Plus   Neg

Vertex Pharma Confirms 2020 Business Outlook, Supply Chain Continuity

Vertex Pharmaceuticals Inc. (VRTX) on Friday confirmed its 2020 business outlook and the continuity of the company's supply chain for its approved cystic fibrosis or CF medicines. The biotechnology company also provided an update on its development programs given the ongoing COVID-19 pandemic.

However, the company added it will temporarily pause enrollment in certain clinical trials to reduce the burden on the healthcare system.

"Despite the widespread impact of the COVID-19 pandemic, the outlook for our business remains unchanged and we continue to be highly confident in our supply chain and our ability to supply all of our approved medicines to patients who need them," said Jeffrey Leiden, Chairman, President and Chief Executive Officer of Vertex Pharma.

Vertex Pharma said it has ample supply to meet commercial needs well into the future and is highly confident in its ability to continue to supply all of its medicines to patients around the world.

In addition, the company's manufacturing facilities have remained operational and continue to produce new supply of medicines.

Vertex Pharma added that it is currently conducting multiple clinical trials globally that span various diseases, modalities and stages of development. These trials include late-stage, post-marketing or confirmatory studies for medicines with well-established benefit-risk profiles, as well as earlier-stage proof-of-concept studies for investigational medicines.

Depending on the disease, stage of development and type of study, and in order to reduce the burden on the healthcare system at "a time of critical need", Vertex will temporarily pause enrollment in certain studies and may delay some new study starts.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Amazon is expanding the aircraft fleet of its air cargo network by leasing 12 additional Boeing 767-300 converted cargo aircraft from Air Transport Services Group Inc. This comes amid increased demand for shipments due to the coronavirus pandemic. These aircraft will join Amazon Air's existing fleet of 70 aircraft to bring its total network to more than 80 aircraft. New York's transit agency The Metropolitan Transportation Authority or MTA has pulled its newest subway cars from service after two cars got detached from a moving train. New York City Transit Interim President Sarah Feinberg launched an investigation into the matter. The entire R179 fleet from Canadian company Bombardier Inc. has been pulled until further notice after the incident in Chambers AMC Entertainment Holdings, Inc., the world's largest theatre chain, said it has substantial doubt in its ability to continue its business as theaters across the world remain closed for months now following coronavirus or Covid-19 pandemic. In a regulatory filing, the company said it is "generating effectively no revenue", and that additional capital, if needed, may not be available.
Follow RTT