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Supplemental Financial Information
 6 Months Ended
Jun. 30, 2025
Other Balance Sheet Details [Abstract]  
Supplemental Financial Information Supplemental Financial Information
Inventory consisted of the following:
(in millions)June 30,
2025		December 31,
2024
Raw materials$28.0 $33.7 
Work in process15.5 10.9 
Finished goods13.6 12.8 
57.1 57.4 
Less inventory reserves
(0.2)— 
Total inventory
$56.9 $57.4 
Prior to FDA approval of CRENESSITY in December 2024, all costs related to its manufacturing were expensed as R&D in the period incurred. As a result, our physical inventories as of June 30, 2025 and December 31, 2024 included active pharmaceutical product with no cost basis. Costs related to the manufacturing of bulk drug product, finished bottling, and other labeling activities that occurred post-FDA approval are included in the inventory values as of June 30, 2025 and December 31, 2024.
Accounts payable and accrued liabilities consisted of the following:
(in millions)June 30,
2025		December 31,
2024
Sales rebates and reserves$175.6 $144.2 
Accrued employee related costs84.6 107.5 
Accrued development costs (including unpaid development milestones)
61.0 50.8 
Current branded prescription drug fee38.0 49.2 
Current income taxes payable
25.7 9.9 
Accounts payable and other accrued liabilities104.6 100.0 
Total accounts payable and accrued liabilities$489.5 $461.6 
Other noncurrent liabilities consisted of the following:
(in millions)June 30,
2025		December 31,
2024
Noncurrent income taxes payable
$183.0 $160.7 
Other noncurrent liabilities
27.1 5.5 
Total other noncurrent liabilities$210.1 $166.2 
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same such amounts shown in the condensed consolidated statements of cash flows.
(in millions)June 30,
2025		June 30,
2024
Cash and cash equivalents$264.0 $139.7 
Restricted cash included in other noncurrent assets
8.0 8.0 
Total cash, cash equivalents, and restricted cash$272.0 $147.7