Intangible Assets and Goodwill (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets, net of accumulated amortization, impairment charges and adjustments are summarized as follows:

		As of December 31, 2024						As of December 31, 2023
(In millions)	Estimated Life	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Completed technology	1-31 years	$	14,138.4	$	(6,254.1)	$	7,884.3	$	11,728.8	$	(5,869.8)	$	5,859.0
In-process research and development	Indefinite until commercialization	1,642.9		—		1,642.9		2,340.0		—		2,340.0
Priority review voucher	Indefinite	100.0		—		100.0		100.0		—		100.0
Trademarks and trade names	Indefinite	64.0		—		64.0		64.0		—		64.0
Total intangible assets		$	15,945.3	$	(6,254.1)	$	9,691.2	$	14,232.8	$	(5,869.8)	$	8,363.0

Estimated future amortization of intangible assets

The estimated future amortization of finite-lived intangible assets for the next five years is expected to be as follows:

(In millions)	As of December 31, 2024
2025	$	525.0
2026	560.0
2027	600.0
2028	630.0
2029	665.0

Summary of roll forward of the changes in goodwill

The following table provides a roll forward of the changes in our goodwill balance:

	As of December 31,
(In millions)	2024		2023
Goodwill, January 1	$	6,219.2	$	5,749.0
Goodwill resulting from HI-Bio acquisition	256.5		—
Goodwill resulting from Reata acquisition(1)	4.7		464.5
Other	(1.5)		5.7
Goodwill, December 31	$	6,478.9	$	6,219.2

(1) Goodwill resulting from Reata acquisition for the year ended December 31, 2024, relates to Reata measurement period adjustments recognized during 2024.