S&P Reiterates BUY Opinion for Vertex Pharmaceuticals

October 20 00:00 2011

New York, 20 October (RainbowNewsLine.com) – Analyst Steven Silver of S&P Capital IQ maintains his BUY rating on the shares of Vertex Pharmaceuticals(NASDAQ: VRTX).

Analyst Steven Silver, in a research report published yesterday mentions that the company has submitted Kalydeco (VX-770) for the treatment of cystic fibrosis for FDA approval. The filing has a Priority Review request, which if granted could lead to the US approval for the drug as early as April 2012, the analyst says. VRTX is also planning to submit a European filing before the end of this month, according to the analyst. Although the company’s near term valuation is expected to be driven by its hepatitis C drug Incivek, the cystic fibrosis program is likely to be a vital source for long term revenue diversification, the analyst adds.