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[marketexclusive]

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Files An 8-K

Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Files An 8-K

We entered into a Credit Agreement (the “Credit Agreement”) with Bank of America, N.A., as administrative agent and the lenders referred to therein, which is summarized below. The Credit Agreement provides for a $500 million revolving facility, $300 million of which was drawn at closing (collectively, the “Loans”). The Credit Agreement also provides that, subject to satisfaction of certain…

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[marketexclusive]

Galapagos NV (ADR) (NASDAQ:GLPG) Will Pocket $250M In Milestones From AbbVie Inc (NYSE:ABBV)

The cystic fibrosis deal between AbbVie Inc (NYSE:ABBV) and Galapagos NV (ADR) (NASDAQ:GLPG) that was struck back in 2013 seems is coming to its conclusion and the Belgian biotech will now pocket $250 million (€218 million). The amount is more than the original agreement but contingent on milestones.

The deal resulted from the reallocation in focus from double to a triple collection of cystic fibrosis drugs, a workload that Galapagos currently has to bear. The initial plan was to develop a double combination cystic fibrosis treatment but things have taken a different turn altogether.

Nevertheless, Galapagos has made good on its objective by advancing on GLPG2222, a corrector, and GLPG1837, a potentiator, the pairing combination that was in the initial plan. The company has now been able to convince AbbVie to take up a financial obligation for the advancement of the additional front.

Galapagos must work hard to hit the milestones that are tied to Phase I and II so as to receive the extra $250 million in potential payouts. According to the company’s CEO Onno van de Stolpe, they will have a substantial reduction of financial exposure in the CF program over the next couple of years. Hence, the company must do all it can to get payment from AbbVie.

The testing of the triple combination in humans for the Phase I and II trials by Galapagos is likely to start next year. The company will by then have generated additional information on the individual use of the three lead drugs. It will also have carried out studies of backup compounds.

The race for the best technology is multifaceted looking at the suite of clinical trials being carried out on a daily basis. Nonetheless, this particular suite is racing forward compared to activities at Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX), which is testing a batch of cystic fibrosis drugs with a triple combination therapy in view. Vertex is trying to increase the sales of its current product Orkambi before Galapagos and AbbVie can overshadow the market.

Galapagos NV (ADR) (NASDAQ:GLPG) Will Pocket $250M In Milestones From AbbVie Inc (NYSE:ABBV) was originally published on Market Exclusive

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Is There More Run Left in Vertex Pharmaceuticals? (NASDAQ:VRTX)

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Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) shares have been climbing strongly since July of last year and even after a small dip in early February are back up at their highs. To help see if there is more run in VRTX, we check to see what the market majority of analysts rate the stock at currently. [Trend Analysis]

Analysis

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) last traded at $126.98 after moving up 0.51% for the trading day. The company last released their quarterly earnings results on January 28th for the period ended Dec-14. The company reported earnings of -$0.73 against a Zack’s research estimate of -$0.61. This represents a 19.67% surprise on the expected result.

The current average broker recommendation for Vertex Pharmaceuticals Inc. , according to Zack’s research, is 2.11, based on 19 broker ratings. With 1 being a strong buy and 5 being a strong sell, this means that on a consensus basis, analysts currently see Vertex Pharmaceuticals Inc. as a buy. The 12 month target consensus price estimate among these analysts for Vertex Pharmaceuticals Inc. is currently at $127.64.

Out of the 19 broker recommendations for VRTX, 8 recommend it as a strong buy, 1 as a buy, 10 as a hold 0 as a sell and 0 as a strong sell. For the current quarter, the consensus analyst estimate for Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) is -$0.82, with analysts expecting year on year growth for the company of 3.73%

About Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)

Vertex Pharmaceuticals Inc. discovers, develops and markets small molecule drugs that address major unmet medical needs. The company has eight drug candidates in clinical development to treat viral diseases, inflammation, cancer, autoimmune diseases and neurological disorders. Vertex has created its pipeline using a proprietary information-based approach to drug design that integrates multiple technologies in biology, chemistry and biophysics aimed at increasing the speed and success rate of drug discovery.