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|Vertex Pharmaceuticals was incorporated in Massachusetts in 1989. The Company is engaged in the business of discovering, developing and commercializing small molecule drugs for the treatment of serious diseases. The Company’s two products are INCIVEK™ (telaprevir), which is approved for the treatment of patients with genotype 1 hepatitis C virus, or HCV, infection; and KALYDECO™ (ivacaftor), which is approved in the United States for the treatment of patients six years of age and older with cystic fibrosis, or CF, who have at least one copy of the G551D mutation in the cystic fibrosis transmembrane conductance regulator, or CFTR, gene. The Company has ongoing clinical programs involving drug candidates intended for the treatment of HCV infection, CF, rheumatoid arthritis, influenza and epilepsy. Its HCV clinical programs are focused on developing all-oral, interferon-free combinations of HCV drugs and drug candidates that have the potential to further improve treatment options available to patients with HCV infection. In its CF program, the Company is investigating the use of ivacaftor as a monotherapy in additional populations of patients with CF and combinations of ivacaftor and other CF drug candidates. As the Company markets and sells its approved products and advances its drug candidates through clinical development toward commercialization, it continues to build and maintain its supply chain and quality assurance resources. The Company currently relies on an international network of third parties to manufacture and distribute its drug candidates for clinical trials. The Company faces competition based on the safety and efficacy of its products, the timing and scope of regulatory approvals, the availability and cost of supply, marketing and sales capabilities, reimbursement coverage, price, patent protection and other factors. The Company’s competitors are Abbott Laboratories, Achillion Pharmaceuticals, Inc., Boehringer Ingelheim, Bristol-Myers Squibb Company, Gilead Sciences, Inc., Hoffman-La Roche, Idenix Pharmaceuticals, Inc. and Jansse. The research, development, testing, manufacture, quality control, approval, labeling, packaging, storage, record keeping, promotion, advertising, distribution and marketing of its products and drug candidates are subject to extensive regulation by United States and foreign governmental authorities.|
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