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Biotech / Medical : Vertex Pharmaceuticals (VRTX)

VRTX 434.30

-0.7%

10:09 AM EST

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To: Miljenko Zuanic who wrote (368)	11/29/1999 10:02:00 AM
From: scaram(o)uche	Read Replies (1) of 1169

Boger keeps a promise....... Under the terms of the agreement announced today, Vertex will receive initial payments, research funding and milestones from Taisho. In addition, Taisho will also pay for up to one-third of the cost of developing compounds that emerge from the ongoing caspase research program. Taisho will have an option to obtain marketing rights to any compounds arising from the collaboration in Japan and certain Far East markets. Vertex retains exclusive development and marketing rights in Europe, North America, and other regions outside the Far East. Vertex will receive approximately $4 million in initial payments from Taisho, a portion of which will be realized as collaborative revenue in the fourth quarter of 1999. The Taisho collaboration does not include rights to Vertex's ICE (caspase-1) program. Clever.

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