v3.25.4
Segment Reporting and Disaggregation of Relevant Expense Captions (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following table presents information about reported segment revenues, segment profit, and significant segment expenses.
Year Ended December 31,
(in millions)202520242023
Revenues:
INGREZZA net product sales$2,513.7 $2,313.5 $1,836.0 
CRENESSITY net product sales301.2 1.7 — 
Other revenues (1)
45.640.151.1
Total revenues2,860.5 2,355.3 1,887.1 
Less:
Cost of revenues52.1 34.0 39.7 
Research and development:
External research and development 507.3 343.5 310.0 
Payroll and benefits306.4 236.7 206.7 
Milestones65.4 71.7 0.8 
Other research and development (2)
136.6 79.2 47.5 
Total research and development1,015.7 731.1 565.0 
Acquired in-process research and development17.4 12.5 143.9 
Selling, general, and administrative1,156.2 1,007.2 887.6 
Unrealized loss (gain) on equity investments4.0 37.1 (28.4)
Charges associated with convertible senior notes— 138.4 — 
Interest income and other, net(90.3)(91.0)(52.8)
Provision for income taxes226.8 144.7 82.4 
Net income
$478.6 $341.3 $249.7 
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(1) Other revenues primarily consist of net product sales of ALKINDI and EFMODY and royalties earned on AbbVie net sales of elagolix and TPC net sales of valbenazine.
(2) Other research and development consists of indirect costs incurred for the benefit of multiple research and development programs, including facility-based expenses (such as rent expense) and other overhead allocations.