v3.26.1
Acquisition of Soleno Therapeutics, Inc. (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Business Combination
The following table summarizes the preliminary consideration transferred:
(in millions)May 18,
2026
Cash paid to Soleno stockholders$2,762.5 
Cash paid to settle Soleno equity awards attributable to pre-combination service67.4 
Total preliminary consideration transferred$2,829.9 
Schedule of Business Combination, Recognized Asset Acquired and Liability Assumed
The following table summarizes the preliminary allocation of consideration transferred to the assets acquired and liabilities assumed as of the acquisition date:
(in millions)May 18,
2026
Cash and cash equivalents$471.3 
Accounts receivable34.7 
Inventory185.3 
Prepaid expenses and other current assets9.0 
Intangible assets2,237.8 
Right-of-use assets4.6 
Accounts payable and accrued liabilities(113.9)
Operating lease liabilities(4.6)
Deferred tax liabilities(489.4)
Other assets and liabilities, net0.5 
Total identifiable net assets acquired2,335.3 
Goodwill494.6 
Total assets acquired and liabilities assumed$2,829.9 
Schedule of Business Combination, Pro Forma Information
The following unaudited pro forma financial information presents the combined results of the Company and Soleno for the periods presented as if the acquisition had occurred on January 1, 2025:
Three Months Ended
June 30,		Six Months Ended
June 30,
(in millions)2026202520262025
Revenues$998.4 $720.2 $1,907.5 $1,292.8 
Net income (loss)$203.4 $67.7 $395.0 $(57.9)