CAMBRIDGE, Mass., May 31 /PRNewswire-FirstCall/ -- Vertex Pharmaceuticals
Incorporated (Nasdaq: VRTX) today announced plans to offer 9,500,000 shares of
its newly issued common stock in an underwritten public offering. The
offering will be made pursuant to the Company's effective shelf registration
statement previously filed with the Securities and Exchange Commission on
April 1, 2005. Vertex also expects to grant the underwriters a 30-day option
to purchase an additional 1,425,000 shares to cover over-allotments, if any.
Merrill Lynch, Pierce, Fenner & Smith Incorporated is acting as the sole
book-running manager in this offering. J.P. Morgan Securities Inc. and UBS
Securities LLC are 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 state in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state. A shelf registration statement relating to the shares of
common stock that the Company intends to sell has previously been filed with,
and declared effective by, 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 effective
registration statement. A copy of the prospectus can be obtained from Merrill
Lynch's prospectus department, at 4 World Financial Center, New York, NY
10080, 212-449-1000.
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. Vertex co-promotes
the HIV protease inhibitor, Lexiva(R), with GlaxoSmithKline.
Lexiva(R) is a registered trademark of the GlaxoSmithKline group of
companies.
Vertex's press releases are available at http://www.vrtx.com
Vertex Contacts:
Lynne H. Brum, VP, Corporate Communications and Financial Planning,
(617) 444-6614
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:
Lynne H. Brum, VP, Corporate Communications
and Financial Planning, +1-617-444-6614, Michael Partridge,
Director, Corporate Communications, +1-617-444-6108, or Lora
Pike, Manager, Investor Relations, +1-617-444-6755, all of Vertex
Pharmaceuticals Incorporated
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