Press release
Vertex Reports Third-Quarter 2021 Financial Results
-Product revenues of $1.98 billion, a 29% increase compared to Q3 2020- -Company raises full-year 2021 guidance for product revenues to $7.4 to $7.5 billion-
About this update from Vertex Pharmaceuticals Incorporated
[{"type":"text","content":"\n-Product revenues of $1.98 billion, a 29% increase compared to Q3 2020-\n\n-Company raises full-year 2021 guidance for product revenues to $7.4 to $7.5 billion-\n\n-Broad pipeline advancing with recent progress marked by unprecedented VX-880 clinical results in T1D; Phase 2 clinical results for VX-147 expected this quarter and for VX-548 in Q1 2022-\n\n BOSTON--(BUSINESS WIRE)--\nVertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the third quarter ended September 30, 2021 and raised full-year 2021 product revenue guidance to $7.4 to $7.5 billion.\n\n\"Our financial performance in the third quarter was outstanding, marked by the exceptional continued growth of TRIKAFTA/KAFTRIO. Based on these results, we are again raising our 2021 product revenue guidance, and we see significant additional growth ahead as we continue to deliver this transformational medicine to more people with CF,\" said Reshma Kewalramani, M.D., Chief Executive Officer and President of Vertex. \"During the last quarter, we also significantly expanded and advanced our pipeline. We announced unprecedented data from the first type 1 diabetes patient dosed with our stem cell-derived, allogeneic islet cells (VX-880). We completed enrollment in the Phase 2 proof-of-concept study of VX-147 in APOL1-mediated FSGS and will report results later this quarter. We also achieved target enrollment in both pivotal CTX001 studies to support our regulatory submissions next year. Finally, we made important advancements in our earlier stage pipeline and expect to submit INDs for both our CF mRNA program and type 1 diabetes cells and device program in 2022.\"\n\nThird-Quarter 2021 Financial Highlights\n\n\n\n \n\n\n\nThree Months Ended September 30,\n\n\n\n \n\n\n\n%\n\n\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\nChange\n\n\n\n\n\n \n\n\n\n(in millions, except per share amounts)\n\n\n\n\n\nProduct revenues, net\n\n\n\n$\n\n\n\n1,984\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1,536\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n29%\n\n\n\n\n\nTRIKAFTA/KAFTRIO\n\n\n\n$\n\n\n\n1,556\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n960\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nSYMDEKO/SYMKEVI\n\n\n\n$\n\n\n\n81\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n156\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nORKAMBI\n\n\n\n$\n\n\n\n185\n\...