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Vertex Reports Full-Year and Fourth Quarter 2012 Financial Results and Provides Updates on Key Development Programs
-2013 investment focused on key development programs in cystic fibrosis, hepatitis C and autoimmune diseases-
-Full-year 2012 revenues of $1.53 billion, including net product revenues of $1.16 billion for INCIVEK in hepatitis C and $171.6 million for KALYDECO in cystic fibrosis-
-Company ends 2012 with $1.32 billion in cash, cash equivalents and marketable securities-
Cambridge, MA, January 29, 2013 Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the full year and fourth quarter ended December 31, 2012. The company also today provided financial guidance for 2013.
Vertex reported total 2012 revenues of $1.53 billion, including net product revenues of $1.16 billion from INCIVEK® (telaprevir) and $171.6 million from KALYDECOTM (ivacaftor). The GAAP net loss attributable to Vertex was $(107.0) million, or $(0.50) per share, for 2012. 2012 non-GAAP net income attributable to Vertex was $255.5 million, or $1.18 per diluted share, excluding certain charges of $362.6 million. The company reported $1.32 billion in cash, cash equivalents and marketable securities as of December 31, 2012.
For the fourth quarter of 2012, Vertex reported $334.0 million in total revenues, including $222.8 million from INCIVEK and $58.5 million from KALYDECO. In the fourth quarter of 2012, the GAAP net loss attributable to Vertex was $(76.1) million, or $(0.35) per share. Non-GAAP net income attributable to Vertex was $9.0 million, or $0.04 per diluted share, excluding certain charges of $85.1 million, for the fourth quarter of 2012.
Entering 2013, we are committed to advancing key development programs and to maintaining financial strength to position the company for sustainable long-term growth, said Jeffrey
The following information was filed by Vertex Pharmaceuticals Inc Ma (VRTX) on Tuesday, January 29, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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