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We See This Firm Emerging as a Rare-Disease Powerhouse

Vertex Pharmaceutical's monopoly in the cystic fibrosis market forms the basis of our narrow-moat rating, and we expect that moat to continue to grow.


While Vertex Pharmaceuticals was once best known for a blockbuster hepatitis C drug, the firm's future is now tied to its robust cystic fibrosis portfolio. With its approved treatments and more products in the pipeline, Vertex is creating a dominant franchise in this lucrative rare-disease market.

Vertex's portfolio of disease-modifying drugs forms the basis of our narrow economic moat rating. The company is well supported by lengthy patent protection and first-mover status in the cystic fibrosis market. As the only disease-modifying drugs in that market, Vertex's products now make up the backbone of cystic fibrosis therapy.

Kelsey Tsai does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

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