Vertex Pharmaceuticals Gets a Huge FDA Approval Which Could Send the Stock Skyrocketing

Obtaining approval from the U.S. Food and Drug Administration (FDA) for a key medication can be a huge catalyst for a healthcare stock. It opens up new growth opportunities for the business. And investors become more bullish about its long-term prospects, and the potential the stock has to rise higher in value.Vertex Pharmaceuticals (NASDAQ: VRTX) has many promising treatments in its pipeline, as it looks to build out its business beyond just the cystic fibrosis (CF) drugs that have enabled it to post strong profits and provide investors with stability. But it's growing that portfolio of drugs which will lure in growth investors. And with a recent approval, the company can now add to its list of approved drugs.On Jan. 30, the FDA granted approval for Vertex's pain medication, Journavx. It's a non-opioid treatment for moderate to severe acute pain. For the healthcare industry, this can be a valuable medication, as it gives patients an alternative to highly addictive opioids. In 2023, more than 81,000 people died from overdoses involving opioids, a number that was actually lower than the 84,000 who died the year before, according to data from the National Center for Health Statistics. It's a serious problem in the U.S., and Journavx can play a key role in helping to bring these numbers down.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool