November 3, 2025 — Leads & Copy — Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) reported strong third-quarter results, with total revenue up 11% to $3.08 billion. The company refined its full-year 2025 revenue guidance to $11.9 to $12.0 billion.
Key highlights include continued growth in cystic fibrosis (CF) therapies, global momentum for CASGEVY, and the launch of JOURNAVX in acute pain. The company also made progress in its R&D pipeline, with completion of enrollment in the Phase 3 study of povetacicept in IgAN and initiation of the Phase 2/3 study of povetacicept in primary membranous nephropathy.
The company is focused on executing ongoing launches, initiating the povetacicept BLA submission in IgAN for potential U.S. accelerated approval, advancing the pipeline, and preparing for new launches in additional disease areas. GAAP net income was $1.1 billion, and non-GAAP net income was $1.2 billion.
Cash, cash equivalents, and total marketable securities were $12.0 billion as of September 30, 2025. Vertex has refined its full year 2025 revenue guidance with total revenue now expected to be $11.9 to $12.0 billion.
Vertex is also revising full year 2025 guidance for combined GAAP and non-GAAP operating expenses. Combined GAAP and non-GAAP R&D, AIPR&D, and SG&A expenses are now expected to be approximately $5.65 to $5.8 billion and $5.0 to $5.1 billion, respectively. In addition, Vertex lowered its prior non-GAAP effective tax rate guidance of 20.5% to 21.5% to a new range of 17% to 18%.
Vertex has approved therapies for cystic fibrosis, sickle cell disease, transfusion-dependent beta thalassemia and acute pain, and it continues to advance clinical and research programs in these areas.
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Source: Vertex Pharmaceuticals Incorporated
