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Vertex Pharmaceuticals Inc Ma (VRTX) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Vertex Pharmaceuticals Inc Ma

CIK: 875320 Ticker: VRTX






Vertex Reports Third-Quarter 2018 Financial Results

-Third-quarter 2018 total CF product revenues of $783 million, a 42% increase compared to $550 million in the third quarter of 2017-

-Company reiterates full-year 2018 total CF product revenue guidance of $2.9 to $3.0 billion; reiterates full-year 2018 combined non-GAAP R&D and SG&A expense guidance of $1.50 to $1.55 billion-
   
BOSTON -- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the third quarter ended September 30, 2018 and reviewed recent progress with its approved and investigational medicines. Vertex also reiterated its guidance for full-year 2018 total CF product revenues and guidance for combined GAAP and non-GAAP R&D and SG&A expenses.

Third-Quarter 2018 Financial Highlights
 
Three Months Ended September 30,
 
 
 
2018
 
2017
 
% Change
 
(in millions, except per share and percentage data)
TOTAL CF product revenues, net
$
783

 
$
550

 
42%
 
 
 
 
 
 
 
 
GAAP net income (loss)
$
129

 
$
(103
)
 
 
GAAP net income (loss) per share - diluted
$
0.50

 
$
(0.41
)
 
 
 
 
 
 
 
 
 
 
Non-GAAP net income
$
282

 
$
136

 
107%
Non-GAAP net income per share - diluted
$
1.09

 
$
0.53

 
106%

“We continue to make significant progress toward our goal of developing medicines for all people with CF as marked by the recent approvals of KALYDECO and ORKAMBI in younger children, the launch of SYMDEKO in the U.S. and the rapid progress we have made with our triple combination pivotal studies," said Jeffrey Leiden, M.D., Ph.D., Chairman, President and Chief Executive Officer of Vertex. "In our development pipeline, we are advancing potential medicines for pain, sickle cell disease and beta thalassemia and are also beginning to advance additional compounds from research into early clinical development that could fundamentally change the treatment of other serious diseases in the future."

Dr. Leiden continued, "Our ability to treat more and more people with CF is driving revenue and earnings growth and significant cash flow generation, which enables the company to invest to discover and develop transformative future medicines for the treatment of CF and other life-threatening diseases."


1

The following information was filed by Vertex Pharmaceuticals Inc Ma (VRTX) on Wednesday, October 24, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Vertex Pharmaceuticals Inc Ma's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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Inside Vertex Pharmaceuticals Inc Ma's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Comprehensive Income (Parenthetical)
Condensed Consolidated Statements Of Operations
Condensed Consolidated Statements Of Shareholders' Equity And Noncontrolling Interest
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Details)
Accumulated Other Comprehensive Income (Loss) (Tables)
Basis Of Presentation And Accounting Policies
Basis Of Presentation And Accounting Policies (Policies)
Basis Of Presentation And Accounting Policies (Tables)
Basis Of Presentation And Accounting Policies - Cumulative Effect Of Applying Asc 606 To The Condensed Consolidated Balance Sheet (Details)
Basis Of Presentation And Accounting Policies - Impact Of Adoption To The Condensed Consolidated Balance Sheet (Details)
Basis Of Presentation And Accounting Policies - Narrative (Details)
Basis Of Presentation And Accounting Policies - Schedule Of Cash, Cash Equivalents And Restricted Cash (Details)
Basis Of Presentation And Accounting Policies - Schedule Of New Accounting Pronouncements And Changes In Accounting Principles (Details)
Collaborative Arrangements And Acquisitions
Collaborative Arrangements And Acquisitions (Tables)
Collaborative Arrangements And Acquisitions - Aggregate Vie Financial Information, Increase In The Fair Value Of Contingent Payments (Details)
Collaborative Arrangements And Acquisitions - Aggregate Vie Financial Information, Schedule Of Collaborative Arrangement Summary Of Items Related To Vies (Details)
Collaborative Arrangements And Acquisitions - Aggregate Vie Financial Information, Summary Of Net Income Attributable To Noncontrolling (Details)
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Commitments And Contingencies
Commitments And Contingencies (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Potential Gross Common Equivalent Shares (Details)
Earnings Per Share - Schedule Of Earnings Per Share Computation Statement (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Goodwill
Goodwill (Details)
Hedging
Hedging (Tables)
Hedging - Cash Flow Hedging Instruments (Details)
Hedging - Derivative Fair Value (Details)
Hedging - Narrative (Details)
Hedging - Notional Amount (Details)
Hedging - Offsetting Derivatives (Details)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Tables)
Inventories - Schedule Of Inventories (Details)
Long-Term Obligations
Long-Term Obligations (Tables)
Long-Term Obligations - Fan Pier Leases (Details)
Long-Term Obligations - Property And Equipment, Lease Obligations (Details)
Long-Term Obligations - Revolving Credit Facility (Details)
Long-Term Obligations - San Diego Lease (Details)
Marketable Securities And Equity Investments
Marketable Securities And Equity Investments (Tables)
Marketable Securities And Equity Investments - Marketable Securities And Equity Investments (Details)
Marketable Securities And Equity Investments - Summary Of Cash Equivalents And Marketable Securities (Details)
Restructuring Liabilities
Restructuring Liabilities (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Narrative (Details)
Revenue Recognition - Schedule Of Disaggregation Of Revenue (Details)
Revenue Recognition - Summary In Changes In Contract Liabilities (Details)
Stock-Based Compensation Expense And Share Repurchase
Stock-Based Compensation Expense And Share Repurchase (Tables)
Stock-Based Compensation Expense And Share Repurchase - (Details)
Stock-Based Compensation Expense And Share Repurchase - Narrative (Details)
Stock-Based Compensation Expense And Share Repurchase - Stock Options Outstanding And Exercisable (Details)
Subsequent Event
Subsequent Events (Details)

Material Contracts, Statements, Certifications & more

Vertex Pharmaceuticals Inc Ma provided additional information to their SEC Filing as exhibits

Ticker: VRTX
CIK: 875320
Form Type: 10-Q Quarterly Report
Accession Number: 0000875320-18-000029
Submitted to the SEC: Thu Oct 25 2018 4:10:19 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Pharmaceutical Preparations

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