A Financial Perspective

Today, Vertex has the potential to make major leaps forward in the treatment of diseases such as hepatitis C virus (HCV) and cystic fibrosis (CF) while also delivering value for the Company´s shareholders. To achieve its primary goal to bring innovations to the patients who need them, Vertex is balancing its financial position and investment risk to protect late-stage product opportunities in HCV and CF while also investing in the creation of new compounds from research.

Today, a strong financial position supports the Company´s continued advancement and growth as it evolves into a fully-integrated pharmaceutical company. At the start of 2009, Vertex had approximately $832 million in cash, cash equivalents and marketable securities, and further bolstered this position in the first quarter of 2009 by raising approximately $313 million*. Also in early 2009, Vertex acquired ViroChem Pharma, a privately-held drug discovery and development firm with two novel HCV polymerase inhibitors, in a cash and stock transaction. As development efforts in HCV and CF advance, Vertex plans to utilize other non-core assets emerging from its research and discovery engine as potential sources of collaborative revenue and cash flow for 2009 to contribute to the management of the Company´s operating investment.

Vertex recognizes today´s changing market dynamics and will seek to make disciplined financial decisions to maintain balance sheet strength, support key 2009 business objectives and, most importantly, to advance medical innovations toward the patients who need them.

These data are derived from our consolidated financial statements. Our audited consolidated financial statements, including the related footnotes and "Management´s Discussion and Analysis of Financial Condition and Result of Operations," are included in our 2008 Annual Report on Form 10-K.

*In the first quarter of 2009, Vertex raised approximately $313 million in net proceeds in a public offering of common stock, which is not included in the year-end 2008 figure.