"U.S. Approves First Gene-Editing Treatment, Casgevy, For Sickle Cell Disease" - CNBC
Portfolio Pulse from Benzinga Newsdesk
The U.S. FDA has approved Casgevy, the first CRISPR gene-editing treatment for sickle cell disease, co-developed by Vertex Pharmaceuticals and CRISPR Therapeutics. The treatment, which could cost around $2 million per patient, is expected to generate $1.2 billion in sales by 2028. Casgevy has been approved for patients 12 years and older and uses CRISPR to edit DNA to turn on fetal hemoglobin. The complex treatment process includes chemotherapy and a hospital recovery period, and will be limited to certain health facilities.
December 08, 2023 | 4:29 pm
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CRISPR Therapeutics, co-developer of Casgevy, stands to benefit from the FDA approval of the first CRISPR gene-editing treatment for sickle cell disease.
CRISPR Therapeutics is expected to experience a positive impact on its stock price in the short term due to the FDA approval of Casgevy, which validates the company's technology and has the potential to generate significant future revenues.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Vertex Pharmaceuticals, co-developer of Casgevy, is expected to lead the drug's launch and target patients with severe sickle cell in the U.S. and Europe. Analysts project $1.2 billion in sales by 2028.
The FDA approval of Casgevy is a significant milestone for Vertex Pharmaceuticals, likely to boost investor confidence and potentially increase the stock price in the short term due to the anticipated revenue from the treatment.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 90