Vertex to change $103M in 2013 notes into stock

The USA's Vertex Pharmaceuticals says that holders of its 4.75% convertible senior subordinated notes due 2013 have agreed to exchange  $103.3 million of those notes for 4.8 million shares of the company's  common stock, which is approximately 287,000 shares more than the number  into which the notes were convertible under their original terms.

The additional shares largely relate to unpaid interest through February  2010, when the notes would have been callable by Vertex. The  Massachusetts-based drugmaker anticipates that the exchanges will  complete by June 10.