Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) announced positive Phase 3 clinical trial results for its VX-770 Cystic Fibrosis drug. The oral medicine for children aged 6 to 11 targets the defective protein that causes the disease.The study showed significant improvement in lung function from baseline and compared to a placebo.Dr. Robert Kauffman, Senior Vice President and Chief Medical Officer for Vertex said, "In this study, children with CF treated with VX-770 showed the same profound improvements in lung function seen in the recently-announced STRIVE study among an older group of people with the G-55-1D mutation. We are committed to making VX-770 available as soon as possible and are moving ahead quickly with our U.S. and European applications for regulatory approval that we plan to submit in the second half of this year."Vertex is on track to submit regulatory applications in the second half of 2011.