WS Investor
13 Feb 2026, 19:54
Vertex Pharmaceuticals reported strong fourth quarter and full-year 2025 results, supported by growth in its cystic fibrosis (CF) franchise and contributions from newer products.
In Q4 2025, total revenue rose 10% year over year to $3.19 billion. U.S. revenue increased 12% to $2.06 billion, driven by strong CF demand, including ALYFTREK, and contributions from CASGEVY and JOURNAVX. International revenue grew 5% to $1.13 billion. GAAP net income was $1.2 billion, up from $913 million in Q4 2024.
For full-year 2025, revenue increased 9% to $12.0 billion, with U.S. revenue up 13% to $7.55 billion and international revenue up 3% to $4.45 billion. GAAP net income reached $4.0 billion, compared to a net loss in 2024, reflecting higher product revenue and the absence of large Alpine acquisition-related charges from the prior year. Vertex ended 2025 with $12.3 billion in cash and marketable securities.
For 2026, the company expects total revenue of $12.95–$13.1 billion, including at least $500 million from non-CF products such as CASGEVY and JOURNAVX. Vertex also remains on track to complete a BLA filing for U.S. accelerated approval of povetacicept in IgA nephropathy in the first half of 2026.
Business Wire
In Q4 2025, total revenue rose 10% year over year to $3.19 billion. U.S. revenue increased 12% to $2.06 billion, driven by strong CF demand, including ALYFTREK, and contributions from CASGEVY and JOURNAVX. International revenue grew 5% to $1.13 billion. GAAP net income was $1.2 billion, up from $913 million in Q4 2024.
For full-year 2025, revenue increased 9% to $12.0 billion, with U.S. revenue up 13% to $7.55 billion and international revenue up 3% to $4.45 billion. GAAP net income reached $4.0 billion, compared to a net loss in 2024, reflecting higher product revenue and the absence of large Alpine acquisition-related charges from the prior year. Vertex ended 2025 with $12.3 billion in cash and marketable securities.
For 2026, the company expects total revenue of $12.95–$13.1 billion, including at least $500 million from non-CF products such as CASGEVY and JOURNAVX. Vertex also remains on track to complete a BLA filing for U.S. accelerated approval of povetacicept in IgA nephropathy in the first half of 2026.
Business Wire
