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Operating Expense Breakdown
Shows how Vertex allocates spending across R&D, selling/general/admin, and other costs, revealing how much is being invested in drug discovery versus commercial expansion. High R&D spend can signal a deepening pipeline and future growth, while rising SG&A can indicate efforts to broaden market reach — both affect near‑term profitability and long‑term value.Operating expense mix is shifting: R&D has stepped up to a higher, sustained run‑rate tied to late‑stage renal and CF programs, SG&A has risen sharply as Vertex builds commercial muscle for KASJEVY and GERNAVICS, and a lumpy, one‑time IPR&D charge in mid‑2024 creates large quarter-to-quarter variability. Management reiterated steady OpEx guidance and is deliberately prioritizing commercialization and bolt‑on deals; expect near‑term margin pressure and volatility, but growing non‑CF revenue is the strategic payoff management is banking on.
Date | Research and Development | Selling, General, and Administrative | Acquired In-Process Research and Development | Change in Value of Contingent Consideration |
|---|---|---|---|---|
Jun 30, 2026 | $993.80M | $582.20M | $21.40M | $400.00K |
Mar 31, 2026 | $961.60M | $493.70M | $500.00K | $200.00K |
Dec 31, 2025 | $973.70M | $487.00M | $56.50M | $900.00K |
Sep 30, 2025 | $977.70M | $445.10M | $54.50M | -$1.90M |
Jun 30, 2025 | $978.40M | $424.60M | $2.20M | $900.00K |
Mar 31, 2025 | $979.70M | $396.40M | $19.80M | $2.20M |
Dec 31, 2024 | $998.70M | $377.60M | $87.50M | -$1.20M |
Sep 30, 2024 | $875.90M | $371.80M | $15.00M | $300.00K |
Jun 30, 2024 | $966.60M | $372.20M | $4.45B | $500.00K |
Mar 31, 2024 | $789.10M | $342.70M | $76.80M | -$100.00K |