With losses rising, Vertex rolls out its telaprevir app

Faced with a rising tide of red ink, Vertex (NASDAQ: VRTX) says it has begun rolling out its NDA for the potential blockbuster telaprevir and expects to wrap the app later this year. Banking on a treasure trove of positive Phase III results already in hand, Vertex is clearly hopeful about its chances with the closely watched hepatitis C drug. And it's laying the groundwork for another FDA campaign next year for its cystic fibrosis program. Vertex will need to start ginning revenue quickly,...