Based on these judgments and estimates, the fair value of the goodwill that we record as a result of these business combinations may be material.

Decreases in revenues for our products other than TRIKAFTA/KAFTRIO were primarily the result of patients switching from these medicines to TRIKAFTA/KAFTRIO.

Data obtained from nonclinical and clinical activities at any step in the testing process may be adverse and lead to discontinuation or redirection of development activities.

Negative covenants in our credit agreement could prohibit or limit our ability to access this source of liquidity.

Financial HighlightsRevenuesIn 2022, our net product revenues increased to $8.9 billion as compared to $7.6 billion in 2021, primarily due to the strong uptake of TRIKAFTA/KAFTRIO in multiple countries internationally and continued steady performance of TRIKAFTA in the U.S., following the June 2021 launch of TRIKAFTA for children with CF 6 through 11 years of age.

We aim to rapidly follow our first-in-class therapies that achieve proof-of-concept with potential best-in-class candidates to provide durable clinical and commercial success.

In March 2022, we announced positive Phase 2 data for VX-548, a NaV1.8 inhibitor, for treatment of acute pain.

We will continue to manage our capital structure and will consider all financing opportunities, whenever they may occur, that could strengthen 75our long-term liquidity profile.

In the U.S., we have worked successfully with third-party payors to promptly obtain appropriate levels of reimbursement for our CF medicines.

Our CF strategy involves continuing to develop and obtain approval and reimbursement for treatment regimens that will provide benefits to all people with CF and increasing the number of people with CF eligible and able to receive our medicines, including through label expansions, expanded reimbursement, and the development of new medicines.

Our strategy is to combine transformative advances in the understanding of causal human biology and the science of therapeutics to discover and develop innovative medicines.

We have initiated a Phase 1 clinical trial for VX-634, which is the first in a series of next-wave investigational molecules with significantly improved potency and drug-like properties as compared to our previous AAT correctors, allowing potential exploration of the full dose response.•We initiated a second Phase 2 clinical trial of VX-864, a first-generation AAT corrector, to assess the impact of longer-term treatment on the liver, as well as the levels of functional AAT in the plasma.

OVERVIEWWe are a global biotechnology company that invests in scientific innovation to create transformative medicines for people with serious diseases, with a focus on specialty markets.

VRTX

Vertex Pharmaceuticals, Inc. is an American biopharmaceutical company based in Boston, Massachusetts. It was one of the first biotech firms to use an explicit strategy of rational drug design rather than combinatorial chemistry. It maintains headquarters in South Boston, Massachusetts, and three research facilities, in San Diego, California, and Milton Park, near Oxford, England. Vertex was founded in 1989 by Joshua Boger and Kevin J. Kinsella.

Vertex Pharmaceuticals Incorporated engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 12 years of age or older who have at least one F508del mutation in the cystic fibrosis transmembrane conductance regulator, or CFTR, gene. Its pipeline includes Pipeline for Alpha-1 antitrypsin deficiency that is in Phase 2 clinical trial; VX-864, a second investigational small molecule corrector for the treatment of AAT deficiency, which is in Phase 1 clinical trial; and VX-147 that completed a Phase 1 clinical trial for the treatment of APOL1-mediated focal segmental glomerulosclerosis, or FSGS, and other serious kidney diseases. The company sells its products primarily to specialty pharmacy and specialty distributors in the United States, as well as specialty distributors and retail chains, and hospitals and clinics internationally. Vertex Pharmaceuticals Incorporated has collaborations with CRISPR Therapeutics AG; Arbor Biotechnologies, Inc.; Moderna, Inc.; Genomics plc; Merck KGaA; Darmstadt, Germany; X-Chem, Inc.; Janssen Pharmaceuticals, Inc.; Merck KGaA; Kymera Therapeutics; Ribometrix, Inc.; Molecular Templates, Inc.; and Affinia Therapeutics. The company was founded in 1989 and is headquartered in Boston, Massachusetts.

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Vertex (VRTX) signs a collaboration agreement with TreeFrog to utilize the latter's C-Stem technology in order to optimize the production of its T1D cell therapies.

Vertex (VRTX), TreeFrog Sign Deal for Diabetes Cell Therapies

Vertex Pharmaceuticals Just Made 2 Big Moves. Is the Stock a Buy?

Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) and TreeFrog Therapeutics today announced that Vertex has obtained an exclusive license to TreeFrog's proprietary cell manufacturing technology, C-StemTM, to optimize production of Vertex's cell therapies for type 1 diabetes (T1D). TreeFrog and Vertex will collaborate to scale-up TreeFrog's process to produce and amplify cells for Vertex's T1D therapies.

VERTEX AND TREEFROG THERAPEUTICS ANNOUNCE LICENSING AGREEMENT AND COLLABORATION TO OPTIMIZE PRODUCTION OF VERTEX'S CELL THERAPIES FOR TYPE 1 DIABETES

In this article, we discuss the 10 best performing biotech ETFs in 2024. If you want to skip our detailed introduction to the biotech industry and just want to take a look at some more ETFs, go directly to the 5 Best Performing Biotech ETFs in 2024. Biotechnology is a challenging field, not ideal for […]

10 Best Performing Biotech ETFs in 2024

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Lifecycle acquires a 20,000 square foot manufacturing facility on 13 acres to be used as a biopharmaceutical and biotechnology production and development campus Lifecycle Biotechnologies announced today that is has acquired a 20,000 square foot manufacturing facility on 13 acres in Cleburne, Texas to be used as a biopharmaceutical and ...

Lifecycle Biotechnologies Announces Investment in a Biotechnology Campus in Cleburne, Texas

Yet another biotech has joined the fray against the novel coronavirus: Alnylam Pharmaceuticals (NASDAQ:ALNY) and Vir Biotechnology (NASDAQ:VIR) on Wednesday announced they were expanding their ongoing collaboration to include an attempt to develop RNA interference (RNAi) treatments for SARS-CoV-2. According to the American Society for ...

Vir Biotechnology and Alnylam Join the Fight Against COVID-19

The &quot;Animal Biotechnology - Technologies, Markets and Companies&quot; report from Jain PharmaBiotech has been added to ResearchAndMarkets.com&#39;s offering. Share of biotechnology-based products and services in 2018 is analyzed and the market is projected to 2028.

Global Animal Biotechnology Industry Insights, 2018-2028 Featuring Profiles of ~124 Players and 110 Collaborations

/PRNewswire/ -- Cellect Biotechnology Ltd. (NASDAQ: APOP), a developer of innovative technology that enables the functional selection of stem cells,

Cellect Biotechnology and Canndoc Ltd. to Enter Into Strategic Pharma Grade Cannabis Commercial Deal for Reduction in Opioid Usage

In trading on Tuesday, biotechnology shares were relative laggards, down on the day by about 2.7%. Helping drag down the group were shares of Vaxart, off about 26.4% and shares of VIR Biotechnology off about 26.

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are advancing strongly Wednesday. The Israeli company said it has entered into a commercial binding Letter of Intent with medical cannabis company Cannadoc to acquire all rights to the use of Cannadoc products for the reduction of opioid use,

Nano-Cap Cellect Biotechnology Rips Higher On Medical Cannabis Deal

Vir Biotechnology, Inc. (Nasdaq: VIR), a clinical-stage immunology company focused on immune approaches to treating and preventing serious infectious diseases, today announced that Phil Pang, M.D., Ph.

Vir Biotechnology to Present at Barclays Global Healthcare Conference

The hardware going to the ISS this weekend includes a number of research projects in biotechnology that could improve the lives of patients here on Earth. “The payloads launching on SpaceX CRS-20 demonstrate that the ISS is not only an amazing multi-purpose, multi-user research facility in low Earth orbit but also a proof-of-concept incubator ...

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is pleased to announce that NuGenerex Immuno-Oncology is sponsoring the Susan G. Komen More than Pink Walk in Orlando, FL on Saturday March 14. The Orlando chapter of the Komen Foundation represents t

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Shares of Vir Biotechnology (NASDAQ:VIR) jumped 74.6% in February, according to data provided by S&amp;P Global Market Intelligence. In fact, the entire year has been fantastic for this stock. Vir is up a startling 264% since Jan. 2, compared to an almost 10% loss for the S&amp;P 500. Why the dominant outperformance? Vir is one of a handful of ...

(USD)	Dec 2023	Q/Q
Revenue	2.5B	+1%
Gross Profit	2.1B	-
Cost Of Revenue	368MM	+15%
Operating Income	988.5MM	-5%
Operating Expenses	1.2B	-
Net Income	968.8MM	-6%
R&D	-	-
G&A	369.1MM	+40%