---
schema_version: "secwatch.filing_event.v1"
accession: "0000875320-23-000010"
form_type: "8-K"
ticker: "VRTX"
cik: "0000875320"
company_name: "VERTEX PHARMACEUTICALS INC / MA"
filed_at: "2023-05-01T23:59:59+00:00"
generated_at: "2026-06-16T05:52:25.503599+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000875320-23-000010
- form_type: 8-K
- ticker: VRTX
- cik: 0000875320
- company_name: VERTEX PHARMACEUTICALS INC / MA
- filed_at: 2023-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/875320/000087532023000010/0000875320-23-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/875320/000087532023000010/vrtx-20230501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000875320-23-000010
- JSON: https://secwatch.observer/filing/0000875320-23-000010.json
- Plain text: https://secwatch.observer/filing/0000875320-23-000010.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/875320/000087532023000010/0000875320-23-000010-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.