Aug 3 (Reuters) - Vertex Pharmaceuticals on Monday raised the upper end of its annual revenue forecast, banking on robust demand for its cystic fibrosis treatments.
The company expects its annual revenue to be between $13.1 billion and $13.2 billion, compared with $12.95 billion to $13.1 billion previously. Analysts on average expect 2026 revenue of $13.07 billion, according to data compiled by LSEG.
Vertex said its annual outlook excludes the pending Crinetics acquisition and that an updated forecast
will be provided after the deal closes, which is expected in the third quarter.
Here are more details:
• Vertex's $10 billion acquisition of Crinetics expands its reach beyond cystic fibrosis, adding endocrine disorders to a diversification strategy that already includes povetacicept in kidney, Casgevy in sickle cell and Journavx in pain, analysts had said.
• The company's new cystic fibrosis drug, once-daily triple combination therapy Alyftrek, brought in sales of $573.6 million during the second quarter, compared with $156.8 million a year ago.
• The company's older cystic fibrosis drug, combination therapy Trikafta, posted quarterly sales of $2.50 billion, missing estimates of $2.65 billion.
• Cystic fibrosis is a rare and progressive genetic disorder caused by the absence of a protein regulating salt and water transport in and out of cells, leading to severe respiratory and digestive problems.
• Second-quarter total revenue rose 12% to $3.33 billion from a year ago, beating estimates of $3.23 billion. The growth was driven by the continued performance of cystic fibrosis therapies, the company said.
• Vertex reported quarterly profit of $4.73 per share on an adjusted basis, in line with estimates.
(Reporting by Sneha S K in Bengaluru; Editing by Shreya Biswas)
