Vertex Pharma (VRTX) Tops Q4 EPS by 8c, Revenues Beat

Vertex Pharma (NASDAQ: VRTX) reported Q4 EPS of $0.61, $0.08 better than the analyst estimate of $0.53. Revenue for the quarter came in at $621 million versus the consensus estimate of $594.72 million.

"2017 was an outstanding year for Vertex as we made significant progress across all aspects of our business that moved us closer toward our goal of delivering new medicines that treat the underlying cause of CF for all people with the disease,” said Jeffrey Leiden, M.D., Ph.D., Chairman, President and Chief Executive Officer of Vertex. “As we look at 2018 and beyond, Vertex’s scientific expertise and financial strength position us to advance key pipeline programs in CF, including our triple combination regimens, and to bring forward potential new medicines in multiple other serious diseases."

2018 Financial Guidance

Vertex today provided full-year 2018 guidance for combined GAAP and non-GAAP R&D and SG&A expenses, as summarized below:

Combined Non-GAAP and GAAP R&D and SG&A Expenses: Vertex expects that its combined GAAP R&D and SG&A expense in 2018 will be in the range of $1.80 to $1.95 billion and combined non-GAAP R&D and SG&A expense will be in the range of $1.50 to $1.55 billion. The increase compared to 2017 primarily reflects ongoing and anticipated CF development efforts, including the investment for the preparation and commercial supply for up to two pivotal programs for its triple combination regimens, and the incremental investment to support the planned launch of the tezacaftor/ivacaftor combination.

For earnings history and earnings-related data on Vertex Pharma (VRTX) click here.

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