v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Total revenues $ 1,208.3 $ 1,045.7 $ 2,277.2 $ 1,943.5
Operating expenses:        
Cost of product sales (excluding amortization of acquired developed technologies) 116.4 116.3 250.5 220.9
Selling, general and administrative 389.2 358.4 741.9 872.4
Research and development 207.5 189.9 403.5 370.6
Intangible asset amortization 170.0 162.1 342.3 316.5
Acquired in-process research and development 77.0 905.4 77.0 905.4
Gain on sale of priority review voucher 0.0 0.0 (122.8) 0.0
Total operating expenses 960.1 1,732.1 1,692.4 2,685.8
Income (loss) from operations 248.2 (686.4) 584.8 (742.3)
Interest expense, net (37.1) (47.4) (77.0) (101.1)
Foreign exchange gain (loss) (0.1) (1.8) 2.4 (2.0)
Income (loss) before income tax expense (benefit) and equity in loss of investees 211.0 (735.6) 510.2 (845.4)
Income tax expense (benefit) 18.1 (17.2) 24.2 (35.0)
Equity in loss of investees 0.1 0.1 0.1 0.6
Net income (loss) $ 192.8 $ (718.5) $ 485.9 $ (811.0)
Net income (loss) per ordinary share:        
Basic (in dollars per share) $ 3.05 $ (11.74) $ 7.77 $ (13.28)
Diluted (in dollars per share) $ 2.78 $ (11.74) $ 7.17 $ (13.28)
Weighted-average ordinary shares used in per share calculations - basic (in shares) 63.2 61.2 62.5 61.1
Weighted-average ordinary shares used in per share calculations - diluted (in shares) 69.4 61.2 67.8 61.1
Product sales, net        
Revenues:        
Total revenues $ 1,156.1 $ 985.6 $ 2,181.4 $ 1,825.0
Royalties and contract revenues        
Revenues:        
Total revenues $ 52.2 $ 60.1 $ 95.8 $ 118.5