Biotech Values

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VRTX took a large one time charge to write down VX222 last qtr:

This includes a charge of $412,900,000 for the impairment of our HCV asset, VX-222. At this stage of development of our portfolio of HCV assets and given the progression of other regimens by other companies, we are able -- we are unable to support the fair value of VX-222 on our balance sheet. And accordingly, we are taking a write-down in the value of this intangible asset. We also record a tax benefit for VX-222 of $127.6 million, results in a net charge of $285 million.