Vertex Pharmaceuticals Inc.
(
VRTX
) recently reported positive data from a mid-stage study (PROVE 2)
on Incivek (telaprevir), when dosed in combination with
pegylated-interferon and ribavirin for the treatment of patients
with the IL28B CC genotype hepatitis C. The data demonstrated that
patients on Incivek combination therapy achieved 100% viral cure
after 12 weeks of treatment.
Vertex Pharma also announced its plans to initiate patient
enrollment in a phase IIb study, which will evaluate an
interferon-free treatment in patients with genotype 1 hepatitis
C.
We note that Incivek is currently marketed in the US and Canada
for the treatment of hepatitis C virus (HCV). The drug is available
as Incivo outside the US and the Far East, and as Telavic in
Japan.
Further, Vertex Pharma is presently studying the drug for
additional indications and also in combination with other
treatments. Last month, the company reported positive interim data
from a mid-stage study on Incivek when dosed in combination with
pegylated-interferon and ribavirin in people co-infected with
genotype 1 HCV and human immuno deficiency virus (HIV).
The data demonstrated that after 12 weeks of treatment with the
Incivek combination therapy, 74% of the patients experienced
undetectable HCV, while 45% of the patients dosed only with
pegylated-interferon and ribavirin had undetectable HCV. The study
also showed that Incivek was well tolerated with HIV drugs -
Gilead Sciences Inc.
's (
GILD
) Atripla and
Bristol-Myers Squibb Co.
's (
BMY
) Reyataz.
Our View
We currently have a Neutral recommendation on Vertex Pharma. The
stock carries a Zacks #3 Rank (Hold rating) in the short-run. We
believe that the approval of Incivek for any of the aforementioned
indications would boost the drug's sales, which came in at $950.9
million in 2011 (Read our full earnings coverage at:
Incivek Catalyst at Play for Vertex
). Moreover, Vertex Pharma expects Incivek revenues in the range of
$1.5 - $1.7 billion in 2012.
BRISTOL-MYERS (
BMY
): Free Stock Analysis Report
GILEAD SCIENCES (
GILD
): Free Stock Analysis Report
VERTEX PHARM (
VRTX
): Free Stock Analysis Report
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