-- Eugene Cordes, Ph.D., Appointed to Vertex's Board of Directors --
CAMBRIDGE, Mass., May 11 /PRNewswire-FirstCall/ -- Vertex Pharmaceuticals
Incorporated (Nasdaq: VRTX) today announced results of the voting at its 2005
Annual Meeting of Shareholders. Joshua Boger, Ph.D., Chairman, President and
Chief Executive Officer of Vertex also provided shareholders in attendance at
the meeting with a brief overview of the Company's 2005 clinical and corporate
progress.
At the meeting, shareholders voted to re-elect all three nominees to the
Board of Directors. The directors, Roger Brimblecombe, Ph.D., Stuart
Collinson, Ph.D., and Matthew Emmens, were re-elected to serve three-year
terms expiring in 2008. Shareholders also approved an amendment to the
Company's By-laws to increase the size of the Board to a maximum of 11
directors.
"Vertex benefits from a strong and experienced Board of Directors, and it
is my pleasure to announce that Roger Brimblecombe, Stuart Collinson and
Matthew Emmens have been re-elected to Vertex's Board," stated Dr. Boger.
"Today, Vertex shareholders also voted to approve an amendment to increase the
maximum size of our Board. As Vertex advances toward becoming a major drug
company, this amendment will provide us with the flexibility to nominate new
members who have complementary skills and experience and who would enhance the
current Board."
Vertex today also announced that Eugene H. Cordes, Ph.D., has been
nominated and elected to the Company's Board of Directors as a non-executive
member. Dr. Cordes has been a member of the Company's Scientific Advisory
Board from 1995 to the present. Dr. Cordes has been a member of the faculty
of the University of Michigan at Ann Arbor since 1995, and is the Chairman of
Vitae Pharmaceuticals, Inc., a privately held pharmaceutical company. Dr.
Cordes holds a Bachelor of Science in Chemistry from the California Institute
of Technology and a Ph.D. in Biochemistry from Brandeis University.
Also today, the Board of Directors appointed Joshua Boger as President of
Vertex Pharmaceuticals in addition to his current roles as Chairman and Chief
Executive Officer of the Company. The executive officers of the Company
responsible for Drug Evaluation and Approval, Drug Discovery and Innovation,
Commercial Operations, Finance and certain other functions will report
directly to Dr. Boger.
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(R).
Lexiva(R) 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, 2005.
Webcast: Vertex Pharmaceuticals' Annual Meeting of Shareholders
An archived webcast of Vertex Pharmaceuticals' Annual Meeting of
Shareholders is available via the Internet at http://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, 2005.
Vertex Contacts:
Michael Partridge, Director, Corporate Communications, (617) 444-6108
Lora Pike, Manager, Investor Relations, (617) 444-6755
SOURCE Vertex Pharmaceuticals Incorporated
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Related links:
http://www.vrtx.com
Company News On-Call:
http://www.prnewswire.com/comp/938395.html
CONTACT:
Michael Partridge, Director, Corporate
Communications, +1-617-444-6108, or Lora Pike, Manager, Investor
Relations, +1-617-444-6755, both of Vertex Pharmaceuticals
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