Merrill rates Vertex at neutral

Vertex Pharmaceuticals Inc. was rated at neutral by Merrill Lynch analyst Hari Sambasivam after a conference call regarding timing of phase 2 studies of VX-950. A two-arm phase 2 study in therapy naïve patients is planned for the second quarter, with end of treatment data possibly available in late 2006 and a 12-week follow up in early 2007. Shares of the Cambridge, Mass., pharmaceutical company were down $2.68, or 7.15%, at $34.82 on volume of 4,025,070 shares versus the three-month running average of 1,754,170 shares. (Nasdaq: VRTX)

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