BOSTON (Thomson Financial) - Vertex Pharmaceuticals Inc. Monday said it has
sold its rights to future royalties in Lexiva and Agenerase under its license
agreement with GlaxoSmithKline for $160 million in cash.
Lexiva is an HIV protease inhibitor for the treatment of HIV/AIDS infection
sold by GlaxoSmithKline worldwide. Agenerase was the first product developed
under the collaboration with GlaxoSmithKline and has been largely replaced in
worldwide markets by Lexiva.
Vertex said the transaction will provide it with additional capital to
support and advance its position in hepatitis C drug development.
Shares of the Cambridge, Mass.-based biotechnology company closed Monday at
$28.48.
Casey Logan
cl/vj
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