Vertex Pharmaceuticals reported Q2 2024 product revenues of $2.65 billion, up 6% YoY, driven by strong TRIKAFTA/KAFTRIO performance. The company raised its full-year 2024 product revenue guidance to $10.65-$10.85 billion. Combined GAAP R&D and SG&A expenses were $1.3 billion, while acquired IPR&D expenses reached $4.4 billion due to the Alpine Immune Sciences acquisition.The FDA granted Priority Review for two key products: the vanzacaftor triple combination therapy for cystic fibrosis with a PDUFA date of January 2, 2025, and suzetrigine for moderate-to-severe acute pain with a PDUFA date of January 30, 2025. The company has also received validation of vanzacaftor triple MAA submissions in the EU and UK.Vertex continues to advance its broad pipeline, including CASGEVY launches for SCD and TDT with over 35 authorized treatment centers activated globally. The company reported strong cash position of $10.2 billion as of June 30, 2024, despite the Alpine acquisition impact. Multiple clinical milestones are expected in H2 2024 across various programs including pain, kidney diseases, and type 1 diabetes.

Vertex Pharmaceuticals reported Q2 2024 product revenues of $2.65 billion, up 6% YoY, driven by strong TRIKAFTA/KAFTRIO performance. The company raised its full-year 2024 product revenue guidance to $10.65-$10.85 billion. Combined GAAP R&D and SG&A expenses were $1.3 billion, while acquired IPR&D expenses reached $4.4 billion due to the Alpine Immune Sciences acquisition.The FDA granted Priority Review for two key products: the vanzacaftor triple combination therapy for cystic fibrosis with a PDUFA date of January 2, 2025, and suzetrigine for moderate-to-severe acute pain with a PDUFA date of January 30, 2025. The company has also received validation of vanzacaftor triple MAA submissions in the EU and UK.Vertex continues to advance its broad pipeline, including CASGEVY launches for SCD and TDT with over 35 authorized treatment centers activated globally. The company reported strong cash position of $10.2 billion as of June 30, 2024, despite the Alpine acquisition impact. Multiple clinical milestones are expected in H2 2024 across various programs including pain, kidney diseases, and type 1 diabetes.