Vertex Q1 product rev $2.37B (+13%); net income down 8% on higher R&D; FY23 guidance unchanged

VERTEX PHARMACEUTICALS INC / MA

2023-Q1 EPS reported $2.69 revenue$2,374,800,000

Product revenue $2.37B (+13% YoY); U.S. $1.40B (+3%), ex-U.S. $971M (+33%).
GAAP net income decreased 8% YoY; cash and marketable securities $11.5B at quarter end.
FY23 product revenue guidance reaffirmed at $9.55-9.7B; combined GAAP R&D and SG&A unchanged at $4.35-4.6B.
TRIKAFTA approved in U.S. for CF children aged 2-5; completed rolling BLA submissions for exa-cel in U.S.
Pipeline: VX-548 acute pain Phase 3 enrollment ongoing; inaxaplin AMKD Phase 2/3; VX-880 T1D data expected at ADA June 2023.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

VERTEX PHARMACEUTICALS INC / MA reported the first quarter ended March 31, 2023 results: revenue $2.37 billion. Guidance reaffirmed.

Period: the first quarter ended March 31, 2023
Revenue: $2.37 billion
Guidance: reaffirmed
Result: reported results

Exact text from the filing

as shall be expressly set forth by specific reference in such filing. --- EX-99.1 (EX-99.1) --- Vertex Reports First Quarter 2023 Financial Results — Product revenue of $2.37 billion, a 13% increase compared to Q1 2022 — — Company reiterates full year 2023 financial guidance, including product revenue guidance of $9.55 to $9.7 billion — — TRIKAFTA approved in

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VERTEX PHARMACEUTICALS INC / MA filing history →

Source: SEC EDGAR

accession 0000875320-23-000010

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