Press release
Vertex Reports Fourth Quarter and Full Year Financial 2022 Results
— Full year product revenue of $8.93 billion, an 18% increase compared to full year 2021 — — Full year GAAP and non-GAAP net income increased 42% and 53%,
About this update from Vertex Pharmaceuticals Incorporated
[{"type":"text","content":"\n— Full year product revenue of $8.93 billion, an 18% increase compared to full year 2021 —\n\n— Full year GAAP and non-GAAP net income increased 42% and 53%, respectively, versus 2021—\n\n— Company provides full year 2023 product revenue guidance of $9.55 to $9.7 billion —\n\n— Exa-cel regulatory submissions validated in the EU and U.K.; U.S. rolling BLA submission underway —\n\n— Advancing broad and diverse clinical pipeline, with multiple clinical milestones expected in 2023 —\n\n BOSTON--(BUSINESS WIRE)--\nVertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the fourth quarter and full year ended December 31, 2022 and provided full year 2023 financial guidance.\n\n“Outstanding execution across the company resulted in another year of strong revenue growth as well as acceleration of both the research and clinical-stage pipeline,” said Reshma Kewalramani, M.D., Chief Executive Officer and President of Vertex. “Our progress in 2022 lays the foundation for treating more people with cystic fibrosis, launching multiple new therapies in the near term, achieving important clinical milestones, and driving continued significant growth for many years to come.”\n\nFourth Quarter and Full Year 2022 Financial Highlights\n\n\n\n \n\n\n\nThree Months Ended\nDecember 31,\n\n\n\n \n\n\n\n%\n\n\n\n \n\n\n\nTwelve Months Ended\nDecember 31,\n\n\n\n \n\n\n\n%\n\n\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\nChange\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\nChange\n\n\n\n\n\n \n\n\n\n(in millions, except per share amounts)\n\n\n\n\n\nProduct revenues, net\n\n\n\n$\n\n\n\n2,303\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n2,073\n\n\n\n \n\n\n\n \n\n\n\n11%\n\n\n\n \n\n\n\n$\n\n\n\n8,931\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n7,573\n\n\n\n \n\n\n\n \n\n\n\n18%\n\n\n\n\n\nTRIKAFTA/KAFTRIO\n\n\n\n$\n\n\n\n2,022\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1,693\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n7,687\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n5,697\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nSYMDEKO/SYMKEVI\n\n\n\n$\n\n\n\n34\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n80\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n180\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n420\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nORKAMBI\n\n\n\n$\n\n\n\n111\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n147\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n...