Vertex Pharmaceuticals (MA) CFO Rings Register on $35 Million Insider Sale

Published: Apr 25, 2013

Staying up-to-date has never been simpler. Sign up for the free GenePool newsletter today!

Vertex Pharmaceuticals' (VRTX) Chief Financial Officer Ian Smith sold options and stock last week netting him more than $35 million. Smith rang the cash register on his Vertex holdings April 19 -- less than 24 hours after Vertex shares soared on positive data for its cystic fibrosis drug VX-661. The Form 4 detailing Smith's insider sales was filed with the SEC yesterday. Vertex shares hit an intraday high of $85.90 on April 19 and closed at $85.60 -- a 62% one-day jump fueled by investors rushing into the stock on the positive cystic fibrosis drug announcement. But as outside investors were buying, Smith, Vertex's CFO since 2001, was selling a massive stake in the company -- 745,685 shares -- with the largest chunk sold at $81.50 per share.

Help employers find you! Check out all the jobs and post your resume.

Back to news