During weekend, Vertex Pharmaceuticals reported that it has successfully completed the experimental stage of the much-awaited hepatitis C drug called telaprevir.
The drug has been used to treat African Americans, a group that has conventionally not responded to other treatment therapy. The drug has also been used for patients above 60 years of age and patients suffering from liver psoriasis.
The Company is hopeful that this product will help in generating billions of dollars in annual earnings.
The Company has strong challenge from another drug manufacturing firm called Merck & Co. for the same market.
Dr. Robert S. Kauffman, Chief Medical Officer at Vertex has increased its workforce by 300 to 1,625 in the current year in the wake of this drug.
He is expecting that the new treatment option will give a new lease of life to many patients, who are left with no other medication option.
Dr. Camilla S. Graham, Senior Director of Medical Affairs, said, "Vertex has been building up its commercial sales and field medical teams at its Cambridge headquarters and across the county".
Phil Nadeau, Managing Director at the Cowen & Co. investment bank, indicated that the popularity of the telaprevir drug is increasing because of its effectiveness, shorter treatment time, and is cost-effective for most of the patients.