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4-Traders Homepage  >  Equities  >  Nasdaq  >  Vertex Pharmaceuticals Incorporated    VRTX

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VERTEX PHARMACEUTICALS INCORPORATED (NASDAQ:VRTX) Files An 8-K Other Events

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05/22/2017 | 03:20pm CEST

VERTEX PHARMACEUTICALS INCORPORATED (NASDAQ:VRTX) Files An 8-K Other EventsItem 8.01. Other Events.

On May 19, 2017, the United States Federal Trade Commission issued a request for additional information in connection with our pending acquisition of CTP-656 and other assets related to the treatment of cystic fibrosis from Concert Pharmaceuticals, Inc. The second request was issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. We intend to work cooperatively with the FTC as it reviews the transaction.
Additional Information about the Transaction and Where to Find It
This disclosure is being made in respect of the proposed asset purchase with Concert. The proposed asset purchase and the asset purchase agreement will be submitted to Concert’s shareholders for their consideration and approval. In connection with the proposed asset purchase, Concert has filed a proxy statement with the SEC. This disclosure does not constitute a solicitation of any vote or proxy from any shareholder of Concert. Investors are urged to read the proxy statement carefully and in its entirety and any other relevant documents or materials filed or to be filed with the SEC or incorporated by reference in the proxy statement, because they contain important information about the proposed asset sale. The definitive proxy statement has been mailed to Concert’s shareholders. In addition, the proxy statement and other documents are available free of charge at the SEC’s internet website, www.sec.gov. The proxy statement and other pertinent documents may also be obtained free of charge at the Investors section of Concert’s website, www.concertpharma.com, or by directing a written request to Concert Pharmaceuticals, Inc., Attn: Investor Relations, in writing, at 99 Hayden Ave, #500, Lexington, MA 02421.
Certain Information Concerning Participants
Vertex and its directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed asset purchase. Information about Vertex’s directors and executive officers is included in Vertex’s Annual Report on Form 10-K for the year ended December 31, 2016 filed with the SEC on February 23, 2017.
Forward-looking Statements
This current report on Form 8-K contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding (i) our plans with respect to working with the FTC and (ii) the pending acquisition of CTP-656 and other assets related to the treatment of cystic fibrosis from Concert Pharmaceuticals, Inc. While we believe the forward-looking statements contained in this filing are accurate, these forward-looking statements represent our beliefs only as of the date of this report, and there are a number of factors that could cause actual events or results to differ materially from those indicated by such forward-looking statements. Those risks and uncertainties include, among other things, that we may not be able to obtain regulatory approval for our pending transaction with Concert and other risks listed under Risk Factors in our annual report and quarterly reports filed with the Securities and Exchange Commission and available through our website at www.vrtx.com. We disclaim any obligation to update the information contained in this report as new information becomes available.
About VERTEX PHARMACEUTICALS INCORPORATED (NASDAQ:VRTX)
Vertex Pharmaceuticals Incorporated is engaged in the business of discovering, developing, manufacturing and commercializing medicines for serious diseases. The Company operates in pharmaceuticals segment. Its business is focused on developing and commercializing therapies for the treatment of cystic fibrosis (CF) and advancing its research and development programs in other indications. Its marketed medicines are ORKAMBI and KALYDECO, which are approved to treat patients with CF having specific mutations in their CF transmembrane conductance regulator (CFTR) gene. It has multiple development programs in the field of CF, including VX-661, VX-371, and VX-152 and VX-440. It is engaged in various other research and mid- and early-stage development programs, such as programs in the areas of oncology, pain and neurology. Its oncology drug candidates include VX-970, VX-803 and VX-984; pain drug candidates include VX-150 and VX-241, and acute spinal cord injury drug candidate include VX-210. VERTEX PHARMACEUTICALS INCORPORATED (NASDAQ:VRTX) Recent Trading Information
VERTEX PHARMACEUTICALS INCORPORATED (NASDAQ:VRTX) closed its last trading session 00.00 at 118.02 with 1,564,730 shares trading hands.

The post VERTEX PHARMACEUTICALS INCORPORATED (NASDAQ:VRTX) Files An 8-K Other Events appeared first on Market Exclusive.

© Market Exclusive 2017, source Market Exclusive

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Financials ($)
Sales 2017 2 222 M
EBIT 2017 476 M
Net income 2017 309 M
Finance 2017 890 M
Yield 2017 -
P/E ratio 2017 91,99
P/E ratio 2018 55,67
EV / Sales 2017 12,9x
EV / Sales 2018 10,8x
Capitalization 29 624 M
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 125 $
Spread / Average Target 4,7%
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Managers
NameTitle
Jeffrey M. Leiden Chairman, President & Chief Executive Officer
Ian F. Smith EVP, Chief Operating & Financial Officer
Jeffrey A. Chodakewitz Chief Medical Officer & Executive Vice President
David Matthew Altshuler Chief Scientific Officer & EVP-Global Research
Joshua S. Boger Director
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