Vertex Nears Hit or Miss

Vertex Pharmaceuticals (VRTX Quote) is pushing ahead with an aggressive drug development plan that, if successful, will drastically improve how hepatitis C is treated across the world -- and make boatloads of money for the company and investors in the process.

If Vertex stumbles, however, the blowup will be spectacular, even by biotech standards.

The drug in question is called telaprevir. Vertex is in the midst of an ambitious phase II clnical study program that will yield crucial data over the next 10 to 12 months. ...