Sep 15, 2011

Vertex Named Top Biopharma Employer by Science

-Vertex hiring for 150 jobs across the company to support global growth; Company plans to add more than 500 jobs through 2015-

CAMBRIDGE, Mass.--(BUSINESS WIRE)-- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced that Science has ranked the company #1 in the magazine's annual list of top employers in the biopharmaceutical industry. The ranking is the result of an independent survey of nearly 4,000 people commissioned by Science and the American Academy for the Advancement of Science that rated the top 20 companies based on 23 characteristics. Science cited three top characteristics for Vertex: does important, quality research; is an innovative leader in the industry; and treats employees with respect. This is the second consecutive year that Vertex has been included among the top three companies. Additional information about the survey is available online today and in the October 7 issue of Science.

"We're honored to be recognized as an organization that is driven by science," said Peter Mueller, Ph.D., Executive Vice President, Global Research and Development, and Chief Scientific Officer for Vertex. "People who work at Vertex know we can make a real difference for patients by understanding the underlying cause of life-threatening diseases and using that knowledge to develop breakthrough medicines."

Vertex has created a number of programs to support its science-focused culture. The Science and Technology Exchange Program (STEP-OUT) provides Vertex researchers with the opportunity to take a break from their current role and explore a new scientific area of interest for a three-month period. Vertex also recognizes scientific excellence with its Outstanding Research Award, which is given each year to the Vertex researcher who performs the most innovative scientific work. Vertex scientists frequently work with other research collaborators, including academic institutions, non-profit foundations and other companies. Vertex also recently introduced two programs to help scientists learn more about and stay connected to the commercial part of the company: a ride-along program that enables researchers to shadow sales representatives for a day and another that ensures scientists are included on interview teams that select commercial employees.

Vertex was founded in Massachusetts in 1989, and since its inception, the company has invested more than $4 billion to discover and develop new medicines. In May 2011, the U.S. Food and Drug Administration approved a new Vertex medicine for people with hepatitis C. Vertex is also developing VX-770, a new approach to the treatment of cystic fibrosis (CF) that targets the underlying cause of the disease. The company plans to submit regulatory applications for approval of VX-770 in the United States and Europe in October. Also in development at Vertex are other potential new medicines for hepatitis C, CF, rheumatoid arthritis, epilepsy and influenza.

Vertex has research and development sites in the United States (Cambridge, San Diego and Coralville, IA), Canada (Laval, Quebec) and the United Kingdom (Oxfordshire, England). Since the start of 2010, the company has grown by more than 30 percent — from 1,400 employees to approximately 1,900 today. At the company's Massachusetts headquarters, Vertex employs more than 1,300 people and plans to add an additional 500 jobs in various parts of the company and at different levels through 2015 to support its continued growth. Vertex also recently announced plans to relocate its entire Massachusetts workforce into a new headquarters in the Innovation District of Boston. The new campus will consist of two buildings on Boston's Fan Pier, which are currently under construction. The project is the nation's largest ongoing private construction project. Vertex expects to relocate its Massachusetts workforce to Fan Pier beginning in late 2013.

Vertex in Canada

In addition to Vertex's growth in the United States, the company is also expanding its research and development site in Laval, Quebec, which Vertex established after acquiring Virochem Pharma, Inc. in 2009. Vertex is also rapidly expanding its commercial and medical teams to support future launches in Canada.

Vertex in Europe

Vertex recently expanded its presence in Europe, including increasing research and development capabilities in Oxfordshire, England. Vertex has also established a commercial presence in Geneva to prepare for the potential launch of VX-770 and to support the company's future growth.

About the Survey

The survey that generated this year's Top Employer list identified the companies with the best reputations as employers, based on 3,784 survey responses from readers of Science and other survey invitees. Survey participants came from North America (80 percent), Europe (12 percent), and Asia/Pacific Rim (6 percent); 89 percent worked in private industry. The responses were analyzed by The Brighton Consulting Group, which assigned a unique score to rate each company's employer reputation based on the survey results.

About Vertex

Vertex creates new possibilities in medicine. Our team discovers, develops and commercializes innovative therapies so people with serious diseases can lead better lives.

Vertex scientists and our collaborators are working on new medicines to cure or significantly advance the treatment of hepatitis C, cystic fibrosis, epilepsy and other life-threatening diseases.

Founded more than 20 years ago in Cambridge, MA, we now have ongoing worldwide research programs and sites in the U.S., U.K. and Canada.

Special Note Regarding Forward-looking Statements

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including statements regarding (i) Vertex planning to add more than 500 jobs through 2015; (ii) the possibility that Vertex can make a real difference for patients by understanding the underlying cause of life-threatening diseases and using that knowledge to develop breakthrough medicines; (iii) the plan to submit regulatory applications for VX-770 in the United States and Europe in October 2011; (iv) the plan to relocate Vertex's Massachusetts workforce to Fan Pier beginning in late 2013 and (v) Vertex's plans for growth in Massachusetts, Canada and the European Union. While Vertex believes the forward-looking statements contained in this press release are accurate, these statements are subject to risks and uncertainties that could cause actual outcomes to vary materially from the outcomes referenced in the forward-looking statements. These risks and uncertainties include, among other things, the risks that efforts to develop and obtain approval for its drug candidates may not proceed due to technical, scientific, commercial, financial or other reasons, that revenues may not be sufficient to support its future growth, and other risks listed under Risk Factors in Vertex's annual report and quarterly reports filed with the Securities and Exchange Commission and available through the Vertex's website at Vertex disclaims any obligation to update the information contained in this press release as new information becomes available.


Vertex Pharmaceuticals Incorporated
Dawn Kalmar, 617-444-6992

Source: Vertex Pharmaceuticals Incorporated

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