Vertex Pharmaceuticals Incorporated (VRTX)

Vertex reported second-quarter 2026 total revenues of $3.3 billion, up from $3.0 billion a year earlier, mainly from its cystic fibrosis medicines and growth in other disease areas 1.

Net income in the quarter was $1,099.8 million, and cash and marketable securities stood at $13.6 billion on 30 June 1.

Vertex completed its purchase of Crinetics Pharmaceuticals on 1 September 2026, a deal of about $10 billion in equity value, as Pulse reported from the company's announcement 9.

The purchase adds PALSONIFY, a daily pill for acromegaly (a hormone disorder caused by a pituitary tumor), and atumelnant, which is in Phase 3 testing for congenital adrenal hyperplasia 9.

The FDA has set 30 November 2026 as its target date to decide on povetacicept for IgA nephropathy, a serious kidney disease 1.

Daniel Brennan, a former chief financial officer of Boston Scientific, joined the board on 20 October 2026, which now has eleven members 6.

Vertex was incorporated in Massachusetts in 1989 3.

Its record of approvals before the cystic fibrosis era includes INCIVEK (telaprevir) for hepatitis C, and it later won approval for the four cystic fibrosis medicines KALYDECO, ORKAMBI, SYMDEKO and TRIKAFTA 3.

Total revenues rose from $1.7 billion in 2016 to $3.0 billion in 2018 and $4.2 billion in 2019 3.

The company lost $112 million in 2016, then earned $2.1 billion in 2018, a year that included an income tax benefit of $1.5 billion 3.

The turning point was TRIKAFTA, approved in the United States in 2019 and, as KAFTRIO, in the European Union in 2020 3.

Revenue reached $6.2 billion in 2020, which the company tied to the launch of TRIKAFTA in 2019, the launch of KAFTRIO in 2020 and growing use abroad 3.

Leadership changed in April 2020: Jeffrey Leiden, chief executive from 2012, became executive chairman, and Reshma Kewalramani became chief executive 2.

Vertex also reached beyond cystic fibrosis: in 2017 it signed a joint development agreement with CRISPR Therapeutics, which led to the gene-editing medicine CASGEVY 2.

The FDA approved CASGEVY in December 2023 as one of the first cell-based gene therapies for sickle cell disease in patients 12 and older, and the first to use genome editing 7.

In 2024 Vertex bought Alpine Immune Sciences for about $5.0 billion, gaining povetacicept, and the FDA approved ALYFTREK for people with cystic fibrosis aged 6 and older 2.

The FDA approved JOURNAVX on 30 January 2025 as the first drug in a new class of non-opioid pain medicines 8.

Total revenues grew from $9,869.2 million in 2023 to $11,020.1 million in 2024 and $12,001.3 million in 2025, with demand for TRIKAFTA/KAFTRIO and the new launches named as the cause 2.

Cystic fibrosis medicines

Vertex sells five medicines that treat the cause of cystic fibrosis, an inherited lung disease, and TRIKAFTA/KAFTRIO is the largest, with $10,312.7 million of 2025 revenue 12.

Cystic fibrosis medicines brought in $6,122.9 million in the first half of 2026, up 8 percent, and ALYFTREK is now reimbursed in 25 countries 1.

CASGEVY

CASGEVY treats severe sickle cell disease and transfusion dependent beta thalassemia, two inherited blood disorders, and brought in $76.4 million in the second quarter of 2026 1.

The FDA extended CASGEVY to children aged two and older, which the company says may make about 5,500 more patients eligible 1.

Net profits and losses from CASGEVY are split 60 percent to Vertex and 40 percent to CRISPR 2.

JOURNAVX

JOURNAVX (suzetrigine) is a pill for moderate-to-severe acute pain that works on pain signals outside the brain, and it recorded $49.6 million in the second quarter of 2026 18.

About 535,000 prescriptions were filled in the quarter, and about 260 million people have reimbursed access through insurers and government plans 1.

Rare endocrine medicines

Since 1 September 2026 Vertex also owns PALSONIFY, which launched in the United States and has European approval, as Pulse reported 9.

Money, people and places

In the first half of 2026 the United States brought in $3,832.3 million of revenue and outside the United States $2,488.5 million 1.

Selling and administrative costs rose 37 percent in the quarter as Vertex built up the launches of its new products 1.

Vertex had about 6,400 employees at the end of 2025 and leases about 1.1 million square feet at its Boston headquarters 2.

Reshma Kewalramani is chief executive, and Jeffrey Leiden is executive chairman 2.

Jonathan Poole will become chief financial officer on 1 January 2027, and Charles Wagner stays chief operating officer 5.

Vertex relies on a global network of outside manufacturers, some in China, which is a risk to supply 1.

The umbrella, in words

Vertex owns Alpine Immune Sciences outright after its 2024 purchase, and it owns Crinetics outright since the 2026 closing 29.

It has agreed to collaborations with CRISPR Therapeutics, Moderna (messenger RNA for cystic fibrosis, 2016) and Entrada Therapeutics (2022) 2.

The Crinetics merger agreement was signed on 6 July 2026 and the deal closed on 1 September 2026 49.

It owns about 213,000 square feet at a continuous manufacturing site in Massachusetts and leases the rest of its space 2.

The FDA has set 30 November 2026 as its target date to decide on povetacicept for IgA nephropathy, and Vertex says it would be the first treatment in its kidney line 1.

Vertex expects to finish enrolling both Phase 3 trials of suzetrigine in diabetic nerve pain by the end of 2026 1.

It expects to share interim data from the inaxaplin trial for kidney disease in early 2027 1.

For its type 1 diabetes cell therapy zimislecel, Vertex expects to give updated timelines for it during 2026 1.

A second Leiden Campus building of about 348,000 square feet is expected to be operational in late 2026 2.

Vertex estimates PALSONIFY and atumelnant could bring more than $5 billion in combined annual revenue at their peak, and it expects the deal to add to non-GAAP operating income in 2029, Pulse reported 9.