VRTX · 8-K · 20261102PR000287

Operating Expense Trends

VERTEX PHARMACEUTICALS INC / MA · 2026-11-02 · Importance 72 · Surprise 74 · From source text

Third-quarter GAAP R&D, acquired IPR&D, and SG&A totaled approximately $2.2 billion, compared with $1.5 billion a year earlier; non-GAAP combined expenses were $1.533 billion versus $1.285 billion. The GAAP increase included $502 million of Crinetics acquisition-related compensation and transaction costs, comprising $282 million in R&D and $220 million in SG&A. Vertex raised full-year combined GAAP expense guidance to $7.15–$7.20 billion from $6.30–$6.45 billion, and non-GAAP guidance to approximately $6.0 billion from $5.65–$5.75 billion. The company cited renal-franchise commercial investment led by povetacicept, the addition of Crinetics, and JOURNAVX launch investment as key expense drivers.

Key facts

• Third-quarter 2026 combined GAAP R&D, acquired IPR&D, and SG&A expenses were $2.2 billion, compared with $1.5 billion in third-quarter 2025. source
• Third-quarter combined GAAP R&D, acquired IPR&D, and SG&A expenses included approximately $500 million of Crinetics acquisition compensation and transaction-related expenses. source
• Third-quarter 2026 combined non-GAAP R&D, acquired IPR&D, and SG&A expenses were $1.5 billion, compared with $1.3 billion in third-quarter 2025. source

Impact estimates