Vertex expects $4.4B AIPR&D charge and $200M compensation expense from Alpine acquisition in Q2 2024

VERTEX PHARMACEUTICALS INC / MA

Vertex records one-time non-deductible AIPR&D expense of approx. $4.4B in Q2 2024 from Alpine asset acquisition accounting.
Also expects $200M transaction-related compensation expense for acceleration of unvested Alpine equity awards in Q2 2024.
Charges will impact GAAP and non-GAAP operating expenses and net income for Q2 and full year 2024, and related guidance.
Vertex completed Alpine acquisition for $5.0B cash on May 20, 2024; expects to absorb Alpine's non-GAAP R&D/SG&A within existing guidance.

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