VERTEX PHARMACEUTICALS INC MA

For the period ended Jun 30, 2024. Filed Aug 2, 2024.

About 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.

Jun 30, 2024 · Filed Aug 2, 2024

VRTX$550.87+0.7%Stored close · as of Nov 9, 2026

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Contents

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 June 30,		Six Months Ended June 30,
	2024	2023	2024	2023
Product revenues, net	$2,645.6	$2,493.2	$5,336.2	$4,868.0
Costs and expenses:
Cost of sales	371.9	308.6	714.5	575.5
Research and development expenses	966.6	785.7	1,755.7	1,528.3
Acquired in-process research and development expenses	4,449.1	110.5	4,525.9	457.6
Selling, general and administrative expenses	372.2	262.6	714.9	503.7
Change in fair value of contingent consideration	0.5	(0.6)	0.4	(2.5)
Total costs and expenses	6,160.3	1,466.8	7,711.4	3,062.6
(Loss) income from operations	(3,514.7)	1,026.4	(2,375.2)	1,805.4
Interest income	156.5	144.7	337.7	267.3
Interest expense	(9.9)	(11.2)	(20.3)	(22.6)
Other (expense) income, net	(23.1)	1.6	(54.3)	2.9
(Loss) income before provision for income taxes	(3,391.2)	1,161.5	(2,112.1)	2,053.0
Provision for income taxes	202.4	245.8	381.9	437.5
Net (loss) income	$(3,593.6)	$915.7	$(2,494.0)	$1,615.5
Net (loss) income per common share:
Basic	$(13.92)	$3.55	$(9.66)	$6.27
Diluted	$(13.92)	$3.52	$(9.66)	$6.21
Shares used in per share calculations:
Basic	258.1	257.7	258.1	257.6
Diluted	258.1	260.4	258.1	260.3

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.