More from VRTX Q2 2026

Vertex Pharmaceuticals Incorporated

VRTX2026 Q2Healthcare

1mo

Financial Performance Summary

Ended Q2 with approximately $13.6 billion in cash and investments; during the quarter, repurchased ~$455 million of about 1 million shares.
Global CF revenue grew 11% year-over-year in Q2, with CASGEVY delivering $76 million (about 75% sequential growth vs. Q1 2026 and 150%+ year-over-year) and JOURNAVX delivering $50 million (about 70% sequential revenue growth vs. Q1 2026).
Gross margin was 85.6% in Q2 2026 (step-down from Q1 expected), driven by product mix and manufacturing network investment costs, with full-year gross margin expected just under 86%.
Q2 2026 non-GAAP EPS was $4.73, up 5% year-over-year, reflecting strong revenue growth and continued pipeline/commercial investments.
Q2 2026 non-GAAP R&D expense was $889 million (up 1% year-over-year) and non-GAAP SG&A was $520 million (up 45% year-over-year), reflecting commercial investment split roughly evenly between pain and renal.
Q2 2026 revenue growth included an approximate 170 basis point benefit from foreign exchange rates.
Q2 2026 total revenue was $3.3 billion, up 12% year-over-year, with growth balanced between U.S. and international.

Vertex Pharmaceuticals Incorporated

VRTX2026 Q2Healthcare

1mo

We will only advance assets into Phase II in Beyond that show promise to beat ALYFTREK.

Reshma Kewalramani

CEO, Vertex Pharmaceuticals Incorporated

Context

CEO described the competitive bar and decision criteria for CF NextGen 3.0 and Beyond programs. CEO said Vertex’s goal for over two decades is bringing patients to carrier levels of sweat chloride. She then discussed ALYFTREK’s performance and noted that unmet need is far lower today and the bar is very high for any medicine to beat ALYFTREK. She described how Vertex will evaluate multiple regimens in Phase I, but only move Beyond assets into Phase II if they show promise to beat ALYFTREK.

Vertex Pharmaceuticals Incorporated

VRTX2026 Q2Healthcare

1mo

Nearly 2/3 under-12 <30 mmol/L

ALYFTREK brings most younger children to carrier-range sweat chloride

Management highlighted ECFS data that among children with CF under 12, the majority achieved sweat chloride less than 30 millimoles, with the company emphasizing that CF carriers at these levels typically do not show manifestations of disease.

More from VRTX Q2 2026

Vertex Pharmaceuticals Incorporated

VRTX2026 Q2Healthcare

1mo

Financial Performance Summary

Ended Q2 with approximately $13.6 billion in cash and investments; during the quarter, repurchased ~$455 million of about 1 million shares.
Global CF revenue grew 11% year-over-year in Q2, with CASGEVY delivering $76 million (about 75% sequential growth vs. Q1 2026 and 150%+ year-over-year) and JOURNAVX delivering $50 million (about 70% sequential revenue growth vs. Q1 2026).
Gross margin was 85.6% in Q2 2026 (step-down from Q1 expected), driven by product mix and manufacturing network investment costs, with full-year gross margin expected just under 86%.
Q2 2026 non-GAAP EPS was $4.73, up 5% year-over-year, reflecting strong revenue growth and continued pipeline/commercial investments.
Q2 2026 non-GAAP R&D expense was $889 million (up 1% year-over-year) and non-GAAP SG&A was $520 million (up 45% year-over-year), reflecting commercial investment split roughly evenly between pain and renal.
Q2 2026 revenue growth included an approximate 170 basis point benefit from foreign exchange rates.
Q2 2026 total revenue was $3.3 billion, up 12% year-over-year, with growth balanced between U.S. and international.