Vertex Pharmaceuticals Incorporated · NASDAQ:VRTX

Vertex Pharmaceuticals — FY2018 Earnings Presentation

13 slides from Vertex Pharmaceuticals's earnings presentation, Feb 5, 2019

  1. Slide 1: Full-Year and Fourth-Quarter 2018 Financial Results

    Full-Year and Fourth-Quarter 2018 Financial Results February 5, 2019 ©2019 Vertex Pharmaceuticals Incorporated

  2. Slide 2: Agenda

    Agenda Introduction Michael Partridge, Senior Vice President, Investor Relations Business Highlights Jeff Leiden, M.D., Ph.D., Chairman, President and Chief Executive Officer Commercial Update Stuart Arbuckle, Executive Vice President and Chief Commercial Officer Financial Results Paul Silva, Senior

  3. Slide 3: Safe Harbor Statement & Non-GAAP Financial Measures

    Safe Harbor Statement & Non-GAAP Financial Measures This presentation contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, (i) information pertaining to our medicines and the ongoing discovery, development and commerci

  4. Slide 4: Vertex Strategy and Business Model

    Vertex Strategy and Business Model A Blueprint for Serial Innovation CORPORATE STRATEGY DIFFERENTIATED Vertex invests in scientific innovation to create BUSINESS MODEL transformative medicines for people with serious diseases with a focus on specialty markets Investment of majority of OpEX in R&D an

  5. Slide 5: 2018 Achievements and 2019 Milestones

    2018 Achievements and 2019 Milestones 2018 2019 Phase 3 data for VX-445 in patients ages 12+ Phase 2 data for triple combinations in CF patients Submit NDA for a triple combination regimen no later ACHIEVE Initiation of pivotal development of up to two triple than mid-2019 combination regimens OUR U

  6. Slide 6: Triple Combination Regimens Have Potential to Treat Up to 90% of CF Patients

    Triple Combination Regimens Have Potential to Treat Up to 90% of CF Patients TRIPLE COMBINATION REGIMEN 68,000 à 75,000 NEW PATIENTS Gene Editing mRNA 44,000 à 68,000 ENHANCED EFFICACY Potential to treat all people with CF 39,000 à 44,000 F508del / Minimal 39,000 Patients CFTR Function Currently Eli

  7. Slide 7: Beyond CF

    Beyond CF Multiple Opportunities for Transformative Medicines Alpha-1 Antitrypsin Pain Deficiency First selective NaV1.8 inhibitor First molecule advanced into clinical (VX-150) to demonstrate proof-of- development in December 2018; concept in acute, inflammatory and Multiple additional molecules in

  8. Slide 8: CF Revenue Growth to Continue in 2019 and Beyond

    CF Revenue Growth to Continue in 2019 and Beyond With a triple combination The increase from ~39,000 regimen, VRTX has the to ~44,000 patients will be potential to increase Of ~39,000 patients based on treating younger treatment from ~44,000 to currently eligible for an patients and label ~68,000 pa

  9. Slide 9: Full-Year and Q4 2018 Financial Highlights

    Full-Year and Q4 2018 Financial Highlights FY FY ($ in millions except per share data and percentages) 2017 2018 Q1 18 Q2 18 Q3 18 Q4 18 Total CF product revenues $2.17B $3.04B $638 $750 $783 $868 KALYDECO 845 1.01B 250 253 246 259 ORKAMBI 1.32B 1.26B 354 311 282 315 SYMDEKO 769 34 186 255 294 Combi

  10. Slide 10: Significant Growth in Revenue Driving Operating Income Expansion

    Significant Growth in Revenue Driving Operating Income Expansion 4 Non-GAAP Operating Income 3.5 3 Total CF Revenues 2.5 Billions ($) Combined non-GAAP R&D & SG&A Expenses ~$1.35B 2 $1.11B 1.5 $564M $288M 1 -$176M 0.5 0 2015A 2016A 2017A 2018A 2019P 2015A 2016A 2017A 2018A 2019G Notes • 2019 Total C

  11. Slide 11: 2019 Financial Guidance

    2019 Financial Guidance FY 2018 FY 2019 FY 2019 Guidance Actuals Guidance Commentary Revenue guidance primarily based on the full year impact of: • SYMDEKO and SYMKEVI launch Total CF Product Revenues $3.04B $3.45 - $3.55B • Label expansions for approved CF medicines • Reimbursement agreements achie

  12. Slide 12: Full-Year and Fourth-Quarter 2018 Financial Results

    Full-Year and Fourth-Quarter 2018 Financial Results February 5, 2019 ©2019 Vertex Pharmaceuticals Incorporated

  13. Slide 13: Appendix: Reconciliation of GAAP to non-GAAP Financial Information

    Appendix Reconciliation of GAAP to non-GAAP Financial Information Q4 FY Q1 Q2 Q3 Q4 FY 2017 2017 2018 2018 2018 2018 2018 GAAP total revenues $652 $2,489 $641 $752 $785 $870 $3,048 Non-GAAP total revenues $623 $2,174 $639 $751 $784 $869 $3,043 GAAP operating income 126 123 129 173 206 128 635 Stock

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