v3.26.1
Acquisitions (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
For the six months ended June 30, 2026 and 2025, our significant acquisitions that were accounted for as business combinations were Kelonia Therapeutics, Inc. (Kelonia), Centessa Pharmaceuticals plc (Centessa), and Ventyx Biosciences, Inc. (Ventyx) and are summarized in the following table:
KeloniaCentessaVentyx
Acquisition dateJune 25, 2026June 24, 2026
March 4, 2026
Business descriptionIn vivo chimeric antigen receptor T-cell (CAR-T) therapiesOrexin receptor 2 agonists for sleep-wake disorders Oral therapies for inflammatory-mediated diseases
Estimated fair value as of acquisition date:
Cash$46 $233 $120 
Acquired in-process research and development (IPR&D)4,695 6,058 977 
Goodwill(1)
1,052 1,655 232 
Deferred tax liabilities, net(822)(1,279)(150)
Other assets and liabilities, net(74)(74)(1)
Acquisition date fair value of consideration4,897 6,593 1,178 
Less:
Cash acquired(46)(233)(120)
Fair value of contingent consideration(1,765)(402)N/A
Cash consideration paid or to be paid, net of cash acquired(2)
$3,086 $5,958 $1,058 
Contingent consideration(3)
$3,750 $1,542 N/A
Primary acquired IPR&D intangibleKLN-1010ORX750VTX3232
(1) The goodwill recognized from these acquisitions is primarily attributable to future unidentified projects and products, the assembled workforce for the companies, and the recognition of deferred tax liabilities, which is not deductible for tax purposes.
(2) As of June 30, 2026, cash consideration unpaid for Kelonia and Centessa was $208 million and $88 million, respectively.
(3) These amounts represent the maximum amount of potential payments and are subject to the achievement of certain specified milestones. See Note 8 for additional information related to contingent consideration amounts.
N/A - Not applicable
Schedule of Significant Acquired IPR&D Charges
The following table summarizes our significant acquired IPR&D charges during 2026 and 2025:
CounterpartyCompound, Therapy, or AssetAcquisition Month
Phase of Development(1)
Acquired IPR&D Charge
Ajax Therapeutics, Inc. (Ajax)AJ1-11095, oral, Type II JAK2 inhibitor for the treatment of myelofibrosis and polycythemia veraJune 2026Phase 1$909 
Orna Therapeutics, Inc. (Orna)ORN-252, CD19 targeting in vivo CAR-T therapy designed to treat B cell-driven autoimmune diseasesMay 2026Phase 11,233 
Scorpion Therapeutics, Inc. (Scorpion)STX-478, PI3Kα inhibitor for the treatment of breast cancer and other advanced solid tumorsMarch 2025Phase 11,412 
(1) The phase of development presented is as of the date of the arrangement and represents the phase of development of the most advanced asset acquired, where applicable.