This Company Could Ease the Pain in a Bear Market

Biotechnology company Vertex Pharmaceuticals (NASDAQ: VRTX) carved a name for itself in cystic fibrosis but has been slow to diversify into other diseases. That finally looks about to change as the company is on the verge of entering several new markets and dramatically expanding its total addressable patient population.

Vertex is the undisputed leader in the cystic fibrosis field, offering a suite of four treatments, including top-selling megablockbuster drug Trikafta. With patent protection extending to 2037 and no other competitors in the market, Trikafta enjoys an enviable economic moat.

Potential competitor AbbVie gifted Vertex several more years of market dominance when it decided to scrap its phase 2 trial of a combination drug because it did not meet pre-determined criteria at the interim analysis. Instead, it will replace one of the active components and initiate a new Phase 2 trial next year. At the moment, Vertex's own next-generation, combination drug -- now in Phase 3 trials -- looks to become Trikafta's primary competitor.

Source Fool.com