Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Vertex Pharmaceuticals / Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/vertex-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:4864:1" rel="noopener">Vertex Pharmaceuticals (VRTX US)</a> reported 18% y/y revenue growth to $2.3 billion, led by 46% growth outside the U.S. on continued strong uptake of Trikafta. U.S. revenue grew 5% y/y.</li>
<li>The company raised full-year 2022 product revenue guidance by 2% at the mid-point to $8.8–8.9 billion, representing 17% y/y growth at the mid-point.</li>
<li>The company will submit biologics licensing application (BLA) for exa-cel to the FDA, beginning in November 2022 and expects to complete the submission by the end of Q1 2023.</li>
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Vertex Pharmaceuticals (VRTX US) reported 18% y/y revenue growth to $2.3 billion, led by 46% growth outside the U.S. on continued strong uptake of Trikafta. U.S. revenue grew 5% y/y.
The company raised full-year 2022 product revenue guidance by 2% at the mid-point to $8.8–8.9 billion, representing 17% y/y growth at the mid-point.
The company will submit biologics licensing application (BLA) for exa-cel to the FDA, beginning in November 2022 and expects to complete the submission by the end of Q1 2023.


Vertex Pharmaceuticals (VRTX US): Better-Than-Expected Q3 Result; Guidance Raised 2nd Time This Year

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Capital Markets

Vertex Pharmaceuticals / Equity Capital Markets

<ul><li>Vertex Pharmaceuticals saw a strong quarter as its CF product revenues increased 22% year over year to $2.2 billion thanks to the steady adoption of Trikafta in the United States and throughout the international market.</li><li>The company delivered an all-around beat and is making great strides toward reaching all CF patients who qualify for its medications.</li><li>Moreover, they continue to pursue external innovation that supports or expedites their internal initiatives by using their solid financial sheet.</li></ul>

Vertex Pharmaceuticals saw a strong quarter as its CF product revenues increased 22% year over year to $2.2 billion thanks to the steady adoption of Trikafta in the United States and throughout the international market.The company delivered an all-around beat and is making great strides toward reaching all CF patients who qualify for its medications.Moreover, they continue to pursue external innovation that supports or expedites their internal initiatives by using their solid financial sheet.

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<a href="https://www.smartkarma.com/entities/vertex-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:4864:1" rel="noopener">Vertex Pharmaceuticals (VRTX US)</a> reported strong Q2 results, with both revenue and adjusted EPS surpassing consensus. Flagship drug, Trikafta reported 51% y/y revenue growth and contributed 86% of revenue.</li>
<li>Vertex estimates more than 25K CF patients that are addressable with its Trikafta are still untreated, thereby providing sustainable growth opportunities. No immediate competition is seen.</li>
<li>The company lifted 2022 product revenue guidance by 2% at the mid-point to $8.6–8.8 billion. R&amp;D costs are also expected to remain elevated as multiple ongoing clinical trials.</li>
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Vertex Pharmaceuticals (VRTX US) reported strong Q2 results, with both revenue and adjusted EPS surpassing consensus. Flagship drug, Trikafta reported 51% y/y revenue growth and contributed 86% of revenue.
Vertex estimates more than 25K CF patients that are addressable with its Trikafta are still untreated, thereby providing sustainable growth opportunities. No immediate competition is seen.
The company lifted 2022 product revenue guidance by 2% at the mid-point to $8.6–8.8 billion. R&amp;D costs are also expected to remain elevated as multiple ongoing clinical trials.


Vertex Pharmaceuticals (VRTX US): Beat-And-Raise Q2 Results Driven by Strong Uptake of Trikafta

<ul><li>This is our first report on the global market leader in cystic fibrosis, Vertex Pharmaceuticals.</li><li>Among recent updates, Vertex announced PRIME (Priority Medicine) designation by the EMA and VX-147 (Inaxaplin) granted breakthrough therapy designation through the U.S.</li><li>FDA.</li></ul>

This is our first report on the global market leader in cystic fibrosis, Vertex Pharmaceuticals.Among recent updates, Vertex announced PRIME (Priority Medicine) designation by the EMA and VX-147 (Inaxaplin) granted breakthrough therapy designation through the U.S.FDA.

Vertex Pharmaceuticals Incorporated: Initiation of Coverage – Capacity Expansion & Pipeline Progress

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<li>
<a href="https://www.smartkarma.com/entities/vertex-pharmaceuticals-inc" target="_blank" data-smartkarma-citation="entities:4864:1" rel="noopener">Vertex Pharmaceuticals (VRTX US)</a> reported Q1 revenue of $2.10 billion, a 22% y/y increase, reflecting continued growth in the number of cystic fibrosis (CF) patients treated globally.</li>
<li>Vertex reiterated full year 2022 product revenue guidance of $8.4–8.6 billion. However, the company raised 2022 adjusted R&amp;D and SG&amp;A expenses by 5% at mid-point.</li>
<li>The company has a broad pipeline beyond CF and the pipeline progress calls for continued investment for R&amp;D and SG&amp;A. This may pressurize near-term profitability of the company.</li>
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Vertex Pharmaceuticals (VRTX US) reported Q1 revenue of $2.10 billion, a 22% y/y increase, reflecting continued growth in the number of cystic fibrosis (CF) patients treated globally.
Vertex reiterated full year 2022 product revenue guidance of $8.4–8.6 billion. However, the company raised 2022 adjusted R&amp;D and SG&amp;A expenses by 5% at mid-point.
The company has a broad pipeline beyond CF and the pipeline progress calls for continued investment for R&amp;D and SG&amp;A. This may pressurize near-term profitability of the company.


Vertex Pharmaceuticals (VRTX US): Trikafta Drove Q1 Results; 2022 Revenue Guidance Maintained

United States

Vertex Pharmaceuticals Incorporated discovers, develops, and commercializes pharmaceutical products. The Company develops drugs for the treatment of cystic fibrosis, cancer, inflammatory bowel, autoimmune disease, and neurological disorders. Vertex Pharmaceuticals serves healthcare sector worldwide.

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Vertex Pharmaceuticals (VRTX UW)

Vertex Pharmaceuticals (VRTX US): Better-Than-Expected Q3 Result; Guidance Raised 2nd Time This Year

Vertex reported 18% and 14%, y/y, growth in revenue and adjusted EPS, respectively in Q3. Both were ahead of expectations. The company has raised...

Tina Banerjee

Vertex Pharmaceuticals: Major Drivers

Vertex Pharmaceuticals saw a strong quarter as its CF product revenues increased 22% year over year to $2.2 billion thanks to the steady adoption...

Baptista Research

Vertex Pharmaceuticals (VRTX US): Beat-And-Raise Q2 Results Driven by Strong Uptake of Trikafta

Vertex’s strong Q2 results and 2022 guidance raise enhance our conviction on its CF leadership position. The company is also advancing its pipeline...

Tina Banerjee

Vertex Pharmaceuticals Incorporated: Initiation of Coverage – Capacity Expansion & Pipeline Progress

This is our first report on the global market leader in cystic fibrosis, Vertex Pharmaceuticals. Among recent updates, Vertex announced PRIME...

Baptista Research

Vertex Pharmaceuticals (VRTX US): Trikafta Drove Q1 Results; 2022 Revenue Guidance Maintained

Vertex reported double-digit revenue and EPS growth in Q1 2022. The company reiterated 2022 product revenue growth guidance of 12% and raised R&D...

Tina Banerjee

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