Vertex appears to be ahead of competitors like Merck, who are testing similar drugs.
So by indicating its combination treatment could successfully improve lung functioning, Vertex scored a big win.
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The uncertainty sent Vertex stock gyrating because the initial data suggested prescriptions had stopped growing.
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The CF drug wasn't a big factor in the deal, but it became important to Vertex.
Today Vertex released more data from that study at a medical meeting in Orlando.
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Vertex has started a combo-drug strategy, too, but it could still lose its early advantage.
Following the presentation of the results, Vertex will hold a conference call at 4 P.
Vertex says it is working on ways to reduce the dropout rate in future trials.
Vertex is completing midstage testing of its drug telaprevir, a hepatitis C protease inhibitor.
Vertex shares have quadrupled in value over the past two years on optimism about its drug.
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Vertex's stock sank 13% on Oct. 18 when Schering-Plough touted promising results for its rival protease inhibitor.
Vertex reports that nationally the average sales tax bite rose in just one year by a ninth.
Vertex has already surmounted an array of problems since it started working on hep C in 1993.
But others, including Schering-Plough and Vertex Pharmaceuticals, prevailed and now have protease inhibitors in early human trials.
He watched the presentation, receives no consulting money from Vertex and was not involved in the study.
If Merck can improve those low expectations at all, it could be enough to make Vertex investors skittish.
But a smarter strategy might be to buy a basket of stocks including Vertex, Idenix, Pharmasset and Intermune.
But if Boger is right, Vertex will become one of the first success stories of the genome era.
The third is Vicki Sato, who serves on the BMS Board, and was formerly of Vertex and Biogen.
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Vertex plans to conduct additional studies of VX-661 to further evaluate its potential for late-stage development, pending regulatory discussions.
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Bernstein, a Vertex bull, wrote in a note to investors that Incivek is doing even better than they think.
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But many on Wall Street have been giving the inside track to a rival drug, Incivek from Vertex Pharmaceuticals.
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Vertex could snag a chunk of that--if its drug is safe and effective.
Right now that drug doesn't look as potent as Vertex's drug, based on the limited data available, says Markowitz.
About this time Vertex biologist Michael Su became curious about a related kinase that plays a role in strokes.
Still, Schoenebaum says that Vertex shares are fairly valued at their current price.
Meanwhile, Vertex, a British call-centre firm owned by United Utilities, bought an American debt collector called First Revenue Assurance.
The result is a big win for developer Vertex Pharmaceuticals and its partner, the Cystic Fibrosis Foundation, a patient group.
Just about everyone on Wall Street expects Vertex to win this duel, as its results have looked best so far.
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