Vertex secures rights to single-dose (daily) therapy for cystic fibrosis

Vertex announced today on a press release, before Wall Street opened, that it has acquired the rights to CTP-656 from competitor Concert Pharmaceuticals, a treatment for cystic fibrosis. Under the agreement, Vertex will pay Concert $160m in cash, plus an additional $90m if CTP-656 is approved in the US and granted reimbursement and approval in Europe. Vertex’s portfolio already includes Kalydeco, highly similar to CTP-656, except for having hydrogen atoms in the place of deuterium atoms, which ensures a shorter circulation time: CTP-656, indeed, can be administered only once daily, while Kalydeco has to be administered at least twice daily. Concert’s shares rose over 77% (Nasdaq) after the announcement, while Vertex’s remained almost unaltered.
(Source: Vertex)