Reuters Vertex Pharmaceuticals beat Wall Street estimates for firstquarter profit on Monday, driven by robust uptake for its blockbuster cystic fibrosis treatments.
Cystic fibrosis CF an inherited disorder that causes severe damage to the lungs, digestive system and other organs affects an estimated 105,000 people across 94 countries, according to data from U.S.based CF Foundation.
Vertex reported adjusted earnings per share of 4.76 on revenue of 2.69 billion, topping market estimates 4.06 on revenue of 2.58 billion, according to LSEG data, for the quarter ended March 31.
The drugmaker reiterated its annual revenue forecast of between 10.55 billion and 10.75 billion.
The total product revenue guidance includes expectations around contribution in the second half of the year from the commercial launch of Casgevy in approved indications and geographies, CFO Charles Wagner said on an earnings conference call.
The Boston, Massachusettsbased company39;s gene therapy, branded as Casgevy, earlier this year earned a second U.S. approval to treat a rare blood disorder requiring regular blood transfusions, after it was greenlighted in December for sickle cell disease.
As of midApril, Vertex said it activated more than 25 authorized treatment centers globally and multiple patients across all regions, where it has approval, have initiated cell collection. Five patients have already had cells collected.
The company codeveloped Casgevy with SwissAmerican firm CRISPR…