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Shareholder Class Action Filed Against Vertex Pharmaceuticals Incorporated by the Law Firm of Schiffrin Barroway Topaz & Kessler, LLP
Date:4/18/2008

investors when it disclosed less than stellar results from a phase of testing (PROVE 2) on telaprevir. The results came as a surprise to investors, since the Company failed to indicate the findings of PROVE 2 during the Class Period, when the results became known. The Company had touted the results of telaprevir in PROVE 1, which showed patient improvement at 16% as compared to the control group. However, patients in PROVE 2 displayed results that were only 6% more favorable than those of the control group, which cast serious doubt on the utility of the drug.

Upon the release of this news, the Company's shares immediately declined $2.74 per share, or 8.66 percent, to close on November 2, 2007 at $28.90 per share, on unusually heavy trading volume. As the news spread over the weekend, the stock declined even further, falling $4.82, or 16.68 percent, to close on November 5, 2007 at $24.08.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin Barroway Topaz & Kessler which prosecutes class actions in both state and federal courts throughout the country. Schiffrin Barroway Topaz & Kessler is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.

For more information about Schiffrin Barroway Topaz & Kessler or to sign up to participate in this action online, please visit http://www.sbtklaw.com

If you are a member of the class described above, you may, not later than May 12, 2008, move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members,
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SOURCE Schiffrin Barroway Topaz & Kessler, LLP
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