Business
Vertex Reports Second-Quarter 2019 Financial Results
- Product revenues of $940 million, a 25% increase compared to 2018 - - Company increases full-year 2019 total product revenue guidance to $3.6 to $3.7
About this update from Vertex Pharmaceuticals Incorporated
[{"type":"text","content":"\n- Product revenues of $940 million, a 25% increase compared to 2018 -\n\n\n- Company increases full-year 2019 total product revenue guidance to $3.6 to $3.7 billion -\n\n\n- Company advancing programs in 5 additional diseases beyond cystic fibrosis -\n\n BOSTON--(BUSINESS WIRE)--\nVertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the second quarter ended June 30, 2019 and increased its full-year 2019 total product revenue guidance.\n\n\n\"We have made tremendous progress across our business in 2019 thus far. In CF, we submitted a New Drug Application to the FDA for our VX-445 triple combination regimen, which we believe has the potential to treat up to 90% of all CF patients in the future. We continue to focus on ensuring all eligible patients have access to our CF medicines as early as possible,\" said Jeffrey Leiden, M.D., Ph.D., Chairman, President and Chief Executive Officer of Vertex. \"Additionally, we have rapidly grown our pipeline beyond CF, advancing seven new potential medicines across five disease areas, including beta thalassemia, sickle cell disease, alpha-1 antitrypsin deficiency, APOL1-mediated kidney diseases and pain. And through our expanded collaboration with CRISPR Therapeutics and acquisition of Exonics Therapeutics, we have now established a leading gene editing platform for the treatment of Duchenne Muscular Dystrophy and Myotonic Dystrophy Type 1.\"\n\n\nSecond-Quarter 2019 Financial Highlights\n\n\n\n\n \n\n\n\nThree Months Ended June 30,\n\n\n\n \n\n\n\n%\n\n\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n2018\n\n\n\n \n\n\n\nChange\n\n\n\n\n\n \n\n\n\n(in millions, except per share amounts)\n\n\n\n\n\nTotal product revenues, net\n\n\n\n$\n\n\n\n940\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n750\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n25%\n\n\n\n\n\nKALYDECO\n\n\n\n$\n\n\n\n262\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n253\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nORKAMBI\n\n\n\n$\n\n\n\n316\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n311\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nSYMDEKO/SYMKEVI\n\n\n\n$\n\n\n\n362\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n186\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nGAAP Operating income\n\n\n\n$\n\n\n\n270\n\n\n\n \n\n\n\...