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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Revenues $ 3,754.3 $ 3,720.7 $ 10,458.6 $ 10,412.8
Expenses:        
Research and development 1,475.0 1,271.5 4,224.1 3,719.9
Acquired in-process research and development 83.1 56.2 105.4 87.2
Selling, general, and administrative 657.8 714.4 1,925.0 2,162.2
Other operating (income) expense, net (10.0) 8.0 (10.0) 37.9
Total Expenses 2,727.5 2,541.2 7,760.6 7,412.3
Income from operations 1,026.8 1,179.5 2,698.0 3,000.5
Other income (expense):        
Other income (expense), net 755.8 327.3 1,520.6 866.0
Interest expense (19.3) (13.8) (31.6) (44.7)
Total other income (expense) 736.5 313.5 1,489.0 821.3
Income before income taxes 1,763.3 1,493.0 4,187.0 3,821.8
Income tax expense 303.3 152.4 526.7 326.9
Net income $ 1,460.0 $ 1,340.6 $ 3,660.3 $ 3,494.9
Net income per share - basic (in dollars per share) $ 14.09 $ 12.40 $ 34.83 $ 32.36
Net income per share - diluted (in dollars per share) $ 13.62 $ 11.54 $ 33.61 $ 30.23
Weighted average shares outstanding - basic (in shares) 103.6 108.1 105.1 108.0
Weighted average shares outstanding - diluted (in shares) 107.2 116.2 108.9 115.6
Statements of Comprehensive Income        
Net income $ 1,460.0 $ 1,340.6 $ 3,660.3 $ 3,494.9
Other comprehensive income (loss), net of tax:        
Unrealized gain on debt securities 15.7 128.2 75.9 139.6
Gain on foreign currency translation 0.8 1.9 1.0 1.5
Comprehensive income 1,476.5 1,470.7 3,737.2 3,636.0
Net product sales        
Revenues:        
Revenues 1,587.7 1,946.4 4,634.3 5,626.3
Expenses:        
Cost of goods sold, collaboration and contract manufacturing 281.0 262.3 822.1 760.5
Collaboration revenue        
Revenues:        
Revenues 1,968.4 1,660.1 5,360.3 4,450.9
Other revenue        
Revenues:        
Revenues 198.2 114.2 464.0 335.6
Cost of collaboration and contract manufacturing        
Expenses:        
Cost of goods sold, collaboration and contract manufacturing $ 240.6 $ 228.8 $ 694.0 $ 644.6