Vertex Raises 2026 Revenue Guidance to $13.15 Billion to $13.25 Billion

Vertex Pharmaceuticals Incorporated reported financial results for the third quarter ended September 30, 2026, and updated its full-year revenue guidance. Total revenue for the third quarter increased 12% to $3.44 billion compared to the same period in 2025. This growth was driven by continued performance in cystic fibrosis (CF) therapies and growth from diversification into additional disease areas.

In the United States, total revenue increased 10% to $2.17 billion, supported by strong CF patient demand, including new initiations of ALYFTREK, higher realized net prices in CF, and contributions from CASGEVY, JOURNAVX, and PALSONIFY. Outside the U.S., total revenue increased 16% to $1.27 billion due to strong CF performance across multiple geographies, increased CASGEVY infusions, and a favorable impact from foreign exchange.

GAAP net income for the third quarter was $654 million, compared to $1.1 billion in the prior year. The decrease was primarily attributed to expenses related to the acquisition of Crinetics Pharmaceuticals. Non-GAAP net income was $1.2 billion in both the third quarters of 2026 and 2025. As of September 30, 2026, the company held $9.8 billion in cash, cash equivalents, and total marketable securities.

Vertex raised its full-year 2026 total revenue guidance to $13.15 billion to $13.25 billion, up from the previous range of $13.1 billion to $13.2 billion. The updated guidance includes expectations for continued growth in CF, $500 million or more in revenue from CASGEVY and JOURNAVX combined, and $40 million to $50 million in revenue from PALSONIFY following the closing of the Crinetics Pharmaceuticals transaction on September 1. The guidance also reflects a year-over-year benefit of approximately 150 basis points from changes in foreign exchange rates.

On the business front, Vertex established a fourth commercial pillar in rare endocrine diseases with the closing of the Crinetics acquisition. The company is preparing to establish a fifth commercial franchise in renal medicine with povetacicept, which has a Prescription Drug User Fee Act (PDUFA) target action date of November 30, 2026. Regarding pipeline programs, Vertex reported positive data from a Phase 1 study of next-generation CFTR corrector VX-828 and remains on track to complete enrollment in Phase 3 studies of suzetrigine for diabetic peripheral neuropathy by the end of 2026.