Cambridge, MA, May 6, 2004 -- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) announced today results of the voting at its 2004 Annual Meeting of Shareholders. Joshua Boger, Ph.D., Chairman and Chief Executive Officer of Vertex also provided a brief overview of the Company to shareholders in attendance at the meeting.
At the meeting, shareholders voted to elect all five Vertex nominees to the Board of Directors. Three directors were re-elected to serve three-year terms expiring in 2007, including Dr. Joshua Boger, Charles Sanders, M.D., retired Chief Executive Officer and Chairman of Glaxo Inc., and Elaine Ullian, President and Chief Executive Officer of Boston Medical Center.
Shareholders also elected Eve Slater, M.D., F.A.C.C., and John Niblack, Ph.D., to serve as directors to terms expiring in 2006 and 2005, respectively, filling two vacancies. Dr. Slater is the former Assistant Secretary for Health, U.S. Department of Health and Human Services and former Senior Vice President, Merck Research Labs External Policy and Senior Vice President, Clinical and Regulatory Development, Merck Research Laboratories. Dr. Niblack retired in 2002 as Vice Chairman of the Board of Directors and President, Pfizer Global Research and Development.
A second proposal to amend the Vertex Employee Stock Purchase Plan was also approved by shareholders.
"We have an unusually distinguished group of board members who bring many years of collective business experience spearheading key discovery, development and commercialization activities at leading pharmaceutical and technology companies, as well as significant experience in the delivery and use of novel medicines in clinical practice," stated Joshua Boger, Ph.D., Chairman and Chief Executive Officer of Vertex. "The vote to elect all five directors demonstrates the confidence our shareholders have in the expertise of our board as well as the commitment of our board members to guide the advancement and growth of Vertex in the years ahead."
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 partners. Vertex's product pipeline is principally focused on viral diseases, inflammation, autoimmune diseases and cancer. Vertex co-promotes the new HIV protease inhibitor Lexiva(TM) (fosamprenavir calcium) with GlaxoSmithKline.
Lexiva(TM) 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 risk that Vertex's development efforts will not succeed, and other risks listed under Risk Factors in Vertex's Form 10-K filed with the Securities and Exchange Commission on March 15, 2004.
Lynne Brum, Vice President, Corporate Communications and Financial Planning, (617) 444-6614
Michael Partridge, Director, Corporate Communications (617) 444-6108
Lora Pike, Manager, Investor Relations (617) 444-6755