bullish
Vertex Pharmaceuticals (VRTX US): Trikafta Drove Q1 Results; 2022 Revenue Guidance Maintained
477 Views06 May 2022 18:45
SUMMARY
- 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&D and SG&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&D and SG&A. This may pressurize near-term profitability of the company.
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Tina Banerjee
Global Healthcare Analyst
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