Vertex Pharmaceuticals in $400 Million Convertible Note Offering

September 28, 2010

Cleary Gottlieb represented BofA Merrill Lynch as sole underwriter in Vertex Pharmaceuticals Incorporated’s $400 million registered offering of convertible senior subordinated notes. The offering, including exercise in full of the related option to purchase additional notes, priced on September 22 and closed on September 28.

Vertex Pharmaceuticals is in the business of discovering, developing and commercializing small molecule drugs for the treatment of serious diseases. Its focus is on viral diseases, inflammation, autoimmune diseases, cancer, pain and cystic fibrosis. Vertex Pharmaceuticals’ lead drug candidate, telaprevir, is an oral hepatitis C protease inhibitor and one of the most advanced of a new class of antiviral treatments in clinical development that targets hepatitis C virus infection.