Uncertainty has weighed on stocks over the past several weeks, pushing the three major indexes lower -- the S&P 500 (^GSPC -0.07%) even temporarily slid into a bear market. What's driven this negative momentum is investors' concerns about the potential impact of import tariffs on corporate earnings. President Donald Trump earlier last month announced a broad set of tariffs on countries worldwide. The result of this could be higher prices at home, dragging down companies' sales and increasing their costs.

The president halted most tariffs temporarily to allow for negotiations, a move that's positive, as it suggests final duties might be lower than those initially announced. Still, investors have been eager to get in on stocks with low exposure to this upcoming headwind. These would be companies that produce a great deal of their products in the U.S. or in a variety of countries that are likely to face low tariff levels.

Right now, a fantastic tariff safe-haven stock, one that's climbed nearly 70% in three years, is offering investors a great buying opportunity. This top biotech player has lost about 15% over the past few days, but for a reason that won't impact its long-term growth. Let's check out my favorite tariff safe-haven stock to buy on the dip.

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Billions of dollars in annual revenue

This particular biotech company brings in billions of dollars in revenue annually -- and is highly profitable -- thanks to its specialty of treating cystic fibrosis (CF). And the company is well on the way to expanding into other billion-dollar areas thanks to product approvals over the past year or so. I'm talking about Vertex Pharmaceuticals (VRTX -1.05%), maker of the game-changing CF drugs known as CFTR modulators.

This type of CF treatment fixes the faulty protein that triggers the symptoms of the disease. Different mutations are responsible for different problems with this protein, so CF is not a one-drug-fits-all disease -- but Vertex's flagship drug, Trikafta, is able to address 90% of the population with CF.

And its newly approved Alyftrek goes even further. It's shown efficacy in additional mutations, it comes in a once-daily rather than twice-daily pill form, and it's decreased sweat chloride levels even more than Trikafta -- lower levels suggest better protein function.

Last year, Vertex's ensemble of CF treatments brought in more than $11 billion in revenue, and in the recent quarterly report, the company said the newly approved Alyftrek was off to a good start. The company said during its earnings call that it's "pleased with the early launch dynamics and physician and patient feedback." And that statement also applies to another new launch -- non-opioid painkiller Journavx.

Three products to drive growth

Vertex expects to transition Trikafta patients to Alyftrek and build a multibillion-dollar pain management business, starting with this initial approval of Journavx for moderate-to-severe acute pain. The company also soon should start to benefit from the rollout of its gene editing therapy, Casgevy, in the coming quarters.

So, why did Vertex shares drop after the earnings report this week? The company said an illegal CF generic drug dispensed in Russia weighed on international sales -- the good news, though, is Vertex says this issue only involves the Russian market, and Vertex accounted for this headwind in its full-year outlook.

And even considering this challenge, Vertex increased the low-end of its full-year revenue guidance to $11.85 billion from $11.75 billion -- the high end remains at $12 billion. It's also important to remember that Alyftrek and Journavx just launched over the past few months, and as a gene-editing therapy, Casgevy, launched last year, takes longer to roll out than standard medications. But all of these treatments should start to contribute significantly to revenue in the quarters ahead, making now a great time to get in on Vertex stock.

A tariff safe haven

Now, let's talk about why Vertex is close to tariff-proof. The company, during its earnings call, forecast an "immaterial cost impact from tariffs." This is due to the fact that Vertex isn't highly exposed to China -- the focus of Trump's import tariffs -- and Vertex's supply chain is spread across geographies. A key detail here is the company produces most of its CF drugs in the U.S. So there's reason to be confident Vertex won't face significant headwinds from tariff developments ahead.

Meanwhile, the recent decline has left Vertex shares trading at 23x forward earnings estimates, down from more than 28x earlier this year. This looks dirt cheap, considering the company's dominance in CF and the new growth drivers in CF and other treatment areas thanks to the recently approved drugs I mentioned. On top of this, Vertex offers you a safe haven in an import tariff environment.

All this is why this biotech player is the perfect stock to buy now and hold on to as its new chapter of growth unfolds.