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Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Product revenues, net $ 2,196.2 $ 1,793.4 $ 4,293.7 $ 3,517.7
Costs and expenses:        
Cost of sales 261.8 228.0 507.6 420.3
Research and development expenses 600.1 448.7 1,201.2 903.0
Acquired in-process research and development expenses 61.9 958.4 63.9 960.1
Selling, general and administrative expenses 215.3 194.6 430.5 386.7
Change in fair value of contingent consideration (49.2) 1.6 (56.7) (2.3)
Total costs and expenses 1,089.9 1,831.3 2,146.5 2,667.8
Income (loss) from operations 1,106.3 (37.9) 2,147.2 849.9
Interest income 10.8 1.1 12.4 2.6
Interest expense (14.6) (15.5) (29.5) (31.2)
Other (expense) income, net (78.1) 8.1 (150.9) (44.6)
Income (loss) before provision for (benefit from) income taxes 1,024.4 (44.2) 1,979.2 776.7
Provision for (benefit from) income taxes 213.9 (111.2) 406.6 56.6
Net income $ 810.5 $ 67.0 $ 1,572.6 $ 720.1
Net income per common share:        
Basic (in dollars per share) $ 3.17 $ 0.26 $ 6.15 $ 2.78
Diluted (in dollars per share) $ 3.13 $ 0.26 $ 6.09 $ 2.75
Shares used in per share calculations:        
Basic (in shares) 255.9 259.0 255.5 259.2
Diluted (in shares) 258.7 261.0 258.3 261.5
Product revenues, net        
Revenues:        
Product revenues, net $ 2,196.2 $ 1,793.4 $ 4,293.7 $ 3,516.7
Other revenues        
Revenues:        
Product revenues, net $ 0.0 $ 0.0 $ 0.0 $ 1.0