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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Revenues $ 3,158.1 $ 2,857.2 $ 6,320.2 $ 5,822.3
Expenses:        
Research and development 1,085.3 794.3 2,186.5 1,638.1
Acquired in-process research and development 0.0 197.0 56.1 225.1
Selling, general, and administrative 652.0 476.3 1,253.1 926.3
Other operating (income) expense, net (0.6) (17.4) (1.1) (37.6)
Total Expenses 2,141.6 1,747.3 4,357.0 3,453.9
Income from operations 1,016.5 1,109.9 1,963.2 2,368.4
Other income (expense):        
Other income (expense), net 85.3 (133.6) 14.6 (317.4)
Interest expense (18.9) (13.1) (36.9) (26.7)
Total other income (expense) 66.4 (146.7) (22.3) (344.1)
Income before income taxes 1,082.9 963.2 1,940.9 2,024.3
Income tax expense 114.5 111.1 154.7 198.7
Net income $ 968.4 $ 852.1 $ 1,786.2 $ 1,825.6
Net income per share - basic (in dollars per share) $ 9.05 $ 7.90 $ 16.69 $ 17.01
Net income per share - diluted (in dollars per share) $ 8.50 $ 7.47 $ 15.68 $ 16.07
Weighted average shares outstanding - basic (in shares) 107.0 107.9 107.0 107.3
Weighted average shares outstanding - diluted (in shares) 113.9 114.0 113.9 113.6
Statements of Comprehensive Income        
Net income $ 968.4 $ 852.1 $ 1,786.2 $ 1,825.6
Other comprehensive income (loss), net of tax:        
Unrealized (loss) gain on debt securities (15.7) (53.7) 41.5 (198.6)
Loss on foreign currency translation (0.4) 0.0 (0.4) 0.0
Unrealized gain on cash flow hedges 0.0 0.0 0.0 1.0
Comprehensive income 952.3 798.4 1,827.3 1,628.0
Net product sales        
Revenues:        
Revenues 1,772.1 1,754.4 3,440.1 3,393.0
Expenses:        
Cost of goods, collaboration and contract manufacturing 192.4 149.2 400.8 356.5
Collaboration revenue        
Revenues:        
Revenues 1,316.7 1,043.6 2,694.8 2,276.1
Other revenue        
Revenues:        
Revenues 69.3 59.2 185.3 153.2
Cost of collaboration and contract manufacturing        
Expenses:        
Cost of goods, collaboration and contract manufacturing $ 212.5 $ 147.9 $ 461.6 $ 345.5