The Investor
04 Nov 2025, 06:13
Vertex delivers 11% revenue growth in Q3, raises 2025 revenue outlook to up to $12 billion
Vertex Pharmaceuticals (Nasdaq: VRTX) reported third-quarter 2025 revenue of $3.08 billion, up 11% year over year, driven by continued strength in cystic fibrosis (CF) therapies, including ALYFTREK, and early sales from new launches CASGEVY and JOURNAVX. U.S. revenue grew 15% to $1.98 billion, while international revenue rose 4% to $1.10 billion. GAAP net income reached $1.1 billion, and non-GAAP net income was $1.2 billion, reflecting strong product demand and disciplined expense management.
The company refined its full-year 2025 guidance, now expecting total revenue of $11.9–$12.0 billion and combined non-GAAP R&D, AIPR&D, and SG&A expenses of $5.0–$5.1 billion. Vertex also lowered its non-GAAP effective tax rate forecast to 17–18% due to one-time R&D tax benefits.
CEO Dr. Reshma Kewalramani highlighted progress in the R&D pipeline, including five programs in pivotal development, full enrollment in the Phase 3 IgAN trial for povetacicept, and plans to submit the first module of its Biologics License Application to the FDA by year-end. Vertex ended the quarter with $12 billion in cash and marketable securities, up from $11.2 billion at the end of 2024.
Vertex Pharmaceuticals (Nasdaq: VRTX) reported third-quarter 2025 revenue of $3.08 billion, up 11% year over year, driven by continued strength in cystic fibrosis (CF) therapies, including ALYFTREK, and early sales from new launches CASGEVY and JOURNAVX. U.S. revenue grew 15% to $1.98 billion, while international revenue rose 4% to $1.10 billion. GAAP net income reached $1.1 billion, and non-GAAP net income was $1.2 billion, reflecting strong product demand and disciplined expense management.
The company refined its full-year 2025 guidance, now expecting total revenue of $11.9–$12.0 billion and combined non-GAAP R&D, AIPR&D, and SG&A expenses of $5.0–$5.1 billion. Vertex also lowered its non-GAAP effective tax rate forecast to 17–18% due to one-time R&D tax benefits.
CEO Dr. Reshma Kewalramani highlighted progress in the R&D pipeline, including five programs in pivotal development, full enrollment in the Phase 3 IgAN trial for povetacicept, and plans to submit the first module of its Biologics License Application to the FDA by year-end. Vertex ended the quarter with $12 billion in cash and marketable securities, up from $11.2 billion at the end of 2024.
