Morningstar

Morningstar, Inc.

Equity Bottom-Up

Vertex's first-quarter results were slightly ahead of our expectations, with the company's strong portfolio of cystic fibrosis therapies continuing to support a narrow economic moat. Total product revenue of $857 million was up 34% from last year, driven by reimbursement and pricing agreements in Europe. We anticipated that Symdeko, which launched in the U.S. in 2018 and recently in Germany as Symkevi, would be a key driver this year, but the uptake in the first quarter was much better than we…

United States

Vertex Pharmaceuticals Incorporated discovers, develops, and commercializes novel, small molecule pharmaceuticals for the treatment of diseases for which there are currently limited or no effective treatments.  The Company develops drugs for the treatment of cystic fibrosis, autoimmune diseases, cancer, inflammatory bowel disease, and neurological disorders.

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