Vertex Pharmaceuticals raised its full-year revenue forecast Monday after third-quarter sales increased 12% from a year earlier.
The Boston-based biotechnology company reported $3.44 billion in total revenue for the quarter ended Sept. 30. It lifted its 2026 revenue guidance to a range of $13.15 billion to $13.25 billion, from $13.1 billion to $13.2 billion.
U.S. revenue rose 10% to $2.17 billion, driven by continued demand for cystic-fibrosis medicines and contributions from newer products. Revenue outside the United States increased 16% to $1.27 billion.
Vertex said its outlook includes combined 2026 revenue of at least $500 million from Casgevy, a gene-editing treatment for certain blood disorders, and Journavx, its nonopioid pain medicine. The forecast also includes $40 million to $50 million from Palsonify after the company completed its acquisition of Crinetics Pharmaceuticals.
The company reported GAAP net income of $654 million, down from $1.1 billion a year earlier. Vertex attributed much of the decline to costs tied to the Crinetics transaction. Non-GAAP net income was $1.2 billion, unchanged from the prior-year quarter.
Adjusted earnings were $4.76 per share, slightly below an analyst estimate of $4.78 cited by Investor’s Business Daily. Revenue was modestly above that outlet’s reported $3.42 billion expectation.
Vertex ended the quarter with $9.8 billion in cash, cash equivalents and marketable securities, down from $12.3 billion at the end of 2025. The company cited the acquisition, share repurchases and related financing activity.
Vertex also pointed to a Nov. 30 regulatory decision date for povetacicept, an investigational treatment for IgA nephropathy. That product remains subject to Food and Drug Administration review.
Sources: - Vertex Pharmaceuticals, “Vertex Reports Third Quarter 2026 Financial Results,” Nov. 2, 2026 - Investor’s Business Daily, “Vertex Yo-Yos on Mixed Third-Quarter Report, Light Guidance Hike,” Nov. 2, 2026