Vertex Q1 product revenue $2.69B (+13% YoY); reiterates FY guidance; $4.9B Alpine acquisition

VERTEX PHARMACEUTICALS INC / MA

2024-Q1 EPS reported $4.21 revenue$2,690,600,000

Q1 product revenue $2.69B, up 13% YoY; GAAP net income up 57%; Non-GAAP net income up 56%.
Reiterates FY2024 product revenue guidance $10.55-$10.75B; combined non-GAAP R&D and SG&A $4.3-$4.4B.
Submitted NDA (priority review) for vanzacaftor triple in CF to FDA and MAA to EMA; rolling NDA for suzetrigine in acute pain.
Entered agreement to acquire Alpine Immune Sciences for ~$4.9B ($65/sh cash); expected close Q2 2024.
Cash and marketable securities $14.6B; >25 CASGEVY ATCs activated globally; multiple patients started cell collection.

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 full year 2024 results: revenue 10.55 to 10.75 billion. Guidance reaffirmed.

Period: full year 2024
Revenue: 10.55 to 10.75 billion
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Vertex today reiterated its full year 2024 financial guidance, including product revenue guidance of $10.55 to $10.75 billion.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

VERTEX PHARMACEUTICALS INC / MA reported first quarter ended March 31, 2024 results: revenue 2.69 billion.

Period: first quarter ended March 31, 2024
Revenue: 2.69 billion
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 2024 Financial Results — Product revenue of $2.69 billion, a 13% i ncrease compared to Q1 2023; reiterated full year 2024 financial guidance, including product revenue guidance of $10.55 to $10.75 billion — — Submitted NDA and MAA

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Source: SEC EDGAR

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