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Vertex Pharmaceuticals Inc Ma (VRTX) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

Vertex Pharmaceuticals Inc Ma

CIK: 875320 Ticker: VRTX

Vertex Reports Third-Quarter 2020 Financial Results
-Product revenues of $1.54 billion, a 62% increase compared to Q3 2019-
-Company raises revenue guidance; now expects 2020 product revenues of $6.0 to $6.2 billion-

BOSTON -- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the third quarter ended September 30, 2020 and revised upward its full-year 2020 financial guidance for product revenues.
"This has been another very strong quarter for Vertex with execution across our CF business and continued earnings and revenue growth," said Reshma Kewalramani, M.D., Chief Executive Officer and President of Vertex. "We are pleased with our progress toward treating all people with cystic fibrosis highlighted by several recent milestones: the early approval and encouraging start of the launch of KAFTRIO in the EU, positive TRIKAFTA data in children ages 6-11, and continued expansion of our medicines' labels as with our recent approval of KALYDECO for infants as young as 4 months of age."
"As we extend our leadership in CF, we are also advancing a broad pipeline of innovative therapies," continued Dr. Kewalramani. "Our R&D strategy contemplates the high-risk nature of drug development and therefore includes a portfolio approach to each of our disease areas of interest. In AATD, while disappointed by the VX-814 outcome, we look forward to the VX-864 Phase 2 proof-of-concept data in the first half of 2021. Our pipeline spans multiple diseases, and multiple important clinical readouts are expected from now through the end of 2021, each of which we expect will hold transformative potential for patients and further growth for Vertex."


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The following information was filed by Vertex Pharmaceuticals Inc Ma (VRTX) on Thursday, October 29, 2020 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 2020 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

Cover Page
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
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Details)
Accumulated Other Comprehensive Income (Loss) (Tables)
Additional Cash Flow Information
Additional Cash Flow Information (Details)
Additional Cash Flow Information (Tables)
Basis Of Presentation And Accounting Policies
Basis Of Presentation And Accounting Policies (Details)
Basis Of Presentation And Accounting Policies (Policies)
Collaborative Arrangements
Collaborative Arrangements (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Anti-Dilutive Securities (Details)
Earnings Per Share - Schedule Of Computation (Details)
Facilities
Facilities (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Details)
Fair Value Measurements - Fair Value Of Contingent Consideration Liabilities (Details)
Fair Value Measurements - Financial Assets And Liabilities Subject To Fair Value Measurements (Details)
Hedging
Hedging (Tables)
Hedging - Additional Information (Details)
Hedging - Cash Flow Hedging Instruments (Details)
Hedging - Derivative Fair Value (Details)
Hedging - Notional Amount (Details)
Hedging - Offsetting Derivatives (Details)
Income Taxes
Income Taxes (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Marketable Securities And Equity Investments
Marketable Securities And Equity Investments (Tables)
Marketable Securities And Equity Investments - Additional Information (Details)
Marketable Securities And Equity Investments - Available-For-Sale Debt Securities At Fair Value (Details)
Marketable Securities And Equity Investments - Available-For-Sale Debt Securities By Contractual Maturity (Details)
Marketable Securities And Equity Investments - Summary Of Cash Equivalents And Marketable Securities (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Details)
Revenue Recognition - Disaggregation Of Revenue (Details)
Stock-Based Compensation Expense And Share Repurchase Programs
Stock-Based Compensation Expense And Share Repurchase Programs (Tables)
Stock-Based Compensation Expense And Share Repurchase Programs - Additional Information (Details)
Stock-Based Compensation Expense And Share Repurchase Programs - Stock Options Outstanding And Exercisable (Details)
Stock-Based Compensation Expense And Share Repurchase Programs - Stock-Based Compensation Expense (Details)
Stock-Based Compensation Expense And Share Repurchase Programs - Unrecognized Stock-Based Compensation Expense (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: 0000875320-20-000043
Submitted to the SEC: Fri Oct 30 2020 4:13:31 PM EST
Accepted by the SEC: Fri Oct 30 2020
Period: Wednesday, September 30, 2020
Industry: Pharmaceutical Preparations

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