Summary
- Vertex Pharmaceuticals showed a 40% revenue increase from a year ago.
- A larger patient base boosted profits on the company's three approved CF medications.
- VRTX share prices have doubled in the last two years.
Vertex Pharmaceuticals (VRTX)is making headlines for all the right reasons. The Boston-based company reported Q4 FY2018 earnings on February 5, and the results were a blockbuster for the company.
Start at the beginning: Vertex is a mid-size drug developer, working on treatments for cystic fibrosis. There is no cure for CF, and the disease is progressive. Treatments until now have focused on ameliorating symptoms; Vertex’ new drugs have taken a different approach and targeted the underlying cause of the disease.
The three medications Vertex has on the market – Symdeko, Kalydeco, and Orkambi – work by modifying the incorrect protein expression in the lungs resulting from the underlying genetic mutation. This novel approach has let Vertex carve out an exclusive niche in the biotech industry.
So, what else went right for Vertex in 2018?
