August 9, 2021

More Insider Buying at Vertex Pharma

 Bruce I. Sachs, the lead independent director of the company’s Board since 1998 purchased 15,000 shares for $3,260,465 at an average price of $217.36.

Vertex Pharmaceuticals perked up a little after reporting Q2 revenue increased 18% year-over-year to $1.8 billion on account of sales of its cystic fibrosis
drug KAFTRIO in Europe and the continued strong performance of TRIKAFTA in the U.S. The company also raised its full-year 2021 guidance to $7.2 to $7.4 billion from its previous guidance of $6.7 to $6.9 billion in revenue. The key question for Vertex is the strength of its pipeline outside its cystic fibrosis franchise. The company currently has four drugs in phase 2 development for kidney disease, pain, sickle cell disease and beta thalassemia.

 

No comments: