Important note: Information in this article was accurate in 1999. The state of the art may have changed since the publication date.
PRNewswire - December 16, 1999
"The clinical advancement of VX-175/GW433908 underscores both the productivity of our partnership with Glaxo Wellcome, and the power of Vertex's integrated research and development strategy," said Joshua Boger, Ph.D., Chairman, President, and CEO of Vertex. "Vertex's pipeline features seven product candidates in Phase II clinical development in four different therapeutic areas -- viral disease, cancer, autoimmune/inflammatory disease, and neurological disease -- that we have brought forward both independently and in collaboration with other companies."
Vertex Receives Milestone for VX-175/GW433908
Vertex will realize the milestone payment related to VX-175/GW433908 development as collaborative revenue in the fourth quarter of 1999. VX-175/GW433908 is the second product to be advanced through development as part of an ongoing collaboration between Vertex and Glaxo Wellcome. Vertex will receive additional milestone payments from Glaxo Wellcome as VX-175/GW433908 progresses through development towards commercialization.
VX-175/GW433908 was first synthesized at Vertex as part of a collaboration between Glaxo Wellcome and Vertex to research and develop HIV protease inhibitors for the treatment of HIV infection and AIDS. Glaxo Wellcome is developing VX-175/GW433908 in the United States, Europe, and other countries outside the Far East. Glaxo Wellcome will market VX-175/GW433908, and Vertex will have an option to co-promote VX-175/GW433908 in the United States and the European Union, and will receive royalties on sales of VX-175/GW433908.
HIV Program
Vertex also provided an update on ongoing development and commercial activities within Vertex and Glaxo Wellcome's HIV protease inhibitor program, including an update on the commercial and regulatory status of Agenerase(TM) (amprenavir). In the United States, more than 10,000 patients are currently taking Agenerase as part of combination therapy for the treatment of HIV infection. Agenerase has received approval in the United States, Brazil, Mexico, Uruguay, Argentina, Israel, and Switzerland. Agenerase has been submitted for approval in other markets worldwide, including the European Union (EU). In the EU, the application review process is ongoing, and approval of Agenerase is anticipated in mid- to late 2000. Agenerase was discovered at Vertex and licensed to partner Glaxo Wellcome for development. Vertex co-promotes Agenerase in the United States and plans to co-promote Agenerase in the EU.
Vertex also reported that partner Kissei Pharmaceutical Co., Ltd. has begun a Phase II/III clinical trial of amprenavir in Japan, which is required by the Ministry of Health and Welfare in Japan as part of that country's fast track approval process. Kissei received approval for amprenavir in Japan in September 1999 and has launched the drug under the trade name Prozei(TM).
Vertex Pharmaceuticals Incorporated discovers, develops and markets small molecule drugs that address major unmet medical needs. The Company has nine drug candidates in clinical development to treat viral diseases, inflammation, cancer, autoimmune diseases and neurological disorders. Vertex has created its pipeline using a proprietary approach, information-driven drug design, that integrates multiple technologies in biology, chemistry and biophysics aimed at increasing the speed and success rate of drug discovery. Vertex's first approved product is Agenerase(TM) (amprenavir), an HIV protease inhibitor, which Vertex co-promotes with Glaxo Wellcome.
There can be no assurance that clinical trials will continue, that initial clinical trial results will be predictive of any future results, that drugs under development by the Company or its partners will receive marketing approval from the U.S. Food and Drug Administration or other regulatory authorities, or that drugs, if any, which receive such approval will be marketed successfully. Investors are also directed to consider other risks and uncertainties discussed in Vertex documents filed with the Securities and Exchange Commission.
Vertex's press releases are also available by fax-on-demand at (800) 758-5804 - Code: 938395
SOURCE Vertex Pharmaceuticals Incorporated
CONTACT: Michael Partridge, Manager, Product Communications, 617-577-6108 or Michele Karpf, Manager, Product Communications, 617-577-6259 both of Vertex Pharmaceuticals/
Web Site: http://www.vpharm.com/
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