CAMBRIDGE, Mass., Sep 22, 2008 (BUSINESS WIRE) -- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced that the underwriter has exercised in full its option to purchase 1,125,000 shares of common stock at a public offering price of $25.50 per share. The exercise of the option brings the total shares of common stock to be sold by Vertex in the offering to 8,625,000 shares. Vertex expects to receive gross proceeds from the offering, before commissions and expenses, of approximately $220.0 million.
Goldman, Sachs & Co. is acting as the sole book-runner for the offering.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. An automatically effective shelf registration statement relating to the shares of common stock Vertex intends to sell has been filed with the Securities and Exchange Commission. Any offer of shares of common stock will be made only by means of a prospectus, including a prospectus supplement, forming a part of the automatically effective shelf registration statement. A copy of the prospectus for the offering can be obtained from Goldman, Sachs & Co.'s prospectus department, at 85 Broad Street, New York, New York 10004, Fax: 212-902-9316 or Email at firstname.lastname@example.org.
Vertex Pharmaceuticals Incorporated is a global biotechnology company committed to the discovery and development of breakthrough small molecule drugs for serious diseases. The Company's strategy is to commercialize its products both independently and in collaboration with major pharmaceutical companies. Vertex's product pipeline is focused on viral diseases, inflammation, autoimmune diseases, cancer, pain and cystic fibrosis. Vertex co-discovered the HIV protease inhibitor, Lexiva, with GlaxoSmithKline.
Lexiva is a registered trademark of the GlaxoSmithKline group of companies.
SOURCE: Vertex Pharmaceuticals Incorporated
Vertex Pharmaceuticals Incorporated Michael Partridge, 617-444-6108 Senior Director, Strategic Communications or Lora Pike, 617-444-6755 Manager, Investor Relations
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