J&J pays $30M to grab rights to Vertex program

With all hands on deck at Vertex ($VRTX) focused on the development of a crucial combo drug for cystic fibrosis, the Boston-based biotech has outlicensed an influenza drug to J&J ($JNJ) in exchange for a $30 million upfront. Vertex said in a statement that it had completed a successful Phase IIa study of VX-787, which it had discovered in-house. Vertex also stands to gain some unspecified milestone payments in the deal. Release