Vertex's VX-661 Has Positive Outlook Despite Futility Finding
Although a study testing a combo of the company's cystic fibrosis drug Kalydeco and the investigational VX-661 in patients with minimal CFTR function was ended due to futility, Vertex is on pace for a 2017 filing of the combo in three other CF subpopulations.
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Vertex is spending $160m to acquire Concert's "enhanced" version of its own blockbuster cystic fibrosis treatment Kalydeco, known as CTP-656, in a defensive move that could allow the company to simplify its dosing regimens and differentiate its products against future competition.
Sales of key cystic fibrosis drugs will jump in western economies over the next decade, driven by strong uptake of high-cost CFTR modulator therapies and longer use as life expectancies improve, according to a new report by Datamonitor Healthcare.
More and larger M&A deals could boost public biopharmaceutical companies, so investors will watch closely to see if Pfizer's $14bn Medivation acquisition kicks off a widespread spending spree. Speculation about who'll be bought next is in full swing.