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Vertex issues revenue outlook for cystic fibrosis treatments
January 9, 2017 / 1:47 AM / a year ago

Vertex issues revenue outlook for cystic fibrosis treatments

(Reuters) - Vertex Pharmaceuticals Inc (VRTX.O) said on Sunday that it expected full-year 2017 revenue from its Orkambi cystic fibrosis treatment of $1.1 billion to $1.3 billion and revenue from its Kalydeco treatment of $690 million to $710 million.

The company provided the outlook in a news release ahead of a presentation on Monday at the annual JPMorgan healthcare conference in San Francisco.

The outlook for Orkambi appeared to be below expectations of brokerage firm analysts but closer to levels anticipated by institutional investors, Evercore ISI analyst John Scotti said in a research note after the announcement.

    The company said it expected later this month to report fourth-quarter Orkambi revenue of about $276 million.

    If that sales rate continues, the company will achieve at least the low end of its 2017 forecast, analysts at RBC Capital Markets said in a note.

    Vertex said it expected the number of people using its cystic fibrosis medicines to increase in 2017 and generate data that will be used in treating the underlying cause of the disease.

    Reporting by David Henry in New York and Deena Beasley in Los Angeles.; Editing by Lisa Von Ahn

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