VRTX · Earnings call · 2026Q3T · Full report

Liquidity and Debt Position

VERTEX PHARMACEUTICALS INC / MA · 2026-11-02 · Importance 63 · Surprise 42 · In source text

Vertex ended the third quarter with approximately $9.8 billion in cash and investments after closing the Crinetics acquisition. It raised $4.5 billion of term loans to fund part of the acquisition, with an interest rate of approximately 4.8%. Third-quarter non-operating costs associated with Crinetics financing were approximately $50 million, and lower post-acquisition cash balances reduced interest income by $15 million versus what it otherwise would have been. For full-year 2026, Vertex expects $105 million of Crinetics-related non-operating costs and interest income approximately $60 million below the no-acquisition comparison.

Key facts

Vertex raised $4.5 billion of term loans to fund part of the Crinetics acquisition; the loans currently bear interest at approximately 4.8%.
Vertex ended Q3 2026 with approximately $9.8 billion in cash and investments after closing the Crinetics acquisition.
Q3 2026 interest income was $15 million lower because of lower cash balances after the acquisition.

Impact estimates

metric	direction	stage	expected	basis
liability	negative	realized	-13.8%	Vertex raised $4.5 billion of term loans to fund part of the Crinetics acquisition; the loans currently bear interest at approximately 4.8%.