What is Vertex Pharmaceuticals's latest dividend and current dividend yield?

What is the revenue and EPS growth rate for Vertex Pharmaceuticals year over year?

What does Vertex Pharmaceuticals do and what are its main business segments?

What is the market's earnings forecast for Vertex Pharmaceuticals next quarter?

What is Vertex Pharmaceuticals's gross profit margin?

What factors drove the changes in Vertex Pharmaceuticals's revenue and profit?

What were the key takeaways from Vertex Pharmaceuticals’s earnings call?

What guidance did Vertex Pharmaceuticals's management provide for the next earnings period?

- **Revenue Growth**: 10% Q4 and 9% full-year growth, driven by CF and new products.
- **ALYFTREK Breakthrough**: 65% of young CF patients achieved normal sweat chloride levels.
- **Pove Potential**: Phase III interim analysis expected in 2026 with 56% proteinuria reduction in Phase II.
- **JOURNAVX Momentum**: 76% opioid-free surgical patients, prescriptions to triple in 2026.
- **2026 Outlook**: $12.95-13.1B revenue target, >$500M non-CF contribution.

**【CEO Summary Section】**
- Vertex reported 10% Q4 and 9% full-year 2025 revenue growth, driven by cystic fibrosis (CF) franchise strength and new product launches.
- ALYFTREK achieved 65% of 2-5 year-old CF patients reaching sweat chloride levels below 30 mmol/L, surpassing TRIKAFTA's 37.5% baseline.
- Povetacicept (pove) IgA nephropathy Phase III interim analysis expected in 2026, with 56% proteinuria reduction in Phase II.
- JOURNAVX prescriptions grew 3x YoY, with 76% of patients opioid-free in surgical studies.
- 2026 priorities include ALYFTREK global expansion, CASGEVY infusions ramp-up, and renal franchise launch preparation.

**【CFO Financial Commentary】**
- Q4 2025 revenue: $3.2B (10% YoY), full year: $12B (9% YoY).
- CF revenue: $10.2B (87% of total), CASGEVY: $116M, JOURNAVX: $60M.
- 2026 guidance: $12.95-13.1B revenue (8-9% growth), non-CF contribution >$500M.
- Gross margin: 85.7% (Q4 2025), operating expenses: $5.1B (2025), 2026 forecast: $5.65-5.75B.

**【Q&A Key Highlights】**
- **Pove Safety**: No serious infections despite IgG reductions, Phase III interim analysis expected H2 2026.
- **ALYFTREK Dynamics**: 65% of 2-5 year-olds achieved normal sweat chloride, Europe reimbursement secured for 1,500 new patients.
- **Non-CF Growth**: CASGEVY infusions ramping, JOURNAVX prescriptions tripling YoY with 35,000+ prescribers.
- **Renal Pipeline**: Pove Phase III membranous nephropathy study enrolling, VX-407 ADPKD Phase II ongoing.
- **Financial Confidence**: 2026 guidance reflects visibility into CASGEVY infusions and JOURNAVX revenue conversion.

Vertex Pharmaceuticals Incorporated (VRTX) Q4 2025 Earnings Call Transcript

- **Revenue Growth**: Q3 2025 revenue $3.08B (+11% YoY), driven by CFTR modulators, ALYFTREK, CASGEVY, and JOURNAVX.
- **CF Breakthroughs**: ALYFTREK covers 95% U.S. CF patients, 50%+ achieve normal sweat chloride. TRIKAFTA 1-2 year-olds show 70% sweat chloride normalization.
- **Pain Innovation**: JOURNAVX reduces opioid use by 90%, CASGEVY nearing $100M annual revenue.
- **Kidney Pipeline**: Pove (IgAN) Phase III interim analysis complete, FDA breakthrough designation granted. Inaxaplin Phase III interim analysis underway.
- **Financial Strength**: Non-GAAP EPS $4.80 (+10% YoY). $12B cash balance, $1.1B Q3 share buybacks.
- **Strategic Expansion**: Building commercial infrastructure for renal portfolio, targeting 150,000+ IgAN patients.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 2025 revenue of $3.08 billion, up 11% YoY, driven by CF franchise expansion, ALYFTREK and TRIKAFTA launches, CASGEVY momentum, and JOURNAVX contributions.
- **CF Portfolio**: ALYFTREK now covers 95% of U.S. CF patients, with 50%+ achieving normal sweat chloride levels. TRIKAFTA 1-2 year-old study shows 70% sweat chloride normalization. VX-828 Phase III underway, targeting even higher efficacy.
- **Pain Franchise**: JOURNAVX prescriptions exceed 300,000, reducing opioid use by 90% in aesthetic surgeries. CASGEVY nearing $100M annual revenue, with 39 patients treated globally.
- **Kidney Pipeline**: Pove (IgAN) Phase III interim analysis complete, FDA breakthrough designation granted. Inaxaplin (APOL1-mediated kidney disease) Phase III interim analysis underway. VX-407 (ADPKD) Phase II proof-of-concept study initiated.
- **Strategic Expansion**: Building commercial infrastructure for renal portfolio, targeting 150,000+ IgAN patients in U.S./Europe. Patient support program extended for JOURNAVX through 2026.

**【CFO Financial Commentary】**
- **Revenue Breakdown**: U.S. revenue +15% YoY, driven by CFTR modulators and ALYFTREK. Non-U.S. revenue +4% YoY, CASGEVY contributing $17M, JOURNAVX $20M.
- **Expenses**: Operating expenses $1.28B (19% YoY growth), driven by pove development and JOURNAVX commercialization. R&D/IPR&D expenses $55M vs. $15M YoY.
- **Profitability**: Non-GAAP EPS $4.80 (10% YoY growth). Cash balance $12B, with $1.1B share buybacks in Q3.
- **Guidance Update**: 2025 revenue $11.9-12B (8-9% growth). Operating expenses $5-5.1B, reflecting pove acceleration. Tax rate revised to 17-18% due to Alpine-related credits.

**【Q&A Highlights】**
- **ALYFTREK Uptake**: 95% of U.S. CF patients now eligible, with 50%+ achieving normal sweat chloride. Europe launch strong, 10x more rare mutation patients than U.S.
- **Pove Differentiation**: Dual BAFF/APRIL inhibition, subcutaneous auto-injector, and tissue-penetrating design. Phase II data shows significant proteinuria reduction, Gd-IgA1 normalization.
- **JOURNAVX Access**: 170M lives covered, 113M unrestricted. Third PBM negotiations ongoing. Patient support program ensures access for 300,000+ prescriptions.
- **Capital Allocation**: Prioritize R&D and commercialization, with $1.9B spent on buybacks YTD. Open to strategic acquisitions aligning with renal and pain franchises.
- **CASGEVY Safety**: Adverse events reported through clinical trials and commercial use, with preconditioning regimen and gene editing data disclosed per regulatory requirements.

Vertex Pharmaceuticals Incorporated (VRTX) Q3 2025 Earnings Call Transcript

- **Revenue Growth**: Q2 2025 revenue of $2.96B (+12% YoY) driven by ALYFTREK, CASGEVY, and JOURNAVX launches.
- **New Product Success**: JOURNAVX achieved 110K prescriptions in 5 months; CASGEVY treated 29 patients globally.
- **Pipeline Progress**: VX-828 (CF) on track for Q4 2025 initiation; suzetrigine DPN Phase III enrollment to complete by end-2026.
- **Financial Strength**: Non-GAAP EPS of $4.52, $12B cash, and $4B share buyback program announced.
- **Strategic Moves**: CSO transition to Mark Bunnage in Feb 2026; increased investment in JOURNAVX commercialization.

**【CEO Summary Section】**
- Vertex reported Q2 2025 revenue of $2.96 billion, up 12% YoY, driven by strong performance across CF, CASGEVY, and JOURNAVX launches.
- New product launches: ALYFTREK (CF) and JOURNAVX (acute pain) are gaining traction, with ALYFTREK expected to transition the majority of TRIKAFTA patients over time.
- CASGEVY global momentum: 29 patients treated in Q2, with 75 ATCs operational globally.
- R&D pipeline updates: VX-828 (CF) on track for Q4 2025 cohort initiation; suzetrigine DPN Phase III enrollment expected to complete by end-2026.
- Strategic leadership transition: CSO David Altshuler retiring in Aug 2026, replaced by Mark Bunnage starting Feb 2026.

**【CFO Financial Commentary】**
- Q2 2025 non-GAAP EPS: $4.52 (vs. -$12.83 in Q2 2024), driven by higher revenue and disciplined expenses.
- Revenue breakdown: U.S. +14% YoY, ex-U.S. +8% YoY; CASGEVY contributed $30M, JOURNAVX $12M.
- Operating expenses: $1.24B (excl. Alpine IPR&D), up 24% YoY due to pipeline advancement and commercial build-out.
- Cash position: $12B, with $395M share buybacks in Q2; $4B new repurchase program announced.
- 2025 guidance: Revenue $11.85B-$12B (8% midpoint growth), R&D/SG&A $4.9B-$5B.

**【Q&A Key Highlights】**
- **JOURNAVX Commercial Momentum**: 110K prescriptions filled by mid-July, 65% retail, 35% hospital; 150M lives covered (84M unrestricted).
- **VX-993 Phase II Results**: Did not meet primary endpoint in acute pain, but data supports focus on chronic pain (DPN) and combination therapies.
- **Suzetrigine DPN Trials**: Both Phase III studies expected to complete enrollment by end-2026; FDA alignment on DPN pathway.
- **Gross to Net**: Elevated in early launch, expected to normalize as payer coverage expands.
- **CASGEVY Cycle Time**: 4-5 months from cell collection to infusion; potential for acceleration as process matures.
- **NOPAIN Act**: JOURNAVX likely to be added to final 2026 list after clarification of postsurgical indication.

Vertex Pharmaceuticals Incorporated (VRTX) Q2 2025 Earnings Call Transcript

- **Revenue growth accelerates**: Q1 2025 revenue $2.77B (+3% YoY), with U.S. up 9% driven by ALYFTREK and TRIKAFTA. 2025 guidance raised to $11.85B-$12B.
- **Breakthrough launches**: ALYFTREK targets 95% of CF patients; JOURNAVX achieves 20,000+ prescriptions in 2 months; CASGEVY treats 8 patients globally.
- **Pipeline dominance**: 5 Phase III programs (diabetic neuropathy, IgA nephropathy, kidney diseases) set for 2026 filings; Alpine acquisition program expands to 2 indications.
- **Risks contained**: Russia counterfeit impact ($200M annualized) fully baked into guidance; VX-522 trial paused for safety review.

**【CEO & Management Overview】**
- Q1 2025 revenue: $2.77 billion (+3% YoY), driven by U.S. demand and ALYFTREK launch. Ex-U.S. revenue down 5% YoY due to Russia counterfeit impact.
- Key launches: ALYFTREK (CF) and JOURNAVX (acute pain) approved in Q1, with CASGEVY (gene therapy) expanding globally.
- Pipeline momentum: 4 Phase III programs (diabetic neuropathy, type 1 diabetes, kidney diseases) on track for 2026 filings. Alpine acquisition program (povetacip) advancing in IgA nephropathy and membranous nephropathy.

**【Commercial Updates】**
- **ALYFTREK (CF):** U.S. prescriptions strong, targeting 95% of CF patients. Early uptake in naive patients, switchers from TRIKAFTA, and rare mutation patients. Global launches expected in H2 2025.
- **CASGEVY (gene therapy):** 90 patients initiated treatment, 8 completed infusions. U.S. payer coverage expanding via CMMI model; Europe approvals in England, Denmark, Austria.
- **JOURNAVX (acute pain):** 20,000+ prescriptions filled as of Q1. 94M lives covered (42M unrestricted). Focused on retail access (33K pharmacies) and hospital formulary adoption.

**【Financial Highlights】**
- Q1 2025 non-GAAP EPS: $4.06 vs. $4.76 YoY, due to R&D/S&M expansion.
- 2025 revenue guidance raised to $11.85B-$12B (+8% midpoint), driven by ALYFTREK, CASGEVY, and JOURNAVX ramp.
- R&D/S&M expenses: $1.23B (+21% YoY), supporting 4 Phase III programs and pain commercial build.
- Cash: $11.4B, with $425M share buybacks in Q1.

**【Key Risks & Updates】**
- Russia counterfeit impact: $200M annualized headwind (included in guidance).
- VX-522 (CF): Trial paused for tolerability assessment; no further details until resolution.
- Tariffs: Minimal impact due to U.S./U.K.-centric IP and supply chain.


Vertex Pharmaceuticals (VRTX)-5 May 25-2025 Q1 Earnings call transcript

- **Leadership Transition**: Seamless handover with Charlie Wagner (CFO/COO) and Duncan McKechnie (CCO) leading 2025 commercial expansion.
- **Revenue Growth**: Q4 2024 at $2.91B (+16% YoY), FY2024 at $11.02B (+12% YoY), with 2025 guidance of $11.75-12.0B driven by ALYFTREK, CASGEVY, and JOURNAVX.
- **JOURNAVX Launch**: First non-opioid acute pain therapy priced at $15.50/pill, with U.S. sales force targeting 80M patients and broad payer engagement.
- **Pipeline Momentum**: 3 Phase III readouts expected in 2025 for type 1 diabetes, IgAN, and APOL1-MKD, alongside CF next-gen and renal programs.
- **Financial Focus**: $4.9-5.0B R&D/SG&A investment in 4 Phase III studies and commercial infrastructure, offset by ALYFTREK royalty savings.


**【CEO & Leadership Transition】**
- **Stuart Arbuckle Retirement**: Stuart will retire as COO in July 2025 after 13 years at Vertex, with Charlie Wagner (CFO) taking on COO responsibilities and Duncan McKechnie promoted to EVP & Chief Commercial Officer.
- **Succession Planning**: Transition is described as seamless, with Duncan McKechnie (12+ years at Vertex) leading commercial operations and Charlie Wagner maintaining CFO role while expanding COO duties.
- **Pipeline Momentum**: CEO highlights 2025 as a year of diversification with ALYFTREK (CF), CASGEVY (sickle cell/beta-thalassemia), and JOURNAVX (acute pain) launches, alongside 3 pivotal studies in type 1 diabetes, IgAN, and APOL1-mediated kidney disease.

**【Financial Highlights】**
- **Q4 2024 Revenue**: $2.91 billion (+16% YoY), driven by U.S. CF growth (+17%) and ex-U.S. CF expansion (+14%). Full year 2024 revenue reached $11.02 billion (+12% YoY).
- **Non-GAAP EPS**: $3.98 (Q4) and $0.42 (FY2024), impacted by $4.4 billion Alpine IPR&D charge.
- **2025 Guidance**: Revenue $11.75-12.0 billion (+8% midpoint), with U.S. growth led by ALYFTREK and JOURNAVX, offset by ex-U.S. CF headwinds from IP disputes.
- **R&D & SG&A**: Projected $4.9-5.0 billion for FY2025, reflecting investments in 4 Phase III studies and commercial infrastructure.

**【Commercial Updates】**
- **ALYFTREK (CF)**: U.S. launch underway with first patients treated; expanded eligibility for 31 rare mutations and lower royalty burden. Early feedback highlights convenience of once-daily dosing.
- **CASGEVY (sickle cell/beta-thalassemia)**: 50+ ATCs activated globally, with U.S. Medicaid access via CMS model and NHS England reimbursement secured.
- **JOURNAVX (acute pain)**: FDA-approved as first non-opioid oral pain inhibitor; $15.50/pill pricing and 150-person sales force targeting 80 million U.S. acute pain patients. Launch includes financial assistance programs to accelerate access.

**【Pipeline Progress】**
- **CF Next-Gen**: NG 3.0 regimen (VX-828/VX-118/tezacaftor) entering clinic in 2025, targeting >14% ppFEV1 improvement. VX-522 mRNA therapy for 5,000+ non-responsive CF patients in Phase I/II.
- **Renal Therapies**: Inaxiplin (APOL1-mediated kidney disease) interim analysis cohort enrollment complete; povetacicept (IgAN) Phase III sites open in 20+ countries.
- **Type 1 Diabetes**: VX-880 islet cell therapy Phase II insulin independence data expected in 2025; encapsulated device in Phase I/II.

**【Q&A Highlights】**
- **JOURNAVX Reimbursement**: Payers broadly supportive; targeting covered lives growth and expedited P&T committee reviews. Retail pharmacy stocking begins late Q1 2025.
- **ALYFTREK Switching**: Early interest from TRIKAFTA-switching, naive, and rare mutation patients; no cannibalization guidance provided.
- **IP Dispute**: Russia ignoring CF IP; Vertex enforcing rights but expects limited impact on broader CF franchise.


Actual																	2.56	2.61	2.64	2.51	2.98	3.11	3.56	3.37	3.52	3.6	4.01	3.76	3.05	3.89	4.08	4.2	4.76	-12.83	4.38	3.98	4.06	4.52	4.8	5.03
Forecast																	1.8653	2.0814	2.3451	2.5697	2.7018	2.5313	3.0897	3.2867	3.5692	3.4736	3.6125	3.5305	3.0129	3.8591	3.9337	4.067	4.0729	-11.6256	4.0778	4.016	4.3167	4.2883	4.5732	5.1106
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+37.24%	+25.40%	+12.58%	-2.32%	+10.30%	+22.86%	+15.22%	+2.53%	-1.38%	+3.64%	+11.00%	+6.50%	+1.23%	+0.80%	+3.72%	+3.27%	+16.87%	-10.36%	+7.41%	-0.90%	-5.95%	+5.40%	+4.96%	-1.58%

Actual	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	1.52B	1.52B	1.54B	1.63B	1.72B	1.79B	1.98B	2.07B	2.10B	2.20B	2.33B	2.30B	2.37B	2.49B	2.48B	2.52B	2.69B	2.65B	2.77B	2.91B	2.77B	2.94B	3.08B	3.19B
Forecast	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	--	1.30B	1.39B	1.49B	1.59B	1.66B	1.72B	1.86B	2.00B	2.07B	2.13B	2.23B	2.30B	2.34B	2.42B	2.50B	2.51B	2.58B	2.66B	2.69B	2.78B	2.86B	2.91B	3.06B	3.18B
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+16.72%	+9.47%	+3.39%	+2.13%	+3.95%	+4.36%	+6.90%	+3.50%	+1.09%	+3.02%	+4.68%	-0.09%	+1.66%	+3.00%	-0.72%	+0.19%	+4.24%	-0.68%	+3.22%	+4.59%	-3.20%	+1.30%	+0.55%	+0.18%

VRTX

VRTX fundamentals

VRTX Q4 2025 Earnings

Earnings Call

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VRTX

VRTX fundamentals

VRTX Q4 2025 Earnings

Earnings Call

VRTX Earnings Call Summary for Q4/20254:30 PM on Feb 12, 2026

VRTX Earnings Call Summary for Q3/20254:30 PM on Nov 3, 2025

VRTX Earnings Call Summary for Q2/20254:30 PM on Aug 4, 2025

VRTX Earnings Call Summary for Q1/20254:30 PM on May 5, 2025

VRTX Earnings Call Summary for Q4/20244:30 PM on Feb 10, 2025

You can ask Aime