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Condensed Consolidated Statements of Income - 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:        
Product revenues, net $ 2,493.2 $ 2,196.2 $ 4,868.0 $ 4,293.7
Costs and expenses:        
Cost of sales 308.6 261.8 575.5 507.6
Research and development expenses 785.7 600.1 1,528.3 1,201.2
Acquired in-process research and development expenses 110.5 61.9 457.6 63.9
Selling, general and administrative expenses 262.6 215.3 503.7 430.5
Change in fair value of contingent consideration (0.6) (49.2) (2.5) (56.7)
Total costs and expenses 1,466.8 1,089.9 3,062.6 2,146.5
Income from operations 1,026.4 1,106.3 1,805.4 2,147.2
Interest income 144.7 10.8 267.3 12.4
Interest expense (11.2) (14.6) (22.6) (29.5)
Other income (expense), net 1.6 (78.1) 2.9 (150.9)
Income before provision for income taxes 1,161.5 1,024.4 2,053.0 1,979.2
Provision for income taxes 245.8 213.9 437.5 406.6
Net income $ 915.7 $ 810.5 $ 1,615.5 $ 1,572.6
Net income per common share:        
Basic (in dollars per share) $ 3.55 $ 3.17 $ 6.27 $ 6.15
Diluted (in dollars per share) $ 3.52 $ 3.13 $ 6.21 $ 6.09
Shares used in per share calculations:        
Basic (in shares) 257.7 255.9 257.6 255.5
Diluted (in shares) 260.4 258.7 260.3 258.3