Vertex Pharmaceuticals

Third quarter revenue rose 12 percent to 3.44 billion dollars, and sales outside the United States grew even faster at 16 percent. Management raised its full year forecast to 13.15 to 13.25 billion dollars. Cystic fibrosis demand is still strong, and its newest cystic fibrosis pill, ALYFTREK, is now covered in 32 countries.

The newer medicines are taking off. CASGEVY, the gene editing therapy for sickle cell disease, brought in 99 million dollars, nearly six times what it made a year ago. JOURNAVX, the non-opioid pain pill, nearly tripled to 58 million dollars with more than 750,000 prescriptions filled, and it is now the most prescribed brand name pain pill taken by mouth in the U.S.

Buying Crinetics was not cheap. Profit on the books fell to 654 million dollars from 1.1 billion a year ago, mostly because of about 500 million dollars in costs tied to the deal. Cash dropped to 9.8 billion dollars from 12.3 billion at the start of the year, even after Vertex borrowed 4.5 billion dollars.

Cystic fibrosis still pays almost all the bills. The sickle cell and pain medicines together are expected to bring in 500 million dollars or more out of a roughly 13.2 billion dollar year, so a stumble in the core business would hurt. Spending is climbing fast too, with full year costs now expected to reach about 7.2 billion dollars, up from an earlier plan of around 6.4 billion.