VERTEX TO CURTAIL FUNDING OF TWO DRUGS

Biotech firm Vertex Pharmaceuticals Inc. said Tuesday that it plans to sharply reduce its investment in two clinical-stage treatments -- one aimed at improving hepatitis C therapies and another at psoriasis -- to marshall its funds for more commercially promising drugs. Vertex said it will instead concentrate its resources in 2006 on mid-stage trials of its direct hepatitis C drug and its rheumatoid arthritis therapy. In addition, the company plans to start clinical studies for a drug to treat cystic fibrosis.

Forbes (http://www.forbes.com/technology/feeds/ap/2005/10/04/ap2260288.html)