Vertex Pharmaceutical 4Q Profit Rose on Higher Sales of Trikafta

By Jeffrey T. Lewis

Vertex Pharmaceuticals Inc. reported profit increased in the fourth quarter after sales of its Trikafta cystic fibrosis medication rose.

The Boston-based pharmaceuticals maker said net income rose to $770.1 million from $604 million in the same period a year earlier. Earnings per share reached $3.00 from $2.30 a year earlier and adjusted earnings per share rose to $3.37 from $2.51. Net product revenue increased to $2.07 billion in the quarter, from $1.63 billion a year earlier.

Revenue from Trikafta, by far the company's biggest seller, rose to $1.69 billion from $1.09 billion a year earlier. Revenue from the company's next-biggest seller in the fourth quarter, Kalydeco, fell to $152 million from $193 million.

The company reported full-year 2021 product revenue of $7.57 billion, beating its guidance from the third quarter earnings report of $7.4 billion to $7.5 billion. For 2022, Vertex issued product revenue guidance of $8.4 billion to $8.6 billion.

Write to Jeffrey T. Lewis at [e-mail]

(END) Dow Jones Newswires

January 26, 2022 16:41 ET (21:41 GMT)

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