Vertex CF Candidate Impresses 4/19/13
Zacks By Zacks Equity Research | Zacks – 11 minutes ago
The company has another cystic fibrosis candidate, VX-983, which is currently in a phase I multiple-ascending-dose study in healthy volunteers. VX-983 is scheduled to move into a 28-day study in combination with ivacaftor in the second half of this year.
We note that ivacaftor is currently approved in the US, Canada and the EU under the trade name Kalydeco for the treatment of cystic fibrosis patients (six years and older) who have at least one copy of the G551D mutation in the CFTR gene. Kalydeco, which delivered revenues of $171.6 million in 2012, is off to a strong start and should continue performing well in 2013.
We are optimistic on the growth prospects of Vertex Pharma’s cystic fibrosis franchise. Vertex Pharma currently carries a Zacks Rank #1 (Strong Buy).