Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Bear Stearns Cuts Vertex Pharmaceuticals to 'Underweight'

Bear Stearns downgraded Vertex Pharmaceuticals (VRTX) to underweight from neutral.

Analyst Akhtar Samad says the pipeline has has lost an important near-term potential catalyst. He says the company is discontinuing a trial for Pralnacasan for rhumatoid arthritis, due to liver toxicity in an animal study. Samad says further development will depend on the results of another animal toxicology study, resulting in at least a 12-month delay. He says it's unknown if such effects will be seen in trial data for osteoarthritis, which is expected by year end.

Samad says positive data from the rheumatoid arthritis and osteoarthritis arthritis programs could have signaled potential blockbusters sales for Vertex. He widened the $2.07 2003 loss estimate to a $2.32 loss.

blog comments powered by Disqus