Your question is Biopharma Business Model Basics. Take a moment with it on the right.
Talk me through your thinking if you like. When you're confident, submit your answer and I'll grade it like a real screen (7/10 or better passes).
How would you explain the basic business model of a biopharmaceutical firm, including the high cost of R&D and the phases of clinical trials, in the context of Vertex Pharmaceuticals?