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Vertex Pharmaceuticals Incorporated (VRTX) CEO Reshma Kewalramani Presents at Cowen 41st Annual Health Care Conference (Transcript)

Mar. 02, 2021 3:42 PM ETVertex Pharmaceuticals Incorporated (VRTX)
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Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) Cowen 41st Annual Health Care Conference March 2, 2021 9:50 AM ET

Company Participants

Reshma Kewalramani - President and CEO

Conference Call Participants

Phil Nadeau - Cowen

Phil Nadeau

Good morning and welcome once again to Cowen and Company's hopefully only Virtual Health Care Conference. I'm Phil Nadeau, a Biotech Analyst here Cowen, and it's my pleasure to moderate a fireside chat with Vertex Pharmaceuticals. Those of you who follow our research know that Vertex is one of our top large-cap picks for this year.

So we're very happy to have with us this morning President and CEO, Reshma Kewalramani. And we'll spend about 30 minutes talking through the fundamentals of the Company.

Reshma, maybe you could start with giving a brief state-of-the-company overview, the biggest strengths, biggest challenges and what you think needs to happen to create shareholder value in Vertex's stock over the next year.

Reshma Kewalramani

Good morning, Phil. It's really good to see you, and thank you for having me here today. Maybe I'll give you a thumbnail and just walk you through the business, starting with CF. The CF business is strong, and there is plenty of growth for us to look forward to as we bring the triple combination to all people who might benefit from this drug.

To put it in very simple terms, we redid our epidemiology recently. And you remember, we used to talk about 75,000 people with CF in Europe, the Americas and Australia. That number is now 83,000. 90% of those patients can be treated with the triple combination. And right now, we're treating about half of that. So there's about 30,000-plus patients who are still to be treated. We exited 2020 at $6.2 billion. I think you can see why I say there's plenty of growth for us to look forward to in CF.

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