The four Boston-based investors that rank among the top holders of shares in Vertex Pharmaceuticals saw the value of their investments jump by more than $1 billion today after the company reported good news from a trial of drug which, if approved, would increase the number of cystic fibrosis patients worldwide who are treatable with its drugs by a factor of 10.
Wellington Management, which owns 16.3 million shares (about 7 percent of the total), alone earned a $440 million profit. State Street Corp. owns 10.2 million shares (4.3 percent), and netted $275 million; Columbia Management owns 8.0 million shares (3.4 percent) and made $215 million, and Fidelity, with 6.6 million shares (2.8 percent), earned $178 million.
The company plans to apply for approval of the drug. If approved next year as expected, analysts estimate it will earn $4 billion to $6 billion in annual revenue in just a couple years.
Note: In many cases, companies are custodians of shares whose value increased and do not actually own them. Company: Capital Group Cos. Number of Shares held: 37,810,277 Increase in shares' value: $1,017,852,657 Company: Blackrock Number of Shares held: 16,800,966 Increase in shares' value: $452,282,005 Company: Vanguard Group Number of Shares held: 16,388,650 Increase in shares' value: $441,182,458 Company: Wellington Management Number of Shares held: 16,282,460 Increase in shares' value: $438,323,823 Company: Jennison Associates Number of Shares held: 12,604,047 Increase in shares' value: $339,300,945 Company: T Rowe Price Group Inc. Number of Shares held: 10,164,898 Increase in shares' value: $273,639,054
