Vertex Pharmaceuticals Incorporated · NASDAQ:VRTX

Vertex Pharmaceuticals — Q1 2026 Earnings Presentation

19 slides from Vertex Pharmaceuticals's earnings presentation, May 4, 2026

  1. Slide 1: First Quarter 2026 Financial Results

    FIRST QUARTER First Quarter 2025 2026 FINANCIAL Financial Results RESULTS May 4, 2026 Presentation intended for the investment community ©2025 Vertex Pharmaceuticals Incorporated ©2026 Vertex Pharmaceuticals Incorporated ©2026 Vertex Pharmaceuticals Incorporated

  2. Slide 2: Agenda

    Agenda Introduction Susie Lisa, CFA, Senior Vice President, Investor Relations CEO Perspective and Pipeline Update Reshma Kewalramani, M.D., Chief Executive Officer and President Commercial Update Duncan McKechnie, Executive Vice President and Chief Commercial Officer Financial Results Charlie Wagne

  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, the information provided regarding future financial and operating performance, including the st

  4. Slide 4: Strong Q1 performance across the board, with total revenue +8% Y/Y

    Strong Q1 performance across the board, with total revenue +8% Y/Y Cystic Fibrosis portfolio CASGEVY Continuing to expand market Leveraging global ATC network to leadership grow initiations and infusions ALYFTREK > $1B revenue CASGEVY > 500 initiations since launch since launch JOURNAVX Povetacicept

  5. Slide 5: CF: Extending leadership and driving sustained growth

    CF: Extending leadership and driving sustained growth With recent label expansions, ALYFTREK & TRIKAFTA now reach ~95% of all people with CF • Best CFTR protein function, as measured by sweat chloride, plus once-daily dosing ALYFTREK • Expect majority of patients to switch to ALYFTREK from TRIKAFTA

  6. Slide 6: Recently announced Phase 3 IA data cements pove's potential as best-in-class in IgAN

    Recently announced Phase 3 IA data cements pove’s potential as best-in-class in IgAN Completed rolling BLA submission for potential U.S. Accelerated Approval Specifically engineered to RAINIER IA data continue to Differentiated monthly dosing & achieve improved… support potential best-in-class patie

  7. Slide 7: Positive RAINIER Phase 3 interim analysis results demonstrate best-in-class potential at 36 weeks

    Positive RAINIER Phase 3 interim analysis results demonstrate best-in-class potential at just 36 weeks of treatment Povetacicept vs. P value vs. Povetacicept placebo placebo Primary endpoint % change in 24-hr UPCR - 52.0% - 49.8% < 0.0001 Secondary endpoints % change in serum Gd-IgA1 - 77.4% - 79.3%

  8. Slide 8: Continued, rapid progress across renal portfolio, with multiple near-term catalysts

    Continued, rapid progress across renal portfolio, with multiple near-term catalysts PATIENTS1 CURRENT PHASE 2026 ACHIEVEMENTS AND MILESTONES Phase 3 trial ~330K  Completed BLA submission Povetacicept – IgAN enrollment B cell driven (>1.5M globally) complete • Preparing for U.S. launch renal disease

  9. Slide 9: AMKD: Upcoming milestones for inaxaplin in APOL1-mediated kidney disease

    AMKD: Upcoming milestones for inaxaplin in APOL1-mediated kidney disease First potential targeted therapy for patients with AMKD • IA data expected early 2027 (after 48 weeks of treatment); if positive, file for potential accelerated approval in the U.S. Primary AMKD Patients with 2 APOL1 • On track

  10. Slide 10: R&D portfolio is broad, deep, and rapidly advancing

    R&D portfolio is broad, deep, and rapidly advancing Select, Next Wave Phase 1 Phase (1)/2 Pivotal Submitted for Approved Research-stage Programs in Healthy Volunteers (in Patients) Development Accelerated Approval Improved conditioning Follow-on VX-407 Povetacicept Povetacicept CASGEVY – SCD & TDT m

  11. Slide 11: $1B ALYFTREK cumulative revenue milestone achieved

    CF: Q1 global revenue growth of 6%, balanced between U.S. +5% and OUS +8% Y/Y $1B ALYFTREK cumulative revenue milestone achieved • ALYFTREK rollout continues to progress well U.S. • Label expansions for ALY and TRI represent highlights ~800 newly eligible CF patients • Continued uptake in younger pa

  12. Slide 12: CASGEVY: Acceleration continues into 2026+ towards multi-$B potential

    CASGEVY: Acceleration continues into 2026+ towards multi-$B potential Q1:26 CASGEVY revenue $43M • 500 patient initiations since launch • Submitted for ages 5 to <12 with Commissioner’s National Priority Voucher in U.S. • Access agreement reached to provide long term sustainable access for German SC

  13. Slide 13: Pain: JOURNAVX transforming the standard of care for acute pain

    Pain: JOURNAVX transforming the standard of care for the treatment of acute pain Q1:26 JOURNAVX revenue $29M PATIENTS PRESCRIBERS PAYERS >1M ~50K ~240M Cumulative since launch prescriptions prescribers covered lives ~50-50 split Excellent breadth and All 3 national between hospital adoption across m

  14. Slide 14: Nephrology: Building our fourth franchise, starting with povetacicept in IgAN

    Nephrology: Building our fourth franchise, starting with povetacicept in IgAN Providers Payers Patients ~4,000 nephrologists Commercial Patient programs critical treat ~80% Medicaid for chronic therapies, of U.S. IgAN patients Medicare especially biologics Specialty-sized renal field ~70% of IgAN pa

  15. Slide 15: Q1 2026 Financial Highlights

    Q1 2026 Financial Highlights ($ in millions except where noted or per share data and percentages) Q1:25 FY:25 Q1:26 TRIKAFTA/KAFTRIO 2.54B 10.31B 2.35B ALYFTREK 54 838 424 Other CF product revenues 155 645 136 CF product revenues, net 2.74B 11.80B 2.92B CASGEVY 14 116 43 JOURNAVX 1 60 29 Total produ

  16. Slide 16: Reiterate full year 2026 financial guidance

    Reiterate full year 2026 financial guidance Current FY 2026 Commentary Guidance Full year revenue guidance includes expectations for Total Revenue $12.95 - $13.1B continued growth in CF, as well as $500 million or more in revenue from non-CF products. Combined GAAP R&D, Includes expectations for con

  17. Slide 17: Anticipated Key Milestones

    Ma Anticipated Key Milestones Marketed CFTRm • Expand number of people treated: ultra-rare mutations, younger patients, additional geographies; continue ALYFTREK U.S. & ex-U.S. launches TRIKAFTA (CF) • Completed pivotal study for 1 to <2 years; began global regulatory submissions in H1 2026 • Expand

  18. Slide 18: First Quarter 2026 Financial Results

    First Quarter 2026 Financial Results May 4, 2026 Presentation intended for the investment community ©2025 Vertex Pharmaceuticals Incorporated ©2026 Vertex Pharmaceuticals Incorporated ©2026 Vertex Pharmaceuticals Incorporated

  19. Slide 19: Appendix: GAAP to non-GAAP Financial Information

    Appendix GAAP to non-GAAP Financial Information (in millions except per share amounts and percentages) Q1:25 FY:25 Q1:26 Combined R&D, AIPR&D and SG&A GAAP 1.40B 5.80B 1.46B Non-GAAP 1.23B 5.12B 1.29B Operating income GAAP 630 4.17B 1.14B Non-GAAP 1.18B 5.26B 1.31B Operating Margin % GAAP 23% 35% 38

Vertex Pharmaceuticals — Q1 2026 Earnings Presentation on 6ix