FDA Panel Recommends Vertex's ORKAMBI For Approval

MarketWatch Pulse

Vertex Pharmaceuticals Inc. said a Food and Drug Administration panel recommended for approval the company's ORKAMBI cystic fibrosis treatment. The recommendation was by a 12-to-1 vote. "Today's positive recommendation brings the cystic fibrosis community one step closer to potential approval of the first medicine to treat the underlying cause of this disease for many more people," said Vertex Chief Medical Officer Jeffrey Chodakewitz. Vertex's stock, which has been halted for news pending since before Tuesday's open, is slated to resume trade at 4:45 p.m. Eastern. The stock has advanced 4.4% year to date, while the S&P 500 has gained 2%.

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