- First-quarter 2019 product revenues of $857 million, a 34% increase compared to $638 million in 2018-
- First-quarter 2019 GAAP operating income increased 115% to $277 million; non-GAAP operating income increased 81% to $377 million -
- On track to choose best triple combination regimen in Q2 2019; NDA submission planned for Q3 2019 -
BOSTON -- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the first quarter ended March 31, 2019 and reiterated full-year 2019 financial guidance.
"Our goal is to develop transformative medicines for all people with CF and other serious diseases and to ensure all eligible patients have access to these medicines as quickly as possible," said Jeffrey Leiden, M.D., Ph.D., Chairman, President and Chief Executive Officer of Vertex. "We have made significant progress toward achieving this goal by rapidly advancing our triple combination regimens through late-stage development, and we remain on track to submit a New Drug Application for one of these medicines in the third quarter of 2019. We also continue to advance our earlier-stage programs targeting AAT, pain, FSGS and sickle cell disease. In the first quarter, we again delivered strong revenue and earnings growth, which further enhances our ability to make significant investments in internal and external innovation."
First-Quarter 2019 Financial Highlights
Three Months Ended March 31,
(in millions, except per share amounts)
Total product revenues, net
GAAP Operating income
Non-GAAP Operating income
GAAP Net income
Non-GAAP Net income
GAAP Net income per share - diluted
Non-GAAP Net income per share - diluted
The following information was filed by Vertex Pharmaceuticals Inc Ma (VRTX) on Tuesday, April 30, 2019 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.
View differences made from one quarter to another to evaluate Vertex Pharmaceuticals Inc Ma's financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed, and by Vertex Pharmaceuticals Inc Ma.
Ticker: VRTX CIK: 875320 Form Type:10-Q Quarterly Report Accession Number: 0000875320-19-000019 Submitted to the SEC: Wed May 01 2019 12:37:21 PM EST Accepted by the SEC: Wed May 01 2019 Period: Sunday, March 31, 2019 Industry: Pharmaceutical Preparations