v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues:    
Revenues $ 3,605.4 $ 3,028.7
Expenses:    
Research and development 1,543.5 1,327.4
Acquired in-process research and development 101.9 12.3
Selling, general, and administrative 647.7 633.0
Total Expenses 2,962.5 2,437.0
Income from operations 642.9 591.7
Other income (expense):    
Other income (expense), net 201.2 322.0
Interest expense (12.9) (8.7)
Total other income (expense) 188.3 313.3
Income before income taxes 831.2 905.0
Income tax expense 104.0 96.3
Net income $ 727.2 $ 808.7
Net income per share - basic (in dollars per share) $ 6.99 $ 7.58
Net income per share - diluted (in dollars per share) $ 6.75 $ 7.27
Weighted average shares outstanding - basic (in shares) 104.0 106.7
Weighted average shares outstanding - diluted (in shares) 107.7 111.2
Statements of Comprehensive Income    
Net income $ 727.2 $ 808.7
Other comprehensive income (loss), net of tax:    
Unrealized (loss) gain on debt securities (65.8) 38.1
Gain (loss) on foreign currency translation 0.2 (1.1)
Comprehensive income 661.6 845.7
Net product sales    
Revenues:    
Revenues 1,534.5 1,415.6
Expenses:    
Cost of goods sold, collaboration and contract manufacturing 373.4 265.5
Collaboration revenue    
Revenues:    
Revenues 1,899.7 1,531.2
Other revenue    
Revenues:    
Revenues 171.2 81.9
Cost of collaboration and contract manufacturing    
Expenses:    
Cost of goods sold, collaboration and contract manufacturing $ 296.0 $ 198.8