Dew -
Here are three quotes -
"From an expectations point of view this is negative, especially when you consider the competitive landscape," said Rachel McMinn, an analyst at Cowen & Co.
"The takeaway here is that it looks like telaprevir is an approvable drug," said Jason Kolbert, an analyst at Susquehanna Financial. "It clearly has efficacy, but it also clearly has toxicity."
"The expectation on the Street was 70 percent plus,"
From my perspective, the quotes added nothing new, but gave a negative slant.
One could just have easily have given the following quote. "We wait for competitors to provide meaningful clinical data that would trump Vertex," said Richard Smith, an analyst at JP Morgan, which has or recently had a banking relationship with Vertex. "We remain positive on the prospects for telaprevir and while the road is likely to be rocky for the stock, we thing long term investors will be rewarded."
Which the article actually did in a later edition. And guess what, it wasn't from a third rate investment house.
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