Vertex Pharmaceuticals lifts revenue outlook on strong cystic fibrosis drug sales

Vertex Pharmaceuticals raised the upper end of its annual revenue forecast to between $13.1 billion and $13.2 billion, citing robust demand for its cystic fibrosis treatments. The outlook excludes the pending $10 billion acquisition of Crinetics and will be updated after the deal closes in the third quarter.

In the second quarter, the new once‑daily triple‑combination therapy Alyftrek generated $573.6 million in sales, up sharply from $156.8 million a year earlier. The older combination therapy Trikafta posted $2.50 billion in sales, missing analysts’ estimate of $2.65 billion. Total quarterly revenue rose 12% to $3.33 billion, beating expectations, and adjusted earnings were $4.73 per share.