News & Events

Cambridge, MA, May 11, 2006- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced results of the voting at its 2006 Annual Meeting of Stockholders. Joshua Boger, Ph.D., President and Chief Executive Officer of Vertex, also provided stockholders in attendance at the meeting with a brief overview of the Company's 2006 clinical and corporate objectives.

At the meeting, stockholders approved the Vertex Pharmaceuticals Incorporated 2006 Stock and Option Plan and also re-elected all three director nominees. Each of the director nominees, Eric K. Brandt, Bruce I. Sachs, and Eve E. Slater, M.D., F.A.C.C., received a majority of votes cast. Their terms will expire at the 2009 Annual Meeting of Stockholders.

"I am pleased to announce that Eric Brandt, Bruce Sachs and Eve Slater have been re-elected to Vertex's Board," stated Dr. Boger. "Eric, Bruce and Eve bring a broad range of experience and expertise to our Board, and we expect that they will continue to make significant contributions to the Company in the years ahead."

At a Board of Directors meeting held subsequent to the Annual Meeting of Stockholders, the Board of Directors addressed two corporate governance issues: the creation of a non-executive Chairmanship of the Board of Directors and the adoption of a policy regarding the election of directors.

At the meeting of the Board of Directors, Charles A. Sanders, M.D. was appointed Chairman of the Board. Joshua Boger, who has been the Company's CEO since 1992, had served in the additional role of Chairman of the Board since 1997. The Board of Directors believes that the appointment of Dr. Sanders is appropriate at this time, in view of the current sentiment in the corporate community that the positions of Chairman of the Board and CEO should be held by separate individuals. Dr. Sanders has been a member of Vertex's Board since 1996 and serves as the Chair of the Corporate Governance and Nominating Committee of the Board of Directors. He has held various leadership positions at major pharmaceutical companies, including Chairman of Glaxo Inc. and Vice Chairman at Squibb Corporation. Dr. Boger will continue to serve as the Company's President and CEO.

"I am pleased to announce that Charles Sanders has agreed to serve as Chairman of Vertex's Board of Directors," continued Dr. Boger. "Charlie has been invaluable to the Company during his more than 10 years on our Board. As Chairman, he will strengthen the leadership of the Company as we continue to build our future."

In a further revision to the Company's governance practices, the Board of Directors also adopted a policy with respect to the election of directors. This policy will be incorporated into the Company's Statement of Governance Principles. Under the new policy, any nominee for director in an uncontested election who receives a greater number of votes "withheld" from his or her election than votes "for" his or her election will tender his or her resignation to the Board of Directors. The Corporate Governance and Nominating Committee will recommend to the Board either that the Board accept or reject any such resignation or the Board take some other action to address the underlying reasons for the outcome of the vote. The Company will make a public announcement of the Board of Directors' action on any resignation tendered under the new policy. The full Statement of Corporate Governance Principles can be found on Vertex's website at www.vrtx.com.

About Vertex
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 principally focused on viral diseases, inflammation, autoimmune diseases and cancer. In collaboration with GlaxoSmithKline, Vertex co-promotes the HIV protease inhibitor, Lexiva.

Lexiva is a registered trademark of the GlaxoSmithKline group of companies.

Vertex Safe Harbor Statement
This press release may contain forward-looking statements. While management makes its best efforts to be accurate in making forward-looking statements, such statements are subject to risks and uncertainties that could cause Vertex's actual results to vary materially. Those risks and uncertainties include the risks listed under Risk Factors in Vertex's Form 10-K filed with the Securities and Exchange Commission on March 16, 2006.

Webcast: Vertex Pharmaceuticals' Annual Meeting of Stockholders
An archived webcast of Vertex Pharmaceuticals' Annual Meeting of Stockholders is available via the Internet at www.vrtx.com in the investor center. The archived webcast will be available on Vertex's website until 5:00 p.m. EDT on May 25, 2006.

Vertex Contact:
Michael Partridge, Director, Corporate Communications, (617) 444-6108
Lora Pike, Manager, Investor Relations, (617) 444-6755