(Reuters) -Vertex Pharmaceuticals reported on Monday that it beat Wall Street estimates for third-quarter results, driven by strong demand for its cystic fibrosis treatments and early contributions from newer medicines.
The Boston-based company reported total revenue of $3.08 billion for the quarter ended September 30, above analysts’ average estimate of $3.05 billion, according to LSEG data.
Adjusted earnings came in at $4.80 per share, topping expectations of $4.56.
Vertex, a leader in cystic fibrosis drugs, is diversifying into gene therapies, including Casgevy for sickle cell disease and transfusion-dependent beta-thalassemia, and into non-opioid painkillers.
Casgevy generated $16.9 million in quarterly revenue. Since launch, 165 patients have had cells collected for treatment, with 39 receiving infusions.
Vertex’s non-opioid painkiller Journavx, approved in January for acute pain, has received more than 300,000 prescriptions since becoming available in March. The company said more than 170 million people now have insurance coverage for the drug.
Vertex also raised its 2025 revenue forecast to a range of $11.9 billion to $12 billion, from its prior view of $11.85 billion to $12 billion. Analysts were expecting $11.99 billion.
Sales of the company’s older cystic fibrosis treatment, Trikafta, came in at $2.65 billion, missing analysts’ average estimate of $2.66 billion.
(Reporting by Kamal Choudhury in Bengaluru; Editing by Tasim Zahid)
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