Vertex Pharmaceuticals Announces Exercise of Over-Allotment Options by Underwriters...

Vertex Pharmaceuticals Announces Exercise of Over-Allotment Options by Underwriters of its Concurrent Public Offerings of Common Stock and Convertible Senior Subordinated Notes

CAMBRIDGE, Mass.--(Business Wire)--
Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced
that the underwriters for its concurrent offerings of common stock and
convertible senior subordinated notes have exercised in full their
over-allotment option to purchase 900,000 shares of common stock at a
public offering price of $17.14 per share and their over-allotment
option to purchase an additional $37.5 million aggregate principal
amount of 4.75% convertible senior subordinated notes due 2013.

The exercise of the over-allotment options brings the total shares
of common stock sold by Vertex in the common stock offering to
6,900,000 shares and the total aggregate principal amount of notes
sold in the note offering to $287.5 million. Vertex expects to receive
gross proceeds from the common stock offering and the note offering,
before commissions and expenses, of $405.8 million.

The common stock offering and the note offering are being
conducted as separate public offerings, and the closing of each
offering is not contingent upon the other.

Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as the
sole book-runner, with Morgan Stanley & Co. Incorporated, Goldman
Sachs & Co. and J.P. Morgan Securities, Inc. acting as co-managers,
for the offerings.

This press release does not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. A copy of the prospectus
for each of the offerings can be obtained from Merrill Lynch's
prospectus department, at 4 World Financial Center, New York, NY
10080, 212-449-1000.

About Vertex

Vertex Pharmaceuticals Incorporated is a global biotechnology
company committed to the discovery and development of small molecule
drugs for serious diseases. The Company's strategy is to commercialize
its products both independently and in collaboration with major
pharmaceutical companies. Vertex's product pipeline is focused on
viral diseases, inflammation, autoimmune diseases, cancer, pain and
bacterial infection. Vertex co-discovered the HIV protease inhibitor,
Lexiva, with GlaxoSmithKline.

Lexiva is a registered trademark of the GlaxoSmithKline group of
companies.

Vertex's press releases are available at www.vrtx.com

Vertex Pharmaceuticals Incorporated
Michael Partridge, 617-444-6108
Senior Director, Strategic Communications
or
Lora Pike, 617-444-6755
Manager, Investor Relations

Copyright Business Wire 2008