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Vertex To Sell 7 Million Shares of Stock

Vertex Pharmaceuticals, the developer of telaprevir for hepatitis C, said today it is planning to sell 7 million new shares of stock. Goldman, Sachs & Co. is serving as the sole book-runner for the offering. Cambridge, MA-based Vertex (NASDAQ: VRTX) closed at $26.57 yesterday, down 5.6 percent on the day. The company had $832 million in cash and investments on hand at the end of June.