Vertex Pharmaceuticals is on the cusp of capturing $10 billion in sales of non-opioid painkillers, thanks to a recent approval by the FDA for its new pain treatment, Journavx. The drug, previously known as suzetrigine, has been approved for moderate-to-severe acute pain caused by surgery, accidents, or injuries.
According to analysts, Journavx is expected to generate significant revenue due to its effectiveness in treating pain without the risk of addiction associated with opioids. The treatment involves a pill given twice a day and costs $15.50 per 50-milligram pill before insurance reimbursement kicks in.
Analysts are divided on the drug’s potential, but most agree that it marks a significant step forward for Vertex Pharmaceuticals as it moves beyond its dominance in treating cystic fibrosis. Some analysts, such as Leerink Partners’ David Risinger, project over $10 billion in peak sales and consider this approval the start of something big.
Others, like RBC Capital Markets’ Brian Abrahams, are more cautious, citing higher rates of side effects in patients with liver disease and a slower onset of pain relief. However, even they see potential for Journavx to make a significant impact on the market.
The FDA approval has sent Vertex’s stock soaring 5.3% to close at $461.68, marking its first time above the 200-day moving average since mid-December. With this approval, Vertex Pharmaceuticals is poised to embark on a new chapter in its history, serially innovating and launching additional non-opioid pain medications over the medium-long term.
Source: https://www.investors.com/news/technology/vertex-pharmaceuticals-vertex-stock-non-opioid-painkiller-journavx