Vertex to Lay off 15% Due to Plunging Hep C Drug Sales

Oct 29, 2013

Reuters

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.

Read the original press release on Reuters

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