Vertex said full-year 2023 product revenue was $9.87 billion, up 11% from 2022. The company cited growth in TRIKAFTA/KAFTRIO sales outside the U.S. and TRIKAFTA sales in the U.S. as the main drivers.

1. 01

   Vertex said full-year 2023 product revenue was $9.87 billion, up 11% from 2022. The company cited growth in TRIKAFTA/KAFTRIO sales outside the U.S. and TRIKAFTA sales in the U.S. as the main drivers.

2. 02

   Vertex said combined GAAP R&D, Acquired IPR&D and SG&A expenses for full-year 2023 rose to $4.83 billion, up from $3.60 billion in 2022. GAAP net income increased 9%, which the company attributed mainly to higher interest income and lower taxes.

3. 03

   Vertex said cash, cash equivalents and total marketable securities as of December 31, 2023 were $13.7 billion, up from $10.9 billion as of December 31, 2022. The company cited income from operations and interest income as drivers of the increase, partly offset by income tax payments and share repurchases.

4. 04

   Vertex gave full-year 2024 product revenue guidance of $10.55 billion to $10.75 billion. The company said the guidance includes expectations for continued growth in CF and the launch of CASGEVY in approved indications and geographies.

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Original filing

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