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Vertex prices public offer at $32

Vertex Pharmaceuticals, a biotechnology company, has entered into an agreement to sell 10 million shares of its common stock in an underwritten offering at a price to the public of $32 per share.

The company expects to raise $320 million in aggregate gross proceeds from the common stock offering.

Merrill Lynch & Company is acting as the sole book-runner, with Cowen and Company acting as co-manager, for the offering.