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&D costs are also expected to remain elevated as multiple ongoing clinical trials.
Get started on the Smartkarma Research Network with a complimentary Preview Pass to:
Unlock all research summaries
Follow top, independent analysts
Receive personalised alerts and emails
Access Briefings, Analytics, and Events
Upgrade anytime to our paid plans for full-length research, real-time analyst discussions, and more.
Join a thriving community of 45,000+ investors, including the top global asset managers managing over $13trn in assets.