News & Events

CAMBRIDGE, Mass., May 04, 2009 (BUSINESS WIRE) -- Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) today announced that Dr. Peter Mueller, Vertex's Executive Vice President, Drug Innovation and Realization and Chief Scientific Officer, will expand his leadership responsibilities to cover all of Vertex's global research and development, including clinical and non-clinical development, clinical operations, medical and regulatory affairs as of May 15, 2009 upon Freda Lewis-Hall's departure. In this new role, Dr. Mueller will become Vertex's Executive Vice President, Global Research and Development and Chief Scientific Officer.

"Peter's proven leadership in drug discovery and research, pharmaceutical development and manufacturing operations, along with his prior experience leading drug development groups within a major pharmaceutical company, provides Vertex with important integration of leadership for our clinical development programs in hepatitis C and cystic fibrosis at an important time in the Company's evolution. Peter's operational focus and expertise in our business spanning more than two decades in the pharmaceutical industry positions him uniquely to assume these expanded responsibilities," said Matthew Emmens, President, Vertex Pharmaceuticals Incorporated.

In addition to these new responsibilities, Dr. Mueller will retain his current leadership for drug discovery and research, as well as pharmaceutical development, quality assurance and control and pharmaceutical operations. Prior to joining Vertex in 2003, Dr. Mueller held worldwide responsibility for development of all drug candidates as Senior Vice President of Research and Development for Boehringer Ingelheim Pharmaceuticals, Inc.

"Today, we have the opportunity to further integrate our research, development and manufacturing capabilities as we evolve our Company to realize the market opportunities that lie ahead of us. In doing so, I look forward to working closely with Kurt Graves, Executive Vice President, Chief Commercial Officer and Head, Strategic Development to achieve our goal of delivering valuable therapies to patients by utilizing the most innovative and effective commercial strategies," said Peter Mueller.

Also, Vertex today announced that Dr. Freda Lewis-Hall, Executive Vice President, Medicines Development and Chief Medical Officer will be departing Vertex on May 15, 2009 to pursue another business opportunity.

"It has been a pleasure working with Freda Lewis-Hall who brought great knowledge, experience and passion to our medicines development group. With her leadership we have successfully advanced telaprevir (VX-950) and VX-770 into the later stages of development and are on track to meet our development timelines. We thank Freda for her committed service and wish her the best in her next endeavor," said Joshua Boger, Chief Executive Officer, Vertex Pharmaceuticals Incorporated.

About Hepatitis C

Hepatitis C is a liver disease caused by the hepatitis C virus (HCV), which is found in the blood of people with the disease. HCV is a serious public health concern affecting 3.4 million individuals in the United States that is spread through direct contact with the blood of infected people. Though many people with HCV infection may not experience symptoms, others may have symptoms such as jaundice, abdominal pain, fatigue and fever. Chronic HCV significantly increases a person's risk for developing long-term infection, chronic liver disease, cirrhosis or death. The burden of liver disease associated with HCV infection is increasing, and current therapies typically provide sustained benefit in less than half of patients with genotype 1 HCV, the most common strain of the virus. As many as 250,000 patients in the United States have received at least one course of treatment with pegylated interferon and ribavirin but have not achieved sustained virologic response. Patients who have failed interferon-based treatment typically have few or no available treatment options, and are at risk for progressive liver disease.

About Cystic Fibrosis

Cystic fibrosis is a genetic disease affecting approximately 30,000 people in the United States and 70,000 people worldwide. Mutations in the CFTR gene cause patients with CF to have defective or missing CFTR proteins at their cell surfaces. These defective or missing CFTR proteins result in poor chloride ion flow across cell membranes, causing the body to produce abnormally thick, sticky mucus that leads to chronic, life-threatening lung infections. Today, the median predicted age of survival for a person with CF is more than 37 years.

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 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.

Special Note Regarding Forward-looking Statements

This press release contains forward-looking statements, including statements that (i) Vertex is evolving its management structure to help realize market opportunities that lie before it; (ii) the Company's goal is to deliver valuable therapies to patients by utilizing the most innovative and effective commercial strategies; and (iii) Vertex is on track to meet its development timelines for HCV therapies. While the Company believes the forward-looking statements contained in this press release are accurate, there are a number of factors that could cause actual events or results to differ materially from those indicated in the forward-looking statements. Those risks and uncertainties include, among other things, that the outcomes from any one or all of its ongoing clinical trials of telaprevir and its cystic fibrosis drug candidates may not be favorable notwithstanding any evolution in the Company's management structure or its current expectations and goals, that regulatory authorities may require supplemental trials in order to support registration of telaprevir or other drug candidates, that unexpected and adverse drug safety experience in any one or more of its ongoing trials could negatively impact development timelines and commercial possibilities for any drug candidate, that Vertex may not be able to implement highly innovative and effective commercial strategies due to budgetary, regulatory, management or other reasons, that those strategies, once implemented, may not have their desired effect, 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 Company's website at www.vrtx.com. We disclaim any obligation to update the information contained in this press release as new information becomes available.

(VRTX - GEN)

SOURCE: Vertex Pharmaceuticals Incorporated

Vertex Pharmaceuticals Incorporated
Media:
Jane A. Kramer, 617-444-6924
or
Zachry Barber, 617-444-6470
or
Investors:
Michael Partridge, 617-444-6108

Copyright Business Wire 2009