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FinanceVertex Pharma to acquire Crinetics for $10bn, or $85 per share in cash
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Vertex Pharmaceuticals has signed a definitive agreement to acquire Crinetics Pharmaceuticals for approximately $10 billion, or $8.8 billion net of cash acquired. The deal, approved unanimously by both companies' boards, values Crinetics at $85.00 per share in cash. It is expected to close in Q3 2026, subject to regulatory and shareholder approvals. The acquisition adds two key endocrinology assets to Vertex's portfolio: palsonify (paltusotine), a once-daily oral therapy for acromegaly approved by the FDA in September 2025 and the EMA in April 2026, and atumelnant, a Phase III candidate for congenital adrenal hyperplasia (CAH) with potential in Cushing's syndrome. The combined peak sales potential of these assets is estimated to exceed $5 billion. Vertex will fund the deal via cash and debt, with $4.5 billion in bridge financing from Bank of America and Morgan Stanley. Vertex CEO Reshma Kewalramani emphasized the strategic fit, citing serious specialty diseases with unmet need and best-in-class medicine potential.
Source report
Author: Salong Debbarma Source: Pharmaceutical Technology
Vertex has signed a definitive agreement to acquire Crinetics Pharmaceuticals in a transaction valued at nearly $10 billion, or $8.8 billion net of estimated cash acquired.
Approved unanimously by both companies' boards, the acquisition will see Vertex pay $85.00 per share in cash for all outstanding shares of Crinetics. The deal is expected to close in the third quarter (Q3) of 2026, pending regulatory approvals and shareholder consent from Crinetics.
Key Assets Acquired
The transaction adds two main endocrinology assets to Vertex's portfolio:
- Palsonify (paltusotine): A once-daily oral therapy for adults with acromegaly, approved by the U.S. Food and Drug Administration (FDA) in September 2025 and by the European Medicines Agency (EMA) in April 2026. Acromegaly is a rare condition usually caused by a pituitary tumor that leads to excess growth hormone secretion.
- Atumelnant: A once-daily oral adrenocorticotropic hormone receptor antagonist in Phase III development for congenital adrenal hyperplasia (CAH). CAH is a chronic genetic disorder characterized by impaired cortisol synthesis and excess androgen production.
Revenue and Market Potential
Vertex has stated that the acquisition is anticipated to contribute to its revenue growth from the ongoing launch of Palsonify. If approved, atumelnant could also generate significant revenue in CAH and potentially in Cushing's syndrome.
The two assets together are projected by the companies to have a combined annual peak sales potential exceeding $5 billion.
Financing
Vertex intends to fund the acquisition with a mixture of cash on hand and debt, supported by a fully committed bridge financing of $4.5 billion from Bank of America and Morgan Stanley Senior Funding.
Executive Commentary
Vertex CEO and President Reshma Kewalramani said:
"Crinetics is an excellent strategic fit for Vertex, with its focus on serious diseases in speciality markets with significant unmet need, well-understood causal human biology, and potentially best-in-class medicines that could deliver transformative benefit to patients. We are also excited by the significant potential of atumelnant to transform the treatment landscape for CAH, setting a new standard of care where patients do not have to choose between managing their excess adrenal androgens and enduring the side effects of high-dose steroids."
Related Development
In April 2026, Halozyme Therapeutics' subsidiary Halozyme Hypercon signed a global exclusive partnership and license agreement with Vertex for the Hypercon technology.
This article was originally created and published by Pharmaceutical Technology, a GlobalData owned brand.
Source
Yahoo FinanceWestern
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Vertex acquires Crinetics for $10B to expand into rare endocrine diseases