Full Year 2023 Financial Guidance
Vertex today reiterated its full year 2023 financial guidance, including CF product revenue guidance of $9.55 to $9.7 billion. Vertex’s CF product revenue guidance includes expectations in the U.S. for continued performance of TRIKAFTA in ages 6+ and the launch of TRIKAFTA in the 2-5 age group, as well as continued uptake of KAFTRIO/TRIKAFTA in ages 6+ in countries outside the U.S., including those with recent reimbursement agreements. This guidance includes an approximately 150-basis-point negative impact from changes in foreign currency rates, inclusive of our foreign exchange risk management program.
Vertex’s financial guidance is summarized below:
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Current FY 2023 |
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Previous FY 2023 |
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CF product revenues |
Unchanged |
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$9.55 to $9.7 billion |
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Combined GAAP R&D, Acquired IPR&D and SG&A expenses (2) |
Unchanged |
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$4.35 to $4.6 billion |
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Combined Non-GAAP R&D, Acquired IPR&D and SG&A expenses (2) |
Unchanged |
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$3.9 to $4.0 billion |
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Non-GAAP effective tax rate |
Unchanged |
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21% to 22% |
