Vertex Pharmaceuticals Inc (NASDAQ:VRTX) reported first-quarter financial results after the market close on Monday. Here’s a look at the key highlights from the period.
Total revenue grew 3% year-over-year in the first quarter, driven primarily by the continued performance of TRIKAFTA, KAFTRIO and an early contribution from the U.S. launch of ALYFTREK.
Revenue climbed 9% year-over-year in the U.S., but fell 5% year-over-year outside the U.S. The company noted that the international decline was expected, citing a “violation of its intellectual property rights” in Russia that is expected to be a “limited and isolated matter.”
“Vertex delivered a strong start to 2025 with notable execution across the business as we grow and diversify the revenue base, progress multiple launches and advance the R&D pipeline,” said Reshma Kewalramani, president and CEO of Vertex.
“With multiple programs in pivotal development including povetacicept, which continues to make rapid progress in achieving its potential as a pipeline-in-a-product, and additional programs in early and mid-stage development, Vertex is poised to continue to deliver value for years to come.”
Vertex ended the quarter with $11.4 billion in cash, cash equivalents and marketable securities, up from $11.2 billion at the end of 2024.
Guidance: Vertex Pharmaceuticals raised its full-year 2025 revenue guidance from a range of $11.75 billion to $12 billion to a new range of $11.85 billion to $12 billion versus estimates of $11.97 billion, according to Benzinga Pro.
Vertex executives are currently discussing details from the quarter on a call with investors and analysts that started at 4:30 p.m. ET.
VRTX Price Action: Vertex Pharmaceuticals shares were down 3.04% after-hours, trading at $485 at the time of publication on Monday, according to Benzinga Pro.
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Photo: Courtesy of Vertex Pharmaceuticals.
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