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Current Market

Vertex Pharmaceuticals Incorporated (Vertex or 'the company') is headquartered in

Boston, Massachusetts, the US. They are involved in the discovery, development, and

commercialization of new medicines. The company operates R&D facilities in California,

Washington D.C., Iowa, Switzerland, the UK, France, Germany, Australia, Canada, Ireland,

Spain, Italy, and the Netherlands. It offers products for cystic fibrosis (CF) treatment including

Kalydeco (ivacaftor) and Orkambi (ivacaftor/lumacaftor). Vertex is involved in curing various

diseases including cancer, influenza, neurological diseases, and disorders such as pain and cystic

fibrosis. It primarily operates in the US, Canada, and Europe. The company's key products

include the following:

"Vertex has three major customers, namely, Walgreen Co., Accredo/Curascript, Lloyds

Pharmacy and McKesson Corporation. In FY2020, these four customers together accounted for

over 50%, of the company's revenues from continuing operations. Further, the company's

individual customer accounted for 10% or above 10% of the company's revenue. Many

competitors, including major pharmaceutical companies such as Novartis, Pfizer, Sanofi, and

Roche, Abbvie, Bristol-Myers Squibb, Gilead Sciences, Johnson & Johnson, Merck, possess

substantially greater financial, technical, and human resources than Vertex. Potential competitors

also include other public and private companies, academic institutions, government agencies,

other public and private research organizations and charitable venture philanthropy organizations

that conduct research, seek patent protection and/or establish collaborative arrangements for

research, development, manufacturing, and commercialization" (Vertex Pharmaceuticals, 2022).

In the above figure, it shows the company's balance sheet and income statement in

millions for March, June, September, and December 2021. Vertex shows at the end of December a total revenue of $2072.6 million with a net income of $770.1 million. They have a total liability

of $3332.5 million and total assets of $13432.5 million at the end of December 2021.

In the figure below, it shows the sales and net income growth of the company.Vertex

generated revenue of US$6,205.6 million as compared to US$4,162.8 million in FY2019, with

an annual growth of 49.1%. The primary source of revenue for the company was driven by three

areas: product revenue, royalty revenue, and collaboration revenue.