In addition, Vertex expects that it will be approved by FDA before the end of May 2011. Vertex management also confirmed that it is now fully ready for a roll-out, and that a significant number of patients have delayed starting any therapy -- until Incivek is available per the AP:
". . . .Our progress in recent months with both INCIVEK for people with hepatitis C and VX-770 for people with cystic fibrosis marks a significant step toward Vertex becoming a company capable of discovering, developing and launching innovative new medicines for serious diseases," said Matthew Emmens, Chairman, President and Chief Executive Officer of Vertex.
Gross margins grew 11.4 percentage points to 96.4%. The growth seemed to be driven by increased revenue, as the figure rose more than threefold from the year earlier quarter while costs fell 20.8%.
Over the last five quarters, revenue has increased 75.3% on average year over year. The biggest increase came in the most recent quarter, when revenue rose more than threefold from the year earlier quarter. . . .
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