VRTX Stock Down as Q1 Sales of New Drugs Miss Expectations

Vertex Pharmaceuticals Incorporated’s (VRTX) first-quarter results were weak as it missed estimates for both earnings and sales. The company’s total revenues of $2.77 billion rose 3% year over year, driven by higher sales of its triple combination cystic fibrosis (CF) therapy Trikafta/Kaftrio and an early contribution from the U.S. launch of Alyftrekt. Trikafta sales rose 9% in the quarter.While sales rose 9% in the United States, in outside U.S. markets, sales decreased 5%, hurt by the availability of an i ...