Vertex’s Cystic Fibrosis Sales Beat, as Newer Drugs Miss

Vertex Pharmaceuticals Inc. reported third-quarter sales that beat analysts’ expectations as the biotech company’s mainstay cystic fibrosis treatment saw revenue growth, even as new drugs’ performances disappointed Wall Street.

Vertex reported revenue of $3.08 billion, an 11% gain from one year ago. That was ahead of analysts’ forecasts and was driven in large part by an increase in sales for its cystic fibrosis treatment, Trikafta.