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UK budget includes £1bn biopharma investment package. Among the highlights of UK Chancellor John Healey's first Budget was more than £1 billion in investment by Convatec, Vertex Pharmaceuticals, and Kindeva, supported by £70 million in government funding. Medtech firm Convatec has agreed to invest more than £500 million over the next 10 years to build an R&D hub in Manchester for products used in wound care, ostomy, continence, and infusion care products, which is due to open in early 2028. The facility will be located at the Citylabs SciTech campus and will house roughly 200 workers, with some transitioning from Convatec's older Deeside site, alongside newly created local positions. Meanwhile, Vertex has pledged over £300 million to develop a brand-new facility in Oxford focusing on medicines research and pharmaceutical innovation, and drug delivery specialist Kindeva is planning to spend £200 million in Loughborough to boost local drug delivery development and manufacturing capabilities Overall, it is expected that the investments will support more than 1,000 jobs across regional innovation hubs, according to Kenan Poleo, director of the UK Office for Life Sciences (OLS). "These numbers matter. But what matters even more is what sits behind them: companies choosing the UK to invest, innovate and grow, talented people getting high-quality jobs, and patients ultimately benefiting from new treatments," he added. "Lots still to do, but today is another important vote of confidence in UK life sciences." The Association of the British Pharmaceutical Industry (ABPI) welcomed the investment, along with the government's maintaining the corporation tax cap at 25% and maintaining full expensing - a tax relief that allows companies to deduct 100% of their spending on qualifying plant and machinery from taxable profits in the year the purchase is made. The trade body said it was also pleased by new powers under the Regulation for Growth Bill to test innovative products, including medicines and medical devices, in a supervised, time-limited, live-market environment. VAT move on free medicines applauded. Another key development was the closure of a VAT loophole that has made it difficult for pharma manufacturers to make medicines available to patients for free. The longstanding issue was the policy of HM Revenue and Customs (HMRC) to treat free-of-charge medicine supplies as "deemed supplies" or barter transactions and so subject to a 20% VAT charge, even though no money changed hands. That means that, until now, companies could face a VAT bill on medicines they provided without receiving any payment. Drugmakers mainly provide drugs for free to patients in the context of early access programmes for those that address an unmet clinical need, compassionate use for patients who have exhausted other treatment options, or post-trial care that plugs the gap between the end of studies and a medicine becoming approved and funded by the NHS. In some cases, companies agree to make a medicine available for free to the health service while further evidence of benefit in real-world settings is gathered. "Removing the VAT charge on medicines that companies provide free of charge is a significant win for patients, lifting a barrier to access, protecting continuity of care and supporting the clinical research that brings new treatments to the UK," said Joe Edwards, executive director for UK competitiveness at the ABPI. "We support this measure, which follows sustained work by patient groups, the ABPI and our members to inform this change," he added. "We will keep working together to ensure the relief is simple to use and covers the full range of programmes that matters to patients." 29 October, 2026

£300m Oxford biotech facility among Budget initiatives unveiled for South East. 28 Oct 2026, 15:59 A "cautious" first Budget from the Chancellor nonetheless featured a number of developments for the South East - including major funding for biotech, where the region excels. This year's full Budget document included news that American biotech Vertex Pharmaceuticals will invest more than £300m in a new 155,000 sq ft research facility at Harwell Campus in Oxfordshire. Construction of the facility, which is hoped will help accelerate the discovery of transformative medicines, is slated to begin in early 2027 and will support more than 200 jobs. The initiative was one of three public-private investments unveiled in the Budget, totalling more than £1bn and backed by almost £70m in grant funding. The Oxford-Cambridge Growth Corridor, much touted over the past year, was given another nod as the government confirmed it would pilot a new financing model for the Greater Cambridge Development Corporation, "giving it direct access to government finance for land assembly and to invest alongside private partners". A consultation is to be launched on a development corporation in Oxford "by the end of the year", with a similar pilot planned for the city. The Chancellor also pledged more than £75m to the CoSTAR network of labs anchored in Buckinghamshire and Surrey as well as Yorkshire, Dundee and Belfast. There was no news in the Budget on a third runway at Heathrow Airport as "the government works at pace to consider responses to the consultation", with an update promised "as soon as possible". Meanwhile, debt relief of £500m from the Public Works Loan Board (PWLB) was confirmed for the beleaguered Woking Borough Council.

Vertex Pharmaceuticals Incorporated $VRTX stock position boosted by Sigma Planning Corp. October 28, 2026 Key points. * Sigma Planning Corp increased its Vertex Pharmaceuticals stake by 249.4% in the third quarter, ending with 3,609 shares valued at approximately $1.88 million. Institutional investors and hedge funds collectively own 90.96% of Vertex. * Vertex shares opened at $521.03, with a 12-month range of $403.16 to $560.25 and a market capitalization of $132.24 billion. The company's latest quarterly revenue rose 12.5% year over year to $3.33 billion, though earnings per share narrowly missed estimates. * Analysts remain generally optimistic, with a consensus "Moderate Buy" rating and an average price target of $579.81; price targets from several firms were recently raised. Investors are also focused on Vertex's upcoming third-quarter results and the growth of non-cystic-fibrosis products such as Casgevy and Journavx. * MarketBeat All Access makes it easier to follow Vertex Pharmaceuticals with alerts, analyst ratings, and deeper research - now $149 a year with your rate locked in. Sigma Planning Corp boosted its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 249.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,609 shares of the pharmaceutical company's stock after acquiring an additional 2,576 shares during the quarter. Sigma Planning Corp's holdings in Vertex Pharmaceuticals were worth $1,884,000 at the end of the most recent reporting period. Several other large investors also recently bought and sold shares of the company. Community Financial Services Group LLC purchased a new position in shares of Vertex Pharmaceuticals in the second quarter valued at $26,000. Meeder Asset Management Inc. acquired a new stake in shares of Vertex Pharmaceuticals during the second quarter valued at about $26,000. Elevation Wealth Partners LLC increased its holdings in Vertex Pharmaceuticals by 103.7% during the 2nd quarter. Elevation Wealth Partners LLC now owns 55 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 28 shares during the last quarter. Pingora Partners LLC acquired a new stake in Vertex Pharmaceuticals in the second quarter valued at $32,000. Finally, City Holding Co. raised its stake in shares of Vertex Pharmaceuticals by 128.1% in the 2nd quarter. City Holding Co. now owns 73 shares of the pharmaceutical company's stock valued at $36,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 90.96% of the company's stock. Vertex Pharmaceuticals price performance. NASDAQ VRTX opened at $521.03 on Wednesday. Vertex Pharmaceuticals Incorporated has a 12 month low of $403.16 and a 12 month high of $560.25. The firm has a market capitalization of $132.24 billion, a PE ratio of 30.33 and a beta of 0.28. The company's 50 day simple moving average is $523.05 and its 200 day simple moving average is $478.30. Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last released its earnings results on Monday, August 3rd. The pharmaceutical company reported $4.73 earnings per share for the quarter, missing analysts' consensus estimates of $4.74 by ($0.01). The business had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.23 billion. During the same period last year, the business earned $4.52 EPS. Vertex Pharmaceuticals's revenue for the quarter was up 12.5% compared to the same quarter last year. Sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 16.74 earnings per share for the current fiscal year. More Vertex Pharmaceuticals news. Here are the key news stories impacting Vertex Pharmaceuticals this week: * Analysts are broadly bullish on Vertex, supporting investor confidence in the company's long-term growth prospects. * Several earnings previews anticipate a third-quarter beat, citing resilient demand for the cystic-fibrosis franchise Trikafta, growth from Alyftrek, and rising sales of Casgevy and Journavx. * Investors are increasingly watching whether Casgevy and Journavx can help Vertex achieve management's approximately $500 million non-cystic-fibrosis revenue target, which would demonstrate progress toward diversification. * Vertex is scheduled to report third-quarter results on November 2. The report and management's outlook are likely to be the next major catalysts for the stock. * A comparison with Amgen found that Amgen generates substantially higher absolute revenue, while Vertex has delivered a steadier, gradual upward revenue trend over roughly the past eight quarters. * Recent ETF net selling and a prior session of underperformance versus broader market gains indicate some near-term selling pressure, though reported short interest was zero as of October 26. Analyst upgrades and downgrades. Several equities analysts recently issued reports on the company. Evercore raised their price objective on Vertex Pharmaceuticals from $535.00 to $600.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 2nd. Cantor Fitzgerald increased their price objective on Vertex Pharmaceuticals from $590.00 to $595.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Royal Bank Of Canada increased their price target on Vertex Pharmaceuticals from $570.00 to $576.00 and gave the stock an "outperform" rating in a research note on Thursday, October 8th. Morgan Stanley started coverage on Vertex Pharmaceuticals in a report on Tuesday, September 1st. They set an "overweight" rating and a $665.00 price target on the stock. Finally, Daiwa Securities Group lifted their price objective on shares of Vertex Pharmaceuticals from $555.00 to $556.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $579.81. Vertex Pharmaceuticals company profile. Vertex Pharmaceuticals Incorporated is a global biotechnology company focused on developing and commercializing medicines for serious diseases. Founded in 1989 and headquartered in Boston, Massachusetts, the company applies expertise in the science of human disease to discover therapies that address significant unmet medical needs. Vertex is best known for its cystic fibrosis portfolio, which includes Kalydeco, Orkambi, Symdeko/Symkevi, and Trikafta/Kaftrio. These medicines target the underlying cause of cystic fibrosis for patients with specific mutations in the CFTR gene. Want to see what other hedge funds are holding VRTX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report). This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. 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