Vertex's focus a positive for 2006, Merrill says

Vertex Pharmaceuticals Inc. announced Wednesday that it will present a more focused development effort for 2006, which Merrill Lynch analyst Hari Sambasivam said will impact favorably on the biotechnology firm. Merrill Lynch said the consolidated pipeline is viewed positively given Vertex's need to concentrate management and cash resources on the hepatitis-C drug VX-950 and VX-702 for rheumatoid arthritis. Historically, Vertex has had several programs going on simultaneously, which risks dilution of management focus and resources, Merrill Lynch said. The announcement, however, will have no impact in 2005, Merrill Lynch noted. Shares of the Cambridge, Mass.-based company were down $2.03, or 8.33%, at $22.35 on volume of 2,688,336 shares versus the three-month running average of 1,388,720 shares.

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