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Vertex Reports Fourth Quarter and Full-Year 2011 Financial Results
-Successful launch of INCIVEK (telaprevir) for hepatitis C and recent approval of KALYDECO (ivacaftor) for cystic fibrosis position Vertex for continued growth, earnings and cashflow-
Cambridge, MA, February 2, 2011 Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today reported consolidated financial results for the fourth quarter and full-year ended December 31, 2011.
The successful launch of INCIVEK in hepatitis C and rapid approval of KALYDECO for people with a specific type of cystic fibrosis underscore our ability to discover and develop breakthrough new medicines and to bring them to patients, said Jeffrey Leiden, M.D., Ph.D., President and Chief Executive Officer of Vertex. We will continue to advance our pipeline of eight other potential medicines and expect to generate proof-of-concept data for many of these programs throughout 2012. With two approved medicines and a diverse pipeline, Vertex is well-positioned to become a global business focused on creating additional medicines for people with serious diseases.
Development Program Updates
On January 8, 2012, Vertex provided a comprehensive update on the status of its development programs. The company today provided the following additional updates:
· FDA Approval of KALYDECO: On Tuesday, Vertex announced that the U.S. Food and Drug Administration (FDA) approved KALYDECOTM (ivacaftor), the first medicine to treat the underlying cause of cystic fibrosis (CF). KALYDECO was approved for people with cystic fibrosis ages 6 and older who have at least one copy of the G551D mutation in the cystic fibrosis transmembrane conductance regulator (CFTR) gene. The approval of KALYDECO was one of the fastest approvals ever by the FDA and marks the second approval of a new medicine from Vertex within the past nine months. Vertex today announced it has begun shipping KALYDECO to pharmacies in the United States.
The following information was filed by Vertex Pharmaceuticals Inc Ma (VRTX) on Thursday, February 2, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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