VERTEX PHARMACEUTICALS INC / MA — Form 8-K

Vertex reported Q3 2026 revenue of $3.44B (+12% YoY), raising full-year guidance to $13.15–$13.25B from $13.1–$13.2B. The company completed its acquisition of Crinetics Pharmaceuticals for ~$10.0B equity value (~$9.0B net of cash) on September 1, 2026, adding PALSONIFY (acromegaly) to create a fourth commercial franchise in rare endocrine diseases. Povetacicept has a November 30, 2026 PDUFA date for IgAN (potential fifth franchise in nephrology). The Crinetics deal included ~$500M in compensation and transaction costs, reducing Q3 GAAP net income to $654M (vs. $1.1B YoY), though non-GAAP net income held flat at $1.2B. Cash decreased to $9.8B from $12.3B at year-end due to the acquisition and share repurchases, partially offset by $4.5B in new term-loan debt.