Vertex lowers 2002 guidance

VRTX revised its 2002 net loss guidance to $100-$110 million from $80-$90 million, reflecting lowered collaborative revenues and sales. The company now expects 2002 collaborative revenue and royalties to be $80-$90 million, down from $100-$110 million, and product sales and service revenues to be $72-$77 million, down from its previous guidance of $80-$85 million. VRTX said the lowered guidance is due to a "challenging market environment in 2002." ...