Business
Vertex Reports Full-Year and Fourth-Quarter 2019 Financial Results
- Full-year 2019 total GAAP product revenues of $4.16 billion - - Full-year 2019 total non-GAAP product revenues of $4.00 billion, a 32% increase compared to
About this update from Vertex Pharmaceuticals Incorporated
[{"type":"text","content":"\n- Full-year 2019 total GAAP product revenues of $4.16 billion -\n\n\n- Full-year 2019 total non-GAAP product revenues of $4.00 billion, a 32% increase compared to the full-year 2018 -\n\n\n- Company provides full-year 2020 total product revenue guidance of $5.1 billion to $5.3 billion -\n\n BOSTON--(BUSINESS WIRE)--\nVertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the full year and fourth quarter ended December 31, 2019 and provided full-year 2020 financial guidance.\n\n\n\"In 2019, our differentiated strategy of investing in serial scientific innovation to create transformative medicines delivered remarkable performance. This was marked by the early approval of TRIKAFTA, the rapid progression of our pipeline in additional diseases and continued financial growth as we continued to treat more patients with our medicines worldwide,\" said Jeffrey Leiden, M.D., Ph.D., Chairman, President and Chief Executive Officer of Vertex. \"This success is the culmination of many years of hard work to build a team, a pipeline and a company that we believe will discover, develop and commercialize transformative medicines for years to come.\"\n\n\nFourth-Quarter and Full-Year 2019 Financial Highlights\n\n\n\n\n \n\n\n\nThree Months Ended\nDecember 31,\n\n\n\n \n\n\n\n%\n\n\n\n \n\n\n\nTwelve Months Ended\nDecember 31,\n\n\n\n \n\n\n\n%\n\n\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n2018\n\n\n\n \n\n\n\nChange\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n2018\n\n\n\n \n\n\n\nChange\n\n\n\n\n\n \n\n\n\n(in millions, except per share amounts)\n\n\n\n \n\n\n\n(in millions, except per share amounts)\n\n\n\n\n\nGAAP Product revenues, net\n\n\n\n$\n\n\n\n1,413\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n868\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n63%\n\n\n\n \n\n\n\n$\n\n\n\n4,161\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n3,038\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n37%\n\n\n\n\n\nNon-GAAP Product revenues, net^\n\n\n\n$\n\n\n\n1,257\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n868\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n45%\n\n\n\n \n\n\n\n$\n\n\n\n4,005\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n3,038\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n32%\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\...