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Vertex Pharmaceuticals (NASDAQ: VRTX) has made a fortune developing medicines for cystic fibrosis (CF), a rare disease that causes damage to the lungs. The company is awaiting approval for exa-cel -- a therapy for the blood disorder sickle cell disease -- which it developed in combination with CRISPR Therapeutics. Recently, these two longtime partners announced a new deal to target another disease, type 1 diabetes (T1D).
The market has kept investors on a rollercoaster ride over the past year, and the choppy waters may continue for some time to come. No one can predict when smooth waters may be here to stay, particularly given the ongoing economic volatility that's affecting the current investing environment. Here are two such stocks to consider buying in the near future, regardless of whether another full-fledged bear market appears in 2023.
The stock market is in a precarious place. The sharp rise in both interest rates and bond yields has weighed heavily on most stocks since the first quarter of 2022. The top-shelf drugmakers Novartis (NYSE: NVS) and Vertex Pharmaceuticals (NASDAQ: VRTX) are two prime examples.