UPDATE 1-Vertex sees 2009 net loss of $475 mln-$510 mln

(Updates with details)

BOSTON, Jan 12 (Reuters) - Biotechnology company Vertex Pharmaceuticals Inc (VRTX.O) said on Monday it expects to report a net loss of between $475 million and $510 million in 2009, and a net loss of about $460 million in 2008.

Analysts expect a net loss in 2009 of $522.4 million according to Reuters Estimates, and a net loss in 2008 of $450.8 million.

Vertex, whose leading product is an experimental treatment for hepatitis C, said it expects a 2009 loss, excluding restructuring charges and stock-based compensation, of $400 million to $435 million. Analysts expect a net loss excluding items of $520.2 million.

Vertex said it expects a 2008 loss excluding items of about $400 million. Analysts expect a loss of $451.3 million.

"We believe Vertex is prepared to advance its business in 2009," Ian Smith, the company's chief financial officer, said in a statement to coincide with a presentation at the JP Morgan Healthcare conference in San Francisco.

"However, we realize that a challenging year lies ahead for our industry and for the global financial markets."

Vertex said it expects revenue from business development activities, including licensing out certain early-stage assets, to provide alternative, nondilutive forms of capital to help fund research and development and add balance sheet strength in 2009.

The company said that as of Dec. 31, 2008, it had about $830 million in cash, cash equivalents and marketable securities.

The company will report its 2008 earnings and full financial guidance for 2009 on Feb. 11. (Reporting by Toni Clarke, editing by Maureen Bavdek)