Press release
Vertex Reports Second Quarter 2022 Financial Results
— Product revenues of $2.20 billion, a 22% increase compared to Q2 2021 — — Company raises full year 2022 product revenue guidance to $8.6 to $8.8 billion —
About this update from Vertex Pharmaceuticals Incorporated
[{"type":"text","content":"\n— Product revenues of $2.20 billion, a 22% increase compared to Q2 2021 —\n\n— Company raises full year 2022 product revenue guidance to $8.6 to $8.8 billion —\n\n— Recent exa-cel and VX-880 clinical data presentations demonstrate transformative potential for patients with sickle cell disease, beta thalassemia and type 1 diabetes—\n\n— Multiple clinical programs entering or progressing through late-stage clinical development—\n\n BOSTON--(BUSINESS WIRE)--\nVertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the second quarter ended June 30, 2022 and updated its full year 2022 financial guidance.\n\n“With sustained and growing leadership in CF, programs in five disease areas now entering or progressing through late-stage clinical development and the next wave of innovation beginning to enter the clinic later this year, Vertex has reached a new inflection point,” said Reshma Kewalramani, M.D., Chief Executive Officer and President of Vertex. “As we reach more CF patients, we are poised to deliver significant, durable financial returns for years to come. In parallel, we are advancing a broad and deep clinical pipeline of potentially transformative medicines across multiple serious diseases, spanning small molecules, cell and genetic therapies, and we expect this diversified portfolio of medicines will serve many more patients and drive substantial growth in the future.”\n\nSecond Quarter 2022 Financial Highlights\n\n\n\n \n\n\n\nThree Months Ended June 30,\n\n\n\n \n\n\n\n%\n\n\n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\nChange\n\n\n\n\n\n \n\n\n\n(in millions, except per share amounts)\n\n\n\n\n\nProduct revenues, net\n\n\n\n$\n\n\n\n2,196\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1,793\n\n\n\n \n\n\n\n \n\n\n\n22\n\n\n\n%\n\n\n\n\n\nTRIKAFTA/KAFTRIO\n\n\n\n$\n\n\n\n1,893\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1,256\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nSYMDEKO/SYMKEVI\n\n\n\n$\n\n\n\n43\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n134\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nORKAMBI\n\n\n\n$\n\n\n\n122\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n221\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nKALYDECO\n\n\n\n$\n\n\n\n139\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n183\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 (loss)\...