Rare-disease biopharma
Vertex Pharmaceuticals Incorporated
Vertex Pharmaceuticals earns most of its revenue from cystic fibrosis medicines distributed through major pharmaceutical wholesalers and specialty pharmacies. It spends on cell and gene therapy manufacturing, collaborations, and licenses, while using acquisitions to expand its kidney-disease pipeline.
VRTX Updated Sep 11, 2026 4 AI consumers· 1 recurring
Per the valuechain.wiki graph, Vertex Pharmaceuticals Incorporated is directly linked to 2 companies (1 supply, 1 revenue relationships) and reaches 6 companies within two hops; the links are backed by 5 dated sources, 1 of them primary filings (as of 2026-09-11).
Financials & Segments
- Total revenue · FY2025 total revenue USD 12,001,300,000 (SEC Form 10-K, filed 2026-02-13)
- Segments · TRIKAFTA/KAFTRIO · ALYFTREK · Other products · Other revenue
Revenue from
- McKesson Corporation High confidence· Revenue share 22% · FY2025 · McKesson's share of Vertex FY2025 total gross product revenues
McKesson is Vertex's largest disclosed customer. It accounted for 22% of Vertex's total gross product revenues in FY2025. - Accredo Health Group, Inc. High confidence· Revenue share 12% · FY2025 · Accredo Health Group's share of Vertex FY2025 total gross product revenues
Accredo Health Group is a specialty-pharmacy customer of Vertex. It accounted for 12% of Vertex's total gross product revenues in FY2025.
Pays to
- Moderna High confidence· Contract value $270M · agreement life · Maximum development and regulatory milestones payable to Moderna, excluding royalties on net sales
Vertex maintains a license and collaboration agreement with Moderna to develop mRNA therapeutics for cystic fibrosis. Moderna is eligible for up to USD 270 million in development and regulatory milestones plus royalties on future net sales. - CRISPR Therapeutics AG High confidence· Amount $200M · 2024-01 · Milestone Vertex paid to CRISPR Therapeutics following FDA approval of CASGEVY
Vertex co-develops and commercializes CASGEVY with CRISPR Therapeutics. It paid CRISPR a USD 200 million milestone in January 2024 following FDA approval and continues to allocate CASGEVY net profit or loss under the agreement.Confirms EN CRISPR Therapeutics Published Dec 8, 2023: Vertex and CRISPR Therapeutics Announce US FDA Approval of CASGEVY for Sickle Cell DiseaseMentions EN The Motley Fool Published Apr 20, 2021: Vertex Pharmaceuticals Raises Bet on CRISPR Therapeutics - Lonza High confidence
Lonza is Vertex's strategic manufacturing partner for type 1 diabetes cell therapy candidates. The companies collaborate on process development and scale-up and co-invest in a dedicated facility, but Vertex's payments are not disclosed.
Investments
- Alpine Immune Sciences, Inc. High confidence· Amount $5B · 2024 acquisition · Total cash paid to acquire Alpine Immune Sciences
Vertex acquired all outstanding shares of Alpine Immune Sciences in 2024, gaining the IgA nephropathy candidate povetacicept. The disclosed total cash paid was USD 4.9575 billion.Confirms KO BioSpectator Published Apr 11, 2024: Vertex to Acquire Alpine in a $4.9 Billion Deal, Advancing Rare IgA Nephropathy to Phase 3
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| CVS Health | lead2 | +54.9 | -7.6 | -12.5 | -40.8 | +84.3 | +24.7 |
| Walmart Inc | lead2 | +2 | -0.5 | +12.9 | +74 | +24.5 | -3.2 |
| McKesson Corporation | lead1 | +44.2 | +51.8 | +24.1 | +23.7 | +44.5 | +11 |
| Vertex Pharmaceuticals Incorporated | node | -7.1 | +31.5 | +40.9 | -1 | +12.6 | +20.5 |
| Moderna | benef1 | +143.1 | -29.3 | -44.6 | -58.2 | -29.1 | +393.6 |
| Thermo Fisher Scientific | benef2 | +43.5 | -17.3 | -3.4 | -1.7 | +11.8 | +6.1 |
| Blackstone | benef2 | +107.1 | -40 | +82.7 | +35.1 | -7.8 | -8.9 |
YTD as of 2026-09-04 · source: Yahoo Finance
Vertex Pharmaceuticals Incorporated operates across Rare-disease biopharma. It is +20.5% in 2026. Its demand and supply links are known, but listed-counterparty return data is limited. It spends on cell and gene therapy manufacturing, collaborations, and licenses, while using acquisitions to expand its kidney-disease pipeline.
Analysis generated from returns as of 2026-09-04