Vertex Pharmaceuticals Incorporated – Buy Biotechnology Stocks Now
One life-threatening disease affecting the lungs and the digestive system is cystic fibrosis. There are studies that people suffering from this condition can sometimes not even make it past the 30s. There is no known cure for cystic fibrosis. However, one company has a set of medicines that can be used to treat cystic fibrosis. The name of the company is Vertex Pharmaceuticals. It was started in Cambridge, MA, by a Harvard-trained chemist. The motto of the company is to tackle the most challenging problems in healthcare and to come out with innovative products that more than move the needle. Being founded by a scientist has resulted in the company’s culture revolving around research and innovation. Such companies tend to do well if they can successfully come out with a lucrative product. If you want to buy top healthcare stocks, then you may want to have a look at Vertex Pharmaceuticals.
Temporary Setbacks But Positive Long Term Prospects
If you look at the price chart of Vertex Pharmaceuticals, you may notice a decline in recent times. The decline has to do with the company’s decision to discontinue trials on a drug that it was working on to treat alpha-1 antitrypsin, a rare genetic disorder. In October 2020, the company discontinued trials on another drug that was meant to treat AATD. On the positive side, in September 2021, the company announced that it successfully concluded trials for Trifakta, a drug meant to treat cystic fibrosis among children between the ages of 6 years and 11 years. Trifakta was already approved for use by people above the age of 12 years for the treatment of cystic fibrosis. So, if you are looking to buy biotechnology stocks now, Vertex Pharmaceuticals could be a good option for the long term.
Vertex Pharmaceutical’s stock crossed $290 and hit a peak in July 2020. Since then, the news of discontinuing trials, as highlighted above, has pulled the stock down. Currently, it is hovering around the $180 mark. The 52-week high is some way away at $281.