"Vertex Pharma Beats Earnings Expectations in Q3 2023, Stock Slips"

Vertex Pharmaceuticals reported its financial results for the third quarter of 2023, with product revenue increasing by 6% to $2.48 billion compared to the same period last year. The company raised its full-year 2023 product revenue guidance to approximately $9.85 billion. Vertex's R&D pipeline continues to advance, with Phase 3 data in cystic fibrosis and acute pain expected in early 2024, and Phase 2 data in neuropathic pain expected in late 2023. The company is also preparing for potential new product launches, including exa-cel in sickle cell disease and transfusion-dependent beta thalassemia.