Vertex beats Street as Incivek revenue nears $1B in 2011

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) reported 4Q11 and 2011 financial results that beat the Street's estimates as revenue from newly launched HCV drug Incivek telaprevir reached nearly $1 billion in 2011. Vertex reported fourth quarter revenue of $563.3 million, including $456.8 million in Incivek revenue and a $65 million milestone payment from Mitsubishi Tanabe Pharma Corp (Tokyo:4508; Osaka: 4508), which markets telaprevir as Telavic in Japan. The Street was expecting revenue of $518.4 million. Fourth quarter GAAP EPS was $0.74, beating by $0.04 the Street's estimate of $0.70. In 4Q10, the company reported a loss per share of $0.90. ...