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Vertex Pharmaceuticals Inc VRTX

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Vertex’s CF Portfolio Sees Strong Q3; Gene Editing Data Expected in Fourth-Quarter 2020

Anna Baran Equity Analyst

Analyst Note

| Anna Baran |

Vertex’s third-quarter results outperformed our expectations, with revenue of $1.5 billion representing 62% growth from last year, driven by the incredibly strong launch of Trikafta, the triple combination therapy for cystic fibrosis. The triple combo has launched in Europe as Kaftrio, with reimbursement agreements trickling in. We expect the triple combination therapy to continue driving robust growth for Vertex as reimbursement expands. We are maintaining our $259 per share fair value estimate and our narrow moat rating.

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Company Profile

Business Description

Vertex Pharmaceuticals discovers and develops small-molecule drugs for the treatment of serious diseases. Its key drugs are Kalydeco, Orkambi, Symdeko, and Trikafta for cystic fibrosis, where Vertex therapies remain the standard of care globally. Vertex's pipeline also includes therapies for cancer, pain, inflammatory diseases, influenza, and other rare diseases.

50 Northern Avenue
Boston, MA, 02210
T +1 617 341-6100
Sector Healthcare
Industry Biotechnology
Most Recent Earnings Sep 30, 2020
Fiscal Year End Dec 31, 2020
Stock Type Speculative Growth
Employees 3,000