Vertex Falls After FDA Doubts Broad Use of Chronic Pain Drug (2)

Vertex Pharmaceuticals Inc. fell after an experimental pain drug failed to provide post-surgery benefits and US regulators said they didn’t see a path forward for broad use of its pill in treating a chronic pain condition.

Vertex has been trying to diversify beyond its core business of cystic fibrosis treatments. A key part of has been its new non-opioid pain drug, Journavx, which got US regulatory clearance in January. It was the first new type of painkiller to reach the US market in more than two decades.

Shares of Vertex fell as much as 18% on Tuesday, marking their biggest ...