Health · Pharma & Biotech · 2 hrs ago
Vertex reports higher revenue and prepares for kidney drug decision
Vertex reported $3.44 billion in revenue from July through September, up 12% from the same period a year earlier.
The drugmaker’s business remains heavily reliant on cystic fibrosis medicines, which brought in more than 95% of its revenue.
Sales of its newer cystic fibrosis drug Alyftrek and its sickle cell treatment Casgevy beat analyst expectations, while Journavx sales were lower than expected.
Vertex raised its annual revenue forecast to $13.15 billion to $13.25 billion, although its earnings per share fell short of forecasts and its shares declined.
Investors are also watching povetacicept, Vertex’s first kidney drug, which could receive FDA approval by the end of November for IgA nephropathy, a rare, progressive disease.
Vertex says its launch team is hired and trained, but concerns include a petition asking the FDA to require safety monitoring and the challenge of making the drug’s planned at-home injection.
The FDA’s decision will determine whether Vertex can begin launching the drug, which the company sees as a potential new source of growth.
Vertex Pharmaceuticals reported $3.44 billion in revenue for July through September, up 12% from the same period a year earlier.
More than 95% of the revenue came from cystic fibrosis medicines, while Alyftrek generated $706 million.
Vertex slightly raised its annual revenue guidance to $13.15 billion to $13.25 billion.
The company said its team was ready to launch povetacicept if the FDA approves it for IgA nephropathy.
The FDA could decide on the kidney drug by the end of November, while a petition has asked the agency to require safety monitoring.
- Who
- Vertex Pharmaceuticals, which reported its quarterly results and discussed its kidney drug.
- What
- Vertex reported higher revenue and raised its annual revenue guidance. It also said it was ready to launch povetacicept if approved.
- When
- The results were reported on November 3, 2026. The FDA could decide on povetacicept by the end of November.
- Where
- Not stated
- Why
- Revenue increased, led by cystic fibrosis medicines. Vertex is preparing for a possible FDA decision on povetacicept as a treatment for IgA nephropathy.
This story does not have two clearly opposing sides.
Many members of Vertex’s povetacicept field team began engaging with and educating nephrologists about the disease.
Vertex recorded $3.44 billion in revenue, up 12% from the same period a year earlier.
A citizen’s petition asked the FDA to require regular monitoring of antibody levels for patients taking povetacicept and to provide guidance for managing low levels.
Vertex slightly raised its annual revenue guidance to $13.15 billion to $13.25 billion.
The FDA could decide whether to approve povetacicept for IgA nephropathy.
- Quarterly revenue
- $3.44 billion
- Year-over-year revenue growth
- 12%
- Alyftrek revenue
- $706 million
- Annual revenue guidance
- $13.15 billion to $13.25 billion
- Potential FDA decision
- By the end of November
- Povetacicept indication
- IgA nephropathy
What people are saying
fully hired, trained and ready to go
we are 100% ready
underscores one of the steadiest, high-margin, and likely most durable core large biopharma franchises
Given that this was arguably one of the last opportunities to potentially reset expectations around approval or the label ahead of the [decision deadline], management's repeated expressions of confidence should be viewed as strongly encouraging