VERTEX PHARMACEUTICALS INC MA
For the period ended Mar 31, 2024. Filed May 7, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
VRTX$550.87+0.7%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Financial Statements (unaudited)Condensed Consolidated Statements of Income -
Condensed Consolidated Statements of Income
(in millions, except per share amounts)(unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Product revenues, net | $2,690.6 | $2,374.8 |
| Costs and expenses: | ||
| Cost of sales | 342.6 | 266.9 |
| Research and development expenses | 789.1 | 742.6 |
| Acquired in-process research and development expenses | 76.8 | 347.1 |
| Selling, general and administrative expenses | 342.7 | 241.1 |
| Change in fair value of contingent consideration | (0.1) | (1.9) |
| Total costs and expenses | 1,551.1 | 1,595.8 |
| Income from operations | 1,139.5 | 779.0 |
| Interest income | 181.2 | 122.6 |
| Interest expense | (10.4) | (11.4) |
| Other (expense) income, net | (31.2) | 1.3 |
| Income before provision for income taxes | 1,279.1 | 891.5 |
| Provision for income taxes | 179.5 | 191.7 |
| Net income | $1,099.6 | $699.8 |
| Net income per common share: | ||
| Basic | $4.26 | $2.72 |
| Diluted | $4.21 | $2.69 |
| Shares used in per share calculations: | ||
| Basic | 258.2 | 257.4 |
| Diluted | 261.1 | 260.3 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.