The brightest star in Boston’s rapidly growing biotech scene isn’t a flashy new player, but rather one of its longest standing companies.
While many biotech stocks have struggled this year amid a broader economic downturn, Vertex Pharmaceuticals has risen 65 percent since its most recent low in October 2021. And the 33-year-old firm is now Boston’s most valuable biotech by a mile.
Vertex’s market capitalization of $75 billion now surpasses that of Moderna, which has dipped to $56 billion as prospects for COVID vaccine sales have waned. Vertex’s value has also shot past Biogen, long the local leader, whose current market cap of $31 billion is half what it was when the FDA approved of its controversial Alzheimer’s drug that Medicare declined to cover.
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