Vertex Pharma Surging on FDA Approval

Shares of Vertex Pharma

are seeing much strength during Tuesday's trading session after the FDA announced approval for the company's cystic fibrosis drug. The U.S. Food and Drug Administration has approved KALYDECOTM (ivacaftor), the first medicine to treat the underlying cause of cystic fibrosis, a rare, genetic disease. KALYDECO is approved for people with CF ages 6 and older who have at least one copy of the G551D mutation in the cystic fibrosis transmembrane conductance regulator gene. Vertex is ready to support the introduction of KALYDECO and will begin shipping it to pharmacies in the United States this week. Currently, shares of Vertex Pharma are trading 8.8% higher at $37.80.