Vertex Announces Approval Of First CRISPR/Cas9 Gene-Edited Therapy, CASGEVY, For The Treatment Of Sickle Cell Disease And Transfusion-Dependent Beta Thalassemia In Kingdom Of Saudi Arabia
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Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) has received approval from the Saudi Food and Drug Authority (SFDA) for CASGEVY, a CRISPR/Cas9 gene-edited therapy for sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT). This marks the first SFDA Breakthrough Designation and approval through this pathway, as well as Vertex's first regulatory approval in Saudi Arabia. Vertex is working to expand access to CASGEVY in Saudi Arabia by qualifying additional hospitals as Authorized Treatment Centers and securing hospital formulary listings for reimbursement.
January 09, 2024 | 5:44 pm
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Vertex Pharmaceuticals' CASGEVY has been approved in Saudi Arabia for the treatment of SCD and TDT, potentially opening a new market for the company and enhancing its global presence in gene therapy.
The approval of CASGEVY in Saudi Arabia is a significant development for Vertex Pharmaceuticals, as it not only represents a new market for their gene-edited therapy but also showcases the company's innovation in a region with a high prevalence of SCD and TDT. This could lead to increased revenue and a stronger global position in the gene therapy space. The positive impact on the stock price is likely due to the potential for new revenue streams and the demonstration of regulatory success.
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