [Line Items]
Adjusted Cost	26,128
Unrealized Gains	0
Unrealized Losses	0
Total, Fair Value	26,128
Cash and Cash Equivalents	2,223
Restricted Investment	20,000
Short-Term Marketable Securities	3,905
Long-Term Marketable Securities	0
Corporate debt securities [Member]
Schedule of Available-For-Sale Securities [Line Items]
Adjusted Cost	13,562	44,863
Unrealized Gains	10	57
Unrealized Losses	0	(43)
Total, Fair Value	13,572	44,877
Cash and Cash Equivalents	0	0
Restricted Investment	0	0
Short-Term Marketable Securities	13,572	27,776
Long-Term Marketable Securities	0	17,101
Commercial Paper [Member]
Schedule of Available-For-Sale Securities [Line Items]
Adjusted Cost		8,997
Unrealized Gains		0
Unrealized Losses		(1)
Total, Fair Value		8,996
Cash and Cash Equivalents		1,999
Restricted Investment		0
Short-Term Marketable Securities		6,997
Long-Term Marketable Securities		0
US Government Agencies Debt Securities [Member]
Schedule of Available-For-Sale Securities [Line Items]
Adjusted Cost	0	2,003
Unrealized Gains	0	12
Unrealized Losses	0	0
Total, Fair Value	0	2,015
Cash and Cash Equivalents	0	0
Restricted Investment	0	0
Short-Term Marketable Securities	0	2,015
Long-Term Marketable Securities	0	0
US Treasury Securities [Member]
Schedule of Available-For-Sale Securities [Line Items]
Adjusted Cost	0	5,494
Unrealized Gains	0	19
Unrealized Losses	0	0
Total, Fair Value	0	5,513
Cash and Cash Equivalents	0	0
Restricted Investment	0	0
Short-Term Marketable Securities	0	5,513
Long-Term Marketable Securities	$ 0	$ 0

Cash Equivalents and Investments (Summary of Available-For-Sale Securities by Contractual Maturity) (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Cash Equivalents and Investments [Abstract]
Less than one year, Amortized Cost	$ 168,679	$ 210,807
Less than one year, Fair Value	168,689	210,845
Greater than one year but less than five years, Amortized Cost	0	17,095
Greater than one year but less than five years, Fair Value	0	17,101
Total, Amortized Cost	168,679	227,902
Total, Fair Value	$ 168,689	$ 227,946

- Definition

Amount of debt securities categorized neither as held-to-maturity nor trading.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 25
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=7534914&loc=d3e22054-111558

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26610-111562

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-Section 50
-Paragraph 2
-Subparagraph (b)-(g)
-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 12
-Subparagraph 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 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 13
-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 FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 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.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 15C
-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 115
-Paragraph 16
-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 133
-Paragraph 22
-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 FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 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.

+ Details

Foreign Currency Hedging (Narrative) (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2012 USD ($)
Foreign Currency Hedging [Abstract]
Loss recognized in other comprehensive income (loss) net of tax effects	$ 8
Gain recognized in other comprehensive income (loss) net of tax effects	391
Gain (Loss) on Cash Flow Hedge Ineffectiveness, Net	161
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	$ 2,100

Foreign Currency Hedging (Schedule of Foreign Currency Exchange Contracts Designated as Cash Flow Hedges) (Detail) $ in Thousands	Dec. 31, 2012 USD ($) $ / shares $ / €	Dec. 31, 2011 USD ($) $ / €
Euro Forward Contracts [Member]
Derivative [Line Items]
Notional Amount	$ 210,667	$ 143,091
Fair Value	$ (7,581)	$ (7,946)
Euro Forward Contracts [Member] \| Eurodollar Sell Forward Contract 1.400 [Member]
Derivative [Line Items]
Settlement Price ($ per Eurodollar) \| $ / €	1.400	1.400
Notional Amount	$ 0	$ 25,150
Fair Value	$ 0	$ 1,837
Euro Forward Contracts [Member] \| Eurodollar Sell Forward Contract 1.200 [Member]
Derivative [Line Items]
Settlement Price ($ per Eurodollar) \| $ / €	1.200	1.200
Notional Amount	$ 0	$ 117,941
Fair Value	$ 0	$ (9,783)
Euro Forward Contracts [Member] \| Eurodollar Sell Forward Contract 1.230 [Member]
Derivative [Line Items]
Settlement Price ($ per Eurodollar) \| $ / €	1.230	1.230
Notional Amount	$ 27,553	$ 0
Fair Value	$ (2,036)	$ 0
Euro Forward Contracts [Member] \| Eurodollar Sell Forward Contract 1.240 [Member]
Derivative [Line Items]
Settlement Price ($ per Eurodollar) \| $ / €	1.240	1.240
Notional Amount	$ 10,850	$ 0
Fair Value	$ (726)	$ 0
Euro Forward Contracts [Member] \| Eurodollar Sell Forward Contract 1.270 [Member]
Derivative [Line Items]
Settlement Price ($ per Eurodollar) \| $ / €	1.270	1.270
Notional Amount	$ 44,450	$ 0
Fair Value	$ (1,950)	$ 0
Euro Forward Contracts [Member] \| Eurodollar Sell Forward Contract 1.281 [Member]
Derivative [Line Items]
Settlement Price ($ per Eurodollar) \| $ / €	1.281	1.281
Notional Amount	$ 36,814	$ 0
Fair Value	$ (1,331)	$ 0
Euro Forward Contracts [Member] \| Eurodollar Sell Forward Contract 1.300 [Member]
Derivative [Line Items]
Settlement Price ($ per Eurodollar) \| $ / €	1.300	1.300
Notional Amount	$ 91,000	$ 0
Fair Value	(1,538)	0
Euro Option Contracts [Member]
Derivative [Line Items]
Notional Amount	0	156,370
Fair Value	$ 0	$ 5,001
Euro Option Contracts [Member] \| Eurodollar Purchased Call Option 1.510 [Member]
Derivative [Line Items]
Settlement Price ($ per Eurodollar)	1.510	1.510
Notional Amount	$ 0	$ 27,126
Fair Value	$ 0	$ 0
Euro Option Contracts [Member] \| Eurodollar Purchased Call Option 1.315 [Member]
Derivative [Line Items]
Settlement Price ($ per Eurodollar)	1.315	1.315
Notional Amount	$ 0	$ 129,244
Fair Value	$ 0	$ 5,001

Foreign Currency Hedging (Fair Value of Foreign Currency Exchange Contracts on Condensed Consolidated Balance Sheet) (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Foreign Currency Hedging [Abstract]
Euro contracts, Prepaid and other current assets	$ 0	$ 1,837
Euro contracts, Accrued liabilities	3,574	4,134
Euro contracts, Other long-term liabilities	$ 4,007	$ 648

- Definition

Fair values as of the balance sheet date for all assets resulting from contracts that meet the criteria of being accounted for as derivative instruments and which are expected to be converted into cash or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 15
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6509628

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-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 FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 10
-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 AICPA
-Name Accounting Research Bulletin (ARB)
-Number 43
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-Paragraph 4
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-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 133
-Paragraph 4, 17
-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

- Definition

Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Current Liabilities
-URI http://asc.fasb.org/extlink&oid=6509677

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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-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

- Definition

Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of after one year or beyond the normal operating cycle, if longer, net of the effects of master netting arrangements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-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

Foreign Currency Hedging (Schedule of Effect of Derivative Instruments in Consolidated Statements of Income and Consolidated Statements of Comprehensive Income) (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Foreign Currency Hedging [Abstract]

Net gain (loss) recognized in OCI, net of tax

$ (5,040)

^[1]

$ (4,470)

^[2]

$ 5,134

^[3]

Gain (loss) reclassified from accumulated OCI into royalty revenue, net of tax

(1,859)

^[4]

664

^[5]

1,914

^[6]

Amount excluded from effectiveness testing

Cash Flow Hedges [Member]

Derivative [Line Items]

Gain (loss) recognized in interest and other income, net

(169)

^[7]

(19)

^[8]

^[9]

Non-designated Contracts [Member]

Derivative [Line Items]

Gain (loss) recognized in interest and other income, net

$ 391

^[10]

$ 0

^[11]

$ 0

^[12]

[1]	Net change in the fair value of the effective portion of cash flow hedges classified in other comprehensive income (loss)(OCI)
[2]	Net change in the fair value of the effective portion of cash flow hedges classified in other comprehensive income (loss)(OCI)
[3]	Net change in the fair value of the effective portion of cash flow hedges classified in other comprehensive income (loss)(OCI)
[4]	Effective portion classified as royalty revenue
[5]	Effective portion classified as royalty revenue
[6]	Effective portion classified as royalty revenue
[7]	Ineffectiveness from excess hedge was approximately $8,000 and net loss from restructuring hedges was approximately $161,000, net classified as interest and other income, net
[8]	Ineffectiveness from excess hedge was approximately $8,000 and net loss from restructuring hedges was approximately $161,000, net classified as interest and other income, net
[9]	Ineffectiveness from excess hedge was approximately $8,000 and net loss from restructuring hedges was approximately $161,000, net classified as interest and other income, net
[10]	Gain on de-designation classified as interest and other income, net
[11]	Gain on de-designation classified as interest and other income, net
[12]	Gain on de-designation classified as interest and other income, net

- Definition

The amount of net gains and losses recognized in income during the period on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges, on derivative instruments designated and qualifying as hedging instruments in cash flow hedges, and on derivative instruments not designated as hedging instruments.

+ References + Details

Notes and Other Long-term Receivables (Narrative) (Detail) $ in Thousands	1 Months Ended					12 Months Ended
	Feb. 28, 2013 USD ($)	Jan. 31, 2013 USD ($)	Oct. 31, 2012 USD ($)	Jul. 31, 2012 USD ($)	Mar. 31, 2012 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Nov. 02, 2012 USD ($)	Aug. 31, 2012 USD ($)
Accounts Notes And Loans Receivable [Line Items]
Repayment of notes receivable						$ 5,000	$ 0	$ 0
Notes receivable, net						7,504	$ 0
Wellstate Credit Agreement [Member]
Accounts Notes And Loans Receivable [Line Items]
Financing receivable, gross									$ 40,000
Proceeds received under remedies available for borrower's breach of terms credit agreement		$ 8,100
Credit agreement, stated interest rate (in Percent)					10.00%				5.00%	12.00%
Amount company has agreed to advance under credit agreement						7,900
Merus Labs [Member]
Accounts Notes And Loans Receivable [Line Items]
Increase (decrease) in finance receivables				$ 20,000
Business Acquisition, Cost of Acquired Entity, Liabilities Incurred				35,000
Letter of credit extended				$ 20,000
AxoGen [Member]
Accounts Notes And Loans Receivable [Line Items]
Term of Royalty Agreement (in Duration)			8 years
First year of contract, AxoGen has the right to call (in Year)			5
Last year of contract, AxoGen has the right to call (in Year)			8
Total consideration paid to AxoGen for the royalty rights			$ 20,800
Initial interim funding for royalty rights			$ 1,800
Hyperion Purchase and Sale Agreement Receivable [Member]
Accounts Notes And Loans Receivable [Line Items]
Repayment of notes receivable	$ 1,200
Notes receivable, net	$ 1,200				$ 2,300
Initial Loan [Member] \| Merus Labs [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest rate of note receivable (in Percent)				13.50%
Additional Loan [Member] \| Merus Labs [Member]
Accounts Notes And Loans Receivable [Line Items]
Interest rate of note receivable (in Percent)				14.00%
Senior Secured Note Receivable [Member] \| Wellstat Note Receivable [Member]
Accounts Notes And Loans Receivable [Line Items]
Financing receivable, gross					$ 7,500					$ 10,000
Term of receivable (in Duration)					2 years
Note receivable, impairment evaluated						$ 0

Prepaid and Other Current Assets (Prepaid and Other Current Assets) (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Prepaid and Other Current Assets [Abstract]
Non-recourse Notes issuance costs	$ 0	$ 1,226
Foreign currency exchange	0	1,837
Prepaid income taxes	3,351	8,297
Other	1,462	654
Total	$ 4,813	$ 12,014

Property and Equipment (Property and Equipment) (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Property, Plant and Equipment [Line Items]
Leasehold improvements	$ 127	$ 112
Computer and office equipment	8,993	8,989
Furniture and fixtures	38	38
Property and equipment, gross	9,158	9,139
Less accumulated depreciation and amortization	(9,131)	(9,117)
Construction in progress	32	0
Property and equipment, net	$ 59	$ 22

- Definition

The cumulative amount of depreciation, depletion and amortization (related to property, plant and equipment, but not including land) that has been recognized in the income statement.

+ References + Details

Accrued Liabilities (Accrued Liabilities) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Accrued Liabilities [Abstract]
Compensation	$ 594	$ 1,341
Interest	2,925	3,351
Deferred revenue	0	1,713
Foreign currency hedge	3,574	4,134
Dividend payable	53	52
Legal	2,020	673
Other	234	345
Total	$ 9,400	$ 11,609

- Definition

Carrying value as of the balance sheet date of [accrued] interest payable on all forms of debt, including trade payables, that has been incurred and is unpaid. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References + Details

- 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

Commitments and Contingencies (Narrative) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Commitments and Contingencies [Abstract]
Rent expense under operating leases	$ 200	$ 200	$ 100

Commitments and Contingencies (Future Minimum Operating Lease Payments) (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Commitments and Contingencies [Abstract]
2013	$ 285
2014	84
Total	$ 369

Convertible Notes and Non-recourse Notes (Narrative) (Detail)			1 Months Ended					3 Months Ended	12 Months Ended
	May 16, 2011 USD ($) $ / shares	Nov. 01, 2010 USD ($) $ / shares	Dec. 31, 2012 USD ($) $ / shares shares	Sep. 30, 2012 $ / shares	Feb. 29, 2012 USD ($)	Jan. 31, 2012 USD ($)	Nov. 30, 2009 USD ($)	Mar. 31, 2012 USD ($)	Dec. 31, 2012 USD ($) $ / shares $ / item shares	Dec. 31, 2011 USD ($) $ / shares	Dec. 31, 2010 USD ($)
Debt Instrument [Line Items]
Proceeds from Convertible Debt									$ 0	$ 149,712,000	$ 82,039,000
Debt Instrument, Unamortized Discount			$ (16,833,000)						(16,833,000)
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt									10,692,000	11,870,000
Proceeds from Issuance of Warrants									0	10,868,000	0
Gains (Losses) on Extinguishment of Debt									0	(766,000)	(17,648,000)
Repayments of Convertible Debt									0	133,851,000	108,247,000
Notes Payable			309,952,000						309,952,000	409,985,000	514,698,000
Series 2012 Notes [Member]
Debt Instrument [Line Items]
Debt instrument, amount converted					$ 10,000,000	$ 169,000,000
Incentive fee per each $1,000 principal amount tendered to convert debt						5.00
Principal amount a $5 incentive cash payment per each to convert debt						1,000
Deferred costs						765,000
Debt instrument, face amount			$ 179,000,000						$ 179,000,000	$ 0
Induced Conversion of Convertible Debt Expense						845,000
Debt Instrument, Convertible, Conversion Ratio									169.525
Debt Instrument, Convertible, Conversion Price (in Dollars per Share) \| $ / shares			$ 5.90						$ 5.90	$ 5.90
Convertible notes repurchase price as a percentage of principal (in Percent)									98.00%
Debt issuance costs incurred during transaction								$ 216,000	$ 813,000	$ 597,000
Debt instrument, interest rate (in Percent)			2.875%						2.875%
Debt instrument, convertible, effective interest rate (in Percent)									7.30%
Debt Instrument, Unamortized Discount			$ 13,472,000						$ 13,472,000	0
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt						52,000			10,900,000
Noted obligation allocated to deferred tax liability						$ 28,000			$ 5,900,000
Debt Instrument, Convertible, Terms of Conversion Feature									If the closing price of common stock for at least 20 trading days in a period of 30 consecutive trading days exceeds 130% of conversion price.
Debt instrument, convertible, remaining amortization period (in Duration)									2 years 1 month 6 days
Debt instrument, convertible, conversion threshold (in Dollars per Share) \| $ / shares			$ 7.67	$ 7.82
Debt instrument, convertible, if-converted value									$ 34,600,000
Debt Instrument, Convertible, Interest Expense									11,911,000	0	0
Notes Payable			$ 165,528,000						$ 165,528,000	0	0
2012 Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate (in Percent)			2.00%						2.00%
Debt Instrument, Unamortized Discount			$ 0						$ 0
Notes Payable			$ 0						$ 0	0	133,464,000
2023 Notes [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate (in Percent)			2.75%						2.75%
February 2015 Notes [Member]
Debt Instrument [Line Items]
Debt instrument, amount converted		$ 92,000,000
Incentive fee per each $1,000 principal amount tendered to convert debt		5
Principal amount a $5 incentive cash payment per each to convert debt		$ 1,000
Deferred costs										3,200,000
Debt Instrument, Convertible, Conversion Ratio		169.525
Debt Instrument, Convertible, Conversion Price (in Dollars per Share) \| $ / shares		$ 5.90
Convertible notes repurchase price as a percentage of principal (in Percent)		100.00%
Debt instrument, interest rate (in Percent)			3.75%						3.75%
Debt Instrument, Unamortized Discount			$ 0						$ 0	0
Debt instrument, convertible, remaining amortization period (in Duration)									3 years 2 months 12 days
Gains (Losses) on Extinguishment of Debt		$ 1,100,000
Debt Instrument, Increase, Additional Borrowings		$ 88,000,000
Unamortized Debt Issuance Expense										4,134,000
Notes Payable			991,000						$ 991,000	177,663,000	176,964,000
Debt instrument, aggregate principal outstanding			1,000,000		$ 1,000,000				1,000,000	180,000,000
May 2015 Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			$ 155,250,000						$ 155,250,000	155,250,000
Proceeds from Convertible Debt	$ 149,700,000
Debt Instrument, Convertible, Conversion Ratio	148.3827
Debt Instrument, Convertible, Conversion Price (in Dollars per Share) \| $ / shares	$ 6.74
Convertible notes repurchase price as a percentage of principal (in Percent)	100.00%
Debt instrument, interest rate (in Percent)	3.75%		2.875%						2.875%
Debt instrument, convertible, effective interest rate (in Percent)									37.50%
Debt Instrument, Unamortized Discount			$ 11,817,000						$ 11,817,000	16,298,000
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt									12,300,000
Noted obligation allocated to deferred tax liability									$ 6,600,000
Option Indexed to Issuer's Equity, Shares (in Shares) \| shares									27,500,000
Option Indexed to Issuer's Equity, Strike Price \| $ / item									7.93
Debt Instrument, Convertible, Terms of Conversion Feature	If the closing price of common stock for at least 20 trading days in a period of 30 consecutive trading days exceeds 130% of conversion price.
Debt instrument, convertible, remaining amortization period (in Duration)									2 years 3 months 18 days
Debt instrument, convertible, conversion threshold (in Dollars per Share) \| $ / shares			$ 8.76	$ 8.94
Debt instrument, convertible, if-converted value									$ 6,900,000
Proceeds from Issuance of Warrants									10,000,000
Unamortized Debt Issuance Expense										3,208,000
Debt Instrument, Convertible, Interest Expense									11,496,000	7,005,000	0
Notes Payable			$ 143,433,000						143,433,000	138,952,000	0
Purchased Call Options and Warrants [Member]
Debt Instrument [Line Items]
Noted obligation allocated to deferred tax liability									$ 7,200,000
Number of hedge counterparties			2						2
Option Indexed to Issuer's Equity, Shares (in Shares) \| shares									21,100,000
Option Indexed to Issuer's Equity, Strike Price \| $ / item									6.74
Purchased call options cost									$ 20,800,000
Debt instrument, convertible, conversion threshold (in Dollars per Share) \| $ / shares									$ 7.93
Deferred taxes on purchased call options cost									$ 7,200,000
Number of shares of common stock covered by the purchased call options purchased (in Shares) \| shares			1,900,000						1,900,000
Proceeds from Issuance of Warrants									$ 10,900,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) \| shares			0						0
Non-recourse Notes [Member]
Debt Instrument [Line Items]
Debt instrument, amount converted							$ 300,000,000
Debt instrument, interest rate (in Percent)							10.25%
Debt Instrument, Unamortized Discount			$ 0						$ 0
Notes Payable			$ 0						$ 0	$ 93,370,000	$ 204,270,000
Securitization of Royalties							60.00%

Convertible Notes and Non-recourse Notes (Convertible and Non-Recourse Notes) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Debt Instrument [Line Items]
Balance at beginning of period	$ 409,985	$ 514,698
Issuance and exchange	0	136,313
Payment	(93,370)	(110,900)	$ (95,730)
Repurchase	0	133,464
Non-cash discount	(16,833)
Discount amortization	(10,170)	(3,338)
Balance at ending of period	309,952	409,985	514,698
2012 Notes [Member]
Debt Instrument [Line Items]
Balance at beginning of period	0	133,464
Issuance and exchange	0	0
Payment	0	0
Repurchase	0	(133,464)
Non-cash discount	0
Discount amortization	0	0
Balance at ending of period	0	0	133,464
Series 2012 Notes [Member]
Debt Instrument [Line Items]
Balance at beginning of period	0	0
Issuance and exchange	176,679	0
Payment	0	0
Repurchase	0	0
Non-cash discount	(16,833)
Discount amortization	5,682	0	0
Balance at ending of period	165,528	0	0
May 2015 Notes [Member]
Debt Instrument [Line Items]
Balance at beginning of period	138,952	0
Issuance and exchange	0	136,313
Payment	0	0
Repurchase	0	0
Non-cash discount	0
Discount amortization	(4,481)	(2,639)	0
Balance at ending of period	143,433	138,952	0
February 2015 Notes [Member]
Debt Instrument [Line Items]
Balance at beginning of period	177,663	176,964
Issuance and exchange	0	0
Payment	(176,679)	0
Repurchase	0	0
Non-cash discount	0
Discount amortization	7	(699)
Balance at ending of period	991	177,663	176,964
Non-recourse Notes [Member]
Debt Instrument [Line Items]
Balance at beginning of period	93,370	204,270
Issuance and exchange	0	0
Payment	(93,370)	(110,900)
Repurchase	0	0
Non-cash discount	0
Discount amortization	0	0
Balance at ending of period	$ 0	$ 93,370	$ 204,270

Convertible and Non-Recourse Notes (Series 2012 Notes) (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Debt Instrument [Line Items]
Unamortized discount of liability component	$ 16,833
Net carrying value of the Notes	309,952	$ 409,985	$ 514,698
Series 2012 Notes [Member]
Debt Instrument [Line Items]
Principal amount of the Notes	179,000	0
Unamortized discount of liability component	(13,472)	0
Net carrying value of the Notes	$ 165,528	$ 0	$ 0

Convertible and Non-Recourse Notes (Interest Expense for the Series 2012 Notes) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Debt Instrument [Line Items]
Amortization of debt issuance costs	$ 12,481	$ 5,386	$ 1,682
Amortization of debt discount	10,170	3,338
Series 2012 Notes [Member]
Debt Instrument [Line Items]
Contractual coupon interest	5,122	0	0
Amortization of debt issuance costs	1,107	0	0
Amortization of debt discount	(5,682)	0	0
Total	$ 11,911	$ 0	$ 0

Convertible and Non-Recourse Notes (May 2015 Notes) (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Debt Instrument [Line Items]
Unamortized discount of liability component	$ 16,833
Net carrying value of the Notes	309,952	$ 409,985	$ 514,698
May 2015 Notes [Member]
Debt Instrument [Line Items]
Principal amount of the Notes	155,250	155,250
Unamortized discount of liability component	(11,817)	(16,298)
Net carrying value of the Notes	$ 143,433	$ 138,952	$ 0

Convertible and Non-Recourse Notes (Interest Expense for the May 2015 Notes) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Debt Instrument [Line Items]
Amortization of debt issuance costs	$ 12,481	$ 5,386	$ 1,682
Amortization of debt discount	10,170	3,338
May 2015 Notes [Member]
Debt Instrument [Line Items]
Contractual coupon interest	5,822	3,639	0
Amortization of debt issuance costs	1,193	727	0
Amortization of debt discount	4,481	2,639	0
Total	$ 11,496	$ 7,005	$ 0

Convertible and Non-Recourse Notes (Future Minimum Principal Payments) (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Debt Instrument [Line Items]
2013	$ 0
2014	0
2015	335,250
Total	335,250
Series 2012 Notes [Member]
Debt Instrument [Line Items]
2013	0
2014	0
2015	179,000
Total	179,000
May 2015 Notes [Member]
Debt Instrument [Line Items]
2013	0
2014	0
2015	155,250
Total	155,250
February 2015 Notes [Member]
Debt Instrument [Line Items]
2013	0
2014	0
2015	1,000
Total	$ 1,000

Other Long-Term Liabilities (Narrative) (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Other Long-Term Liabilities [Abstract]
Total lease payments for the duration of the guarantee	$ 100,300
Estimated fair value of the guarantee for lease liability	$ 10,700	$ 10,700

Other Long-Term Liabilities (Other Long-Term Liabilities) (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Other Long-Term Liabilities [Abstract]
Accrued lease liability	$ 10,700	$ 10,700
Uncertain tax position	12,955	12,774
Foreign currency hedge	3,574	4,134
Total	$ 27,662	$ 24,122

Stock-Based Compensation (Narrative) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Share Based Compensation Arrangment By Share Based Payment Award [Line Items]
Unvested restricted stock awards outstanding (in Shares)	120	137	40	148
Stock options outstanding and exercisable, aggregate instrinsic value	$ 94
Stock options exercisable and outstanding, weighted-average remaining contractual term (in Duration)	1 year 7 months 24 days
Closing price of company's common stock (in Dollars per Share)	$ 7.04
Exercise price range, lower limit (in Dollars per Share)	5.41
Exercise price range, upper limit (in Dollars per Share)	$ 22.60
Stock-based compensation expense, associated with restricted stock	$ 900	$ 400	$ 600
Non-vested restricted stock, unrecognized compensation costs	$ 500
Unrecognized compensation costs, period of recognition (in Duration)	10 months
Aggregate intrinsic value, non-vested restricted stock	$ 800
Maximum [Member]
Share Based Compensation Arrangment By Share Based Payment Award [Line Items]
Restricted stock, vesting period (in Duration)	24 months
Minimum [Member]
Share Based Compensation Arrangment By Share Based Payment Award [Line Items]
Restricted stock, vesting period (in Duration)	12 months

Stock-Based Compensation (Stock-Based Compensation Expense for Employees and Directors and Non-Employees) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Deferred Compensation Arrangement With Individual Share Based Payments [Line Items]
Stock-based compensation expense	$ 937	$ 387	$ 662
Employees and directors [Member]
Deferred Compensation Arrangement With Individual Share Based Payments [Line Items]
Stock-based compensation expense	650	337	662
Non-employees [Member]
Deferred Compensation Arrangement With Individual Share Based Payments [Line Items]
Stock-based compensation expense	$ 287	$ 50	$ 0

Stock-Based Compensation (Shares of Company Common Stock Available Under Share-Based Plans) (Detail) - shares

12 Months Ended

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2009

Share Based Compensation Arrangment By Share Based Payment Award [Line Items]

Total Shares of Common Stock Subject to Outstanding Awards

196,000

231,000

274,000

1,564,000

2005 Equity Incentive Plan [Member]

Share Based Compensation Arrangment By Share Based Payment Award [Line Items]

Total Shares of Common Stock Authorized

^[1]

5,200,000

Total Shares of Common Stock Issued

^[2]

610,579

Total Shares of Common Stock Subject to Outstanding Awards

^[3]

Total Shares of Common Stock Available for Grant

^[4]

4,589,421

2002 Outside Directors Stock Option Plan [Member]

Share Based Compensation Arrangment By Share Based Payment Award [Line Items]

Total Shares of Common Stock Authorized

^[5]

157,000

Total Shares of Common Stock Issued

^[6]

140,750

Total Shares of Common Stock Subject to Outstanding Awards

^[7]

16,250

Total Shares of Common Stock Available for Grant

^[8]

1999 Non-statutory Stock Option Plan [Member]

Share Based Compensation Arrangment By Share Based Payment Award [Line Items]

Total Shares of Common Stock Authorized

^[9]

5,072,683

Total Shares of Common Stock Issued

^[10]

4,966,183

Total Shares of Common Stock Subject to Outstanding Awards

^[11]

106,500

Total Shares of Common Stock Available for Grant

^[12]

1999 Stock Option Plan [Member]

Share Based Compensation Arrangment By Share Based Payment Award [Line Items]

Total Shares of Common Stock Authorized

^[13]

3,726,719

Total Shares of Common Stock Issued

^[14]

3,653,150

Total Shares of Common Stock Subject to Outstanding Awards

^[15]

73,569

Total Shares of Common Stock Available for Grant

^[16]

[1]	As of December 31, 2012, there were 120,436 shares of unvested restricted stock awards outstanding
[2]	As of December 31, 2012, there were 120,436 shares of unvested restricted stock awards outstanding
[3]	As of December 31, 2012, there were 120,436 shares of unvested restricted stock awards outstanding
[4]	As of December 31, 2012, there were 120,436 shares of unvested restricted stock awards outstanding
[5]	Plan terminated in 2009, subject to options outstanding under the plan
[6]	Plan terminated in 2009, subject to options outstanding under the plan
[7]	Plan terminated in 2009, subject to options outstanding under the plan
[8]	Plan terminated in 2009, subject to options outstanding under the plan
[9]	Plan terminated in 2009, subject to options outstanding under the plan
[10]	Plan terminated in 2009, subject to options outstanding under the plan
[11]	Plan terminated in 2009, subject to options outstanding under the plan
[12]	Plan terminated in 2009, subject to options outstanding under the plan
[13]	Plan terminated in 2009, subject to options outstanding under the plan
[14]	Plan terminated in 2009, subject to options outstanding under the plan
[15]	Plan terminated in 2009, subject to options outstanding under the plan
[16]	Plan terminated in 2009, subject to options outstanding under the plan

Stock-Based Compensation (Stock Option Activity) (Detail) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Share Based Compensation Arrangement by Share Based Payment Award Options Outstanding [Roll Forward]
Outstanding at beginning of year	231	274	1,564
Expired	(35)	(43)	(1,290)
Outstanding at end of year	196	231	274
Exercisable at end of year	196	231	274
Share Based Compensation Arrangement by Share Based Payment Award Options Outstanding Weighted Average Exercise Price[Roll Forward]
Outstanding at beginning of year (in Dollars per share)	$ 16.62	$ 17.25	$ 19.82
Expired (in Dollars per share)	18.83	20.67	20.36
Outstanding at end of year (in Dollars per share)	16.22	16.62	17.25
Exercisable at end of year (in Dollars per share)	$ 16.22	$ 16.62	$ 17.25

Stock-Based Compensation (Restricted Stock Activity) (Detail) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Share Based Compensation Arrangment By Share Based Payment Award Equity Instruments Other Than Options Nonvested [Roll Forward]
Nonvested at beginning of year	137	40	148
Awards granted	139	155	40
Awards vested	(137)	(40)	(148)
Forfeited	(19)	(18)	0
Nonvested at end of year	120	137	40
Share Based Compensation Arrangment By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value [Roll Forward]
Nonvested at beginning of year (in Dollars per share)	$ 6.09	$ 5.05	$ 6.54
Awards granted (in Dollars per share)	6.49	6.15	5.05
Awards vested (in Dollars per share)	6.09	5.05	6.54
Forfeited (in Dollars per share)	6.35	6.59	0.00
Nonvested at end of year (in Dollars per share)	$ 6.51	$ 6.09	$ 5.05

Cash Dividends (Narrative) (Detail) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Oct. 01, 2010	Apr. 01, 2010	Dec. 31, 2012	Dec. 31, 2011	Jan. 23, 2013	Jan. 18, 2012	Feb. 25, 2011	Jan. 31, 2010
Cash Dividends [Abstract]
Dividends Payable Quarterly, Amount Per Share (in Dollars per share)					$ 0.15	$ 0.15	$ 0.15	$ 0.50
Dividends Payable Dates To be Paid Day Month And Year					March 12, June 12, September 12, December 12 of 2013	March 14, June 14, September 14, December 14 of 2012	March 15, June 15, September 15, December 15 of 2011
Dividends Payable Dates of Record, Day, Month and Year					March 5, June 5, September 5, December 5 of 2013	March 7, June 7, September 7, December 7 of 2012	March 8, June 8, September 8, December 8 of 2011
Dividends, Cash (in Dollars)	$ 69,800	$ 59,900	$ 83,900	$ 83,800

Customer Concentration (Narrative) (Detail)	Dec. 31, 2012
Customer Concentration [Abstract]
Minimum threshold percent of total royalty income requiring disclosure by licensee by product name (in Percent)	10.00%

Customer Concentration (Percentage of Total Revenue From Licenses Over 10% of Revenue) (Detail)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Genentech [Member]
Entity Wide Revenue Major Customer [Line Items]
Minimum threshold percent of total royalty income requiring disclosure by license by product name (in Percent)	85.00%	86.00%	86.00%
Elan [Member]
Entity Wide Revenue Major Customer [Line Items]
Minimum threshold percent of total royalty income requiring disclosure by license by product name (in Percent)	13.00%	12.00%	10.00%

Customer Concentration (Total Revenues by Geographic Area) (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenues From External Customers [Line Items]
United States									$ 133,824	$ 137,269	$ 130,070
Total revenues	$ 86,046	$ 85,231	$ 125,904	$ 77,344	$ 72,808	$ 83,770	$ 122,127	$ 83,336	374,525	362,041	344,975
Europe [Member]
Revenues From External Customers [Line Items]
Foreign revenues									240,626	224,472	213,677
Other Geographic Areas [Member]
Revenues From External Customers [Line Items]
Foreign revenues									$ 75	$ 300	$ 1,228

Income Taxes (Narrative) (Detail) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Narrative) (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2023	Dec. 31, 2011	Dec. 31, 2010
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits	$ 32,647		$ 23,061	$ 23,061
Unrecognized tax benefits with effective tax rate impact	12,200
Unrecognized tax benefits resulting in adjustment to deferred tax assets	20,400
Unrecognized tax benefits, income tax penalties and interest accrued	200		500	$ (26)
Increase in unrecognized tax benefits following uncertain tax positions evaluation	24,000
Federal [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 41,100		42,900
Operating loss carryforwards, expiration dates	2023
Operating loss carryforwards estimated to expire	$ 22,000
Operating loss carryforwards, valuation allowance	1,800	$ 1,300
California [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 215,500		215,500
Operating loss carryforwards, expiration dates	2019
State [Member]
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	$ 20,000		$ 20,000
Operating loss carryforwards, expiration dates	2028
Operating loss carryforwards estimated to expire	$ 18,700

Income Taxes (Provision for Income Taxes) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Current income tax expense
Federal	$ 104,152	$ 83,569	$ 91,325
State	1	1	11
Total current	104,153	83,570	91,336
Deferred income tax expense (benefit)	11,311	24,469	(32,840)
Total provision	$ 115,464	$ 108,039	$ 58,496

- Definition

The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted federal tax law to the domestic taxable Income or Loss from continuing operations.

+ References

+ Details

- Definition

The component of income tax expense for the period representing amounts of income taxes paid or payable (or refundable) for the period for all income tax obligations as determined by applying the provisions of relevant enacted tax laws to relevant amounts of taxable Income or Loss from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 2: 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 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Current Tax Expense (or Benefit)
-URI http://asc.fasb.org/extlink&oid=6509736

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.7)
-URI http://asc.fasb.org/extlink&oid=6889476&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45
-Subparagraph a
-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 SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section I
-Subsection 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 289
-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

- Definition

The component of income tax expense for the period representing amounts paid or payable (or refundable) as determined by applying the provisions of enacted state and local tax law to relevant amounts of taxable Income or Loss from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.7)
-URI http://asc.fasb.org/extlink&oid=6889476&loc=d3e330036-122817

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Current Tax Expense (or Benefit)
-URI http://asc.fasb.org/extlink&oid=6509736

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 4: 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 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45
-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 SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 6
-Section I
-Subsection 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 289
-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

- Definition

The component of total income tax expense for the period comprised of the increase (decrease) during the period in the entity's domestic deferred tax assets and liabilities attributable to continuing operations as determined by applying the provisions of the federally enacted tax law.

+ References

+ Details

Income Taxes (Reconciliation of the Income Tax Provision Computed Using the U.S. Statutory Federal Income Tax Rate) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Taxes [Abstract]
Tax at U.S. statutory rate on income before income taxes	$ 114,496	$ 107,600	$ 52,360
Change in valuation allowance	0	0	296
State taxes	1	1	11
Non-deductible loss on retirement or conversion of convertible notes	0	0	4,960
Other	967	438	599
Total	$ 115,464	$ 108,039	$ 58,496

- Definition

The sum of the current income tax expense or benefit and the deferred income tax expense or benefit pertaining to pretax Income or Loss from continuing operations; income tax expense or benefit may include interest and penalties on tax uncertainties based on the entity's accounting policy.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-Subparagraph (a),(b)
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 45
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=21917399&loc=d3e32247-109318

Reference 3: 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 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32672-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 45, 46
-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 SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 48
-Paragraph 15, 16, 19
-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

Income Taxes (Significant Components of Deferred Tax Assets and Liabilities) (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Deferred tax assets:
Net operating loss carryforwards	$ 6,686	$ 7,308
Research and other tax credits	15,205	5,743
Intangible assets	5,487	7,403
Stock-based compensation	222	273
Reserves and accruals	229	10,087
Deferred revenue	0	600
Unrealized loss on foreign currency hedge contracts	2,740	1,031
Other	227	974
Total deferred tax assets	30,796	33,419
Valuation allowance	(20,392)	(10,930)
Total deferred tax assets, net of valuation allowances	10,404	22,489
Deferred tax liabilities:
Deferred gain on repurchase of convertible notes	(954)	(954)
Debt modifications	(3,285)	0
Total deferred tax liabilities	(4,239)	(954)
Net deferred tax assets	$ 6,165	$ 21,535

Income Taxes (Reconciliation of Unrecognized Tax Benefits) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Income Taxes [Abstract]
Balance at the beginning of the year	$ 23,061	$ 23,061
Increases related to tax positions from prior fiscal years	4,029	0
Increases related to tax positions taken during current fiscal year	5,557	0
Expiration of statute of limitations for the assessment of taxes	0	0
Balance at the end of the year	$ 32,647	$ 23,061

Accumulated Other Comprehensive Income (Loss) (Schedule of Balances of Accumulated Other Comprehensive Income (Loss)) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Accumulated Other Comprehensive Income (Loss) [Abstract]
Unrealized gain (loss) on available-for-sale securities, beginning balance	$ 29	$ (1)	$ 0
Unrealized gain (loss) on cash flow hedges, beginning balance	(1,914)	3,220	0
Total Accumulated Other Comprehensive Income (Loss), beginning balance	(1,885)	3,219	0
Unrealized gains (losses) on investments in available-for-sale securities	(22)	30	(1)
Unrealized gains (losses) on cash flow hedges	(3,181)	(5,134)	3,220
Total Accumulated Other Comprehensive Income (Loss)	(3,203)	(5,104)	3,219
Unrealized gain (loss) on available-for-sale securities, ending balance	7	29	(1)
Unrealized gain (loss) on cash flow hedges, ending balance	(5,095)	(1,914)	3,220
Total Accumulated Other Comprehensive Income (Loss), ending balance	$ (5,088)	$ (1,885)	$ 3,219

- Definition

Accumulated change, net of tax, in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Includes an entity's share of an equity investee's Increase or Decrease in deferred hedging gains or losses.

+ References + Details

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e637-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Section 45
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-URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669686-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph 31
-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 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 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 12
-Paragraph 10
-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 FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 14, 17, 26
-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 04
-Article 3

Net of tax amount of unrealized holding gain (loss) before reclassification adjustments and transfers on available-for-sale securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 10A
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=20435746&loc=SL7669646-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 45
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-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e637-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 13
-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 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 17, 22
-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 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 24
-Subparagraph 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 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(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.

+ Details

Legal Proceedings (Narrative) (Detail) - USD ($)				12 Months Ended
Legal Proceedings (Narrative) (Detail) - USD ($)	Feb. 09, 2012	Feb. 15, 2011	Feb. 02, 2011	Dec. 31, 2012
MedImmune [Member]
Payments for legal settlements	$ 27,500,000	$ 65,000,000		$ 92,500,000
UCB Pharma S.A. [Member]
Payments for legal settlements			$ 10,000,000
Genentech [Member]
Royalty rate (in Percent)				3.75%
Europe [Member]
Royalty revenue from sales of products made in Europe and sold outside US (in Percent)				38.00%

Subsequent Event (Narrative) (Detail) - Issuance of Debt [Member] $ in Thousands	2 Months Ended
	Feb. 28, 2013 USD ($)
Subsequent Event [Line Items]
Term of credit agreement forbearance agreed to (in Duration)	120 days
Notes provided under credit agreement	$ 7,900
Date of subsequent event (Date)	Feb. 28, 2013

Quarterly Financial Data (Unaudited) (Quarterly Financial Data (Unaudited)) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Quarterly Financial Data (Unaudited) [Abstract]
Revenues	$ 86,046	$ 85,231	$ 125,904	$ 77,344	$ 72,808	$ 83,770	$ 122,127	$ 83,336	$ 374,525	$ 362,041	$ 344,975
Net income	$ 49,408	$ 48,575	$ 73,502	$ 40,184	$ 38,942	$ 45,916	$ 69,986	$ 44,545	$ 211,669	$ 199,389	$ 91,874
Net income per basic share (in Dollars per Share)	$ 0.35	$ 0.35	$ 0.53	$ 0.29	$ 0.28	$ 0.33	$ 0.50	$ 0.32	$ 1.52	$ 1.43	$ 0.73
Net income per diluted share (in Dollars per Share)	$ 0.34	$ 0.32	$ 0.52	$ 0.29	$ 0.24	$ 0.28	$ 0.38	$ 0.25	$ 1.45	$ 1.15	$ 0.54

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.21)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=16381557&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 225
-Section S99
-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=6879574&loc=d3e536633-122882

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 18
-Article 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 36, 37, 38
-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 Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 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 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 20
-Article 5

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 21
-Article 9

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Label	Element	Value
Restricted Stock [Member]
Antidilutive securities excluded from computation of earnings per share (in Shares)	us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	1,000
Stock Options [Member]
Incremental common shares attributable to share based payment arrangements (in Shares)	us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	13
Incremental common shares attributable to share based payment arrangements (in Shares)	us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	9
Incremental common shares attributable to share based payment arrangements (in Shares)	us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements	95

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-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 FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-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 FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 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 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-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