Vertex Pharmaceuticals (NASDAQ:VRTX) reported a Q1 revenue miss, with sales of cystic fibrosis drug Trikafta rising just 2% to $2.53 billion—below analysts’ expectations of $2.58 billion, per LSEG. The shortfall pushed shares down 2.5% after hours.
Despite the miss, Vertex raised the lower end of its 2024 revenue forecast, banking on:

? Early traction from new pain drug Journavx, with 20,000+ prescriptions since March

? The recent FDA approval of once-daily Alyftrek for a rare genetic disorder

? Early-stage rollouts of gene therapy Casgevy for blood disorders, with 90 patients already starting cell collection

BMO Capital’s Evan Seigerman noted the revenue gap will intensify scrutiny on the execution of Journavx’s rollout, despite its strong prescription count.

? What to Watch: Revenue Trends & R&D Momentum
With CF still a key growth pillar, investors are keeping a close eye on Vertex’s ability to convert prescriptions into revenue. You can dive deeper into these dynamics using Revenue Product Segmentation, which breaks down revenue by drug and business line—ideal for tracking Trikafta vs. newer launches like Alyftrek.
Also, Vertex’s pipeline performance and R&D investments are key to sustaining long-term growth. Analysts often monitor innovation cycles through Financial Growth data, including YoY changes in R&D spend and revenue impact.

? Bottom Line
Vertex is expanding beyond its CF foundation. But execution on new launches like Journavx—and revenue pull-through—will be critical to justifying its bullish long-term narrative.