Vertex To Use Goldman, Sachs To Raise At Least An Additional $390 Million Of Equity In Secondary Offering

As explanation that many denizens of Wall Street are firm believers in a bright prospects for a next-generation Hep C drug candidate, telaprevir, securing FDA approval, Vertex has left to a equity well twice in as many years. This time a indicated lift is in between you estimate $390 as well as $450 million, depending upon either Goldman exercises a supposed Green Shoe option-in-full, as well as presumption that Vertex common holds a current level, during around $39 per share -- tonight's NYSE closing price.

Here's a bit of a AP report:
. . . .Vertex Pharmaceuticals Inc. said Wednesday it plans to sell 10 million shares of batch to a open to lift cash.

The underwriters will have an choice to buy another 1.5 million shares, Vertex said. Goldman Sachs will be a book-running manager for a offering. . . .
Of course, Merck has inherited a Schering-Plough "me too" boceprevir drug candidate, in this space -- a development of that Leerink Swann analysts predicted earlier today might be scaled back, by Merck, in 2010 as well as over -- presumably based upon a increasingly large lead telaprevir is sporting, here. As ever, you shall see.