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Vertex Vexed by FDA Deal

Stock quotes in this article: VRTX , JNJ , SGP , ITMN  

Vertex Pharmaceuticals(VRTX Quote) said Wednesday that it received the OK from regulators to start phase III studies of its hepatitis C drug telaprevir.

The positive development couldn't stop the stock from falling, however, as many institutional investors now see a paucity of news flow from the telaprevir program for the next two years.

Vertex has also said that it plans to raise money, in part, to pay for the new clinical trials. ...

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