(Reuters) – Vertex Pharmaceuticals forecast annual revenue largely above Wall Street estimates on Monday, banking on robust sales of its cystic fibrosis drugs and early contributions from a newly approved non-opioid painkiller.
The drugmaker is looking to its acute pain drug, Journavx, to drive growth beyond its established line of cystic fibrosis treatments. Vertex expects to begin shipping Journavx to pharmacies in the U.S. by the end of February.
The U.S. Food and Drug Administration, in December, also approved Vertex’s once-daily next-generation treatment, Alyftrek, for a rare and progressive genetic disease, expanding its market dominance in cystic fibrosis (CF) treatments.
CF is an inherited disorder caused by a lack of a specific protein that results in poor flow of salt and water flow in and out of cells in various organs.
For the fourth quarter, ended December 31, sales of company’s older CF treatment Trikafta rose nearly 17% to $2.72 billion.
The company aims to launch five new treatments by 2028, which include a next-generation CF drug and a non-opioid pain management medication.
In December, Vertex entered into an agreement with the Centers for Medicare & Medicaid Services to help increase patient access to its gene therapy, Casgevy, which treats a rare blood disorder requiring regular blood transfusions.
The Boston, Massachusetts-based drugmaker developed Casgevy with Swiss-American firm CRISPR Therapeutics.
Vertex sees 2025 revenue of $11.75 billion to $12.0 billion, the midpoint of which is above analysts’ average expectation of $11.84 billion, according to data compiled by LSEG.
Revenue for the company’s fourth quarter rose nearly 16% to $2.91 billion, beating analysts’ estimates of $2.78 billion.
On an adjusted basis, the company reported a profit of $3.98 per share for the reported quarter, compared to analysts’ expectations of a profit per share of $4.03.
(Reporting by Sriparna Roy and Christy Santhosh in Bengaluru; Editing by Mohammed Safi Shamsi)
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