Segment Information (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Revenues by Product

“Product revenues, net” consisted of the following:

	Year ended December 31,
	2025	2024	2023
	(in millions)
TRIKAFTA/KAFTRIO	$10,312.7	$10,238.6	$8,944.7
ALYFTREK	837.8	—	—
Other product revenues	820.1	781.5	924.5
Total product revenues, net	$11,970.6	$11,020.1	$9,869.2

Schedule of Revenues and Property and Equipment by Location

“Product revenues, net” are allocated based on the location of the customer. “Other revenues” are allocated based on the

location of the Vertex entity associated with such revenues. Our “Total revenues” consisted of the following:

	Year ended December 31,
	2025	2024	2023
	(in millions)
United States	$7,548.6	$6,684.9	$6,040.4
Outside of the United States
Europe	3,460.3	3,453.9	3,109.0
Other	992.4	881.3	719.8
Total revenues outside of the United States	4,452.7	4,335.2	3,828.8
Total revenues	$12,001.3	$11,020.1	$9,869.2

Long-lived assets by location consisted of the following:

	As of December 31,
	2025	2024
	(in millions)
United States	$2,888.4	$2,392.4
Outside of the United States
United Kingdom	167.6	176.6
Other	27.0	15.6
Total long-lived assets outside of the United States	194.6	192.2
Total long-lived assets	$3,083.0	$2,584.6

Schedule of Significant Customers

roduct revenues and net accounts receivable from each of our customers who individually accounted for 10% or

more of total gross product revenues and/or 10% or more of total accounts receivable consisted of the following:

	Percentage of Total Gross Product Revenues			Percentage of Accounts Receivable
	Year Ended December 31,			As of December 31,
	2025	2024	2023	2025	2024
McKesson Corporation	22%	26%	26%	19%	17%
Accredo Health Group, Inc.	12%	11%	11%	<10%	<10%
Lloyds Pharmacy	<10%	<10%	<10%	10%	13%

Schedule of Significant Segment Expenses

Significant segment expenses are set forth in the following table:

	Year ended December 31,
	2025	2024	2023
	(in millions)
Total revenues	$12,001.3	$11,020.1	$9,869.2
Costs and expenses:
Cost of sales - products	601.5	516.3	349.2
Cost of sales - royalty	1,049.8	1,014.2	913.0
Research expenses	827.9	804.5	705.6
Development expenses	3,081.6	2,825.8	2,457.3
Acquired in-process research and development expenses	133.0	4,628.4	527.1
Selling and other commercial expenses	1,102.8	838.5	592.4
General and administrative expenses	650.3	625.8	544.2
Intangible asset impairment charge	379.0	—	—
Interest income	(490.9)	(598.1)	(614.7)
Other Segment items (1)	23.1	116.2	15.3
Provision for income taxes	690.0	784.1	760.2
Net income (loss)	$3,953.2	$(535.6)	$3,619.6

(1)Other segment items included in “Net income (loss)” primarily include changes in the fair value of contingent consideration,

interest expense and changes in the fair value of equity investments.