Vertex exec says CF sales weaker than expected

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) slipped $5.15 to $90.12 on Wednesday after CFO Ian Smith said the biotech's uptake in Germany of cystic fibrosis drug Orkambi ivacaftor/lumacaftor is weaker than expected and that refills of the drug in the U.S. slowed unexpectedly in July and August.

Smith's comments came Wednesday at the Morgan Stanley Global Health Care Conference in New York. In response to a question, he said it was too soon to know how the slow sales might affect the biotech's 2016 revenue expectations. ...