Vertex Q4 2021 beats on top and bottom lines as non-GAAP income soars 31%
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Helped by a 27% year-over-year increase in product revenue, Vertex (NASDAQ:VRTX) handily beat EPS and revenue estimates for Q4 2021.
Product revenue rose to about $2.1B from $1.6B in the prior-year period.
Vertex actually saw declines in revenues for its its major product areas except for the cystic fibrosis Trikafta/Kaftrio. Sales for that product increased 55% to ~$1.7B compared to Q4 2020.

Non-GAAP net income rose to $866M and non-GAAP EPS rose 34% to $3.37.
Vertex ended the year with $7.5B in cash, an increase of $0.9B from Dec. 31, 2020.
Check out why Seeking Alpha contributor Biologics rates Vertex a buy.