Vertex Pharmaceuticals Reports Strong Q4 and Full-Year 2025 Results

Company highlights revenue growth, pipeline progress, and expanding product diversification

Published on Feb. 13, 2026

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Vertex Pharmaceuticals (NASDAQ:VRTX) reported strong fourth-quarter and full-year 2025 results, with total revenue growing 10% year-over-year to $3.2 billion in Q4 and 9% to $12 billion for the full year. The company's cystic fibrosis (CF) therapies remained the largest revenue driver, with global CF revenue growth of 7% in 2025. Vertex also saw momentum for its CASGEVY therapy in sickle cell disease and transfusion-dependent beta thalassemia, as well as growing revenue from its JOURNAVX acute pain medication. The company provided 2026 guidance for total revenue of $12.95 billion to $13.1 billion, reflecting 8-9% growth.

Why it matters

Vertex's strong financial performance and pipeline progress demonstrate the company's ability to drive growth through its diversified portfolio of innovative therapies. The continued success of its CF franchise, coupled with the expansion into new disease areas like sickle cell, thalassemia, and acute pain, positions Vertex as a leader in the biopharmaceutical industry. The company's focus on research and development has yielded multiple late-stage pipeline milestones, which could further bolster its long-term growth prospects.

The details

Vertex reported fourth-quarter 2025 total revenue of $3.2 billion, up 10% year-over-year, and full-year revenue of $12.0 billion, up 9% versus 2024. Non-GAAP net income in the fourth quarter was $1.3 billion, up 24%, with earnings per share of $5.03, up 26%. For full-year 2025, non-GAAP net income was $4.7 billion and EPS was $18.40. CF therapies remained the largest revenue driver, with full-year 2025 CF revenue growth of 7% globally. In the U.S., CF revenue grew 11% year-over-year, which management attributed to pediatric uptake, continued strength in TRIKAFTA and ALYFTREK, higher realized net prices, and a modest fourth-quarter benefit from channel inventory. International CF revenue grew 2%, reflecting continued penetration of KAFTRIO and contributions from ALYFTREK where reimbursed, partly offset by a previously communicated $200 million decline in Russia sales for the year. Vertex also saw strong momentum for its CASGEVY therapy in sickle cell disease and transfusion-dependent beta thalassemia, with $116 million in revenue for the full year. The company's JOURNAVX acute pain medication generated $60 million in revenue in 2025, its first full year on the market.

  • Vertex reported fourth-quarter 2025 results on February 13, 2026.
  • For full-year 2025, Vertex reported results on February 13, 2026.

The players

Vertex Pharmaceuticals

A Boston-based biotechnology company focused on the discovery, development and commercialization of therapies for serious diseases, with a focus on cystic fibrosis, sickle cell disease, thalassemia, and acute pain.

Reshma Kewalramani

Chief Executive Officer of Vertex Pharmaceuticals.

Duncan McKechnie

Chief Commercial Officer of Vertex Pharmaceuticals.

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What they’re saying

“2025 was focused on executing multiple launches, including ALYFTREK in the U.S. and Europe, CASGEVY across the U.S., Europe, and the Middle East, and JOURNAVX in the U.S.”

— Duncan McKechnie, Chief Commercial Officer (Vertex Pharmaceuticals Earnings Call)

“We expect to more than triple JOURNAVX prescriptions in 2026 versus 2025, and as the patient support program sunsets and gross-to-net normalizes in late 2026 and early 2027, prescription growth should translate more directly into revenue growth.”

— Duncan McKechnie, Chief Commercial Officer (Vertex Pharmaceuticals Earnings Call)

What’s next

Vertex plans to double the JOURNAVX field force in the second quarter of 2026 and continue consumer engagement, including a TV campaign launched in January and piloted in select markets. The company also expects to initiate global regulatory submissions for ALYFTREK in the two- to five-year-old age group in the first half of 2026.

The takeaway

Vertex's strong financial performance and pipeline progress demonstrate the company's ability to drive growth through its diversified portfolio of innovative therapies. The continued success of its cystic fibrosis franchise, coupled with the expansion into new disease areas like sickle cell, thalassemia, and acute pain, positions Vertex as a leader in the biopharmaceutical industry and highlights the company's commitment to developing transformative treatments for patients.