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Boston drug company laying off 125 employees in R.I.
Vertex says the layoffs are due to the discontinuation of a Type 1 diabetes study.
The pharmaceutical company Vertex is laying off 125 employees in Rhode Island and consolidating offices, following the discontinuation of a Type 1 diabetes study.
According to a company spokesperson, development of the VX-264 program—also known as the “cells plus device” project—was halted because the study did not meet its efficacy goals.
As a result, the company is eliminating specific roles associated with the program and will consolidate its operations in Providence, relocating to a single building at 225 Carolina Ave.
“We value the contributions of every team member impacted, and we are committed to ensuring as smooth a transition as possible,” spokeswoman Nina Devlin said in an email to Boston.com.
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The company will offer severance, outplacement support, and career counseling.
According to the Rhode Island Department of Labor and Training, the layoffs will take effect on Aug. 5.
Devlin says Vertex remains committed to “bringing transformative therapies” to people living with Type 1 diabetes and is progressing another Type 1 diabetes cell therapy program, Zimislecel.
According to the Mayo Clinic, Type 1 diabetes is a chronic autoimmune disease where the body’s immune system attacks the insulin-producing cells in the pancreas.
Type 1 diabetes has no cure. Current treatment manages the amount of sugar in the blood by using insulin, a balanced diet, and a healthy lifestyle.
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Despite the layoffs, Vertex has been growing its employee count. According to its annual filings, the company increased from 5,400 in 2023 to 6,100 in 2024. About 5,100 of those employees are in the U.S.
Vertex was founded in 1989 and has its global headquarters in Boston, as well as an international headquarters in London. The company has approved therapies for cystic fibrosis, sickle cell disease, acute pain, and other serious diseases.
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