Vertex Pharmaceuticals
Q2 2022 Earnings Call
Aug 04, 2022, 4:30 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good day, and welcome to the Vertex Pharmaceuticals second quarter 2022 earnings call. [Operator instructions] Please note, this event is being recorded. I would now like to turn the conference over to Charlie Wagner, chief financial officer. Please go ahead.
Charlie Wagner -- Chief Financial Officer
Good evening. This is Charlie Wagner, Vertex' chief financial officer. Welcome to our second quarter 2022 financial results conference Call. On tonight's call, making prepared remarks, we have Dr.
Reshma Kewalramani, Vertex's CEO and president; Stuart Arbuckle, chief operating officer; and myself. We recommend that you access the webcast slides as you listen to this call. Also, the call is being recorded, and a replay will be available on our website. We will make forward-looking statements on this call that are subject to the risks and uncertainties discussed in detail in today's press release and in our filings with the Securities and Exchange Commission.
These statements including, without limitation, those regarding Vertex' marketed CF medicines, our pipeline and Vertex' future financial performance are based on management's current assumptions. Actual outcomes and events could differ materially. I would also note that select financial results and guidance we will review on the call this evening are non-GAAP. I will now turn the call over to Dr.
Reshma Kewalramani.
Reshma Kewalramani -- Chief Executive Officer and President
Thanks, Charlie, and good evening all. Vertex continues to make strong progress toward our goal of reaching all CF patients eligible for our medicines. Based on the continued uptake of TRIKAFTA in the U.S., as well as in the international region, our Q2 CF product revenues grew 22% year on year to $2.2 billion. And based on this uptake, as well as the new reimbursements recently secured, we are updating revenue guidance from $8.4 billion to $8.6 billion, to $8.6 billion to $8.8 billion.
We're also making rapid progress in advancing our R&D portfolio with programs in five disease areas now entering or progressing through late-stage clinical development, and the next wave of innovation getting ready to enter the clinic. Our expanding leadership in CF, coupled with the broad, deep and advanced research and clinical stage pipeline brings Vertex to this new inflection point highlighted last quarter. This inflection point is rooted in our differentiated R&D strategy, which is designed to increase the odds of success in drug discovery and development. This strategy is working.