UK (Commonwealth) _ Sales of the revolutionary cystic fibrosis medication Kaftrio were the primary factor in Vertex Pharmaceuticals’ $2.3 billion (€2.07 billion) in revenue last year.
The Dublin-registered Vertex Pharmaceuticals (Ireland) Ltd.’s revenues rose by 18% from $1.95 billion to $1.95 billion last year, according to new financial records. The Irish company currently offers a suite of cystic fibrosis medications, including Kalydeco and Orkambi, within the European Union and fulfills all sales within the EU.
Currently, three-quarters of the 92,000 individuals with cystic fibrosis in North America, Europe, and Australia are being treated with the company’s four primary drugs. Pre-tax earnings at the firm rose by 56% to $13.7 million against the backdrop of the Dublin arm’s significant revenue rise.
Kaftrio/Trikata revenues for Vertex amounted for 80.6 percent, or $8.8 billion, of the company’s $9.89 billion in global sales, of which the Irish-based division accounted for 23.4 percent. The Irish company pays $1.3 million in personnel costs last year and has six employees. That included $941,000 in wage costs, $253,000 in share-based benefits, and $113,000 in social security expenses.
According to the Dublin unit’s directors, the firm, Vertex Pharmaceuticals Inc. and related businesses also increased younger European age groups’ access to the group’s portfolio of cystic fibrosis medications during the year.
Vertex anticipates higher global sales this year due to the ongoing success of Kaftrio/Trikata, label expansion into younger age ranges for previously authorized medications, and increased accessibility. In 2023, the Irish company’s directors did not be paid. Nonetheless, Reshma Kewalramani, the CEO of Vertex’s international business, received a salary of $20.59 million last year.
$425.94 million in shareholder money were on hand at the end of December. $262 million was raised in cash. Patients with cystic fibrosis, a genetic condition that severely affects the lungs, digestive system, and other organs, are treated with the medication Kaftrio if they are two years of age or older.
Several mutations (alterations) in the gene encoding the protein known as the “cystic fibrosis transmembrane conductance regulator” (CFTR) can result in cystic fibrosis. This gene is inherited in two copies by each parent; sickness only arises from a mutation in one copy of the gene.
In individuals whose cystic fibrosis is caused by at least one F508del mutation in the CFTR gene, kaftrio is administered in conjunction with ivacaftor. Kaftrio was named “orphan medicine” on December 14, 2018, in recognition of the rarity of cystic fibrosis. The active ingredients in Kaftrio are ivacaftor, tezacaftor, and elexacaftor.
For the treatment of cystic fibrosis (CF) in individuals aged 6 years and older with at least one F508del mutation in the cystic fibrosis transmembrane conductance regulator (CFTR) gene, kaftrio is recommended in conjunction with ivacaftor.
For the treatment of cystic fibrosis (CF) in pediatric patients with a minimum of one F508del mutation in the cystic fibrosis transmembrane conductance regulator (CFTR) gene, kaftrio granules are recommended in conjunction with ivacaftor. These individuals range in age from 2 to less than 6 years.
Patients with cystic fibrosis, a genetic condition that severely affects the lungs, digestive system, and other organs, are treated with the medication Kaftrio if they are two years of age or older.
Several mutations (alterations) in the gene encoding the protein known as the “cystic fibrosis transmembrane conductance regulator” (CFTR) can result in cystic fibrosis. This gene is inherited in two copies by each parent; sickness only arises from a mutation in one copy of the gene.
In individuals whose cystic fibrosis is caused by at least one F508del mutation in theCFTR gene, kaftrio is administered in conjunction with ivacaftor. Kaftrio was named a “orphan medicine” on December 14, 2018, in recognition of the rarity of cystic fibrosis. The active ingredients in Kaftrio are ivacaftor, tezacaftor, and elexacaftor.
American biopharmaceutical business Vertex Pharmaceuticals Incorporated is situated in Boston, Massachusetts. It was among the first biotech companies to openly adopt rational drug design as a technique in place of combinatorial chemistry. It has three research centers in Milton Park, Oxfordshire, England, and San Diego, California, in addition to its headquarters in South Boston, Massachusetts.
For the treatment of cystic fibrosis (CF) in individuals aged 6 years and older with at least one F508del mutation in the cystic fibrosis transmembrane conductance regulator (CFTR) gene, kaftrio is recommended in conjunction with ivacaftor.
