Vertex Reports Full-Year and Fourth-Quarter 2017 Financial Results

-Total 2017 CF product revenues of $2.17 billion, a 29% increase compared to $1.68 billion in 2016; 2017 KALYDECO revenues of $845 million and 2017 ORKAMBI revenues of $1.32 billion-
   
BOSTON -- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the full year and fourth quarter ended December 31, 2017.

Key financial results include:
 
Three Months Ended December 31,
 
%
 
Twelve Months Ended December 31,
 
%
 
2017
 
2016
 
Change
 
2017
 
2016
 
Change
 
(in millions, except per share and percentage data)
ORKAMBI product revenues, net
$
365

 
$
277

 
32%
 
$
1,321

 
$
980

 
35%
KALYDECO product revenues, net
$
256

 
$
177

 
44%
 
$
845

 
$
703

 
20%
TOTAL CF product revenues, net
$
621

 
$
454

 
37%
 
$
2,165

 
$
1,683

 
29%
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GAAP Collaborative revenues
$
29

 
$
1

 
n/a
 
$
315

 
$
2

 
n/a
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
GAAP net income (loss)
$
101

 
$
33

 
206%
 
$
263

 
$
(112
)
 
n/a
GAAP net income (loss) per share - diluted
$
0.39

 
$
0.13

 
200%
 
$
1.04

 
$
(0.46
)
 
n/a
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Non-GAAP net income
$
158

 
$
88

 
80%
 
$
495

 
$
211

 
134%
Non-GAAP net income per share - diluted
$
0.61

 
$
0.35

 
74%
 
$
1.95

 
$
0.85

 
129%

"2017 was an outstanding year for Vertex as we made significant progress across all aspects of our business that moved us closer toward our goal of delivering new medicines that treat the underlying cause of CF for all people with the disease,” said Jeffrey Leiden, M.D., Ph.D., Chairman, President and Chief Executive Officer of Vertex. “As we look at 2018 and beyond, Vertex’s scientific expertise and financial strength position us to advance key pipeline programs in CF, including our triple combination regimens, and to bring forward potential new medicines in multiple other serious diseases."

1

The following information was filed by Vertex Pharmaceuticals Inc Ma (VRTX) on Wednesday, January 31, 2018 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.

View differences made from one year to another to evaluate Vertex Pharmaceuticals Inc Ma's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Vertex Pharmaceuticals Inc Ma.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account