(Adds expectations from analysts)
Jan 8 Vertex Pharmaceuticals Inc 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
(Reporting by David Henry in New York and Deena Beasley in Los
Angeles.; Editing by Lisa Von Ahn)