Despite the initial success of Vertex Pharmaceuticals' hepatitis C treatment, Incivek, in 2011, competition from all-oral hepatitis C treatments has damaged sales.
The coming all-oral treatments, such as Gilead Sciences' sofosbuvir, will not have to be taken with the injected drug interferon, which causes flu-like symptoms.
In response, Vertex will cut 370 jobs to transition away from Inciviek and focus on developing its cystic fibrosis drug, Kalydeco, for wider use.