Drug pipeline stumbles at Vertex Pharmaceuticals and Amgen could have both large-cap biotechs looking to make new deals.
The concern is growth and where it will come from. Vertex and Amgen have been counting on their respective pipelines to deliver. Unfortunately, some of their experimental drugs aren’t following the script, and that could compel both companies to buy growth from the outside through acquisitions or new partnerships.
Vertex has been, and still remains, the best growth story in large-cap biotech, thanks to the blockbuster performance of Trikafta and its other drugs for cystic fibrosis. But the company’s incredible success — its medicines can now treat 90% of cystic fibrosis patients — also means that the ability to grow within cystic fibrosis is reaching its limit.
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