Vertex Pharmaceuticals Q2 Earnings Call Highlights

Vertex Pharmaceuticals NASDAQ: VRTX reported second-quarter 2026 revenue growth of 12% year over year to $3.3 billion, driven by continued growth in its cystic fibrosis franchise and rising contributions from newer products CASGEVY and JOURNAVX. Chief Executive Officer and President Reshma Kewalramani said the company made progress across commercial operations, clinical development and regulatory activities during the quarter. Vertex raised its full-year revenue guidance to $13.1 billion to $13.2 billion, while maintaining its expectation that non-cystic-fibrosis products will generate at least $500 million in 2026 revenue. Cystic Fibrosis Franchise Continues to Expand Global cystic fibrosis revenue increased 11% from a year earlier, supported by uptake of ALYFTREK and continued performance from TRIKAFTA. Chief Commercial Officer Duncan McKechnie said ALYFTREK surpassed $1 billion in revenue during the first half of 2026. In the U.S., ALYFTREK growth included patients new to therapy, patients returning to therapy and patients switching from TRIKAFTA. McKechnie said most ALYFTREK revenue continued to come from patients switching from TRIKAFTA. In Germany and the United Kingdom, more than one-third of eligible cystic fibrosis patients are now using ALYFTREK, according to the company. Vertex has initiated global regulatory submissions for ALYFTREK in children ages 2 to 5 and is progressing submissions for TRIKAFTA in patients ages 1 to 2. The company expects data in the second half of 2026 from VX-828, its next-generation 3.0 CFTR modulator. Kewalramani said Vertex will advance future CF candidates only if they show potential to surpass ALYFTREK on measures including the number of patients reaching sweat chloride levels below 30 millimoles per liter, along with once-daily dosing and favorable drug-interaction properties. CASGEVY and JOURNAVX Gain Momentum CASGEVY generated $76 million in second-quarter revenue, representing approximately 75% sequential growth and more than 150% growth from the prior year, McKechnie said. The company reported more CASGEVY infusions in the first half of 2026 than in all of 2025 and said the second quarter marked the third consecutive quarter with more than 100 patient initiations. The FDA approved CASGEVY for children as young as 2 with sickle cell disease and beta thalassemia last month. Vertex said the approval came 53 days after filing and that its first pediatric patient had initiated therapy and completed cell collection. The company also cited reimbursement progress in Germany, the United Kingdom, Italy and the Middle East. JOURNAVX, Vertex’s treatment for moderate-to-severe acute pain, recorded $50 million in second-quarter revenue, up about 70% sequentially. Prescriptions rose approximately 45%...