Hot Pharma stock to watch: Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX)

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Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) stock rose over 3.8% in the pre-market session of January 31st, 2020 (as of 8:03 am GMT-5; Source: Google finance) after the company posted better than expected results for fourth quarter of FY 19. The company has reported fourth-quarter net income of $583.2 million compared to $1.55 billion, in the year-ago period.

VRTX in the fourth quarter of FY 19 has reported the adjusted earnings per share of $1.70, beating the analysts’ estimates for the adjusted earnings per share of $1.21, according to analysts surveyed by FactSet. The company had reported the adjusted revenue growth of 35.9 percent to $1.41 billion in the fourth quarter of FY 19, beating the analysts’ estimates for revenue of $1.01 billion. The company’s fourth quarter total CF product revenues rose 45% to approximately $1.25 billion, that includes TRIKAFTA revenues of $420 million, making TRIKAFTA already the top-selling medicine. The company posted the operating income of operating income of $593 million for the fourth quarter 2019, which is a 70% increase compared to the fourth quarter of 2018. The fourth quarter 2019 combined R&D and SG&A expenses were $496 million, that includes the operating expenses of Exonics and Semma, compared to $400 million in the fourth quarter of 2018

Vertex expects “total product” revenue to be in the range of $5.1 billion to $5.3 billion in 2020, while analysts had forecast on revenue of $4.88 billion.

On the other hand, VRTX is making excellent progress advancing and broadening the pipeline beyond CF. In 2020, the company will be developing multiple new medicines in five diseases outside of CF. The company continues to implement the strategy of advancing a portfolio of medicines into clinical development for each of the disease areas. VRTX’s key programs include alpha-1 antitrypsin deficiency, the AAT program where the company have multiple small molecule correctors in the clinic aimed at addressing the underlying cause of disease in both the liver and the lung. These include VX-814, which has recently entered the Phase 2 of clinical development. With respect to the business development, the company has completed more transactions in 2019 than in the four prior years, that includes the acquisitions of Semma with a leading cell therapy approach for type 1 diabetes and Exonics, which is the leader in gene editing for DMD and DM1. In addition, in 2020, the company anticipates to gain approval for the triple combination in Europe in patients 12 years and older and to submit TRIKAFTA for approval in the US for children ages six to 11.

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