Vertex Pharmaceutical 4Q Profit Rose on Higher Sales of Trikafta
January 26 2022 - 4:56PM
Dow Jones News
By Jeffrey T. Lewis
Vertex Pharmaceuticals Inc. reported profit increased in the
fourth quarter after sales of its Trikafta cystic fibrosis
medication rose.
The Boston-based pharmaceuticals maker said net income rose to
$770.1 million from $604 million in the same period a year earlier.
Earnings per share reached $3.00 from $2.30 a year earlier and
adjusted earnings per share rose to $3.37 from $2.51. Net product
revenue increased to $2.07 billion in the quarter, from $1.63
billion a year earlier.
Revenue from Trikafta, by far the company's biggest seller, rose
to $1.69 billion from $1.09 billion a year earlier. Revenue from
the company's next-biggest seller in the fourth quarter, Kalydeco,
fell to $152 million from $193 million.
The company reported full-year 2021 product revenue of $7.57
billion, beating its guidance from the third quarter earnings
report of $7.4 billion to $7.5 billion. For 2022, Vertex issued
product revenue guidance of $8.4 billion to $8.6 billion.
Write to Jeffrey T. Lewis at jeffrey.lewis@wsj.com
(END) Dow Jones Newswires
January 26, 2022 16:41 ET (21:41 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Vertex Pharmaceuticals (NASDAQ:VRTX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Vertex Pharmaceuticals (NASDAQ:VRTX)
Historical Stock Chart
From Apr 2023 to Apr 2024