v3.25.4

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Net income for our segment was as follows (in thousands):

			Year Ended December 31,
			2025						2024						2023
Product revenues, net			$	4,354,333					$	3,618,888					$	3,165,168
Product royalty revenues			636,909						579,329						523,481
Milestone and contract revenues			150,000						43,000						7,000
Total revenues			5,141,242						4,241,217						3,695,649
Costs, expenses and other:
Cost of product revenues (including definite-lived intangible amortization)			372,130						312,068						254,990
Contract dispute settlement			(242,251)						—						—
Research and development - internal1			984,730						957,043						815,025
Research and development - external2			967,848						866,005						775,919
Other research and development3			97,574						783,800						36,650
Sales and marketing			1,094,754						945,428						876,703
General and administrative			281,452						296,729						278,959
Asset impairment			76,275						—						5,631
(Gain) loss on change in fair value of acquisition-related contingent consideration			(6,129)						19,803						29,202
(Profit) and loss sharing under collaboration agreements			—						(1,025)						2,045
Other segment items4			228,209						28,751						22,926
Net income			$	1,286,650					$	32,615					$	597,599

1.Research and development - internal is comprised of internally generated costs such as salaries, travel, regulatory costs, lab costs, contracting, etc.

2.Research and development - external is comprised of specific program spend with external vendors (i.e. contract manufacturing organization, contract research organization and lab vendors for clinical, technical operations and toxicology services).

3.Other research and development is comprised of all other costs including certain one-time costs resulting from the acquisition of IPR&D assets and one-time development milestone expenses.

4.Other segment items is comprised of interest income, interest expense, realized and unrealized (gain) loss on equity investments, other, net, and provision for income taxes.

Schedule of Revenue from External Customers by Geographic Areas

Total revenues by geographic region consisted of the following (in thousands):

			Twelve Months Ended December 31,
			2025						2024						2023
United States			$	4,799,941					$	3,974,567					$	3,514,873
Europe			323,734						260,437						175,866
Other countries			17,567						6,213						4,910
Total revenues			$	5,141,242					$	4,241,217					$	3,695,649

Schedule of Long-Lived Assets by Geographic Areas

Property and equipment, net by geographic location was as follows (in thousands):

			Dec 31, 2025						Dec 31, 2024
United States			$	406,829					$	474,095
Switzerland			309,802						277,623
Other countries			14,254						11,693
Total property and equipment, net			$	730,885					$	763,411

X

- Definition

Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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