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Biotech / Medical : Vertex Pharmaceuticals (VRTX) -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (434)	8/26/2000 1:09:20 AM
From: Doc Bones	Read Replies (1) \| Respond to of 1169

The charts never lie, if you can wait a bit. We weren't fooled by that little roller-coaster dip end of July: needed that to pick up momentum for the August climb. Several powerhouse biotechs have fared very well recently after splitting 2-1: SEPR, VRTX, PDLI (this week) - see that you're on PDLI too. Doc

To: 2MAR$ who wrote (434)	9/13/2000 6:40:25 PM
From: 2MAR$	Read Replies (1) \| Respond to of 1169

vrtx Raises $300 Million in Convertible Subordinated Debt Placement CAMBRIDGE, Mass., Sept. 13 /PRNewswire/ -- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) announced today the sale of $300 million of Convertible Subordinated Notes, due September 2007, through a Rule 144A offering to qualified institutional buyers. The initial purchasers have an option to purchase an additional $45 million of Notes to cover over-allotments, if any. The offering is expected to close on September 19, 2000. These Notes are convertible into Vertex Common Stock at a price equal to $92.26 per share, subject to adjustment in certain circumstances, which represents a 22.0% premium over today's closing bid of $75.625. The Notes bear an interest rate of 5.0% per annum, have a 7-year term, and can be redeemed by Vertex subject to specified conditions. (Photo: newscom.com ) Vertex expects to use the net proceeds of the sale to fund clinical trials, preclinical studies and research and development, to invest in technologies that support its chemogenomics approach, to potentially acquire technologies, resources and products that could broaden its drug discovery platform and pipeline, and for working capital and general corporate purposes. Vertex has agreed to file a registration statement for the resale of the Notes and the shares of Common Stock issuable upon conversion of the Notes within 90 days after the closing of the offering. This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. This summary of the terms and conditions of the Notes is not intended to be a complete summary of the terms and conditions of such securities. The Notes and the Common Stock issuable upon conversion of the Notes have not been registered under the Securities Act of 1933 or any state securities laws, and are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act. Unless so registered, the Notes and Common Stock issued upon conversion of the Notes may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. Vertex Pharmaceuticals Incorporated discovers, develops and markets small molecule drugs that address major unmet medical needs. Vertex has seven drug candidates in clinical development to treat viral diseases, inflammation, cancer, autoimmune diseases and neurological disorders. Vertex has created its pipeline using a proprietary, information-based approach to drug design that integrates multiple technologies in biology, chemistry and biophysics, aimed at increasing the speed and success rate of drug discovery. Vertex's first approved product is Agenerase(TM) (amprenavir), an HIV protease inhibitor, which Vertex co-promotes with Glaxo Wellcome. The foregoing information regarding Vertex's sale of Convertible Subordinated Notes is forward looking. While management makes its best efforts to be accurate in making forward-looking statements, any such statements are subject to risks and uncertainties that could cause Vertex's actual results to vary materially. Risk factors include uncertainties relating to the ability of the Company to use effectively the proceeds from the sale of the Notes. Investors are directed to consider other risks and uncertainties discussed in Vertex documents filed with the Securities and Exchange Commission. Vertex's press releases are available at www.vpharm.com, or by fax-on- demand at (800) 758-5804 - Code: 938395.