Vertex Pharmaceuticals Posts Higher 1Q Profit

By Elias Schisgall

Vertex Pharmaceuticals reported a higher profit in the first quarter, driven by sustained demand for cystic fibrosis treatments and growth in the company's other drugs.

The biotechnology company on Monday reported a profit of $1.03 billion, or $4.02 a share, compared with a profit of $646.3 million, or $2.49 a share, a year earlier.

Stripping out certain one-time items, the company reported adjusted earnings of $4.47 a share. Analysts polled by FactSet were expecting $4.24 a share.

Revenue grew to $2.99 billion, up from $2.77 billion a year earlier and in line with analyst estimates.

Revenue in the U.S. rose 7% to $1.78 billion. International revenue rose 9% to $1.21 billion.

Growth was driven by strong demand for cystic fibrosis therapies across the U.S. and international markets and better CF pricing in the U.S., the company said. Casgevy, the company's sickle cell disease treatment, and the painkiller Journavx also helped boost revenue, accounting for more than a quarter of revenue growth, the company said.

The sales of those drugs highlights "the strength of the increasingly diversified revenue base," Chief Executive Reshma Kewalramani said.

The company reiterated its full-year guidance for revenue of $12.95 billion to $13.1 billion.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

May 04, 2026 16:57 ET (20:57 GMT)