the target date for the fda to complete its review of the nda for lumacaftor in combination with ivacaftor under the prescription drug user fee act , or pdufa , is july 5 , 2015. accordingly , we expect to begin recognizing net product revenues from lumacaftor in combination with ivacaftor in the united states in mid-2015 . we do not expect significant net product revenues from lumacaftor in combination with ivacaftor from ex-u.s. markets in 2015 due to the reimbursement discussions that will be required in these markets following the potential approval of the combination in the fourth quarter of 2015. we believe that there are approximately 22,000 patients with cf twelve years of age and older who are homozygous for the f508del mutation in north america , europe and australia , including approximately 8,500 in the united states and approximately 12,000 in europe . 49 vx-661 in combination with ivacaftor in 2015 , we initiated a phase 3 development program for vx-661 in combination with ivacaftor in patients with cf twelve years of age and older , including patients who are homozygous for the f508del mutation in their cftr gene and patients who have one copy of the f508del mutation in their cftr gene ( heterozygous ) . next-generation cftr corrector compounds we also are seeking to identify and develop next-generation cftr corrector compounds that could be evaluated in future dual- and or triple-combination treatment regimens with the potential to provide additional benefits to patients with cf . we have multiple next-generation correctors in the lead-optimization stage of research and expect to begin clinical development of a next-generation corrector in 2015. research and early-stage development we are engaged in a number of other research and early-stage development programs , including programs in the areas of oncology and neurology . we plan to continue investing in our research programs and fostering scientific innovation in order to identify and develop transformative medicines with a focus on cf and other genetic diseases , oncology and neurology . we believe that pursuing research in diverse areas allows us to balance the risks inherent in drug development and may provide drug candidates that will form our pipeline in future years . hcv infection in 2012 and 2013 , we recognized significant net product revenues based on sales of incivek ( telaprevir ) , a product for the treatment of genotype 1 hcv infection that we marketed in north america . in october 2013 , in response to declining sales of incivek and increased competition , we reduced our focus on marketing incivek and eliminated the u.s. field-based sales force that had been promoting incivek . we have withdrawn incivek from the market in the united states , and we expect to wind-down any remaining activities relating to the field of hcv infection in 2015. in addition , we incurred an intangible asset impairment charge of $ 412.9 million in the first quarter of 2013 related to vx-222 a drug candidate for the treatment of hcv infection . in the fourth quarter of 2014 , we provided notice of termination of our collaboration with alios biopharma , inc. , or alios , related to the development of hcv nucleotide analogues . our financial statements reflect the activities related to alios as discontinued operations . drug discovery and development discovery and development of a new pharmaceutical product is a difficult and lengthy process that requires significant financial resources along with extensive technical and regulatory expertise and can take 10 to 15 years or more . potential drug candidates are subjected to rigorous evaluations , driven in part by stringent regulatory considerations , designed to generate information concerning efficacy , side-effects , proper dosage levels and a variety of other physical and chemical characteristics that are important in determining whether a drug candidate should be approved for marketing as a pharmaceutical product . most chemical compounds that are investigated as potential drug candidates never progress into development , and most drug candidates that do advance into development never receive marketing approval . because our investments in drug candidates are subject to considerable risks , we closely monitor the results of our discovery , research , clinical trials and nonclinical studies and frequently evaluate our drug development programs in light of new data and scientific , business and commercial insights , with the objective of balancing risk and potential . this process can result in abrupt changes in focus and priorities as new information becomes available and as we gain additional understanding of our ongoing programs and potential new programs , as well as those of our competitors . if we believe that data from a completed registration program support approval of a drug candidate , we submit an nda to the fda requesting approval to market the drug candidate in the united states and seek analogous approvals from comparable regulatory authorities in foreign jurisdictions . to obtain approval , we must , among other things , demonstrate with evidence gathered in nonclinical studies and well-controlled clinical trials that the drug candidate is safe and effective for the disease it is intended to treat and that the manufacturing facilities , processes and controls for the manufacture of the drug candidate are adequate . the fda and foreign regulatory authorities have substantial discretion in deciding whether or not a drug candidate should be granted approval based on the benefits and risks of the drug candidate in the treatment of a particular disease , and could delay , limit or deny regulatory approval . if regulatory delays are significant or regulatory 50 approval is limited or denied altogether , our financial results and the commercial prospects for the drug candidate involved will be harmed . regulatory compliance our marketing of pharmaceutical products is subject to extensive and complex laws and regulations . story_separator_special_tag we do not expect significant net product revenues from lumacaftor in combination with ivacaftor in 2015 from ex-u.s. markets due to the reimbursement discussions that will be required in these markets following the potential approval of the combination in the fourth quarter of 2015. we can not make a meaningful estimate when , if ever , our other clinical development programs will generate revenues and cash flows . 56 research expenses replace_table_token_10_th over the past three years we have maintained a substantial investment in research activities resulting in a 10 % increase in research expenses in 2014 as compared to 2013 and a 9 % increase in research expenses in 2013 as compared to 2012 . we expect to continue to invest in our research programs with a focus on identifying drug candidates for specialty markets . development expenses replace_table_token_11_th our development expenses decreased by $ 50.4 million , or 8 % , in 2014 as compared to 2013 and increased by $ 96.1 million , or 17 % , in 2013 as compared to 2012 . the decrease in 2014 compared to 2013 was principally due to decreased outsourced services expenses and drug supply costs , partially offset by increased stock-based compensation expense . the significant decrease in outsourced services expenses in 2014 was largely attributable to decreased clinical trial expenses resulting from the completion of the traffic and transport clinical trials in the first half of 2014. we expect our development expenses for outsourced activities to increase in 2015 as compared to 2014 due to activities related to clinical trials , including the phase 3 clinical development program for vx-661 in combination with ivacaftor . the increased development expenses in 2013 in comparison to 2012 were principally due to the expansion of clinical development programs in cf , including the conduct of the phase 3 program for the combination of lumacaftor and ivacaftor , and increased drug supply costs primarily related to lumacaftor . 57 sales , general and administrative expenses replace_table_token_12_th sales , general and administrative expenses decreased by 14 % in 2014 compared to 2013 , primarily due to decreased headcount following our october 2013 restructuring activities . sales , general and administrative expenses decreased by 18 % in 2013 compared to 2012 , primarily due to decreased incivek commercial expenses and our october 2013 restructuring activities , partially offset by increased kalydeco commercial expenses . restructuring expense in 2014 , 2013 and 2012 , we recorded restructuring expenses of $ 50.9 million , $ 40.5 million and $ 1.8 million , respectively . our restructuring expenses in 2014 primarily related to the relocation of our corporate headquarters in massachusetts to boston from cambridge . our restructuring expenses in 2013 primarily related to our october 2013 reduction in headcount . as of december 31 , 2014 , our accrued restructuring liability related to our lease obligations in cambridge was $ 45.0 million . these lease obligations primarily expire on december 31 , 2015 and april 30 , 2018. intangible asset impairment charges in 2013 , we recorded a $ 412.9 million impairment charge related to vx-222 , a non-nucleoside hcv polymerase inhibitor . in connection with this impairment charge , we recorded a credit of $ 127.6 million in our provision for income taxes , resulting in a net effect on net loss attributable to vertex related to this impairment charge of $ 285.3 million in 2013. there were no corresponding intangible asset impairment charges recorded related to continuing operations in 2014 or 2012. in 2013 , we recorded a $ 250.6 million impairment charge related to the alios hcv nucleotide analogue program and a benefit for income taxes of $ 102.1 million that is included in loss from discontinued operations attributable to noncontrolling interest for 2013. other items , net interest expense , net in 2014 , 2013 and 2012 , interest expense , net was $ 72.9 million , $ 22.9 million and $ 15.0 million , respectively . the increase in interest expense in 2014 compared to 2013 was primarily due to interest expense of $ 60.2 million associated with the leases for our corporate headquarters and interest expense of $ 10.4 million related to the $ 300.0 million we borrowed in july 2014 pursuant to our credit agreement . the increase in interest expense , net in 2013 compared to 2012 was primarily due to interest expense associated with the leases for our corporate headquarters commencing in the fourth quarter of 2013. other income ( expense ) , net in 2014 , net other income was $ 30.4 million primarily due to a credit of $ 36.7 million related to a one-time cash payment we received in 2014 from our landlord pursuant to leases for our corporate headquarters . in 2013 , we recorded net other income of $ 6.9 million primarily related to foreign exchange gains . in 2012 , our net other income was not significant . income taxes in 2014 , we recorded a provision for income taxes of $ 7.0 million . in 2013 , we recorded a benefit from income taxes of $ 122.4 million . this benefit from income taxes was primarily due to a benefit of $ 127.6 million related to our impairment charge for the vx-222 intangible asset . in 2012 , our benefit from income taxes was not significant . 58 discontinued operations as of september 30 , 2014 , we concluded that we no longer had significant continuing involvement with alios , a variable interest entity that we consolidated from june 2011 through december 2013. as a result , the effect of the alios collaboration is presented as discontinued operations in our consolidated statements of operations . in 2014 , we recorded a loss from discontinued operations attributable to vertex of $ 0.9 million . in 2013 , we recorded income from discontinued operations of $ 58.6 million and in 2012 we recorded a loss from discontinued operations of $ 139.3 million

liquidity and capital resources as of december 31 , 2014 , we had cash , cash equivalents and marketable securities of approximately $ 1.39 billion , which represented a decrease of $ 78.0 million from approximately $ 1.47 billion as of december 31 , 2013 . this decrease was due to cash expenditures we made during 2014 related to , among other things , research and development expenses and sales , general and administrative expenses and $ 132.9 million for capital expenditures , largely offset by cash receipts from product sales , $ 300.0 million we borrowed pursuant to a credit agreement we entered into in the third quarter of 2014 , $ 274.6 million in cash we received from issuances of common stock pursuant to employee benefit plans , the payments of $ 35.0 million that we received from janssen inc. and a one-time cash payment of $ 36.7 million from our landlord pursuant to the terms of the leases for our corporate headquarters . we expect to continue to incur losses on a quarterly basis until we can substantially increase revenues as a result of potential future regulatory approvals , the timing of which are uncertain . sources of liquidity we intend to rely on our existing cash , cash equivalents and marketable securities together with cash flows from product sales as our primary source of liquidity . our cash flows from product sales have decreased on an annual basis during each of the past two years . in the near-term , we expect cash flows from sales of kalydeco to increase as we continue to increase the number of patients that are treated with kalydeco . if we obtain approval on a timely basis , we expect to begin recognizing net product revenues from lumacaftor in combination with ivacaftor in the united states in mid-2015 .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources as of december 31 , 2014 , we had cash , cash equivalents and marketable securities of approximately $ 1.39 billion , which represented a decrease of $ 78.0 million from approximately $ 1.47 billion as of december 31 , 2013 . this decrease was due to cash expenditures we made during 2014 related to , among other things , research and development expenses and sales , general and administrative expenses and $ 132.9 million for capital expenditures , largely offset by cash receipts from product sales , $ 300.0 million we borrowed pursuant to a credit agreement we entered into in the third quarter of 2014 , $ 274.6 million in cash we received from issuances of common stock pursuant to employee benefit plans , the payments of $ 35.0 million that we received from janssen inc. and a one-time cash payment of $ 36.7 million from our landlord pursuant to the terms of the leases for our corporate headquarters . we expect to continue to incur losses on a quarterly basis until we can substantially increase revenues as a result of potential future regulatory approvals , the timing of which are uncertain . sources of liquidity we intend to rely on our existing cash , cash equivalents and marketable securities together with cash flows from product sales as our primary source of liquidity . our cash flows from product sales have decreased on an annual basis during each of the past two years . in the near-term , we expect cash flows from sales of kalydeco to increase as we continue to increase the number of patients that are treated with kalydeco . if we obtain approval on a timely basis , we expect to begin recognizing net product revenues from lumacaftor in combination with ivacaftor in the united states in mid-2015 .
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 Suspicious Activity Report : the target date for the fda to complete its review of the nda for lumacaftor in combination with ivacaftor under the prescription drug user fee act , or pdufa , is july 5 , 2015. accordingly , we expect to begin recognizing net product revenues from lumacaftor in combination with ivacaftor in the united states in mid-2015 . we do not expect significant net product revenues from lumacaftor in combination with ivacaftor from ex-u.s. markets in 2015 due to the reimbursement discussions that will be required in these markets following the potential approval of the combination in the fourth quarter of 2015. we believe that there are approximately 22,000 patients with cf twelve years of age and older who are homozygous for the f508del mutation in north america , europe and australia , including approximately 8,500 in the united states and approximately 12,000 in europe . 49 vx-661 in combination with ivacaftor in 2015 , we initiated a phase 3 development program for vx-661 in combination with ivacaftor in patients with cf twelve years of age and older , including patients who are homozygous for the f508del mutation in their cftr gene and patients who have one copy of the f508del mutation in their cftr gene ( heterozygous ) . next-generation cftr corrector compounds we also are seeking to identify and develop next-generation cftr corrector compounds that could be evaluated in future dual- and or triple-combination treatment regimens with the potential to provide additional benefits to patients with cf . we have multiple next-generation correctors in the lead-optimization stage of research and expect to begin clinical development of a next-generation corrector in 2015. research and early-stage development we are engaged in a number of other research and early-stage development programs , including programs in the areas of oncology and neurology . we plan to continue investing in our research programs and fostering scientific innovation in order to identify and develop transformative medicines with a focus on cf and other genetic diseases , oncology and neurology . we believe that pursuing research in diverse areas allows us to balance the risks inherent in drug development and may provide drug candidates that will form our pipeline in future years . hcv infection in 2012 and 2013 , we recognized significant net product revenues based on sales of incivek ( telaprevir ) , a product for the treatment of genotype 1 hcv infection that we marketed in north america . in october 2013 , in response to declining sales of incivek and increased competition , we reduced our focus on marketing incivek and eliminated the u.s. field-based sales force that had been promoting incivek . we have withdrawn incivek from the market in the united states , and we expect to wind-down any remaining activities relating to the field of hcv infection in 2015. in addition , we incurred an intangible asset impairment charge of $ 412.9 million in the first quarter of 2013 related to vx-222 a drug candidate for the treatment of hcv infection . in the fourth quarter of 2014 , we provided notice of termination of our collaboration with alios biopharma , inc. , or alios , related to the development of hcv nucleotide analogues . our financial statements reflect the activities related to alios as discontinued operations . drug discovery and development discovery and development of a new pharmaceutical product is a difficult and lengthy process that requires significant financial resources along with extensive technical and regulatory expertise and can take 10 to 15 years or more . potential drug candidates are subjected to rigorous evaluations , driven in part by stringent regulatory considerations , designed to generate information concerning efficacy , side-effects , proper dosage levels and a variety of other physical and chemical characteristics that are important in determining whether a drug candidate should be approved for marketing as a pharmaceutical product . most chemical compounds that are investigated as potential drug candidates never progress into development , and most drug candidates that do advance into development never receive marketing approval . because our investments in drug candidates are subject to considerable risks , we closely monitor the results of our discovery , research , clinical trials and nonclinical studies and frequently evaluate our drug development programs in light of new data and scientific , business and commercial insights , with the objective of balancing risk and potential . this process can result in abrupt changes in focus and priorities as new information becomes available and as we gain additional understanding of our ongoing programs and potential new programs , as well as those of our competitors . if we believe that data from a completed registration program support approval of a drug candidate , we submit an nda to the fda requesting approval to market the drug candidate in the united states and seek analogous approvals from comparable regulatory authorities in foreign jurisdictions . to obtain approval , we must , among other things , demonstrate with evidence gathered in nonclinical studies and well-controlled clinical trials that the drug candidate is safe and effective for the disease it is intended to treat and that the manufacturing facilities , processes and controls for the manufacture of the drug candidate are adequate . the fda and foreign regulatory authorities have substantial discretion in deciding whether or not a drug candidate should be granted approval based on the benefits and risks of the drug candidate in the treatment of a particular disease , and could delay , limit or deny regulatory approval . if regulatory delays are significant or regulatory 50 approval is limited or denied altogether , our financial results and the commercial prospects for the drug candidate involved will be harmed . regulatory compliance our marketing of pharmaceutical products is subject to extensive and complex laws and regulations . story_separator_special_tag we do not expect significant net product revenues from lumacaftor in combination with ivacaftor in 2015 from ex-u.s. markets due to the reimbursement discussions that will be required in these markets following the potential approval of the combination in the fourth quarter of 2015. we can not make a meaningful estimate when , if ever , our other clinical development programs will generate revenues and cash flows . 56 research expenses replace_table_token_10_th over the past three years we have maintained a substantial investment in research activities resulting in a 10 % increase in research expenses in 2014 as compared to 2013 and a 9 % increase in research expenses in 2013 as compared to 2012 . we expect to continue to invest in our research programs with a focus on identifying drug candidates for specialty markets . development expenses replace_table_token_11_th our development expenses decreased by $ 50.4 million , or 8 % , in 2014 as compared to 2013 and increased by $ 96.1 million , or 17 % , in 2013 as compared to 2012 . the decrease in 2014 compared to 2013 was principally due to decreased outsourced services expenses and drug supply costs , partially offset by increased stock-based compensation expense . the significant decrease in outsourced services expenses in 2014 was largely attributable to decreased clinical trial expenses resulting from the completion of the traffic and transport clinical trials in the first half of 2014. we expect our development expenses for outsourced activities to increase in 2015 as compared to 2014 due to activities related to clinical trials , including the phase 3 clinical development program for vx-661 in combination with ivacaftor . the increased development expenses in 2013 in comparison to 2012 were principally due to the expansion of clinical development programs in cf , including the conduct of the phase 3 program for the combination of lumacaftor and ivacaftor , and increased drug supply costs primarily related to lumacaftor . 57 sales , general and administrative expenses replace_table_token_12_th sales , general and administrative expenses decreased by 14 % in 2014 compared to 2013 , primarily due to decreased headcount following our october 2013 restructuring activities . sales , general and administrative expenses decreased by 18 % in 2013 compared to 2012 , primarily due to decreased incivek commercial expenses and our october 2013 restructuring activities , partially offset by increased kalydeco commercial expenses . restructuring expense in 2014 , 2013 and 2012 , we recorded restructuring expenses of $ 50.9 million , $ 40.5 million and $ 1.8 million , respectively . our restructuring expenses in 2014 primarily related to the relocation of our corporate headquarters in massachusetts to boston from cambridge . our restructuring expenses in 2013 primarily related to our october 2013 reduction in headcount . as of december 31 , 2014 , our accrued restructuring liability related to our lease obligations in cambridge was $ 45.0 million . these lease obligations primarily expire on december 31 , 2015 and april 30 , 2018. intangible asset impairment charges in 2013 , we recorded a $ 412.9 million impairment charge related to vx-222 , a non-nucleoside hcv polymerase inhibitor . in connection with this impairment charge , we recorded a credit of $ 127.6 million in our provision for income taxes , resulting in a net effect on net loss attributable to vertex related to this impairment charge of $ 285.3 million in 2013. there were no corresponding intangible asset impairment charges recorded related to continuing operations in 2014 or 2012. in 2013 , we recorded a $ 250.6 million impairment charge related to the alios hcv nucleotide analogue program and a benefit for income taxes of $ 102.1 million that is included in loss from discontinued operations attributable to noncontrolling interest for 2013. other items , net interest expense , net in 2014 , 2013 and 2012 , interest expense , net was $ 72.9 million , $ 22.9 million and $ 15.0 million , respectively . the increase in interest expense in 2014 compared to 2013 was primarily due to interest expense of $ 60.2 million associated with the leases for our corporate headquarters and interest expense of $ 10.4 million related to the $ 300.0 million we borrowed in july 2014 pursuant to our credit agreement . the increase in interest expense , net in 2013 compared to 2012 was primarily due to interest expense associated with the leases for our corporate headquarters commencing in the fourth quarter of 2013. other income ( expense ) , net in 2014 , net other income was $ 30.4 million primarily due to a credit of $ 36.7 million related to a one-time cash payment we received in 2014 from our landlord pursuant to leases for our corporate headquarters . in 2013 , we recorded net other income of $ 6.9 million primarily related to foreign exchange gains . in 2012 , our net other income was not significant . income taxes in 2014 , we recorded a provision for income taxes of $ 7.0 million . in 2013 , we recorded a benefit from income taxes of $ 122.4 million . this benefit from income taxes was primarily due to a benefit of $ 127.6 million related to our impairment charge for the vx-222 intangible asset . in 2012 , our benefit from income taxes was not significant . 58 discontinued operations as of september 30 , 2014 , we concluded that we no longer had significant continuing involvement with alios , a variable interest entity that we consolidated from june 2011 through december 2013. as a result , the effect of the alios collaboration is presented as discontinued operations in our consolidated statements of operations . in 2014 , we recorded a loss from discontinued operations attributable to vertex of $ 0.9 million . in 2013 , we recorded income from discontinued operations of $ 58.6 million and in 2012 we recorded a loss from discontinued operations of $ 139.3 million

