Vertex Pharmaceuticals Incorporated’s (VRTX Quick QuoteVRTX - Free Report) first-quarter results were weak as it missed estimates for both earnings and sales. The company’s total revenues of $2.77 billion rose 3% year over year, driven by higher sales of its triple combination cystic fibrosis (CF) therapy Trikafta/Kaftrio and an early contribution from the U.S. launch of Alyftrekt. Trikafta sales rose 9% in the quarter.

While sales rose 9% in the United States, in outside U.S. markets, sales decreased 5%, hurt by the availability of an illegal copy of Trikafta in Russia, where Vertex is experiencing a violation of its intellectual property rights.

Vertex raised the low end of its total revenue guidance by $100 million from $11.75-$12 billion to $11.85-$12 billion.

Though Vertex revenues come mostly from its CF franchise, investor focus on the first-quarter call was on the performance of its newer drugs, which were approved in the past year.

Vertex gained approval for two new products, its novel non-opioid pain medicine Journavx (suzetrigine) and its fifth CF medicine, Alyftrek, in the last few months. Vertex and partner CRISPR Therapeutics’ (CRSP Quick QuoteCRSP - Free Report) one-shot gene therapy, Casgevy, was approved for two blood disorders, sickle cell disease and transfusion-dependent beta-thalassemia, in multiple regions in late 2023/early 2024.

However, sales from its new drugs, Casgevy, Alyftrek and Journavx, fell short of investor expectations, which, coupled with the disappointing first-quarter results, led VRTX stock to decline 10% on Tuesday.

Year to date, shares of Vertex have risen 11.8% against the industry’s decrease of 2.2%.

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Let’s dig deeper to understand how these new products performed in the first quarter and the company’s outlook for the same through the rest of the year.

Vertex’s New Product Sales Fall Short in Q1

Alyftrek (vanza triple), a next-in-class triple combination regimen for treating people with CF aged six years and older, was approved in the United States in December 2024 and in the United Kingdom in April 2025. Vertex’s regulatory application for vanza triple is also under review in the EU and some other countries. In April, the European Medical Agency’s (EMA’s) Committee for Medicinal Products for Human Use (CHMP) gave a positive opinion recommending approval of Alyftrek. Vertex expects Alyftrek’s approval in Europe in the second half of 2025.

This new once-a-day oral combination medicine has the potential for enhanced patient benefit over Trikafta and to become a new standard-of-care treatment in CF. It can potentially treat CF patients who have discontinued Trikafta or other Vertex CF medicines. It can improve dosing (once daily), lower the royalty burden and extend patent protection.

The drug generated sales of $53.9 million in its first quarter of launch. Vertex said it is seeing a steady uptake from all patient groups who are eligible for treatment with Alyftrek, including new patients and patients looking to switch from Trikafta. However, the switch from Trikafta to Alyftrek was slower than expected. Alyftrek’s sales fell short of most analysts’ expectations.

Journavx (suzetrigine), Vertex’s non-opioid NaV1.8 pain signal inhibitor, was approved for the treatment of moderate-to-severe acute pain in January 2025. Vertex said Journavx’s contribution to total revenues was “insignificant” in the first quarter as the drug was launched in mid-March. However, many analysts believe that the Journavx launch progress has been slower than expected.

Journavx sales are expected to pick up in the second half of the year as the product’s uptake accelerates through patient assistance and supply/stocking initiatives in the first half.

Vertex and partner CRISPR’s one-shot gene therapy, Casgevy, contributed $14.2 million in sales in the first quarter compared with $8 million in the previous quarter. However, Casgevy sales also fell short of expectations of some analysts.

The company now has more than 65 activated authorized treatment centers or ATCs in all regions where the therapy is approved. More than 90 patients have initiated cell collection. Vertex is also making rapid progress for the drug’s access and reimbursement. Vertex expects Casgevy revenues to ramp up as the year progresses, as more patients are treated in geographies where the drug has secured regulatory approval and reimbursement.

Vertex leads the global development and commercialization of Casgevy under the terms of the 2021 agreement with support from CRISPR Therapeutics.

VRTX’s Rapidly Progressing Pipeline

Vertex is rapidly advancing its diverse late-stage pipeline with four programs in pivotal development, including povetacicept added from last year’s Alpine Immune Sciences acquisition. Vertex believes povetacicept has a “pipeline in a product” potential. The other three candidates in pivotal development are suzetrigine in diabetic peripheral neuropathy, semelocell in type I diabetes and inaxaplin in APOL1-mediated kidney disease.

Three of these phase III programs are on track to complete enrollment this year, setting the stage for several potential regulatory filings next year and potential new drug approvals in a couple of years.

However, on the call, Vertex said it is temporarily pausing the multiple ascending dose portion of the phase I/II study of its mRNA therapeutic, VX-522, which it is developing in partnership with Moderna (MRNA Quick QuoteMRNA - Free Report) due to tolerability issues. In partnership with Moderna, Vertex is developing VX-522 for approximately 5,000 people with CF who do not make the CFTR protein and who cannot benefit from its CFTR modulators. A single ascending dose portion of a phase I/II clinical study on VX-522 is complete.

VRTX’s Zacks Rank

Vertex currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.