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Biotech Firm Vertex To Cut 175 Jobs In Mass.

This article is more than 8 years old.

Vertex Pharmaceuticals says it plans to eliminate about 15 percent of its worldwide workforce, including about 175 positions in Massachusetts.

The Cambridge-based biotechnology firm made the announcement on Tuesday, saying that sales of Incivek, a drug to treat Hepatitis C, were expected to continue to decline as other treatments become available.

An advisory committee to the U.S. Food and Drug Administration recently recommended approval of a competing hepatitis C drug from Gilead Sciences.

Vertex said it planned to focus future investment on cystic fibrosis and other "high-potential research and development programs."

The company will shed a total of about 370 jobs, leaving about 1,800 employees worldwide and 1,300 in Massachusetts.

This program aired on October 30, 2013. The audio for this program is not available.

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