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We expect Vertex Pharmaceuticals Incorporated VRTX to surpass expectations when it reports first-quarter 2025 results on May 5, after market close. The Zacks Consensus Estimate for the to-be-reported quarter’s revenues is pegged at $2.82 billion, while the same for earnings is $4.22 per share. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar)
Year to date, shares of Vertex have rallied 23.3% against the industry’s decline of 5.2%.
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Factors Shaping VRTX's Upcoming Results
Vertex’s cystic franchise (“CF”) sales have been growing, driven by higher sales of its blockbuster CF medicine, Trikafta/Kaftrio (Trikafta’s brand name in Europe), in younger age groups.
The company’s revenues in the to-be-reported quarter are likely to have been driven by strong demand for Trikafta/Kaftrio in both the United States and international markets
The Zacks Consensus Estimate and our model estimate for Trikafta/Kaftrio sales are currently pegged at $2.55 billion and $2.62 billion, respectively.
However, higher Trikafta/Kaftrio sales are likely to have caused sales erosion of VRTX’s other CF drugs — Symdeko (marketed as Symkevi in Europe), Orkambi and Kalydeco.
While CF remains the main area of focus, Vertex has witnessed rapid success with its non-CF pipeline candidates in the past year.
Vertex and partner CRISPR Therapeutics’ CRSP one-shot gene therapy, Casgevy, was approved in late 2023/early 2024 for two blood disorders — sickle cell disease and transfusion-dependent beta-thalassemia.
Vertex leads the global development and commercialization of Casgevy under the terms of the 2021 agreement, with support from CRISPR Therapeutics.
VRTX’s product revenues in the last reported quarter included $8 million from Casgevy sales. Sales of Casgevy should be higher in the first quarter of 2025. Investors will be keen to get more updates related to the commercial progress of Casgevy on the upcoming earnings call.
Recent FDA Nod for VRTX's Two Products
The FDA approved Vertex’s oral, non-opioid, highly selective NaV1.8 pain signal inhibitor, Journavx, for the treatment of adults with moderate-to-severe acute pain in January 2025.
Vertex’s fifth CFTR modulator therapy, Alyftrek (vanza triple), is a next-in-class triple combination regimen that was approved by the FDA in December 2024 for treating people with CF aged six years and older. Vertex’s regulatory application for Alyftrek is also under review in the EU and some other countries. Earlier this week, the European Medicines Agency’s (EMA) Committee for Medicinal Products for Human Use (CHMP) rendered a positive opinion recommending approval for Alyftrek in the EU.