May 6 (Reuters) - Vertex Pharmaceuticals ( VRTX ) beat
Wall Street estimates for first-quarter profit on Monday, driven
by robust uptake for its 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.
Sales from Vertex's top-selling CF drug Trikafta, also sold
as Kaftrio in some markets, rose more than 18% from a year
earlier to $2.48 billion in the quarter, beating analysts'
expectations of $2.38 billion.
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 Boston, Massachusetts-based company has been making
efforts to expand its product pipeline by adding new products
for different disease indications while also focusing on
development of other CF treatments.
Vertex'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. The company co-developed
Casgevy with Swiss-American firm CRISPR Therapeutics.
As of mid-April, 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.
The gene therapy maker also signed multiple agreements with
both commercial and government health insurance providers in the
U.S. to provide access to Casgevy.