Piper Jaffray analyst Edward Tenthoff notes that Vertex has partnered with private protein degradation company Kymera for $70M upfront and up to $1B in potential milestones. Vertex is diversifying outside of Cystic Fibrosis in order to generate the next leg of long-term growth, he notes. The analyst is confident in the FDA and EMA approval of Vertex's game-changing TripleRx in 2020 following NDA filing in Q3 and OUS by year end 2019. Tenthoff projects total CF sales will grow from $3.52B this year to $4.51B in 2020 with TripleRx launch. He reiterates an Overweight rating and $217 price target on the shares.

Vertex Pharmaceuticals announced that the European Commission has granted approval for the label expansion of KALYDECO for the treatment of infants down to 1 month of age with cystic fibrosis who have one of the following mutations in the cystic fibrosis transmembrane conductance regulator gene: R117H, G551D, G1244E, G1349D, G178R, G551S, S1251N, S1255P, S549N or S549R. As a result of existing access agreements in Austria, Czech Republic, Denmark, Ireland, Norway, Sweden, and The Netherlands, eligible patients will have access to the expanded indication of KALYDECO shortly following regulatory approval by the European Commission. Vertex will continue to work with reimbursement authorities across the European Union to ensure access for all other eligible patients. In the U.K., following MHRA approval at the end of 2023, and as a result of the existing reimbursement agreement between Vertex and the National Health Service, eligible infants ages 1 month and older in the U.K. have access to this expanded indication for KALYDECO.