by Barry Werth
CHAPTER 14: November 2, 2011
(pp. 343–46) Interviews with Adam Koppel, Michael Partridge, Geoff Porges, Ian Smith, and Bob Beall. Adam Feuerstein, “11 Biotech Stocks Hedge Funds Love and Hate,” TheStreet, August 17, 2011; Marshall Hargrave, “Bain Capital’s Bet Against Romney,” insidermonkey.com, October 5, 2012.
(pp. 346–49) Interviews with Karolyn Cheng and Bo Cumbo. Liz Highleyman, “AASLD: PSI-7977 Plus Ribavirin Can Cure Hepatitis C in 12 Weeks Without Interferon,” www.hivandhepatitis.com, November 8, 2011.
(pp. 349–51) Interviews with Ian Smith, Michael Partridge, Nancy Wysenski, Amit Sachdev, and Bob Kauffman. Adam Feuerstein, “Pharmasset Takes Lead in Race to Develop Hep C Therapy by Pill,” TheStreet, November 1, 2011; Luke Timmerman, “Vertex Stock Drops 17 Percent over Two Days, as Potent Hep C Rivals Emerge,” Xconomy, November 8, 2011; Brett Chase, “Pharmasset Winning Hepatitis C Drug Race,” Minyanville, November 7, 2011; Marley Seaman, “Vertex Continues to Slump on Threats to Incivek,” BloombergBusinessweek, November 8, 2011.
(pp. 351–56) Interviews with Adam Koppel, Geoff Porges, and Matt Emmens.
(pp. 356–59) Interviews with Michael Partridge, Bo Cumbo, Ann Kwong, Nancy Wysenski, Ian Smith, Matt Emmens, Josh Boger, and Peter Mueller. Andrew Pollack, “Gilead to Buy Pharmasset for $11 Billion,” New York Times, November 21, 2011; Kimberly Ha, Claudia Montato, Yana Morris, and Ashley Armstrong, “Gilead’s ‘Big Bet’ on Pharmasset Hinges on Future Results,” Financial Times, November 22, 2011; Bill Berkrot, “Gilead Could Have Had Pharmasset Cheap: Founder,” Reuters, November 22, 2011; Bert Wilkison, “Vertex Trading Near 52-Week Lows After Gilead Acquired Pharmasset,” Seeking Alpha, November 22, 2011; Todd Campbell, “Gilead’s Pharmasset Acquisition Makes Vertex Look Cheap,” Seeking Alpha, November 22, 2011; Luke Timmerman, “The Hepatitis C Market: Biotech’s Version of the Daytona 500,” Xconomy, December 12, 2011; Robert Weisman, “Jeffrey Leiden Will Head Vertex, Which Gets Priority Review for Cystic Fibrosis Drug Candidate,” Boston Globe, December 15, 2011; Ryan McBride, “Interview: Vertex CEO Concerned About Investors’ ‘Hyper-Focus’ on Hep C,” FierceBiotech, December 21, 2011; Adam Feuerstein, “The Best Biotech CEO of 2011 Is . . . ,” TheStreet, December 14, 2011.
CHAPTER 15: January 10, 2012
(pp. 360–63) Interviews with Michael Partridge and Eric Olson. Robert Weisman, “In Hepatitis C Market, Vertex Gets a Big New Rival,” Boston Globe, January 10, 2012; Luke Timmerman, “Vertex Vows to Fight On with Alios Drugs in High-Stakes Hepatitis C Race,” Xconomy, January 24, 2012; Drew Armstrong, “Vertex Falls as Analyst Cuts Sales Estimates on Hepatitis C Pill,” Bloomberg, January 30, 2012; Adam Feuerstein, “Vertex Hep C Sales Growth Nears End,” TheStreet, January 31, 2012; Anna Yukhananov and Bill Berkrot, “FDA Approves Vertex Cystic Fibrosis Drug,” Reuters, January 31, 2012; Robert Weisman, “Vertex Gets Early OK for New Drug,” Boston Globe, February 1, 2012; Andrew Pollack, “FDA Approves New Cystic Fibrosis Drug,” New York Times, February 1, 2012; Tracy Staton, “Vertex Backs Up Pricey New CF Drug with Co-Pay Help,” FiercePharma, February 1, 2012; Tracy Staton, “How Do the 12 Priciest Drugs in the US Stack Up,” FiercePharma, February 7, 2012; Luke Timmerman, “Vertex’s Big Day Felt Like Moon Landing, Seattle Researcher Says,” Xconomy, February 1, 2012; “In Trial, Hep C Patients Saw Viral Relapse: Gilead,” Reuters, February 17, 2012; Luke Timmerman, “Vertex Stays in HepC Game, as All-Oral Combo Passes Small Study,” Xconomy, February 23, 2012.
(pp. 363–64) Interview with Keith Johnson.
(pp. 364–65) Interview with Michael Partridge. “A Cystic Fibrosis Treatment Is Called ‘Game-Changing,’ ” Reuters, May 7, 2012; Robert Weisman, “New Data on Cystic Fibrosis Drug Lifts Vertex Stock,” Boston Globe, May 8, 2012; Matthew Herper, “A One-Two Punch Against Cystic Fibrosis, and Maybe Someday Other Diseases Too,” Forbes, May 7, 2012; “Vertex Pharma Continues to Rise on Upgrade,” Associated Press, May 14, 2012.
(pp. 365–67) Interviews and correspondence with Josh Boger. Steven Syre, “Tiny Start-Up Lands a Former Vertex CEO,” Boston Globe, May 23, 2012.
(pp. 367–71) Interview with Michael Partridge. Meg Tirrell, “Vertex Revises CF Combo Data Showing Less Benefit,” Bloomberg, May 29, 2012; Val Brickates Kennedy, “Analysts Still Upbeat on Vertex,” Marketwatch.com, May 29, 2012; Teresa Rivas, “What Next for Vertex?” Barrons, May 29, 2012; Robert Weisman, “FDA Says Vertex Promotional Material Overstates Benefits of Hepatitis C Drug,” Boston Globe, May 31, 2012; Matthew Herper, “Clearing Up Vertex’s Data Bungle,” Forbes, June 1, 2012; Beth Healey, “Two Vertex Executives Are Stepping Down,” Boston Globe, June 8, 2012; Ed Silverman, “ The Curious Timing of Those Vertex Stock Sales,” Forbes, June 11, 2012; Casey Ross, “Vertex to Fund Partnership with Boston Schools,” Boston Globe, June 18, 2012; Luke Timmerman, “After Big Oops, Vertex Plows Ahead with Cystic Fibrosis Drug Combo,” Xconomy, June 28, 2012.
(pp. 371–72) Interview with Keith Johnson. Katie Thomas, and Michael S. Schmidt, “Glaxo Agrees to Pay $3 Billion in Fraud Settlement,” New York Times, July 2, 2012.
(pp. 372–76) Interviews with Josh Boger and Bo Cumbo. John Carroll, “Vertex Surges as Rival Hep C Contender Plays Catch-Up in Clinic,” FierceBiotech, July 31, 2012; Adam Feuerstein, “Bristol’s Hep C Drug Blow Up May Benefit Gilead, Idenix, Vertex Pharma,” TheStreet, August 2, 2012; “Idenix Shares Plunge on Hepatitis C Treatment Fears,” Bloomberg, August 16, 2012; “CDC Recommends One-Time Test for Hepatitis C for All Baby Boomers to Check for Infection,” Associated Press, August 16, 2012; Robert Weisman, “Hepatitis C Testing May Lift Vertex’s Market,” Boston Globe, August 18, 2012; Adam Feuerstein, “Vertex Advances One of Two Hep C Drugs,” TheStreet, September 25, 2012; Meg Tirrell, “Vertex Joins Glaxo, J&J in Testing Hepatitis C Combos,” BloombergBusinessweek, November 1, 2012; Ryan McBride, “Hep C Pill Race Report 2012,” FierceBiotech, November 14, 2012.
(pp. 376–79) Interview with Bo Cumbo. Susan Fernando, “Vertex’ Kalydeco Faces UK Price Pushback Though Solid Cystic Fibrosis Data Warrants Funding Settlement,” Financial Times, November 29, 2012; Martin Barrow, “Cystic Fibrosis Drug Kalydeco Gets NHS Funding Go-Ahead,” London Times, December 20, 2012; Ben Hirschler, “Analysis: Entering the Age of the $1 Million Medicine,” Chicago Tribune, January 3, 3013; Matthew Herper, “Inside the Pricing of a $300,000-a-Year Drug,” Forbes, January 3, 2013; Ben Hirschler, “Cashing in on Rare Diseases,” Times Colonist, January 6, 2012.
(pp. 379–81) Interviews with Bo Cumbo, Mark Murcko, and Peter Kolchinsky. Robert Weisman, “Surge in Federal Approvals Buoys Drug Makers,” Boston Globe, January 8, 2012; Meg Tirrell, “Vertex Refocuses Drug Development to Specialty Diseases,” Bloomberg, January 9, 2013; Julie M. Donnelly, “Vertex Hepatitis C Drug Revenues Plummet,” Boston Business Journal, January 29, 2012; Luke Timmerman, “If You’ve Got a Real Breakthrough, the FDA Wants to Talk,” Xconomy, January 14, 2012.
(pp. 381–83) Interview with Keith Johnson. John Carroll, “Vertex Plots a Race Through Phase III for ‘Breakthrough’ Combo CF Therapy,” FierceBiotech, February 26, 2013.
AFTERWORD
(pp. 385–89) Interviews with Josh Boger, Ken Boger, and Bink Garrison. Boger’s 2039 Annual Report, courtesy of the author.
INDEX
Abbott Laboratories, 317, 372
HCV and, 333, 373, 375, 377
HIV and, 19, 24, 36, 356–57
acquired immunodeficiency syndrome (AIDS), 7, 13, 31, 268, 279
Berlin conference on, 19–20, 30, 36, 76
deaths due to, 20, 36, 49, 242
Vancouver conference on, 36, 230
Washington retroviral conference and, 25–26
see also human immunodeficiency virus
acute coronary syndrome, 93, 99
Adderall XR, 184
advertising, 36, 46, 49, 195, 208, 279
advisory committees (AdComms), 361
Incivek and, 226–27, 230–31, 238, 240, 243–44, 255–58, 264–65, 268–76, 292, 344
&nbs
p; Merck and, 226, 230, 238, 244, 264–68, 272–73, 275
mock, 227, 240, 243–44, 255–58, 265, 267
Victrelis and, 264–68, 273, 275–76, 299
African-Americans, 49, 245
HCV and, 203, 223, 266, 348
Agenerase (amprenavir, VX-478):
Boger and, 30–32, 35, 51
dimming hopes for, 46–47
HIV and, 25–26, 28–32, 35–36, 46–47, 50–51, 56, 65, 77, 85, 92, 97–98, 102, 147, 186, 225
launch and approval of, 50–51, 56
Murcko and, 28–29
patenting of, 30–32, 35–36
Agouron Pharmaceuticals:
HCV and, 34, 37
HIV and, 19, 46, 63, 82
Alam, John, 70–72, 91, 106, 175, 287
Boger’s relationship with, 71, 163, 183
HCV and, 83, 108, 121, 128–32, 137–40, 149, 170–72, 223, 232, 275
portfolio process and, 99–101
VX-745 and, 71–72, 75
alanine transaminase (ALT), 318
Albrecht, Janice, 265–66
Aldrich, Richard, 14, 17, 56, 144, 149, 172
Boger’s relationship with, 60, 69
CF and, 69, 111
comparisons between Smith and, 86
HCV and, 42–44, 83
HIV and, 26, 35–36, 50
ICE and, 51–52
slogan competition and, 160
Vertex-Kissei partnership and, 12–13
Vertex-Novartis partnership and, 57, 59
Vertex’s reorganization and, 59–60
Vertex-Wellcome partnership and, 26–27
Alios Biopharma Inc., 299–300, 314, 347, 358, 362, 372, 375, 378
ALS 2200, 372, 375
Alvarez, Alex, 230
American Association for the Study of Liver Diseases (AASLD), 82, 121, 124, 151, 209, 376
American Civil Liberties Union (ACLU), 365–66
Amgen, 6, 192, 208, 354
amino acids, 16, 33–34, 126
amprenavir, see Agenerase
anemia, 24, 172, 200, 208, 221, 267, 269–70, 283, 347
antibiotics, 3, 31–32, 80, 125, 152, 230, 316, 326
CF and, 252, 255, 305, 381
and Vertex’s presence in China, 170, 173
antidepressants, 266, 316, 372
anti-infectives, 62, 80, 82, 88, 106, 109, 316
anti-inflammatories, 92, 216, 314
ICE and, 47, 77, 99
VX-745 and, 71–72
antivirals, 24, 32, 84, 171, 182, 224, 226, 276, 365
HCV and, 39, 44, 61–62, 82, 128, 130–31, 149, 151, 193, 208, 220–21, 228, 238, 348–49, 357, 374–75
HIV and, 13, 36, 63
see also proteases, protease inhibitors
Apple, 44–45, 136, 313, 375
Arrowsmith (Lewis), 265
asthma, 4, 57, 139, 245
Astra Merck, 210
atazanavir, 272
Atripla, 147–48
Aurora Biosciences Corporation, 66–70, 113, 117–18, 144
analysts’ tour of, 343–44
CF and, 67–70, 79–81, 118, 127, 180, 182, 335, 343–44
Olson’s interviews with, 80–81
pain program and, 126–27
screening technology of, 66–68, 78–81
Vertex’s acquisition of, 66–69, 73, 75, 78–81, 84–86, 127, 385
aurora kinases, 107
Aventis, 65, 68, 77–78, 85, 99, 215
Avonex, 71, 91
azidothymidine (AZT), 20, 24, 26, 31–32, 49, 148
bacteria, 17, 34, 48
CF and, 80, 119, 125–26, 249
Bactrim, 32
bailouts, 187, 195
Bank of America, Bank of America–Merrill Lynch (BOA-ML), 186, 329, 332, 340, 344
Barber, Zach, 370
Barrons.com, 368–69
Beall, Robert, 67–69, 79–80, 111, 125, 141–42, 181–82, 297, 345, 361
Bear Stearns, 178–79, 186
Belgium, 113–14, 130, 136, 208, 223
Berdella, Maria, 303
Berlin:
AIDS conference in, 19–20, 30, 36, 76
EASL meeting in, 258, 262
Sanford C. Bernstein & Co., 96–97, 101, 194, 250, 298, 315, 368
Beth Israel Medical Center, 253, 303, 305, 307
“Big and Dangerous Day for Personalized Medicine, A” (Herper), 251
Big Hairy Audacious Goal (BHAG), 116, 158–60, 162
Big Pharma, 20, 40, 46, 63, 65, 77, 80, 86, 108, 123, 216, 244, 331, 380, 385
bilirubin, 270–73
Billion-Dollar Molecule, The (Werth), 2, 142, 386
Bill of Rights, 365–66
BILN-2061, 82, 105–6, 129–31
Biogen, 41, 71
biologics, 12, 39, 71, 78, 91, 177, 193, 195, 202–3, 217, 250
biotechnology, biotechnology companies, 2, 12, 27, 51–52, 86, 96, 110–11, 140, 144, 179, 189, 208, 261, 287, 311, 342
bubble of, 65, 77, 87, 145–46, 192
China and, 174
finances of, 43, 59, 101–2, 177–78, 192
German academic model, 108
hedge funds and, 199
mergers and acquisitions in, 84, 331
Morgan conference and, 76, 192–93, 216
profitability of, 4–5
stock market declines and, 313
turnover of employees in, 184
Biotechnology Industry Organization (BIO), 153, 163, 217
Boger’s chairmanship of, 156–57, 192–93
Boger’s speech for, 202–3
Birnkrant, Debra, 276
black box warnings, 208, 378
blood, bloodstream, 24
disorders of, 56, 75
EPO and, 192, 208
HCV and, 21, 42, 47, 62–63, 94–95, 112–14, 148, 165, 203, 213, 221–22, 273
HIV and, 25, 32
blood-brain barrier:
epilepsy and, 215–16
p38 and, 71–73, 93
blood thinners, 245
Bloomberg, Michael, 328
Bloomberg News, 380
boceprevir, see Victrelis
Boehner, John, 220
Boehringer Ingelheim, 82–83, 91, 93–95, 101, 105, 129, 131, 150–51, 172
Boger, Amy, 153, 322, 365
Boger, Jack, 279
Boger, Joshua, 1–7, 11–16, 106–11, 114, 177, 182–86, 222, 225–26, 230, 264, 287, 314, 343, 365–67, 370, 376
Alam’s relationship with, 71, 163, 183
Aldrich’s relationship with, 60, 69
ambitions of, 50, 73, 97, 110, 132, 152–53, 242, 278–79, 293, 316
background of, 3–5, 7, 12, 15, 91, 94, 132, 134, 152, 184, 366, 381
BIO chairmanship of, 156–57, 192–93
blogging of, 153–56, 174
CF and, 69–70, 80, 127, 143, 365
charisma of, 12, 45, 189, 294
China and, 172–74
comparisons between Emmens and, 214, 216–17, 237, 288, 318
comparisons between Murcko and, 28–29
earnings calls and, 175, 178
Emmens on, 184–85, 189, 259, 293, 316, 321
expansion strategy of, 84–87
externalities of, 153–57
FDA funding and, 202
on future, 387–89
Garrison hired by, 117, 122, 135, 204
genomics and, 43, 55–57, 59, 65, 85
goals and, 2–3, 7, 43, 45, 56, 65, 85–86, 92, 172, 178
Hartmann hired by, 123–24
HCV and, 32, 34, 37–38, 48, 61–62, 64, 75–77, 83, 93–95, 100, 108–11, 129, 132, 136–40, 147, 149, 153, 161, 163, 165–67, 173–74, 182–83, 193–94, 373–75
HIV and, 5, 18–20, 24–27, 30–32, 35–36, 46, 49–51, 64, 85, 91, 163–64, 193
Huckman’s interview with, 193–94, 216
ICE and, 49, 85
Incivek and, 76, 109–11, 131, 136, 165, 178, 185, 189, 194, 200, 232, 239, 242, 244, 293–94, 316, 375
on in
novation-exclusivity balance, 202–3
kinases and, 55–57, 72–75, 375
launching Vertex and, 1, 5, 7
lawsuit against, 75–76, 128
management style and skills of, 2, 18, 27–28, 34, 41, 44–45, 47, 65, 144, 161–63, 184–85, 198, 206
Milestone Day and, 322–23
Morgan conference and, 76–77, 87, 136, 192–93
Murcko’s relationship with, 28, 145
philanthropy of, 365
physical appearance of, 12, 28, 73–74, 322–23
portfolio process and, 90–95, 97–101
Red Sox and, 69, 96
relations between board and, 115–16, 123–24, 137–38, 143, 162–64, 188–90, 193, 197, 259, 358
retirement of, 191, 195–98, 200, 203–6, 211, 259, 293, 321
Sachdev’s hiring and, 163–64
Smith’s relationship with, 86–87, 163, 280–81, 325
social experiment of, 27–28, 41, 65, 90, 135, 150, 205
speeches of, 11–13, 75–77, 85, 136, 173, 193, 202–4, 293–94, 322–23, 366
succession and, 122–23, 143–44, 146, 164, 188–90, 196, 198, 358, 361
values and, 45, 124, 133–34, 153, 202–5, 226, 325, 358, 387–88
Vertex-Kissei partnership and, 12–13
Vertex-Novartis partnership and, 56–59, 72, 107
and Vertex’s acquisition of Aurora, 66–69, 84–85
Vertex’s compensation system and, 158
Vertex’s creativity and, 57, 70, 161–62, 387
Vertex’s financial problems and, 87, 98, 186
Vertex’s investor day and, 101–2
and Vertex’s public image and relations, 49, 243
Vertex’s reorganization and, 59–60, 64–65
Vertex Vision Process and, 117, 133–34, 158, 387
Vertex-Wellcome partnership and, 25–27
VIP teams and, 133, 157, 159
vision of, 2, 6–7, 60, 100, 123, 153, 201, 237, 247, 259, 291, 316, 325, 335, 374–75, 386–87
