Vertex Pharmaceuticals Incorporated (VRTX), a pharmaceutical company pioneering in the field of Cystic Fibrosis (CF), reported solid third-quarter results as the company saw progress in its R&D pipeline. Its net product revenues increased 6.4% year-over-year to $2.48 billion, while its non-GAAP net income per common share came in at $4.08, up 1.7% from the prior-year period.
The company also raised its fiscal year 2023 CF product revenues from $9.7 billion-$9.8 billion to approximately $9.85 billion. Moreover, famed investor Jim Cramer sees significant potential for VRTX’s pain drug VX-548, which is undergoing its late-stage trials.
