v3.25.2
Segment Information
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates in one business segment, which includes all activities related to the discovery, development, and commercialization of medicines for serious diseases. The determination of a single business segment is consistent with the consolidated financial information regularly provided to the Company's chief operating decision maker ("CODM"). The Company's CODM is its Chief Executive Officer, who reviews and evaluates consolidated net income for purposes of assessing performance, making operating decisions, allocating resources, and planning and forecasting for future periods.
In addition to the significant expense categories included within consolidated net income presented on the Company's Condensed Consolidated Statements of Operations, see below for disaggregated amounts that comprise research and development expenses:
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)2025202420252024
Direct research and development expenses(a)
$454.1 $363.9 $842.5 $772.3 
Indirect research and development expenses:
Payroll and benefits449.4 422.5 901.1 841.4 
Lab supplies and other research and development costs
64.9 56.5 124.9 112.4 
Occupancy and other operating costs158.6 141.6 313.0 276.1 
Total indirect research and development expenses
672.9 620.6 1,339.0 1,229.9 
Clinical manufacturing costs
337.0 260.1 647.3 534.6 
Reimbursement of research and development expenses by collaborators(42.3)(44.6)(79.7)(88.4)
Total research and development expenses
$1,421.7 $1,200.0 $2,749.1 $2,448.4 
(a) Direct research and development expenses are comprised primarily of costs paid to third parties for clinical and product development activities, and the portion of research and development expenses incurred by our collaborators that we are obligated to reimburse