Vertex beats profit estimates as new drug sales rise
Vertex reported adjusted profit of $4.47 per share as sales of its new cystic fibrosis drug Alyftrek rose. Total quarterly revenue reached $2.99 billion.
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VERTEX PHARMACEUTICALS INC reported first-quarter adjusted profit of $4.47 per share, beating LSEG estimates of $4.31 per share. Revenue rose 8% to $2.99 billion, driven by a 687% sales surge for the new cystic fibrosis therapy Alyftrek. The results highlight Vertex's successful shift toward new treatments as its legacy blockbuster Trikafta missed analyst sales expectations.
