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Segment Reporting and Disaggregation of Relevant Expense Captions (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following table presents information about reported segment revenues, segment profit, and significant segment expenses.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in millions) | 2025 |  | 2024 |  | 2025 |  | 2024
Revenues: |  |  |  |  |  |  |
INGREZZA net product sales | $ | 624.4 |  |  | $ | 579.5 |  |  | $ | 1,169.6 |  |  | $ | 1,085.5 |
CRENESSITY net product sales | 53.2 |  |  | — |  |  | 67.7 |  |  | — |
Other revenues (1) | 9.9 |  |  | 10.7 |  |  | 22.8 |  |  | 20.0 |
Total revenues | 687.5 |  |  | 590.2 |  |  | 1,260.1 |  |  | 1,105.5 |
Less: |  |  |  |  |  |  |
Cost of revenues | 11.3 |  |  | 9.2 |  |  | 20.5 |  |  | 16.7 |
Research and development: |  |  |  |  |  |  |
External research and development | 120.6 |  |  | 89.9 |  |  | 228.5 |  |  | 167.5 |
Payroll and benefits | 72.2 |  |  | 54.9 |  |  | 147.2 |  |  | 112.5 |
Milestones | 15.1 |  |  | 26.5 |  |  | 60.5 |  |  | 32.6 |
Other research and development (2) | 36.4 |  |  | 19.8 |  |  | 71.3 |  |  | 37.9 |
Total research and development | 244.3 |  |  | 191.1 |  |  | 507.5 |  |  | 350.5 |
Acquired in-process research and development | — |  |  | 2.5 |  |  | 0.1 |  |  | 8.5 |
Selling, general, and administrative | 286.3 |  |  | 242.0 |  |  | 562.8 |  |  | 485.1 |
Unrealized loss on equity investments | 6.7 |  |  | 19.9 |  |  | 37.3 |  |  | 18.3 |
Charges associated with convertible senior notes | — |  |  | 49.7 |  |  | — |  |  | 138.4 |
Interest income and other, net | (20.6) |  |  | (22.8) |  |  | (42.3) |  |  | (45.1) |
Provision for income taxes | 52.0 |  |  | 33.6 |  |  | 58.8 |  |  | 24.7 |
Net income | $ | 107.5 |  |  | $ | 65.0 |  |  | $ | 115.4 |  |  | $ | 108.4 |
_________________________ (1) Other revenues primarily consist of net product sales for ALKINDI and EFMODY and royalties earned on AbbVie net sales of elagolix and MTPC net sales of valbenazine. (2) Other research and development consists of indirect costs incurred for the benefit of multiple research and development programs, including facility-based expenses (such as rent expense) and other overhead allocations.

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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