Vertex raises revenue forecast on CF strength

Vertex Pharmaceuticals raised the upper end of its annual revenue forecast on August 3, 2026, citing robust demand for its cystic fibrosis treatments. The company now expects 2026 revenue between $13.1 billion and $13.2 billion, up from a prior range of $12.95 billion to $13.1 billion, and above the average analyst estimate of $13.07 billion. The updated outlook excludes the pending $10 billion acquisition of Crinetics Pharmaceuticals, which is expected to close in the third quarter. Vertex reported second-quarter revenue of $3.33 billion, up 12% year-over-year and beating estimates of $3.23 billion. Sales of its newer cystic fibrosis drug Alyftrek surged to $573.6 million from $156.8 million a year earlier, while sales of its older drug Trikafta came in at $2.50 billion, missing estimates of $2.65 billion. Adjusted earnings per share were $4.73, in line with expectations. CEO Reshma Kewalramani highlighted that the Crinetics acquisition would add rare endocrine diseases as the fifth pillar of Vertex's portfolio, complementing its existing focus on cystic fibrosis, sickle cell disease, beta thalassemia, and acute pain.