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Condensed Consolidated Statements of Income (Loss) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Total revenues $ 2,964.7 $ 2,645.6 $ 5,734.9 $ 5,336.2
Costs and expenses:        
Cost of sales 407.5 371.9 770.5 714.5
Research and development expenses 978.4 966.6 1,958.1 1,755.7
Acquired in-process research and development expenses 2.2 4,449.1 22.0 4,525.9
Selling, general and administrative expenses 424.6 372.2 821.0 714.9
Intangible asset impairment charge 0.0 0.0 379.0 0.0
Change in fair value of contingent consideration 0.9 0.5 3.1 0.4
Total costs and expenses 1,813.6 6,160.3 3,953.7 7,711.4
Income (loss) from operations 1,151.1 (3,514.7) 1,781.2 (2,375.2)
Interest income 122.4 156.5 243.3 337.7
Interest expense (3.7) (9.9) (6.7) (20.3)
Other income (expense), net 13.2 (23.1) (4.4) (54.3)
Income (loss) before provision for income taxes 1,283.0 (3,391.2) 2,013.4 (2,112.1)
Provision for income taxes 250.1 202.4 334.2 381.9
Net income (loss) $ 1,032.9 $ (3,593.6) $ 1,679.2 $ (2,494.0)
Net income (loss) per common share:        
Basic (in dollars per share) $ 4.02 $ (13.92) $ 6.54 $ (9.66)
Diluted (in dollars per share) $ 3.99 $ (13.92) $ 6.48 $ (9.66)
Shares used in per share calculations:        
Basic (in shares) 256.7 258.1 256.8 258.1
Diluted (in shares) 258.9 258.1 259.2 258.1
Product revenues, net        
Total revenues $ 2,944.0 $ 2,645.6 $ 5,704.2 $ 5,336.2
Other revenues        
Total revenues $ 20.7 $ 0.0 $ 30.7 $ 0.0