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Fly News Breaks for July 2, 2015
VRTX
Jul 2, 2015 | 12:47 EDT
Piper Jaffray expects today's FDA approval of Orkambi to accelerate top-line growth and return Vertex to sustainable profitability. Piper thinks the cystic fibrosis combo will be priced in line with the company's Kalydeco drug at $311,000 per year, except with steeper gross-to-net discounts due to the larger patient population. It reiterates an Overweight rating on Vertex with a $148 price target.
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