2024 Q1 Form 10-K Financial Statement

#000155837024001275 Filed on February 16, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $74.88M $117.6M $442.7M
YoY Change -28.05% 9.66% 7.83%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $37.61M $38.67M $158.3M
YoY Change 20.85% 36.2% 36.48%
% of Gross Profit
Research & Development $25.82M $35.68M $116.1M
YoY Change 100.94% 241.53% 162.25%
% of Gross Profit
Depreciation & Amortization $513.0K $512.0K $1.200M
YoY Change 79.37% 50.59% -14.29%
% of Gross Profit
Operating Expenses $63.42M $74.34M $274.4M
YoY Change 44.25% 91.43% 71.22%
Operating Profit $11.02M -$945.4M
YoY Change -81.66% -477.66%
Interest Expense $7.231M -$7.229M $21.63M
YoY Change 373.54% -285.26% 184.67%
% of Operating Profit 65.62%
Other Income/Expense, Net -$6.062M -$7.229M -$2.639M
YoY Change -205.17% -285.26% -226.57%
Pretax Income $4.958M $30.36M -$948.1M
YoY Change -92.47% -57.99% -475.59%
Income Tax $9.100M $32.10M $83.49M
% Of Pretax Income 183.54% 105.75%
Net Earnings -$4.162M -$1.087M -$1.002B
YoY Change -109.1% -102.22% -672.5%
Net Earnings / Revenue -5.56% -0.92% -226.37%
Basic Earnings Per Share -$0.03 -$0.01 -$6.45
Diluted Earnings Per Share -$0.03 -$0.01 -$6.45
COMMON SHARES
Basic Shares Outstanding 156.5M 156.1M 155.4M
Diluted Shares Outstanding 157.7M 155.4M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $121.5M $92.15M $92.15M
YoY Change -83.58% -85.96% -85.96%
Cash & Equivalents $121.5M $92.15M $92.15M
Short-Term Investments
Other Short-Term Assets $14.62M $12.01M $12.01M
YoY Change 42.17% 33.99% 33.99%
Inventory
Prepaid Expenses
Receivables $72.02M $129.1M $129.1M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $208.2M $233.3M $233.3M
YoY Change -75.97% -70.12% -70.12%
LONG-TERM ASSETS
Property, Plant & Equipment $5.288M $5.585M $18.17M
YoY Change -12.09% -11.18% -10.54%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.398M $3.608M $215.9M
YoY Change 314.39% 325.97% -24.23%
Total Long-Term Assets $230.6M $237.8M $237.8M
YoY Change -20.17% -25.67% -25.67%
TOTAL ASSETS
Total Short-Term Assets $208.2M $233.3M $233.3M
Total Long-Term Assets $230.6M $237.8M $237.8M
Total Assets $438.8M $471.1M $471.1M
YoY Change -62.02% -57.2% -57.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.222M $7.830M $7.830M
YoY Change 5172.88% 1521.12% 1521.12%
Accrued Expenses $44.52M $67.47M $67.47M
YoY Change 87.65% 169.62% 169.62%
Deferred Revenue $1.700M $2.600M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $199.8M $199.6M $199.6M
YoY Change
Total Short-Term Liabilities $252.4M $276.1M $276.1M
YoY Change 958.77% 981.69% 981.69%
LONG-TERM LIABILITIES
Long-Term Debt $473.5M $498.3M $498.3M
YoY Change 19.37% 25.76% 25.76%
Other Long-Term Liabilities $29.41M $28.42M $42.96M
YoY Change 148.77% 190.96% 62.94%
Total Long-Term Liabilities $29.41M $28.42M $541.3M
YoY Change 148.77% 190.96% 28.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $252.4M $276.1M $276.1M
Total Long-Term Liabilities $29.41M $28.42M $541.3M
Total Liabilities $281.9M $304.5M $817.4M
YoY Change 690.24% 762.87% 82.39%
SHAREHOLDERS EQUITY
Retained Earnings -$1.703B -$1.699B
YoY Change 161.7% 143.92%
Common Stock $1.373B $1.355B
YoY Change 1.15% 0.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$330.5M -$346.3M -$346.3M
YoY Change
Total Liabilities & Shareholders Equity $438.8M $471.1M $471.1M
YoY Change -62.02% -57.2% -57.2%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$4.162M -$1.087M -$1.002B
YoY Change -109.1% -102.22% -672.5%
Depreciation, Depletion And Amortization $513.0K $512.0K $1.200M
YoY Change 79.37% 50.59% -14.29%
Cash From Operating Activities $44.99M $35.83M $183.4M
YoY Change -43.89% -54.74% -33.0%
INVESTING ACTIVITIES
Capital Expenditures $68.00K $4.188M $273.0K
YoY Change 423.08% -15611.11% 100.74%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$68.00K -$4.188M -$1.026B
YoY Change 423.08% -15611.11% 754545.59%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -15.56M -50.90M 277.2M
YoY Change -490.73% -1914.11% -216.67%
NET CHANGE
Cash From Operating Activities 44.99M 35.83M 183.4M
Cash From Investing Activities -68.00K -4.188M -1.026B
Cash From Financing Activities -15.56M -50.90M 277.2M
Net Change In Cash 29.39M -19.26M -565.8M
YoY Change -65.07% -123.48% -1668.4%
FREE CASH FLOW
Cash From Operating Activities $44.99M $35.83M $183.4M
Capital Expenditures $68.00K $4.188M $273.0K
Free Cash Flow $44.92M $31.65M $183.2M
YoY Change -43.96% -60.05% -33.06%

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CY2023 us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">1. Nature of Business </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">Ironwood Pharmaceuticals, Inc. (“Ironwood” or the “Company”) is a gastrointestinal (“GI”) healthcare company dedicated to advancing the treatment of GI diseases and redefining the standard of care for GI patients. The Company is focused on the development and commercialization of innovative GI product opportunities in areas of significant unmet need, leveraging its demonstrated expertise and capabilities in GI diseases. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">LINZESS<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">®</sup><span style="white-space:pre-wrap;"> (linaclotide), the Company’s commercial product, is the first product approved by the United States Food and Drug Administration (the “U.S. FDA”) in a class of GI medicines called guanylate cyclase type C agonists (“GC-C agonists”) and is indicated for adult men and women suffering from irritable bowel syndrome with constipation (“IBS-C”) or chronic idiopathic constipation (“CIC”) and for pediatric patients ages 6-17 years-old suffering from functional constipation (“FC”). LINZESS is available to adult men and women suffering from IBS-C or CIC in the United States (the “U.S.”), Mexico and Saudi Arabia, to adult men and women suffering from IBS-C or chronic constipation in Japan, IBS-C in China, and pediatric patients ages 6-17 years old with FC in the U.S. Linaclotide is available under the trademarked name CONSTELLA</span><sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">®</sup> to adult men and women suffering from IBS-C or CIC in Canada, and to adult men and women suffering from IBS-C in certain European countries. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">The Company has strategic partnerships with leading pharmaceutical companies to support the development and commercialization of linaclotide throughout the world. The Company and its partner, AbbVie Inc. (together with its affiliates, “AbbVie”), began commercializing LINZESS in the U.S. in December 2012. Under the Company’s collaboration for North America with AbbVie, total net sales of LINZESS in the U.S., as recorded by AbbVie, are reduced by commercial costs incurred by each party, and the resulting amount is shared equally between the Company and AbbVie. Additionally, development costs are shared equally between the Company and AbbVie.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">Outside of the U.S., the Company earns royalties as a percentage of net sales of products containing linaclotide as an active ingredient by the Company’s collaboration partners. AbbVie has an exclusive license from the Company to develop and commercialize linaclotide in all countries other than China (including Hong Kong and Macau), Japan and the countries and territories of North America (the “AbbVie License Territory”). In addition, AbbVie has exclusive rights to commercialize linaclotide in Canada as CONSTELLA and in Mexico as LINZESS. Astellas Pharma Inc. (“Astellas”), the Company’s partner in Japan, has an exclusive license to develop, manufacture, and commercialize linaclotide in Japan. AstraZeneca AB (together with its affiliates) (“AstraZeneca”), the Company’s partner in China, has the exclusive right to develop, manufacture, and commercialize products containing linaclotide in China (including Hong Kong and Macau) (the “AstraZeneca License Territory”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">In June 2023, the Company completed a tender offer to purchase 98% of the outstanding ordinary shares of VectivBio Holding AG (“VectivBio”), a clinical-stage biotechnology company focused on the discovery and development of treatments for severe, rare GI conditions for which there is a significant unmet medical need. In December 2023, the Company completed a squeeze-out merger under Swiss law to acquire all remaining outstanding ordinary shares and VectivBio Holding AG was merged with and into Ironwood Pharmaceuticals GmbH, a wholly-owned subsidiary of Ironwood organized under the laws of Switzerland. Through the acquisition, the Company is advancing apraglutide, a next-generation, synthetic peptide analog of glucagon-like peptide-2 (“GLP-2”), for rare GI diseases, including short bowel syndrome dependent on parenteral support (“SBS-IF”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">The Company has a collaboration and license option agreement (the “COUR Collaboration Agreement”) with COUR Pharmaceutical Development Company, Inc. (“COUR”), a biotechnology company developing novel immune-modifying nanoparticles to treat autoimmune diseases. The COUR Collaboration Agreement grants the Company an option to acquire an exclusive license to research, develop, manufacture and commercialize, in the U.S., products containing CNP-104, a potential treatment for primary biliary cholangitis, a rare autoimmune disease targeting the liver.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">These and other agreements are more fully described in Note 5, <i style="font-style:italic;">Collaboration, License, and Other Agreements,</i> to these consolidated financial statements. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">The Company is also advancing IW-3300, a GC-C agonist, for the potential treatment of visceral pain conditions, including interstitial cystitis / bladder pain syndrome (“IC/BPS”) and endometriosis. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company was incorporated in Delaware on January 5, 1998 as Microbia, Inc. On April 7, 2008, the Company changed its name to Ironwood Pharmaceuticals, Inc. To date, the Company has dedicated a majority of its activities to the research, development and commercialization of linaclotide, as well as to the research and development of its other product candidates. </p>
CY2021 us-gaap Number Of Reportable Segments
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CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
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CY2023 us-gaap Number Of Reportable Segments
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1
CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Reclassifications</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Certain prior period financial statement items have been reclassified to conform to current period presentation.</p>
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of consolidated financial statements in accordance with U.S. generally accepted accounting principles requires the Company’s management to make estimates and judgments that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the amounts of revenues and expenses during the reported periods. On an ongoing basis, the Company’s management evaluates its estimates, judgments and methodologies. Estimates and assumptions in the consolidated financial statements include those related to fair value of assets acquired and liabilities assumed in acquisitions; revenue recognition; accounts receivable; useful lives of long-lived assets, impairment of long-lived assets, including goodwill; valuation procedures for right-of-use assets and operating lease liabilities; fair value of derivatives; income taxes, including uncertain tax positions and the valuation allowance for deferred tax assets; research and development expenses; contingencies; defined benefit pension liability; and share-based compensation. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ materially from these estimates under different assumptions or conditions. Changes in estimates are reflected in reported results in the period in which they become known.</p>
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CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
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CY2022Q4 us-gaap Restricted Cash Noncurrent
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CY2023Q4 us-gaap Restricted Cash
RestrictedCash
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
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CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;font-weight:bold;">Concentrations of Credit Risk</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that subject the Company to credit risk primarily consist of cash and cash equivalents, restricted cash, and accounts receivable. The Company maintains its cash and cash equivalent balances with high-quality financial institutions and the Company believes that such funds are subject to minimal credit risk. The Company has adopted an investment policy which limits the amounts the Company may invest in certain types of investments, and requires all investments held by the Company to be at least A- rated, thereby reducing credit risk exposure.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Accounts receivable primarily consists of amounts due under the linaclotide collaboration agreement with AbbVie for North America (Note 5). The Company does not obtain collateral for its accounts receivable. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The percentages of revenue recognized from significant collaborative partners of the Company in the years ended December 31, 2023, 2022 and 2021 and the account receivable balances, net of any payables due, at December 31, 2023 and 2022 are included in the following table: </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;min-height:0.0pt;margin:0pt;"><span style="font-size:0pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:61.27%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.18%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.17%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.98%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:4.97%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.75%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;width:61.27%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td colspan="3" style="vertical-align:bottom;width:11.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Accounts</b><b style="font-weight:bold;"><br/></b><b style="font-weight:bold;">Receivable</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.75%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:20.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Revenue</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.75%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;"> </b></p></td></tr><tr><td style="vertical-align:bottom;width:61.27%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td colspan="3" style="vertical-align:bottom;white-space:nowrap;width:11.11%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">December 31, </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.75%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td colspan="5" style="vertical-align:bottom;white-space:nowrap;width:20.46%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Year Ended December 31, </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.75%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;"> </b></p></td></tr><tr><td style="vertical-align:bottom;width:61.27%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:4.18%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2023</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:4.17%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2022</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.75%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:4.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2023</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:4.98%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2022</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.75%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;">    </b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:4.97%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">2021</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.75%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt;"><b style="font-weight:bold;"> </b></p></td></tr><tr><td style="vertical-align:bottom;width:61.27%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">Collaborative Partner:</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:4.18%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:4.17%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.75%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:4.98%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:4.98%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.75%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:4.97%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.75%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:61.27%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0pt 12pt;">AbbVie (North America and Europe)</p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.64%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:4.18%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;">87</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">%  </p></td><td style="vertical-align:bottom;white-space:nowrap;width:4.17%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 80</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.75%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">%  </p></td><td style="vertical-align:bottom;white-space:nowrap;width:4.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 98</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.76%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">%  </p></td><td style="vertical-align:bottom;white-space:nowrap;width:4.98%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 98</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.75%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">%  </p></td><td style="vertical-align:bottom;white-space:nowrap;width:4.97%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3.5pt 0pt 0pt;"> 98</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.75%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">%  </p></td></tr></table><p style="font-family:'Times New Roman','Times','serif';font-size:1pt;margin:0pt;"> </p><p style="font-family:'Times New Roman','Times','serif';font-size:1pt;margin:0pt;"> </p>
CY2021Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
333294000
CY2021Q4 us-gaap Convertible Debt Current
ConvertibleDebtCurrent
116858000
CY2021Q4 us-gaap Convertible Debt Noncurrent
ConvertibleDebtNoncurrent
337333000
CY2021Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
1543357000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-937608000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
800000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
400000
CY2023 us-gaap Profit Loss
ProfitLoss
-1031559000
CY2022 us-gaap Profit Loss
ProfitLoss
175065000
CY2021 us-gaap Profit Loss
ProfitLoss
528448000
CY2023 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-29320000
CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1002239000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
175065000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
528448000
CY2023 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
155435000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
154366000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
162245000
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
155435000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
186312000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
164418000
CY2023 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-6.45
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.13
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.26
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-6.45
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.96
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.21
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7587000
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15662000
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
54428000
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
129100000
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
130000000.0
CY2023Q4 irwd Accounts Receivable Net Of Accounts Payable Current And Noncurrent
AccountsReceivableNetOfAccountsPayableCurrentAndNoncurrent
112600000
CY2022Q4 irwd Accounts Receivable Net Of Accounts Payable Current And Noncurrent
AccountsReceivableNetOfAccountsPayableCurrentAndNoncurrent
104400000
CY2023 irwd Milestone Payment To Be Received By Company Upon Milestone Achievement
MilestonePaymentToBeReceivedByCompanyUponMilestoneAchievement
90000000.0
CY2023Q4 irwd Threshold Percentage Of Collateralized Value
ThresholdPercentageOfCollateralizedValue
1.02
CY2023Q4 irwd Threshold Percentage Of Collateralized Value
ThresholdPercentageOfCollateralizedValue
1.02
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3317000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
3384000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
4901000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
21169000
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
1115000
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
1316000
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
-1115000
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
1297000
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
0
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
19000
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
0
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
19000
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
0
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
0
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
2507000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
2509000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
2520000
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1241000
CY2022 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1070000
CY2021 us-gaap Short Term Lease Cost
ShortTermLeaseCost
960000
CY2023 us-gaap Lease Cost
LeaseCost
3748000
CY2022 us-gaap Lease Cost
LeaseCost
3579000
CY2021 us-gaap Lease Cost
LeaseCost
3480000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
3065000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
3114000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
3128000
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y4M24D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y3M18D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y3M18D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.058
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.058
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
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0.058
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3126000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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3189000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3252000
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3500000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
17669000
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3126000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
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14543000
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16700000
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14474000
CY2022Q4 us-gaap Property Plant And Equipment Gross
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17052000
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8889000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10764000
CY2023Q4 us-gaap Property Plant And Equipment Net
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5585000
CY2022Q4 us-gaap Property Plant And Equipment Net
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6288000
CY2023 us-gaap Depreciation Depletion And Amortization
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1200000
CY2022 us-gaap Depreciation Depletion And Amortization
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1400000
CY2021 us-gaap Depreciation Depletion And Amortization
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1500000
CY2023Q4 us-gaap Employee Related Liabilities Current
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19937000
CY2022Q4 us-gaap Employee Related Liabilities Current
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12268000
CY2023Q4 us-gaap Interest Payable Current
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5953000
CY2022Q4 us-gaap Interest Payable Current
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188000
CY2023Q4 us-gaap Restructuring Reserve Current
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8303000
CY2023Q4 us-gaap Accrued Income Taxes Current
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1244000
CY2022Q4 us-gaap Accrued Income Taxes Current
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656000
CY2023Q4 us-gaap Other Accrued Liabilities Current
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8817000
CY2022Q4 us-gaap Other Accrued Liabilities Current
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3588000
CY2023Q4 irwd Accrued Expenses And Other Liabilities Current
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44254000
CY2023Q4 us-gaap Other Accrued Liabilities Current
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8800000
CY2023Q4 irwd Other Accrued Liabilities Current Uninvoiced Vendor Liabilities
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6100000
CY2023Q4 us-gaap Contract With Customer Liability Current
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2600000
CY2022Q4 us-gaap Other Accrued Liabilities Current
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3600000
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21100000
CY2015Q2 us-gaap Payments For Hedge Financing Activities
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21100000
CY2023 us-gaap Common Stock Voting Rights
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CY2023Q4 irwd Common Stock Voting Rights Per Share
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1
CY2021Q2 us-gaap Stock Repurchase Program Authorized Amount1
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150000000.0
CY2023 us-gaap Stock Repurchased And Retired During Period Shares
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10800000
CY2023 us-gaap Stock Repurchased And Retired During Period Value
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123400000
us-gaap Stock Repurchased And Retired During Period Shares
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13100000
irwd Stock Repurchased And Retired During Period Weighted Average Price
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11.47
CY2023 us-gaap Allocated Share Based Compensation Expense
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59553000
CY2022 us-gaap Allocated Share Based Compensation Expense
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27048000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22281000
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
59553000
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
27048000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
22281000
CY2023 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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2964000
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1644000
CY2023 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
56589000
CY2022 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
25404000
CY2021 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
22281000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
14647564
CY2023 irwd Share Based Compensation Arrangements By Share Based Payment Award Options Expiration Term
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationTerm
P10Y
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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6931372
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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12.34
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y3M25D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5786000
CY2023 us-gaap Stock Issued During Period Shares Stock Options Exercised
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255209
CY2023 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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10.58
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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839857
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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12.76
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5836306
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.36
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y6M21D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
2920000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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5836306
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
12.36
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P2Y6M21D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
2920000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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5836280
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
12.36
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y6M21D
CY2023Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
2920000
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
200000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
900000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2700000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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226532000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
252422000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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200657000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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252422000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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200657000
CY2023 us-gaap Current State And Local Tax Expense Benefit
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10587000
CY2022 us-gaap Current State And Local Tax Expense Benefit
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11618000
CY2021 us-gaap Current State And Local Tax Expense Benefit
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CY2023 us-gaap Current Foreign Tax Expense Benefit
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CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
10933000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
11618000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
5503000
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
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47864000
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
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24693000
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
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13548000
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2023 us-gaap Deferred Income Tax Expense Benefit
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72557000
CY2022 us-gaap Deferred Income Tax Expense Benefit
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65739000
CY2021 us-gaap Deferred Income Tax Expense Benefit
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
83490000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
77357000
CY2021 us-gaap Income Tax Expense Benefit
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CY2023 us-gaap Income Tax Expense Benefit
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83500000
CY2023 irwd Income Tax Expense Benefit Non Cash
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74100000
CY2023 irwd Income Tax Expense Benefit Cash
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9400000
CY2022 us-gaap Income Tax Expense Benefit
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CY2022 irwd Income Tax Expense Benefit Non Cash
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73400000
CY2022 irwd Income Tax Expense Benefit Cash
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CY2021 us-gaap Income Tax Expense Benefit
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CY2021 us-gaap Current State And Local Tax Expense Benefit
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5500000
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
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CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
42138000
CY2023 irwd Effective Income Tax Rate Reconciliation Acquisition Accounting Amount
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139301000
CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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93394000
CY2023 irwd Effective Income Tax Rate Reconciliation Disallowed Transaction Costs Amount
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3424000
CY2023 us-gaap Income Tax Reconciliation Nondeductible Expense
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704000
CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
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-290000
CY2021 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
426000
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
14024000
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
16160000
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
12554000
CY2023 irwd Effective Income Tax Rate Reconciliation Executive Compensation
EffectiveIncomeTaxRateReconciliationExecutiveCompensation
3979000
CY2022 irwd Effective Income Tax Rate Reconciliation Executive Compensation
EffectiveIncomeTaxRateReconciliationExecutiveCompensation
2654000
CY2021 irwd Effective Income Tax Rate Reconciliation Executive Compensation
EffectiveIncomeTaxRateReconciliationExecutiveCompensation
695000
CY2023 irwd Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost Windfalls
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-1903000
CY2022 irwd Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost Windfalls
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-3613000
CY2021 irwd Income Tax Reconciliation Nondeductible Expense Share Based Compensation Cost Windfalls
IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCostWindfalls
-6270000
CY2023 irwd Income Tax Reconciliation Fair Market Valuation Of Note Hedge Warrants And Convertible Note Hedges
IncomeTaxReconciliationFairMarketValuationOfNoteHedgeWarrantsAndConvertibleNoteHedges
-5000
CY2022 irwd Income Tax Reconciliation Fair Market Valuation Of Note Hedge Warrants And Convertible Note Hedges
IncomeTaxReconciliationFairMarketValuationOfNoteHedgeWarrantsAndConvertibleNoteHedges
-50000
CY2021 irwd Income Tax Reconciliation Fair Market Valuation Of Note Hedge Warrants And Convertible Note Hedges
IncomeTaxReconciliationFairMarketValuationOfNoteHedgeWarrantsAndConvertibleNoteHedges
325000
CY2023 us-gaap Income Tax Reconciliation Tax Credits
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79000
CY2022 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
252000
CY2021 us-gaap Income Tax Reconciliation Tax Credits
IncomeTaxReconciliationTaxCredits
9000
CY2023 irwd Income Tax Reconciliation Expiring Net Operating Losses And Tax Credits
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933000
CY2022 irwd Income Tax Reconciliation Expiring Net Operating Losses And Tax Credits
IncomeTaxReconciliationExpiringNetOperatingLossesAndTaxCredits
1087000
CY2021 irwd Income Tax Reconciliation Expiring Net Operating Losses And Tax Credits
IncomeTaxReconciliationExpiringNetOperatingLossesAndTaxCredits
491000
CY2023 irwd Income Tax Reconciliation Change In Enacted State And Local Tax Rates
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2134000
CY2022 irwd Income Tax Reconciliation Change In Enacted State And Local Tax Rates
IncomeTaxReconciliationChangeInEnactedStateAndLocalTaxRates
2581000
CY2021 irwd Income Tax Reconciliation Change In Enacted State And Local Tax Rates
IncomeTaxReconciliationChangeInEnactedStateAndLocalTaxRates
123000
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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22492000
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-1155000
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2023 us-gaap Income Tax Reconciliation Other Adjustments
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380000
CY2023 us-gaap Income Tax Expense Benefit
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83490000
CY2022 us-gaap Income Tax Expense Benefit
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77357000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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88769000
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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58437000
CY2022Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
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59290000
CY2023Q4 irwd Deferred Tax Assets Capitalized Research And Development
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18267000
CY2022Q4 irwd Deferred Tax Assets Capitalized Research And Development
DeferredTaxAssetsCapitalizedResearchAndDevelopment
12683000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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12323000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
13666000
CY2023Q4 irwd Deferred Tax Assets Collaboration Agreement
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80638000
CY2022Q4 irwd Deferred Tax Assets Collaboration Agreement
DeferredTaxAssetsCollaborationAgreement
95460000
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
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7149000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
5935000
CY2023Q4 irwd Deferred Tax Assets Basis Difference On Convertible Notes
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1613000
CY2022Q4 irwd Deferred Tax Assets Basis Difference On Convertible Notes
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2845000
CY2023Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
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10968000
CY2022Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
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5299000
CY2023Q4 irwd Deferred Tax Assets Operating Leases
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4774000
CY2022Q4 irwd Deferred Tax Assets Operating Leases
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5337000
CY2023Q4 us-gaap Deferred Tax Assets Other
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1810000
CY2022Q4 us-gaap Deferred Tax Assets Other
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1242000
CY2023Q4 us-gaap Deferred Tax Assets Gross
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301380000
CY2022Q4 us-gaap Deferred Tax Assets Gross
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290526000
CY2023Q4 irwd Deferred Tax Liabilities Operating Lease Right Of Use Assets
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3407000
CY2022Q4 irwd Deferred Tax Liabilities Operating Lease Right Of Use Assets
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3810000
CY2023Q4 us-gaap Deferred Income Tax Liabilities
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3407000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
3810000
CY2023Q4 irwd Deferred Tax Assets Net Including Valuation Allowances
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297973000
CY2022Q4 irwd Deferred Tax Assets Net Including Valuation Allowances
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286716000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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85649000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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3055000
CY2023Q4 us-gaap Deferred Tax Assets Liabilities Net
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212324000
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
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283661000
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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85600000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
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3100000
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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CY2023Q4 us-gaap Tax Credit Carryforward Amount
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62900000
CY2022Q4 us-gaap Unrecognized Tax Benefits
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102625000
CY2021Q4 us-gaap Unrecognized Tax Benefits
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84606000
CY2020Q4 us-gaap Unrecognized Tax Benefits
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68087000
CY2023 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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85446000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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101225000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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