Vertex Pharmaceuticals has agreed to acquire Crinetics Pharmaceuticals for $85 per share in cash, a deal valued at about $10 billion in equity value, or $8.8 billion net of estimated cash acquired. The acquisition is a strategic move to build an endocrinology franchise and is expected to close in the third quarter of 2026. Vertex highlighted two lead endocrine assets that it believes could generate more than $5 billion in combined peak annual sales: PALSONIFY, an approved once-daily oral therapy for acromegaly, and atumelnant, a late-stage treatment for congenital adrenal hyperplasia. Vertex plans to finance the purchase with cash on hand and debt, including $4.5 billion in committed bridge financing, and expects the transaction to be accretive to non-GAAP operating income by 2029.
Crinetics Pharmaceuticals IncAcquired at $85/share cash, a significant premium.
Vertex Pharmaceuticals IncAcquisition expected to be accretive to non-GAAP operating income by 2029 and adds $5B+ peak sales pipeline.