Vertex Gains Reimbursement For Orkambi & Symkevi In Scotland
Zacks Investment Research | Sep 12, 2019 11:08PM ET
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) announced that it has received a reimbursement approval in Scotland for its cystic fibrosis (CF) medicines Orkambi and Symkevi. Following this, approximately 400 eligible CF patients in Scotland will now get access to both these drugs for their immediate treatment.
Vertex’s CF medicines are reimbursed in 17 countries across the world. However, the company has faced some challenges with respect to commercialization of Orkambi in the ex-U.S. markets due to re-imbursement hurdles.
Though Vertex has reached reimbursement agreements for Orkambi in several European countries including Germany, Ireland, Netherlands, Sweden, Italy, Denmark and now Scotland, its negotiations continue with several other countries on the Continent that represent significant potential markets including the United Kingdom and France. The company has generated limited revenues from Orkambi in these countries due to the ongoing pricing discussions on Orkambi’s reimbursement rate.
Shares of Vertex have increased 4.1% so far this year against the Zacks Investment Research
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