v3.25.4
CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues:      
Total revenues $ 4,267,586 $ 4,068,950 $ 3,834,204
Operating expenses:      
Cost of product sales (excluding amortization of acquired developed technologies) 503,296 445,713 435,577
Selling, general and administrative 1,809,271 1,385,294 1,343,105
Research and development 782,736 884,000 849,658
Intangible asset amortization 654,661 627,313 608,284
Acquired in-process research and development 947,862 10,000 19,000
Total operating expenses 4,697,826 3,352,320 3,255,624
Income (loss) from operations (430,240) 716,630 578,580
Interest expense, net (195,051) (238,097) (289,438)
Foreign exchange gain (loss) (2,568) (8,182) 8,787
Income (loss) before income tax benefit and equity in loss of investees (627,859) 470,351 297,929
Income tax benefit (272,443) (91,429) (119,912)
Equity in loss of investees 732 1,660 3,009
Net income (loss) $ (356,148) $ 560,120 $ 414,832
Net income (loss) per ordinary share:      
Basic (in dollars per share) $ (5.84) $ 9.06 $ 6.55
Diluted (in dollars per share) $ (5.84) $ 8.65 $ 6.10
Weighted-average ordinary shares used in per share calculations - basic (in shares) 60,981 61,838 63,291
Weighted-average ordinary shares used in per share calculations - diluted (in shares) 60,981 66,007 72,066
Product sales, net      
Revenues:      
Total revenues $ 4,021,849 $ 3,821,164 $ 3,736,943
Royalties and contract revenues      
Revenues:      
Total revenues $ 245,737 $ 247,786 $ 97,261