Vertex Pharmaceuticals

Reports FY2025 revenue of $12.0B (+9%) and GAAP net income of $4.0B, guiding to $12.95–13.1B for 2026 including $500M+ from non-CF products, and continuing a $2.0B annual share-buyback program.

On July 1, 2026 the FDA approves expanded use of Casgevy (exa-cel) for both sickle cell disease and transfusion-dependent beta thalassemia in patients ages 2 and older - down from 12+ - making it the first gene therapy cleared for children as young as two and adding roughly 5,500 newly eligible U.S. children. Vertex and partner CRISPR Therapeutics guide Casgevy revenue to roughly triple in 2026 as authorized treatment centers scale.

On July 6, 2026 Vertex agrees to acquire endocrine-disease specialist Crinetics Pharmaceuticals for $85 per share in cash (~$10B equity value, ~$8.8B net of cash; about a 102% premium) - its largest acquisition to date. The deal adds Palsonify (paltusotine), an oral once-daily acromegaly drug approved in September 2025, plus an endocrinology pipeline (including atumelnant) the companies say could deliver $5B+ in combined peak annual revenue. Structured as a one-step merger requiring a Crinetics shareholder vote - Crinetics filed a preliminary proxy in July 2026 - plus antitrust clearances, and funded from cash on hand plus a committed $4.5B bridge facility. Closing is expected in Q3 2026 and had not yet completed as of late July.

On July 29, 2026 Vertex enters a collaboration with AbCellera to discover multispecific T-cell engagers for autoimmune diseases and other conditions. AbCellera leads early discovery on its proprietary TCE platform while Vertex funds all R&D and holds development and commercialization rights, paying AbCellera $28M upfront plus preclinical, development, regulatory and commercial milestones and tiered sales royalties.

Vertex reported Q2 2026 revenue of $3.33 billion on August 3, up 12% year over year, with net income of $1.10 billion and EPS of $4.34. The company raised full-year 2026 revenue guidance to $13.1-13.2 billion, driven partly by CASGEVY revenue growing 151% year over year to $76 million and JOURNAVX revenue roughly quadrupling to $50 million. ALYFTREK, the once-daily next-generation CF modulator, surpassed $1 billion in cumulative revenue in the first half of 2026 on rapid uptake in the US, Germany, and the UK.

Sionna Therapeutics said on August 10, 2026 that its cystic fibrosis add-on candidate SION-719 - designed to be paired with Vertex's Trikafta and the closest credible challenge to Vertex's CF franchise - missed the primary endpoint in its Phase 2a trial, and the company halted the program; Sionna's stock lost roughly 90% of its value in a day. Vertex shares rose to an all-time high on the news, underscoring how uncontested its cystic fibrosis franchise remains.

The US District Court for the District of Delaware ruled on August 24, 2026 that Lupin's proposed generic version of Vertex's cystic fibrosis drug Kalydeco (ivacaftor) does not infringe Vertex's patents. Judge Stephanos Bibas found that Lupin's formulation, containing about 74% ivacaftor, falls outside the 'about 80%' concentration range claimed in Vertex's patents, rejecting Vertex's broader interpretation of 'about.' The ruling clears a legal hurdle for Lupin, a first-to-file applicant that already holds tentative FDA approval and could gain 180 days of marketing exclusivity for the generic pending final FDA approval - the first real threat to a Vertex CF modulator's exclusivity, though Kalydeco is now an older, smaller part of the CF franchise next to Trikafta and Alyftrek.

Vertex completes its acquisition of Crinetics Pharmaceuticals on September 1, 2026 for about $10.0 billion in total equity value (~$8.8 billion net of acquired cash), adding the marketed acromegaly drug Palsonify (paltusotine) and pipeline candidate atumelnant. Vertex expands its executive leadership team to run the new business, naming Jonathan Poole EVP and Chief Financial Officer and adding Jasper van Grunsven as EVP, Chief Pain and New Product Planning Officer.

On September 4, 2026 the US Court of Appeals for the District of Columbia Circuit affirmed a lower-court finding that Vertex's program offering fertility-preservation services to Casgevy patients violates the federal Anti-Kickback Statute, treating the perk as remuneration meant to induce purchase of the gene therapy. Bloomberg Law reported the panel stopped short of affirming a separate lower-court conclusion.

Jasper van Grunsven, formerly senior vice president of Amgen's rare-disease portfolio, starts as Executive Vice President and Chief Pain and New Product Planning Officer on September 8, 2026, overseeing Journavx and global new-product planning as Vertex integrates Crinetics and expands beyond cystic fibrosis.

On January 30, 2025 the FDA approves Journavx (suzetrigine), a first-in-class oral, non-opioid NaV1.8 inhibitor for moderate-to-severe acute pain - the first genuinely new class of pain medicine in more than two decades.

At the June 2025 ADA meeting, Vertex reports that all 10 type 1 diabetes participants dosed with zimislecel became insulin-independent at one year with >90% time-in-range; the data are published in the New England Journal of Medicine.

Acquires Alpine Immune Sciences for ~$4.9B, adding povetacicept (a BAFF/APRIL inhibitor) and a broader immunology and nephrology pipeline. The one-time acquired-IPR&D charge drove a temporary GAAP net loss that year.

The FDA approves Alyftrek (vanzacaftor/tezacaftor/deutivacaftor) in December 2024, a once-daily next-in-class CFTR modulator that Vertex begins converting patients onto to extend its CF franchise.

Casgevy (exa-cel), developed with CRISPR Therapeutics, is authorized by the UK MHRA in November 2023 and approved by the FDA for sickle cell disease in December 2023 - the first CRISPR/Cas9 gene-editing therapy ever approved.

The FDA approves Trikafta (elexacaftor/tezacaftor/ivacaftor), a triple-combination modulator that is effective for roughly 90% of CF patients and becomes Vertex's revenue engine.

Buys Semma Therapeutics for ~$950M, entering stem-cell-derived islet therapy for type 1 diabetes - the program that became zimislecel (VX-880).

Launches Orkambi, its first CFTR combination therapy, and forms a gene-editing partnership with CRISPR Therapeutics that would later produce Casgevy.

The FDA approves Kalydeco (ivacaftor), the first medicine to treat the underlying cause of cystic fibrosis rather than just its symptoms, and the first CFTR potentiator.

Goes public on NASDAQ under ticker VRTX, funding an early pipeline that spanned HIV and hepatitis C before its pivot to cystic fibrosis.

Joshua Boger and Kevin Kinsella found Vertex in Cambridge, Massachusetts, to transform the treatment of serious diseases through rational, structure-based drug design.