Aug 1 (Reuters) - Vertex Pharmaceuticals raised its full-year sales forecast on Tuesday, banking on strong demand for its cystic fibrosis (CF) treatment.
The company now sees full-year sales from its CF treatments to be between $9.7 billion and $9.8 billion, from a prior forecast of $9.55 billion to $9.7 billion. This compares with $9.75 billion as estimated by analysts.
The drugmaker recorded total sales of $2.49 billion in the second quarter, a 14% rise from a year earlier. This was above analysts' estimate of $2.42 billion, according to Refinitiv data. The beat was driven by strong uptake of its top-selling drug Trikafta, which recorded sales of $2.24 billion in the quarter, beating analysts' estimate of $2.16 billion.
Trifakta is meant to treat cystic fibrosis, an inherited disorder that causes severe damage to the lungs, digestive system and other organs.
The company's one-dose gene-editing therapy for sickle cell disease, which it is manufacturing with CRISPR Therapeutics AG , is currently under review by the U.S. Health and Drug Administration. The regulator is set to make its decision known by Dec. 8 this year.
The two companies are hoping to get approval for the world's first therapy based on the Nobel Prize-winning CRISPR technology, for two types of blood disorder - sickle cell disease and transfusion-dependent beta thalassemia.
Vertex is also developing another drug, VX-548, as a treatment for acute pain and neuropathic pain, which could bring in potential sales of more than $5 billion.
Excluding items, the company made a profit of $3.89 per share, while analysts' estimated $3.88 per share. (Reporting by Sriparna Roy in Bengaluru; Editing by Pooja Desai)