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Fly News Breaks for June 30, 2015
VRTX
Jun 30, 2015 | 07:32 EDT
Piper Jaffray analyst Edward Tenthoff said he is confident that the FDA will approve Vertex's Orkambi in homozygous F508del cystic fibrosis by its PDUFA date of July 5, meaning a decision should come by either late Thursday or by Monday morning, due to the holiday. Pricing will be key, Tenthoff noted, adding that he expects it to be in-line with Kalydeco's $311,000, except with steeper gross-to-net discounts. Tenthoff expects Vertex to retain its dominance of CF therapy and keeps his Overweight rating and $146 target on its shares, which closed down $4.84 near $122 yesterday.
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