Vertex deal

Vertex sold rights to future milestone payments associated with telaprevir in Europe to four undisclosed buyers for $155 million in cash. The milestones, to be paid by the Janssen Pharmaceutica N.V. subsidiary of Johnson & Johnson (NYSE:JNJ, New Brunswick, N.J.), could total $250 million: $100 million related to submission and approval of an MAA and $150 million related to launch in Europe. Vertex said it expects the milestones to be earned prior to April 2012. ...