Jim Cramer of CNBC urged on Monday that investors keep an eye on Vertex Pharmaceuticals (VRTX), a biotechnology company developing an opioid-free medication to treat acute pain.
The main pharmacy problem is how to eliminate or at least neutralise pain without using opioids. Cramer stated on “Squawk on the Street” that “They have a strategy — Vertex.”
The pain medication, known as VX-548, is currently undergoing late-stage studies at Vertex, which derives the majority of its revenue from the cystic fibrosis therapy Trikafta. According to Vertex, it wants to develop a new class of prescription drugs that treat pain and address the drawbacks of opioids, including their propensity for addiction.
The results of the VX-548 late-stage trial are anticipated “within the year,” according to Cramer, who added that if they exist, they would represent the largest market opportunity in history.
Source (CNBC)
