Vertex ups guidance again as results exceed estimates
US biopharma Vertex Pharmaceuticals (Nasdaq: VRTX) was trading nearly 2% higher during pre-market trading on Tuesday. This followed Vertex’ presentation of its third-quarter financial results and latest outlook for 2024 as a whole.
Product revenue rose by 12% compared to the same period of 2023, to $2.77 billion, beating the $2.68 billion expected by analysts, according to FactSet.
The growth was primarily driven by the continued strong performance of Trikafta/Kaftrio (elexacaftor/tezacaftor/ivacaftor), a fixed-dose combination medication used to treat cystic fibrosis. Its sales grew by 14% during the quarter, at nearly $2.59 billion.
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