Andrew Hill Investment Advisors, Inc. on Vertex Pharmaceuticals Incorporated
Thesis
Vertex's cystic fibrosis franchise generates substantial cash flow that can be redeployed into new therapeutic areas. Management is using acquisitions and internal research to broaden the portfolio beyond the core franchise. The fund highlights kidney disease, pain management, gene editing and other specialty indications as future growth avenues. It believes the market remains too focused on cystic fibrosis and is not fully valuing these additional growth drivers.
“the market continues to view Vertex primarily through the lens of its cystic fibrosis franchise”