Vertex, J

CHICAGO, June 30 (Reuters) Vertex Pharmaceuticals Inc. VRTX.O said on Friday it has formed a partnership with Johnson&Johnson to develop VX-950, the company's experimental treatment for Hepatitis C.

The deal gives J&J exclusive rights in Europe, South America, the Middle East, Africa and Australia. Vertex will retain exclusive commercial rights to VX-950 in North America.

Vertex will receive an upfront payment of 5 million upon signing the contract. In addition, Vertex could receive up to 0 million based on successful development and launch of VX-950 in the territories.

The agreement also includes a royalty on product sales in Europe and other territories outside of North America and the Far East.

Vertex will continue to lead the global development plan for VX-950.

REUTERS MQA GC1757