Concert Pharmaceuticals sells rights to CTP-656

Vertex Pharmaceuticals Inc.(Nasdaq: VRTX) will pay $160 million in cash for the worldwide development and commercialization rights to Concert Pharmaceuticals Inc.'s (Nasdaq: CNCE) investigational cystic fibrosis treatment CTP-656. Shares of Vertex Pharmaceuticals rose 72 cents to close at $90.91 while Concert Pharmaceuticals stock jumped $5.99 to close at $15.64.