CAMBRIDGE (MASSACHUSETTS) (dpa-AFX) - Vertex Pharmaceuticals (VRTX) said Monday it has agreed to acquire Crinetics Pharmaceuticals (CRNX) in an all-cash deal valued at approximately $10 billion, strengthening its portfolio with commercial and late-stage endocrinology assets.
Under the agreement, Vertex will pay $85.00 per share in cash for Crinetics, representing an equity value of about $10.0 billion, or $8.8 billion net of estimated cash acquired.
The transaction has been unanimously approved by both companies' boards and is expected to close in the third quarter of 2026, subject to regulatory approvals and Crinetics shareholder approval.
The acquisition adds PALSONIFY (paltusotine), the first once-daily oral treatment for adults with acromegaly, which was approved by the U.S. FDA in 2025 and recently received approval in Europe. Vertex also gains atumelnant, a Phase 3 oral therapy for congenital adrenal hyperplasia, or CAH, with additional potential in Cushing's syndrome.
Vertex expects the acquired assets to generate more than $5 billion in peak annual revenue and said the deal will enhance its long-term growth and earnings profile. The company plans to finance the acquisition with cash on hand and debt, including $4.5 billion in committed bridge financing.
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