For Vertex these days, it’s all about the launches of three new products—sickle cell disease gene therapy Casgevy, the company’s fifth cystic fibrosis treatment Alyftrek and its non-opioid pain relief medication Journavx, which was approved to much fanfare by the FDA two weeks ago.
During a quarterly earnings presentation (PDF) on Monday, Vertex executives said the company expects to begin shipping Journavx by the end of this month. In the early phase of the launch, Vertex is working to secure “broad stocking agreements” with national and regional pharmacy chains, the company said in its Monday press release.
Vertex is faced with an access challenge as it is charging $15.50 for a 50 mg dose of Journavx, which works out to $420 for a two-week course. Generic opioids, meanwhile, go for roughly $0.50 a pill.
But Vertex execs stressed that momentum is building for public policy efforts to ensure equal access, given that Journavx is a non-opioid pain reliever.
Vertex expects Journavx will be added to the Non-Opioids Prevent Addiction In the Nation (NOPAIN) Act, which became effective at the start of this year. The measure increases access to non-opioid approaches to pain management in the hospital setting for those enrolled in Medicare.
Additionally, the Alternatives to Pain Act, which would ensure that the 52 million seniors covered by Medicare Part D would pay no more out of pocket for a non-opioid than they would for an opioid prescription, has been reintroduced in the Senate.
“Our 150-person sales force is actively engaging with healthcare providers and physicians on the compelling efficacy and safety data of Journavx,” Stuart Arbuckle, Vertex’s chief operating officer, said during a conference call. “In the institutional setting, we are engaging with roughly 2,000 high-volume hospitals and approximately 150 related health systems.”
Analysts at Citi are projecting sales of Journavx to reach $110 million this year.
Meanwhile, Evercore ISI analysts said they expect Journavx “will be included in the NOPAIN Act soon,” but that initial sales “could be sluggish” as the company engages with medical staff who manage formularies for high-volume hospitals.
While Journavx has a broad label to treat patients with moderate to severe pain, Arbuckle said that the company expects initial use will be focused on those who have undergone surgery and will be prescribed Journavx for “a week or two afterwards,” a setting where physicians are “most concerned about prescribing opioids."
As for fourth-quarter revenue, Vertex topped consensus estimates, posting sales of $2.91 billion. The number was an increase of 5% compared with the third quarter and a 16% jump versus the same period in 2023. The company owed the increase largely to quarterly sales of cystic fibrosis blockbuster Trikafta, which grew 17% year over year to $1.84 billion.
In 2025, Vertex is expecting revenue to come in between $11.75 billion and $12 billion, a range Evercore ISI characterized as “likely conservative.” In 2024, revenue landed at $11.02 billion, which was up 12% from 2023.
Besides the launch updates, Vertex revealed that Arbuckle will retire on July 1 of this year, with chief financial officer Charlie Wagner taking over Arbuckle’s chief operating officer role.
Stepping in as the new chief commercial officer will be Duncan McKechnie, who currently heads up commercial operations in North America.
“Stuart reimagined the Vertex commercial organization as the company transitioned from hepatitis C and Incivek to establishing itself in CF. And since then, he has led as Vertex's chief commercial officer and chief operating officer with great skill and innovation,” Vertex CEO Reshma Kewalramani said during the call.