Press Release
Vertex Pharmaceuticals Announces Exercise of Option by Underwriters of its Public Offering of Common Stock
CAMBRIDGE, Mass., Dec 04, 2009 (BUSINESS WIRE) -- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced that the underwriters of its public offering have exercised in full their option to purchase an additional 1,500,000 shares of common stock at the public offering price of $38.50 per share. The exercise of the option brings the total shares of common stock sold by Vertex in the offering to 13,000,000 shares. Vertex expects to receive total gross proceeds from the offering, before commissions and expenses, of $500.5 million.
Goldman, Sachs & Co. is acting as the sole book-running manager for the offering, with BofA Merrill Lynch, J.P. Morgan Securities Inc., and Morgan Stanley & Co. Incorporated acting as co-managers.
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 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 prospectus-ny@ny.email.gs.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 focused on viral diseases, cystic fibrosis, inflammation, autoimmune diseases, cancer and pain.
Vertex co-discovered the HIV protease inhibitor, Lexiva, with GlaxoSmithKline.
Lexiva is a registered trademark of the GlaxoSmithKline group of companies.
(VRTX - GEN)
SOURCE: Vertex Pharmaceuticals Incorporated
Vertex Pharmaceuticals Incorporated
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