Vertex Pharmaceuticals Bumps Up Fiscal Year Outlook on Growth of Cystic Fibrosis Drugs

By Kelly Cloonan

Vertex Pharmaceuticals raised its guidance for the year as it expects sales growth for its cystic fibrosis therapies to continue.

The biotechnology company said Monday it now expects revenue of $13.1 billion to $13.2 billion for the year, up from a prior forecast of $12.95 billion to $13.1 billion.

The company said it expects continued growth for its cystic fibrosis treatments, including further uptake of its Alyftrek and Trikafta drugs. It continues to forecast $500 million or more in revenue this year from other products in its portfolio, like its sickle cell disease treatment Casgevy and painkiller Journavx.

The raised outlook comes as Vertex recorded higher sales in its latest quarter, up 12% from a year ago and beating Wall Street's expectations, with the company citing strength for its cystic fibrosis therapies as well as growth from its efforts to diversify into additional disease areas.

The company recently made further moves to expand its portfolio, disclosing plans to purchase Crinetics Pharmaceuticals for $10 billion. The deal, which is expected to close in the third quarter, would add a biopharmaceutical company that specializes in treatments for endocrine diseases.

Chief Executive Reshma Kewalramani said the addition of rare endocrine diseases would mark the fifth pillar of Vertex's portfolio, which already includes treatments for cystic fibrosis, sickle cell disease, beta thalassemia and acute pain.

Vertex's second-quarter revenue rose to $3.33 billion, topping analyst estimates of $3.23 billion, according to FactSet.

In the U.S., revenue rose 11% to $2.06 billion. Internationally, revenue climbed 14% to $1.28 billion.

Vertex's quarterly profit came in at $1.1 billion, or $4.31 a share, compared with $1.03 billion, or $3.99 a share, a year earlier.

Adjusted earnings per share were $4.73, compared with estimates of $4.74 a share according to analysts polled by FactSet.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

August 03, 2026 17:00 ET (21:00 GMT)