Vertex Pharmaceuticals reported first-quarter adjusted earnings that beat Wall Street projections, helped by a sharp uptick in sales of its new cystic fibrosis (CF) treatment. The Boston-based drugmaker said the once-daily triple combination therapy Alyftrek generated $424.4 million in sales during the quarter, up from $53.9 million a year earlier - a 687% increase. Alyftrek received regulatory approval in December 2024.
Overall company revenue for the quarter rose 8% to $2.99 billion, compared with analysts' estimates of $3.02 billion. On an adjusted basis, Vertex recorded first-quarter profit of $4.47 per share, topping expectations of $4.31 per share.
Vertex's established cystic fibrosis medicine Trikafta produced $2.35 billion in sales in the period, below the $2.64 billion analysts had anticipated, according to data compiled by LSEG. Despite the shortfall from Trikafta, the company reiterated its annual revenue outlook of $12.95 billion to $13.1 billion.
Beyond its CF franchise, Vertex continues to emphasize diversification into other therapeutic areas. The company cited Casgevy, its gene therapy for sickle cell disease and transfusion-dependent beta-thalassemia, as a key growth area. Vertex also highlighted Journavx, a novel non-opioid pain medication, as part of its broader pipeline strategy.
Since Journavx's launch in March last year, the company said more than 1 million prescriptions have been filled. In the first quarter of 2026 alone, prescriptions exceeded 350,000, contributing $29 million in revenue.
By the company’s own figures, the strong initial uptake of Alyftrek has materially boosted the quarterly profit line. At the same time, the decline in Trikafta's quarterly sales versus expectations partly offset overall revenue strength, leaving total top-line results marginally below consensus estimates.
Vertex's reported numbers underline two concurrent dynamics: rapid revenue growth from a newly approved CF therapy and a still-dominant but pressured legacy product. Management’s reaffirmed full-year revenue range reflects those offsetting forces while keeping guidance intact.
Investors and market participants will likely continue to watch uptake trends for Alyftrek and the trajectory of Trikafta sales, alongside progress in the company’s pipeline programs such as Casgevy and Journavx, which the company has identified as important future growth drivers.