Vertex Pharmaceuticals announces exchange agreement with holders of its 4.75% Convertible Senior Subordinated Notes

Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) announced today that holders of its 4.75% Convertible Senior Subordinated Notes due 2013 have agreed to exchange approximately $109.0 million in aggregate principal amount of those notes and accrued interest for approximately 4.8 million shares of the Company’s common stock, which is approximately 140,000 shares more than the number of shares into which the notes were convertible under their original terms.

The Company anticipates that the exchanges will be completed by the close of business on November 13, 2009. Upon completion of the exchanges, the aggregate principal amount of the Company’s 4.75% Convertible Senior Subordinated Notes due 2013 will be reduced to approximately $35.0 million. Upon issuance of the common stock in exchange for the notes, Vertex will have approximately 186 million shares of common stock outstanding.

This announcement is neither an offer to exchange nor a solicitation of an offer to exchange any of these securities. The exchanges are exempt from registration under Section 3(a)(9) of the Securities Act of 1933.