Vertex Earnings Miss, Revenue Beats In Q4 By Investing.com

By Yasin Ebrahim

Vertex (NASDAQ:VRTX) reported Monday mixed fourth-quarter results as earnings missed, but revenue topped expectations.

Vertex was down about 1% following the news.

Vertex announced earnings per share of $2.51 on revenue of $1.63 billion. Analysts polled by Investing.com anticipated EPS of $2.55 on revenue of $1.58 billon.

Looking ahead to 2021, the company guided product revenue in the range of $6.7 billion to $6.9 billion.

Revenue was primarily driven by “the uptake of TRIKAFTA in the U.S., KAFTRIO in Europe and our other medicines outside the U.S. following the completion of several significant reimbursement agreements,” the company said.

“[T]he approval of TRIKAFTA for children with CF ages 6-11 in the U.S. [is] expected mid-year,” the company added.

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