Earnings ·
Vertex Reports Q3 Revenue of $3.44B, Raises Full-Year Guidance to $13.15B-$13.25B
VRTXVertex Pharmaceuticals Inc / MA
Vertex Pharmaceuticals reported third-quarter revenue of $3.44 billion, a 12% increase from the prior year, driven by strong cystic fibrosis therapies and growth in new franchises including CASGEVY and JOURNAVX. The company raised its full-year 2026 revenue guidance to $13.15 billion–$13.25 billion from the previous range of $13.1 billion–$13.2 billion. GAAP net income declined to $654 million due to acquisition-related costs from Crinetics Pharmaceuticals, while non-GAAP net income remained stable at $1.2 billion. Vertex also announced that povetacicept is awaiting FDA approval for IgA nephropathy with a PDUFA date of November 30, 2026. The company operates in the biotechnology sector, developing transformative medicines for serious diseases including cystic fibrosis and rare endocrine disorders.