Vertex to take $400M impairment charge as it abandons diabetes drug program

zhz_akey/iStock via Getty Images Vertex Pharmaceuticals ( NASDAQ: VRTX ) will take a non-cash, intangible asset impairment charge of approximately $400M to GAAP operating expenses after deciding to abandon further development of type 1 diabetes candidate VX-264. The drugmaker made the decision on VX-264 based on phase.