Vertex Pharmaceuticals Sees FY24 Revenue $10.55B-$10.75B Vs $10.61B Est.
Portfolio Pulse from Benzinga Newsdesk
Vertex Pharmaceuticals provided its FY24 financial guidance, projecting product revenues of $10.55B-$10.75B, driven by growth in CF treatments and the launch of CASGEVY. Expenses are expected to be $4.3B-$4.4B. Key highlights include the expansion of CF patient base and approvals for KAFTRIO in the EU and UK for younger patients, and a pending approval for additional CF mutations in the EU and other regions.
February 05, 2024 | 9:08 pm
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Vertex Pharmaceuticals projects FY24 revenues of $10.55B-$10.75B, driven by CF treatments and CASGEVY launch, with expenses of $4.3B-$4.4B. Approvals for KAFTRIO in the EU and UK for younger CF patients and pending approvals for additional mutations highlight growth and expansion.
Vertex's positive revenue forecast, driven by existing CF treatments and the launch of CASGEVY, indicates strong growth potential. Regulatory approvals in the EU and UK for KAFTRIO, expanding the treatable patient base, further support a positive outlook. The detailed financial guidance and strategic investments in R&D and commercial capabilities underscore the company's strong position and potential for stock appreciation in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100