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Vertex Pharmaceuticals Incorporated Message Board

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  • swhitemd50 swhitemd50 Dec 1, 2011 5:01 PM Flag

    VRUS shares going lower

    I read somewhere that there is a 3 percent fee if GILD backs out of the deal. So I guess it might cost GILD about 330 million. Of course, not backing out could cost them several billion if PSI-7977 does not live up to the hype.

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    • The November 21 Reuters article (see Vertex news headlines on Yahoo Finance on 11/21/11) states that a source said there is a "standard break-up fee" of about 3 percent of the total deal value. I agree that is highly unusual to see such a discrepancy between the acquisition price and the current price of VRUS. Maybe GILD is having second thoughts. Maybe they are wondering about why the genotype 1 Hep C patients need to be "interferon intolerant" to benefit from the PSI-7977 miracle drug.

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