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Vertex Pharmaceuticals stock rises as biotech sector rebounds

Vertex recently moved its headquarters to South Boston from Cambridge.
Vertex recently moved its headquarters to South Boston from Cambridge.Globe Staff/File 2014

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After getting hammered for days, biotech stocks advanced. Boston-based Vertex Pharmaceuticals gained 4.3 percent, and Biogen Idec Inc., of Cambridge, rose 4 percent; its Alprolix drug for hemophilia B has just been approved. Investors had been pulling money out of biotechs and turning to less volatile stocks, such as utilities. The S&P 500 Biotechnology Index is off 10 percent this month, even with Monday’s gains. The Nasdaq Biotechnology index was up 3 percent Monday, trimming its loss for March to 11 percent.

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