Intangible Assets From Robust Cystic Fibrosis Franchise Underpin a Narrow Economic Moat for Vertex
Narrow-moat Vertex posted product revenue of $868 million, up 40% from last year and 11% sequentially, thanks to its strong cystic fibrosis portfolio and the recent launch of Symdeko in the United States. We'll revisit our model after the firm files its full-year results, but we don't anticipate a significant change to our fair value estimate at this point. Management's full-year outlook for 2019, including revenue guidance of $3.45 billion to $3.55 billion was mostly in line with our expectatio...Vertex Pharmaceuticals is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and developing research and development programs in other indications. The company's marketed products are TRIKAFTA (elexacaftor/tezacaftor/ivacaftor and ivacaftor), SYMDEKO/SYMKEVI (tezacaftor in combination with ivacaftor), ORKAMBI (lumacaftor in combination with ivacaftor) and KALYDECO (ivacaftor), which are approved to treat patients with CF who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene. The company is evaluating CTX001, a genetic therapy as a potential treatment for sickle cell disease and beta-thalassemia.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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