VERTEX PHARMACEUTICALS INC MA
For the period ended Mar 31, 2025. Filed May 6, 2025.
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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, 2025 · Filed May 6, 2025
VRTX$547.89-0.5%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Income -
(unaudited; in millions, except per share amounts)
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Revenues: | ||
| Product revenues, net | $2,760.2 | $2,690.6 |
| Other revenues | 10.0 | — |
| Total revenues | 2,770.2 | 2,690.6 |
| Costs and expenses: | ||
| Cost of sales | 363.0 | 342.6 |
| Research and development expenses | 979.7 | 789.1 |
| Acquired in-process research and development expenses | 19.8 | 76.8 |
| Selling, general and administrative expenses | 396.4 | 342.7 |
| Intangible asset impairment charge | 379.0 | — |
| Change in fair value of contingent consideration | 2.2 | (0.1) |
| Total costs and expenses | 2,140.1 | 1,551.1 |
| Income from operations | 630.1 | 1,139.5 |
| Interest income | 120.9 | 181.2 |
| Interest expense | (3.0) | (10.4) |
| Other expense, net | (17.6) | (31.2) |
| Income before provision for income taxes | 730.4 | 1,279.1 |
| Provision for income taxes | 84.1 | 179.5 |
| Net income | $646.3 | $1,099.6 |
| Net income per common share: | ||
| Basic | $2.52 | $4.26 |
| Diluted | $2.49 | $4.21 |
| Shares used in per share calculations: | ||
| Basic | 256.9 | 258.2 |
| Diluted | 259.5 | 261.1 |
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