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Condensed Consolidated Statements of Income (Loss) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Total revenues $ 3,076.4 $ 2,771.9 $ 8,811.3 $ 8,108.1
Costs and expenses:        
Cost of sales 414.8 392.6 1,185.3 1,107.1
Research and development expenses 977.7 875.9 2,935.8 2,631.6
Acquired in-process research and development expenses 54.5 15.0 76.5 4,540.9
Selling, general and administrative expenses 445.1 371.8 1,266.1 1,086.7
Intangible asset impairment charge 0.0 0.0 379.0 0.0
Change in fair value of contingent consideration (1.9) 0.3 1.2 0.7
Total costs and expenses 1,890.2 1,655.6 5,843.9 9,367.0
Income (loss) from operations 1,186.2 1,116.3 2,967.4 (1,258.9)
Interest income 125.7 132.2 369.0 469.9
Interest expense (3.3) (7.5) (10.0) (27.8)
Other expense, net (9.8) (16.9) (14.2) (71.2)
Income (loss) before provision for income taxes 1,298.8 1,224.1 3,312.2 (888.0)
Provision for income taxes 215.9 178.7 550.1 560.6
Net income (loss) $ 1,082.9 $ 1,045.4 $ 2,762.1 $ (1,448.6)
Net income (loss) per common share:        
Basic (in dollars per share) $ 4.24 $ 4.05 $ 10.77 $ (5.61)
Diluted (in dollars per share) $ 4.20 $ 4.01 $ 10.68 $ (5.61)
Shares used in per share calculations:        
Basic (in shares) 255.6 258.0 256.4 258.1
Diluted (in shares) 257.6 261.0 258.6 258.1
Product revenues, net        
Total revenues $ 3,076.4 $ 2,771.9 $ 8,780.6 $ 8,108.1
Other revenues        
Total revenues $ 0.0 $ 0.0 $ 30.7 $ 0.0