Bengaluru – Vertex Pharmaceuticals missed Wall Street expectations in Q1 due to
slower-than-anticipated sales of its leading cystic fibrosis (CF) therapy, Trikafta. Although
the treatment saw a 2% year-on-year revenue increase to $2.53 billion, it fell short of
analysts’ forecast of $2.58 billion, per data from LSEG.
Despite the miss, Vertex raised the lower end of its full-year revenue outlook to between
$11.85 billion and $12 billion, up slightly from the previous range.
The company is pinning future growth on new offerings like Journavx, an acute pain
medication, and Alyftrek, a next-generation CF drug approved by the U.S. FDA in
December. Alyftrek is a once-daily pill designed to manage a rare, inherited condition that
disrupts salt and water balance in cells.
Vertex also reported progress on its gene therapy initiative, Casgevy, developed for a rare
blood disorder that necessitates frequent transfusions. So far, 90 patients have begun cell
collection at over 65 activated treatment centers worldwide.
Total quarterly revenue climbed 2.7% to $2.77 billion, still below the $2.85 billion estimate.
Adjusted earnings came in at $4.06 per share, falling short of the projected $4.32.
The drugmaker remains optimistic about sustaining long-term growth through innovation in
genetic and rare disease therapies.
