Core Viewpoint - Vertex Pharmaceuticals Inc reported better-than-expected earnings for the second quarter, with revenue of $2.97 billion exceeding estimates of $2.90 billion and adjusted EPS of $4.52 surpassing estimates of $4.29 [1][2] Financial Performance - The company's revenue for the second quarter was $2.97 billion, compared to estimates of $2.90 billion [1] - Adjusted EPS was reported at $4.52, exceeding the expected $4.29 [1] Product Performance - Vertex's three product launches—ALYFTREK, JOURNAVX, and CASGEVY—contributed to strong revenue growth [2] - The company is advancing its clinical programs alongside product launches [2] Clinical Study Results - Vertex announced topline results from a Phase 2 study of VX-993 for treating acute pain after bunionectomy surgery, which did not show statistically significant improvement on the primary endpoint [3] - The lack of significant results from the clinical study appears to have pressured the company's shares [3] Stock Performance and Analyst Ratings - Following the earnings announcement, Vertex Pharmaceuticals shares fell 18.8% to $383.40 [3] - Analysts adjusted their price targets for Vertex Pharmaceuticals, with several maintaining their ratings but lowering targets significantly [4][9] - Price target adjustments include: - HC Wainwright & Co. from $550 to $478 [9] - Morgan Stanley from $460 to $439 [9] - Stifel from $494 to $455 [9] - Cantor Fitzgerald from $535 to $485 [9] - BMO Capital from $557 to $530 [9] - UBS from $582 to $553 [9] - RBC Capital from $430 to $405 [9] - Scotiabank from $442 to $438 [9] - Truist Securities from $520 to $490 [9]

Core Insights - Vertex Pharmaceuticals reported adjusted earnings of $4.52 per share for Q2 2025, exceeding the Zacks Consensus Estimate of $4.24, and a significant improvement from an adjusted loss of $12.83 per share in the same quarter last year due to the $4.9 billion acquisition of Alpine Immune Sciences [1][7] - Total revenues for Q2 reached $2.96 billion, surpassing the Zacks Consensus Estimate of $2.89 billion, marking a 12% year-over-year increase driven by strong sales of Trikafta/Kaftrio and contributions from ongoing product launches [2][5] - Vertex's stock has increased by 17.3% year-to-date, significantly outperforming the industry average of 0.2% [4] Financial Performance - U.S. revenues rose 14% year over year to $1.85 billion, while international sales increased 8% to $1.12 billion, supported by strong demand and the launch of Casgevy [5] - Trikafta generated $2.55 billion in sales, a 4.2% increase year over year, narrowly missing the consensus estimate of $2.56 billion [8] - Alyftrek, a newly approved CF treatment, generated $156.8 million in Q2, up from $53.9 million in Q1 2025, indicating strong uptake among eligible patients [9] Product Revenue Breakdown - Total product revenues included sales from Trikafta/Kaftrio, Alyftrek, and other products, with Casgevy sales reaching $30.4 million, reflecting a 114.1% sequential increase [10] - Journavx, a new pain drug, generated $12 million in sales in Q2, receiving positive feedback from both physicians and patients [12] Cost and Guidance - Adjusted R&D expenses increased by 25.9% year over year to $878.1 million, while SG&A expenses rose 28.2% to $359.4 million due to investments in clinical studies and commercial capabilities [13] - Vertex maintained its total revenue guidance for 2025, expecting revenues between $11.85 billion and $12 billion, driven by growth in CF medicines and new product launches [15] Pipeline Developments - Vertex announced disappointing results for VX-993, a pain drug, which failed to meet its primary endpoint in a phase II study, leading to the decision to halt its development as a monotherapy [18][19] - The company continues to advance its pipeline, including studies for povetacicept and zimislecel, targeting various diseases [22][23]

另外，公司公布VX-993用于拇囊炎手术后疼痛治疗的二期研究未能达到主要终点。公司周一表示，基 于这些结果，Vertex将不再进一步推进VX-993作为急性疼痛单药治疗。(格隆汇) 来源：格隆汇APP 美国福泰制药(VRTX.US)盘前大幅下跌超14%。消息上，福泰制药第二季度非GAAP净利润为每股摊薄 利润4.52美元，而去年同期亏损为每股12.83美元。截至6月30日的三个月内，公司营业收入从一年前的 26.5亿美元增长到29.6亿美元，分析师预期为29.1亿美元。 ...

Vertex Pharmaceuticals (VRTX) came out with quarterly earnings of $4.52 per share, beating the Zacks Consensus Estimate of $4.24 per share. This compares to a loss of $12.83 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +6.60%. A quarter ago, it was expected that this drugmaker would post earnings of $4.22 per share when it actually produced earnings of $4.06, delivering a surprise of -3.79%.Over the last four quarters, the ...

Financial Data and Key Metrics Changes - Vertex Pharmaceuticals reported revenue of $2,960,000,000 for Q2 2025, representing a 12% growth compared to Q2 2024 [5][41] - Non-GAAP operating income for Q2 2025 was $1,330,000,000, compared to a non-GAAP operating loss of $3,150,000,000 in Q2 2024 [43] - Net income for Q2 2025 was $1,200,000,000, a significant improvement from a net loss of $3,300,000,000 in the previous year [43] - Non-GAAP earnings per share were $4.52, compared to a loss per share of $12.83 in Q2 2024 [43] Business Line Data and Key Metrics Changes - The CF franchise continued to perform strongly, contributing to revenue growth driven by ongoing patient demand and new product launches [41][30] - CASJEVY generated $30,000,000 in revenue, while GERNAVIX contributed $12,000,000 in Q2 2025 [41] - The company is seeing rapid uptake of ElefTrek among patients new to CFTR modulators and those returning to therapy [32] Market Data and Key Metrics Changes - Revenue outside the U.S. increased by 8% year-on-year, supported by healthy CF growth and contributions from CASJEVY [41] - The launch of GERNAVIX has seen positive reactions from both physicians and patients, with approximately 150 million lives covered by payer access as of mid-July [36][37] Company Strategy and Development Direction - Vertex is focused on expanding its patient reach through multiple new product launches and advancing its R&D pipeline [5][29] - The company aims to secure DPN as its first PNP indication while continuing discussions with the FDA for broader indications [60][61] - Vertex is prioritizing investments in marketing and commercial initiatives to support the launch of GERNAVIX and other products [48][40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering strong revenue growth for 2025, reiterating guidance for total revenue in the range of $11.85 to $12,000,000,000 [44][46] - The company anticipates multiple regulatory submissions in 2026 and early 2027, with potential approvals and launches to follow [29][49] - Management highlighted the importance of ongoing discussions with the FDA to broaden indications for pain management products [60][61] Other Important Information - Vertex announced the retirement of its Chief Scientific Officer, David Alschuler, effective August 1, 2026, with Mark Bunnich set to transition into the role [8][9] - The company is advancing multiple Phase III programs that are poised for accelerated or traditional approval [28] Q&A Session Summary Question: Can you provide insights on the commercial efforts behind GERNAVIX? - Management indicated that the increase in commercial efforts was a reaction to positive feedback and payer coverage progress [54] Question: What is the strategy for pain management now that a broad PNP label is not being pursued? - Management confirmed the focus on securing the DPN indication first, with plans to broaden the label over time [60][61] Question: How is the real-world evidence generation for GERNAVIX progressing? - Management reported that formulary coverage is going well, with several large health systems adding GERNAVIX faster than expected [72] Question: What is the plan for the patient support programs as payer coverage increases? - Management stated that the patient support program will be retired as national coverage is secured [76]

Financial Data and Key Metrics Changes - Vertex Pharmaceuticals reported total revenue of $2,960,000,000 for Q2 2025, reflecting a 12% increase compared to Q2 2024 [5][41] - Non-GAAP operating income for Q2 2025 was $1,330,000,000, a significant recovery from a non-GAAP operating loss of $3,150,000,000 in Q2 2024 [44] - Net income for Q2 2025 was $1,200,000,000, compared to a net loss of $3,300,000,000 in the same quarter of the previous year [44] - Non-GAAP earnings per share were $4.52, a turnaround from a loss per share of $12.83 in Q2 2024 [44] Business Line Data and Key Metrics Changes - The CF franchise continued to perform strongly, with revenue growth driven by ongoing patient demand and the launch of new products [41][42] - CASJEVY contributed $30,000,000 to total revenue, while GERNAVIX added $12,000,000 [42] - The company is focused on expanding its CFTR modulator portfolio to younger age groups and developing new regimens [12][29] Market Data and Key Metrics Changes - Revenue outside the U.S. increased by 8% year-on-year, supported by healthy CF growth and contributions from CASJEVY [42] - The company has secured reimbursement for AlifTrek in multiple regions, including the U.S., U.K., EU, and Canada [11][12] Company Strategy and Development Direction - Vertex is focused on commercialization across multiple disease areas and expanding patient reach through new product launches [5][6] - The company is advancing its R&D pipeline with four programs in pivotal development and plans to initiate a fifth program in primary membranous nephropathy [6][20] - Vertex aims to secure DPN as its first PNP indication while continuing discussions with the FDA for broader indications [60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver strong revenue growth in 2025, reiterating guidance for total revenue between $11.85 billion and $12 billion [45][47] - The company anticipates continued growth from its CF medicines and expects to see increased revenue contributions from GERNAVIX in the second half of the year [46][47] Other Important Information - Vertex announced a new $4,000,000,000 share repurchase program, building on an existing program [44] - The company is preparing for multiple regulatory submissions in 2026 and early 2027, with several Phase III programs underway [27][28] Q&A Session Summary Question: On pain and GERNAVIX commercialization efforts - Management indicated that the increase in commercial efforts for GERNAVIX was a reaction to positive feedback and payer coverage progress [54] Question: Strategy for pain indications and gross to net expectations - The company plans to secure the DPN indication first and then explore broader indications, with gross to net expected to normalize as patient support programs are phased out [62] Question: Insights on GERNAVIX real-world evidence generation - Progress in real-world evidence generation is going well, with hospitals and health systems adopting GERNAVIX faster than expected [75] Question: Plans for POVY and prioritization of indications - The company plans to launch POVY with an auto injector for IGAN and prioritize indications based on unmet need and emerging data [80][82] Question: Commercial lives with unrestricted access for GERNAVIX - Management is working on expanding payer coverage and expects to see increased access as negotiations progress [94]

Welcome back to Overtime. Vertex earnings are out. The stocks lower.Angelica Peebles has the numbers. Angelica. Hey, John.Well, Vertex beating on the top and bottom line, but the bigger news here is that they're saying that their next generation pain drug, VX993, failed in a phase 2 trial, and as a result, they are not moving forward with that drug. Remember, pain is becoming an increasingly big area for Vert. Ex.They had a drug approved just earlier this year, Javics, that appears to be getting off to a li ...

Financial Performance & Guidance - Q2 2025 total revenues reached $2.96 billion, compared to $2.65 billion in Q2 2024[48] - The company reiterated its 2025 total revenue guidance of $11.85-$12.0 billion[7] - Non-GAAP operating income for Q2 2025 was $1.33 billion, with a 45% operating margin[48] - Non-GAAP net income for Q2 2025 was $1.17 billion, or $4.52 per share diluted[48] - The company expects combined non-GAAP R&D, AIPR&D, and SG&A expenses to be $4.9-$5.0 billion for 2025[49] Key Product Updates - ALYFTREK generated $157 million in revenue in Q2 2025 and is approved for ages 6+ in the U S, U K, EU & Canada[33,48] - CASGEVY generated $30 million in revenue in Q2 2025, with 29 total patients infused since launch[40,48] - JOURNAVX generated $12 million in revenue in Q2 2025, with >110,000 prescriptions successfully filled as of mid-July[47,48] Pipeline Development - The company plans global regulatory submissions for Zimislecel (T1D) in 2026, targeting an initial launch to ~60,000 severe T1D patients[7,12] - Povetacicept (IgAN) Phase 3 interim analysis cohort is fully enrolled, with potential U S filing for accelerated approval in H1 2026[7,19] - VX-407 (ADPKD) Phase 2 proof-of-concept study is set to begin in Q3 2025, targeting up to ~30,000 patients with a subset of variants in the PKD1 gene[7,30]

Vertex Reports Second Quarter 2025 Financial Results — Total revenue of $2.96 billion, a 12% increase compared to Q2 2024; reiterated full year 2025 financial guidance, including revenue guidance of $11.85 to $12 billion — — Continued strong execution of CASGEVY , ALYFTREK and JOURNAVX launches — ® ® ® Second Quarter 2025 Results Total revenue increased 12% to $2.96 billion compared to the second quarter of 2024, primarily driven by the continued performance of cystic fibrosis (CF) therapies and early contr ...

Vertex Pharmaceuticals Incorporated VRTX will release earnings results for the second quarter, after the closing bell on Monday, Aug. 4.Analysts expect the Boston, Massachusetts-based company to report quarterly earnings at $4.25 per share, versus a year-ago loss of $12.83 per share. Vertex Pharmaceuticals projects to report quarterly revenue at $2.91 billion, compared to $2.65 billion a year earlier, according to data from Benzinga Pro.On July 22, Vertex announced marketing authorization in Canada for ALYF ...