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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Revenues $ 288.9 $ 302.4 $ 525.5 $ 539.5
Operating expenses:        
Cost of sales 3.1 2.4 6.0 4.5
Research and development 74.8 80.9 148.0 139.2
Acquired in-process research and development 5.0 46.0 5.0 46.0
Selling, general and administrative 143.2 96.5 272.2 214.3
Total operating expenses 226.1 225.8 431.2 404.0
Operating income 62.8 76.6 94.3 135.5
Other (expense) income:        
Interest expense (6.2) (8.3) (12.6) (16.5)
Unrealized gain (loss) on equity securities 0.0 11.3 0.7 (5.2)
Investment income and other, net 0.9 3.6 2.3 8.3
Total other (expense) income, net (5.3) 6.6 (9.6) (13.4)
Income before provision for income taxes 57.5 83.2 84.7 122.1
Provision for income taxes 15.2 3.6 10.3 5.1
Net income 42.3 79.6 74.4 117.0
Unrealized (loss) gain on debt securities available-for-sale, net of tax (0.3) 6.0 (1.1) 3.2
Comprehensive income $ 42.0 $ 85.6 $ 73.3 $ 120.2
Net income per share, basic (in USD per share) $ 0.45 $ 0.86 $ 0.79 $ 1.26
Net income per share, diluted (in USD per share) $ 0.43 $ 0.81 $ 0.76 $ 1.20
Weighted average common shares outstanding, basic (in shares) 94.6 93.0 94.4 92.8
Weighted average common shares outstanding, diluted (in shares) 97.7 98.2 98.0 97.6
Product sales, net        
Revenues:        
Revenues $ 266.8 $ 267.6 $ 497.8 $ 498.7
Collaboration revenue        
Revenues:        
Revenues $ 22.1 $ 34.8 $ 27.7 $ 40.8