SOURCE FACT · Source 2026-09-18

Sponsor decision, no safety concerns.

SOURCE FACT · Source 2026-08-06

s 32,413 (18,382) — 14,032 31,888 (17,211) — 14,678 Indefinite-lived assets – IPR&D(1)(2) — — — — 2,300 — — 2,300 Total intangible assets $ 32,413 $ (18,382) $ — $ 14,032 $ 34,188 $ (17,211) $ — $ 16,978 _______________________________ (1) In May 2026, FDA granted accelerated approval of Hepcludex (bulevirtide) for treatment of adults living with chronic hepatitis delta virus infection. Accordingly, the related IPR&D intangible asset of $550 million was reclassified to finite-lived assets in the second quarter of 2026. (2) During the second quarter of 2026, we recorded an impairment for the remaining $1.75 billion IPR&D intangible asset balance related to sacituzumab govitecan-hziy (“SG”) for NSCLC. See “2026 Impairment” below. Impairment Assessments We did not identify any indicators of impairment r

SOURCE FACT · Source 2026-08-06

billion in In-process research and development impairments on our Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2026. 2025 Impairment During the three months ended June 30, 2025, additional data became available indicating a more competitive market for bulevirtide where it was not yet approved. Based on our evaluation of the data, and in connection with the preparation of the financial statements for the second quarter of 2025, we performed an interim impairment test and determined that the revised estimated fair value of the bulevirtide IPR&D intangible asset was below its carrying value. As a result, we recognized a partial impairment charge of $190 million in In-process research and development impairments on our Condensed Consolidated Statements of O

SOURCE FACT · Source 2026-08-06

mpetitive market for bulevirtide where it was not yet approved. Based on our evaluation of the data, and in connection with the preparation of the financial statements for the second quarter of 2025, we performed an interim impairment test and determined that the revised estimated fair value of the bulevirtide IPR&D intangible asset was below its carrying value. As a result, we recognized a partial impairment charge of $190 million in In-process research and development impairments on our Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2025. To arrive at the revised estimated fair value as of June 30, 2025, we used a probability-weighted income approach that discounts expected future cash flows to present value, which requires the use of Level 3 fair value

SOURCE FACT · Source 2026-08-06

he U.S. federal statutory rate of 21% primarily due to favorable changes in the fair value of certain of our equity securities that are non-taxable for income tax purposes, tax benefits from stock-based compensation and a decrease in foreign deferred tax liabilities associated with the $190 million bulevirtide IPR&D intangible asset impairment charge. Our effective income tax rate of 19.7% for the six months ended June 30, 2025 differed from the U.S. federal statutory rate of 21% primarily due to tax benefits from stock-based compensation. 13. SEGMENT INFORMATION We have one operating segment which primarily focuses on the discovery, development and commercialization of innovative medicines in areas of unmet medical need. See Note 2. Revenues for disaggregation of our revenues by major products and b

SOURCE FACT · Source 2026-08-06

of $1.75 billion in In-process research and development impairments on our Condensed Consolidated Statements of Operations for the three months ended June 30, 2026. 2025 Impairment During the three months ended June 30, 2025, additional data became available indicating a more competitive market for bulevirtide where it was not yet approved. Based on our evaluation of the data, and in connection with the preparation of the financial statements for the second quarter of 2025, we performed an interim impairment test and determined that the revised estimated fair value of the bulevirtide IPR&D intangible asset was below its carrying value. As a result, we recognized a partial impairment charge of $190 million in In-process research and development impairments on our Condensed Consolidated Statements of O

SOURCE FACT · Source 2026-08-06

mpetitive market for bulevirtide where it was not yet approved. Based on our evaluation of the data, and in connection with the preparation of the financial statements for the second quarter of 2025, we performed an interim impairment test and determined that the revised estimated fair value of the bulevirtide IPR&D intangible asset was below its carrying value. As a result, we recognized a partial impairment charge of $190 million in In-process research and development impairments on our Condensed Consolidated Statements of Operations for the three months ended June 30, 2025. To arrive at the revised estimated fair value as of June 30, 2025, we used a probability-weighted income approach that discounts expected future cash flows to present value, which requires the use of Level 3 fair value measurem

SOURCE FACT · Source 2026-05-07

0 Total intangible assets $ 34,163 $ (17,782) $ — $ 16,382 $ 34,188 $ (17,211) $ — $ 16,978 _______________________________ (1) The Indefinite-lived assets – IPR&D balance as of March 31, 2026 was comprised of $1.75 billion related to sacituzumab govitecan-hziy for NSCLC and $550 million related to bulevirtide. Impairment Assessments No indicators of impairment resulting in an adjustment to the carrying value of intangible assets were identified for the three months ended March 31, 2026 and 2025. 16 8. OTHER FINANCIAL INFORMATION Accounts Receivable, Net The following table summarizes our Accounts receivable, net: (in millions) March 31, 2026 December 31, 2025 Accounts receivable(1) $ 5,544 $ 5,895 Less: allowances for chargebacks 661 843 Less: allowances for cash discounts and other 98 97 Less: allo