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DewDiligence

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Re: DewDiligence post# 160563

Tuesday, 10/29/2013 9:16:10 AM

Tuesday, October 29, 2013 9:16:10 AM

Post# of 257406
VRTX axes 370 jobs amid collapse of Incivek franchise:

http://finance.yahoo.com/news/vertex-cuts-jobs-forecast-hep-123903575.html

Vertex Pharmaceuticals Inc lowered its full-year revenue forecast and said it would cut about 370 jobs after sales of its hepatitis C drug plunged in the third quarter. Vertex said it would incur a restructuring charge of about $35 million to $45 million in 2013 related to the job cuts.

Incivek sales fell 66% [YoY] to $85.6 million in the third quarter.

VRTX’s own PR on the layoff: http://finance.yahoo.com/news/vertex-focuses-investment-future-opportunities-120400421.html .

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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