Revenue during the quarter grew 9.76 percent to $458.71 million from $417.94 million in the previous year period. Gross margin for the quarter expanded 198 basis points over the previous year period to 86.81 percent. Operating margin for the quarter period stood at positive 8.64 percent as compared to a negative 12.85 percent for the previous year period.

Operating income for the quarter was $39.64 million, compared with an operating loss of $53.70 million in the previous year period.

"2016 was a very important year for Vertex. It was marked by significant CF revenue growth from approximately $980 million in 2015 to approximately $1.7 billion in 2016. Additionally, our progress toward treating more people with CF continued in 2016 with the approval of ORKAMBI for children ages six to eleven in the U.S., the advancement of two next-generation correctors into Phase 2 development, and identifying two additional next-generation correctors for Phase 1 development," said Jeffrey Leiden, M.D., Ph.D., chairman, president and chief executive officer of Vertex. "As we enter 2017, we anticipate continued revenue and earnings growth and additional important progress toward our long-term goal of treating all people with CF."

Debt remains almost stable
Vertex Pharmaceuticals Incorporated has recorded a decline in total debt over the last one year. It stood at $351.40 million as on Dec. 31, 2016, down 0.63 percent or $2.23 million from $353.63 million on Dec. 31, 2015. Total debt was 12.14 percent of total assets as on Dec. 31, 2016, compared with 14.15 percent on Dec. 31, 2015. Debt to equity ratio was at 0.26 as on Dec. 31, 2016, down from 0.32 as on Dec. 31, 2015.