XML 35 R25.htm IDEA: XBRL DOCUMENT v3.24.3
Acquisitions (Tables)
 9 Months Ended
Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]  
Schedule of the Amounts Recognized for Assets Acquired and Liabilities Assumed
The following table summarizes the preliminary amounts recognized for assets acquired and liabilities assumed as of the acquisition date:
Estimated Fair Value at May 23, 2024
Cash$2.3 
Goodwill(1)
816.5
Property and equipment108.5
Other assets and liabilities, net(0.3)
Acquisition date fair value of consideration transferred 927.0 
Less:
Cash acquired(2.3)
Cash paid, net of cash acquired$924.7 
(1) The goodwill recognized from this acquisition is primarily attributable to the synergies between the manufacturing capabilities of the site and our products as well as the assembled workforce of the site, which is deductible for tax purposes.
The following table summarizes the preliminary amounts recognized for assets acquired and liabilities assumed as of the acquisition date:
Estimated Fair Value at December 27, 2023
Cash$302.7 
Acquired in-process research and development (IPR&D)
196.0
Goodwill (1)
859.1
Other assets and liabilities, net(19.3)
Acquisition date fair value of consideration transferred 1,338.5 
Less:
Cash acquired(302.7)
Cash paid, net of cash acquired$1,035.8 
(1) The goodwill recognized from this acquisition is primarily attributable to the radiopharmaceutical discovery, development, and manufacturing capabilities and the assembled workforce for POINT, which is not deductible for tax purposes.
Schedule of Research and Development Assets Acquired Other than Through Business Combination The following table summarizes our significant acquired IPR&D charges during the three and nine months ended September 30, 2024 and 2023:
CounterpartyCompound(s), Therapy or AssetAcquisition Month
Phase of Development(1)
Acquired IPR&D Charge
Morphic Holding, Inc. (Morphic)
MORF-057, inhibitor of α4β7 integrin for the treatment of inflammatory bowel diseaseAugust 2024Phase 2$2,548.5 
DICE Therapeutics, Inc.
DC-806, an oral IL-17 inhibitor for the treatment of chronic diseases in immunology(2)
August 2023Phase 21,915.5 
Versanis Bio, Inc.Bimagrumab, a monoclonal antibody for the treatment of people living with obesity and obesity-related complicationsAugust 2023Phase 2604.1 
Emergence Therapeutics AGETx-22, a Nectin-4 antibody-drug conjugate for the treatment of urothelial cancerAugust 2023Pre-clinical406.5 
(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.
(2) In 2024, we discontinued development of this molecule in favor of another molecule in development.