Shares of Vertex Pharmaceuticals jumped today after the company reported a positive FDA review for its hepatitis C drug telaprevir. The FDA states that the protease inhibitor telaprevir is more effective in curing patients than current therapies.
The FDA preliminary review comes two days before an outside panel of expert advisers is set to meet to vote on the benefits of telaprevir.
VRTX shares hit a new 52 week high on the news with VRTX stock price printing a quote of $54.99 before closing at $52.92 a share. Vertex stock gained 10.16% on the day.
Vertex Pharmaceuticals
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